Week 2 Ideation Bootcamp - Bluhm
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Transcript of Week 2 Ideation Bootcamp - Bluhm
Research…Insight
Currently Researching for….
Qazzow
CopsForHire.com
Michelangelo
Flowboard
If, In-Market Proxies?
Else, Analogous Models?
Else, Extrapolate?
Else, Cloud?
End. OOL
Three Big Lies…(related to research)
“Our projections are conservative.”REALITY: NEVER - Divide by 3 and add a Year
“(Insert big name research firm here) says our market will be $65 billion by 2012.” REALITY: By the time research firms are accurate, it’s already happened….and crowded!
“All we have to do is get 1% of the market.”REALITY: 1% is both hard and also uninteresting at the same time.
1875
1925
1975
2025 150M
20092008
1997
19661965
Telephone 1876
Television 1928
VCR 1972
CellPhone 1983
iPod 2001
89 years
38 years
22 years
14 years
7 years
1994
Android 2009
2010< 2 years
Net3: The speed required to recognize, react to and capture a market opportunity has accelerated
What to research?
1. A research methodology2. TAM/SAM/FAS3. A full understanding of the problem4. Your sharp market entry point5. The best market entry strategy6. The 100% solution to the problem7. Competition – your unfair advantage8. 1st customer
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22
33
44
55
66
77
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A Methodology
Blue Ocean StrategyHarvard Planning Model / S.W.O.T.Crossing the Chasm
elim
inat
ere
duceraise
createStrong, independent brokers
Regional MLS power
Realtor control
Realtor access
Realtor services platform
Process (hassle) of getting information
Source: Blue Ocean Strategy
33
elim
inat
ere
duceraise
createRealtor control
MLS control
Market transparency
Buyer (consumer) control
Consumer access
Consumer services platform
Process (hassle) to information by consumer
Source: Blue Ocean Strategy
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S.W.O.T.
INTERNAL
EXTERNAL
PO
SIT
IVE
NE
GA
TIV
E
STRENGTHS
OPPORTUNITIES
WEAKNESSES
THREATS
• Team/Experience• Technology• Channels• Models• Time to Market Lead
• New Complimentary Markets• New Technologies• New Channels/Models• Trends/Shifts/Disruptions• Competitive Weaknesses• IP/Gov. Regulations/Privacy
• Team/Experience• Technology• Channels• Models• Competitive Vulnerability
• Economy• New Technologies• New Channels/Models• Trends/Shifts/Disruptions• Competitive Strengths• IP/Gov. Regulations/Privacy
33
Bowling Pin Metaphor
eRetailBooks
eRetailConsumerElectronics
eRetailToys
eRetailVideos
eRetailMusic
eRetailHome
Improvement
Amazon
Xbox?Xbox?
Barney Dolls?Barney Dolls?
Source: Chasm Group
Desktop PCsO.S.
Games andEntertainment
Consumers
Desktop PCsAccessories
Desktop PCsApplications
EnterpriseComputing
Microsoft
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Kindle?Kindle?
Total Available Market
ServiceableAvailableMarket
First AddressedSegment
S1A2
S1A3
S2A1
S3A1
S2A2
S1A1
All market segments and geographies,
The market segments and geographies your initial product can address
The one segment and application that your product will 100% address
The adjacent market segments, applications and geographies you could potentially addressed
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Ask the next question…33
Ask the next question….33
Actual >>> Forecast
2011 2012 2013 2014
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Top 10 Needs of Humanity?
• Energy• Food• Water• Environment• Poverty• Terrorism/War• Education• Democracy• Disease• Population Control
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• Video Games • Customer Retention Software• MP3 Players• Internet Security• Bigger TV Screens• Crocs• Sneakers with blinking lights• Viagra• Lady Gaga
Curiously Missing?
Ask the next question…
Why will they buy? How will they buy?
How much will they pay? Why will they buy again?
When will they buy again? How much will they
continue to pay?
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Competition Research
• Companies competing in a related product/market• Companies using related technologies• Companies already targeting your prime market
segment but with unrelated products• Companies from other geographical areas and with
similar products• New start-up companies organized by former
employees and/or managers of existing companies
77
1st Customer = Your Initial Investor
• Who is investing in your space?• Why are they investing in your space?• What are their biases? Concerns? Beliefs?• Who has just failed to invest in your space?• Which partner is most enthusiastic?• What messaging are they buying?• “Social TV” vs “Adnausium – delivering scalable
advertising solutions to integrated demand side platforms”
8
What is ?
“Yahoo is a global series of Web experiences across a variety of devices that gives people what they want. In content it
connects advertisers to an audience that is global in scope. Yahoo is all about delivering experiences to individuals that
make them engage with each other. Folks anchor on: are you a search company? A content company? A communications
company? We would like to engage with people on the things that matter most to them.”
- Chief Product Officer Blake Irving
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FAIL
What is again?
“Listen, Yahoo is a great company that is very, very strong in content for its users, uses amazing technology to serve up what increasingly we think is going to be
the web of one. For instance, on our today module in the front page, every five minutes we have 32,000 different variations of that module. So you don’t even
know what I’m seeing—in fact, we serve a million different front-page modules a day and that’s just through content optimization. And that’s just the beginning…Customized because we know the things you’re interested in. Maybe you don’t like light entertainment; maybe you like a certain sports team, etc., etc. And our click-through rate went up twice. So the point is, people come to us to find out
what is going on with the world in a very nice, quick fashion to do their communications, email, messenger, check-in on their teens. We all know about
Yahoo finance. It’s a place where you can just get it together. It’s collated for you, it’s all the things as you’re moving, you can even get your social information there. Everybody moves through many websites in a day, Yahoo is one they
always stop at”
- Carol Bartz, CEO in a follow up effort to Irving’s attempt above
1010
DOUBLE
FAIL
And
FIRED!
it’s not about genius
most brilliant execution wins
the only bad information…
…is information that you do not have.
Research will not
prevent setbacks