A1 Ideas: Generating Value Propositions
Innovation is fueled by generating many ideas, not just focusing on one idea. For this project, students will learn techniques for making sense of current trends and for exploring answers to the question "How can we leverage technology to create innovative services?" Each student will propose a set of rough and diverse startup ideas, in order to find teammates and to kick-start the innovation process.
Students will complete this as an individual assignment.
Create a PEST (Political, Economic, Social, Technology) Analysis
Understand key trends in startups
Specify value exchange with a Value Flow diagram
Materials and Tools
Cagan & Vogel on Creating Breakthrough Products, Ch. 1.
Friedman (2013 Jul 20). Welcome to the ‘Sharing Economy’, NY Times.
Tools for tracking innovations, startups, and other trends:
Optional readings and talks
Osterwalder on Business Model Canvas, pp 1-50. Business Model Generation, pp 56-125.
Normann, Rebundling, how to re-arrange an old business
Porter and Heppelmann, How Smart, Connected Products are Transforming Competition
Christiansen, Disruption, how to challenge an old business
Sinfield, et al., New Business Models, how to re-arrange an old business
Jones and Samalionis, From Small Ideas to Radical Service Innovation
Bill Buxton talk: An Informal Walk Through 35 years of Interactive Devices.
What To Do
Creating PEST Analysis: Discuss the current state of the world and create a PEST analysis that represents the potential business opportunities for this year.
Generating ten ideas: Brainstorm to create about ten ideas for new innovative mobile services. Try to base your ideas on elements of the PEST analysis. A natural way to start is to remember an experience that could be improved or a recurring problem you would like to solve. Record the idea in the form of a written scenario about how people with a goal achieve it using your imagined service.
Analyzing competing solutions: Similar services that already exist. Spend no more than an hour for each idea. Analyze them to assess their success and shortcomings. If you don't see a way to beat the existing services, abandon this idea. In either case, record what you learned and cite your sources with the link to where you found your information.
Choosing an idea and creating a value proposition and user scenario: Consider the good or bad things about each remaining idea and the problems in implementing them. Choose the best one, possibly combining some, and create a value flow model. Also, elaborate your written user scenario to include details about the intended user, the problem faced by the user, and how the proposed solution will help overcome this problem.
Creating and rehearsing a short pitch: Based on your value proposition model and user scenario, create and rehearse a pitch. (1 minute maximum; practice!)
From the Important Links page, follow the A1 folder link to create a Google Drive folder for yourself. Put your work in it, except for items you wish to keep private. Name the folder with your last name, followed by first. Your folder should include a Google Slides presentation that summarizes your PEST factors, your list of ideas, your research on competing solutions, a user scenario, and a value proposition model. This will be an in depth explanation of your one minute pitch. Good examples of A1 from past years: Rent-A-Swag, Emporium, The Honest Politician.
For your 1-minute pitch on Tuesday of Week 2, you made include a single slide inside this Google slide deck. Make sure your slide includes your name! Also fill out the information in this spreadsheet. Make sure your description is only one sentence!