Idea Generation

Other people see things and say ‘Why?’ …. But I dream

things that never were and say ‘Why not?’

George Bernard Shaw

 Attributes of the Creative Person

• Openness to experience
• Observance – seeing things differently
• Curiosity
• Personal freedom
• Willingness to take calculated risks
• Self reliance
• Persistence
• Freedom from fear of failure
• Desire for recognition
 Managing Creativity- Inhibition

• Bureaucracy
• Tradition and culture
• Poor communication
• Penalties for failure
• Tight deadlines
• Authority over responsibility
• Values which inhibit
 Managing Creativity- Fostering

• Open organisational structure

• Freedom to fail
• Culture of new ideas
• Delegate responsibility
• Circulate success stories
• Empowerment
 Creative Organisation

• Sharing a vision
• Interpersonal support
• Praising achievement
• Coaching
• Conflict resolution
• Accepting failure
 Sources of Ideas……….

• Existing Businesses
• Franchises
• Product Licensing
• Patents
• Networking
• Support Agencies
• WWW………..
 Techniques for generating ideas

• Guidelines for idea generating sessions

– Select participants

– Have a facilitator

– Task Focus

– Time Management
 Techniques for generating ideas

• Brainstorming

• Attribute Listing

• Who, what, where, when, why, how

• Assumption Smashing

• Discontinuity
 Screening ideas for opportunities

• The ‘Gut Feeling’ is not good enough!

• Need for Solid Market Research
– Size of market
– Competitor Analysis
– Market Conditions and trends
– Profit Margins
– Revenue Opportunities
 Assessing a Good Idea – Questions to
ask (O’Kane)

• Why is it a good idea?

• What are the assumptions?
• What type of customer will buy it?
• Why?
• List four ideas why the idea will NOT work
• List four ideas why it will work.
• What are the differences?
 Key Issues

• Timing
• Feasibility of the idea
• Suitability of the idea to the circumstances of the
potential entrepreneur
 Transforming Ideas into Realisable
Opportunities

• Action-oriented
• Focus and pace
• Easy to understand
• Networking with the industry
• Try, test and revise
• Harnessing competencies and capability
 Useful Websites

• Entrepreneurs.about.com/cs/ideas
• Entrepreneurs.about.com/library/weekly/199/aa092799.htm
• www.bizplus.ie
• www,businesscreativitynetwork.org.uk/tools.htm
• www.circle-of-excellence.com
• www.cocd.be/eng/index.htm
• www.entrepreneur.com
• www.irc.net.lu
• www.niftybusinessideas.com
• www.planware.org
• www.powerhomebiz.com
• www.work-at-home-index.net/limks/telecommuniting.html
 Useful Websites

• http://ireland.franchiseopportunities.com/
• http://www.irishfranchiseassociation.com/
• http://www.irishfranchisemagazine.net/?
ck=1&s=4ecbefb5514aa1997c7a043483400f58
• www.ideacafe.com