Recap & wrap-up last week
Moving on: Chapter 2, Entrepreneurial Journey
Journey for Leap.it
‘Chance favors the prepared mind.’
-Louis Pasteur
Technology Trends
2006
2006
Kurzweilai
‘brain’
2007
Mock
#1
iPhone
Search
Map
Mindmap
2010
Java
Proto
2010
‘direct to
Web not
possible’
Beta
Real-time
& Social
2011
2012
2014+
Byoms
In Tech
Review
A Know-It-All IM Buddy
A Kansas startup adds "social
search” to instant messaging
Perspectives
Longview
Leap.it Journey
Who do you look up to, or would consider as life mentors?
What are your personal strengths (love to do)?
What are your Top 5 Skills?
What are your natural interests?
When have you exhibit GRIT or Resilience?
What is your industry focus?
Motivational: Define personal strengths/skills & industry interests
Purpose: Evaluate thoughts, feelings on needs in the world
Curiosity: Explore your imagination, ask ‘Why”
Knowledge Management: Store thinking for future development (Journaling)
Discovery: Uncover the seeds of concepts and ideas
Ideation: Develop concepts and ideas
Synthesis: Show how more than one idea may be combined or reconfigured
Contextualization: Formulate an understanding for the application of an idea (opportunity definition)
Perspective: Incorporate diverse perspectives to refine idea (empathy)
Opportunity
Strengths
Interests
Personal Reflection
Project Research, Ideation and Assessment
Technology & Product Development
Startup Business Planning
Plan Presentation
Experimentation: Utilize tools and processes for the refinement of concepts and ideas (Thinkering)
Critical Thinking: Develop criteria for the refinement and/or selection of features.
Planning: Develop plans to test assumptions (product)
Problem Solving: Engage in iteration by revisiting, refining, and renewing ideas or concepts
Communication: Express ideas with diverse communication tools
Champion: Inspire others to adopt concepts and ideas (External)
Leadership: Influence others to accomplish an objective (Internal)
Transformation: Move an idea or concept into purposeful action
Growth Mindset: Learn to self evaluate
Teamwork: Collaborate with others to reach a common goal
Applied Research: Conduct marketing research in constructing a startup model
Assessment: determine needed resources for a new business venture.
Analytical: develop key financial assumptions & projections for startup financial plan.
What are the market & technology trends, Whitespace?
Who are the Top 5 experts in your industry?
What key problem have you identified or opportunity have you identified in your industry?
Does your idea address the problem/opp?
How did you come up with idea?
What is your core value proposition?
Who is your target market?
What input did you receive from outsiders?
Did you adapt your product to meet needs?
Student Assignments
Resources
Key Questions
Learning Approach
Objective (NRC)
Design Thinking
Strengths Finder
Invention of You
Top 5 strengths
Top 3 motivations
Degree matches
Degree/Career Research
Top 3 interesting Industries
Pros and Cons
Choose Industry
Industry Analysis
Size, Growth rate, Segmentation, Growth Segments,
Industry ecosystem graphic
Major Industry developments
Skills (CCR)
Self direction & Initiative (Entrepreneur Mindset)
Planning/Time Management
Persistence
Asynchronous development
Problem Solving (Engineer Mindset)
Critical Thinking
Adaptability
Research & depth of industry knowledge
Self Awareness
Accessing & Synthesizing Info
Visual thinking/sketching (Design Thinking)
Creativity
Abstract/Lateral Thinking
Collaboration
Verbal, Written & Visual Communication
Leadership
Entrepreneurism/Growth Mindset
Knowledge
Cognitive
Character
Empathy
Courage
Curosity (Beginner Mindset)
Dependability
Information Analysis
Initiative
Lean Lab & Minimum Viable Product
TechStars
Sharktank, Invention Convention, Jacobsen
Systems Thinking
Thinkering (Maker Mindset)
Prototyping Approaches
Visual & Verbal Communication
Confidence
Manage Ambiguity
Are the key features & benefits defined?
Is the idea feasible & protectable?
What is the competitive landscape?
How is the idea differentiated?
Who is the lead customer?
Did you adapt product?
Is the idea protectable?
Who are the key product suppliers & partners?
How big is the market?
What is the go-to-market strategy?
What initial resources are needed to develop?
What are the key milestones?
Who are the potential advisors or team members?
What is the initial budget? startup costs?
What are Sales & Breakeven?
Did the short video explain the key features of the product?
Did the presentation cover all aspects that investors look for?
Does the one page executive summary explain the entire startup and product?
Was I professional & succinct in my pitch?
Written Communication
Discovery
CAPS Innovation & Entrepreneurship Course Curriculum
Version 4.0
“The intuitive mind is a sacred gift and the rational mind a faithful servant. We have created a society that honors the servant and has forgotten the gift.” - Albert Einsten
Technology & Market Trends
Top 10 Trends
Define Focused Niche
Product Ideation
Brainstorm 10 ideas
Sketch top 3
Class discussion
Choose Idea!
Ethnography Research
Inspiration: People, Places
Insight learnings
User/expert Interviews
Opportunity Statement
Customer Problem
Product Solution
Product Roadmap
Two releases: Alpha & Beta
Dates of Key features
Outline metrics
Competitive Matrix
3 other products
5 features mapped
Product Mockup
Key features
Digital Sketch or Ducktape
Define Material List
Alpha Prototype
Metrics met?
Beta Prototype
Metrics met?
Supplier/Partner List
Resources to produce
Activities to product
Target Market
Primary & Secondary
Customer Journey
Executive Summary (v.1)
Prototype Image
Opportunity Statement
Go-to-market Plan
Core Value Proposition
Marketing Materials
Promotions Plan
Online Strategy
Distribution Plan
Pricing & Positioning
Marketing Budget
Startup Financials
Two Years Sales/Expense
Profits
Two year Breakeven Analysis
Startup Costs
Advisors & Team
Key Milestones
Executive Summary (v.2)
Verson 1, plus
Go-to-market, Team Milestone
Financials
Product Demo Video
90 Second
½ Product Demo
½ Product Marketing
Startup Pitch Presentation
12-14 slides
Follows Techstars model
SharkTank Pitch
5 min presentation
3 min Q&A
‘Self Discovery through Innovation & Entrepreneurship’
Growth Mindset
Knowledge
Cognitive
Character
Week 1
Week 3
Week 4
Week 5
Week 10
Week 13
Week 15
Week 16
Week 2
Week 6
Week 7
Week 8
Week 9
Week 11
Week 12
Week 14
Week 17
Week 18
Week 19
Assignment: Research Industries of Interest
Assignment: Choose 2 Industries worksheet
Industry Choice #1:
Industry NAICS 5 Code:
Pros: (1)
(2)
Cons: (1)
(2)
A key factor for decision:
Industry fact about the industry:
Industry person/expert you know: