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Ideas and Strategy PRESENTATION TO *** BUSINESS PLAN COMPETITION PARTICIPANTS ATCZG002120239CoyneMSTR Today ? Developing an idea ? Assessing your idea ? Describing your strategy ? A couple of wrinkles 2 ATCZG002120239CoyneMSTR Developing an idea ? Why brainstorming usually fails ? 3 frameworks – Product trees – 4 killer questions – The 5Cs model 3 ATCZG002120239CoyneMSTR Unexpected users Heavy users Potential users blocked by one obstacle Potential users who differ in one way from current users Creative bundling to eliminate plements Radical distortions of key value equation ponents New uses for existing products New users for existing products New ways to meet existing needs Stimulating new needs . . .radically modify existing products . . . generate radical increases in existing product sales . . . develop new products Search for killer product ideas by exploring opportunities to . . . Product idea tree 4 ATCZG002120239CoyneMSTR What would it take to make my product at half the cost? Radical distortion of key value equation ponents Can I reduce by half or double my distribution cost? Could I offer my product at 5 times the cost if it had greater feature/function? Could I double my product depth or cut breadth in half? What input, if reduced by