How many of us in every day life see opportunity all around us? Opportunities to improve in an industry, improve a business, or build a new product or service? Statistics show that more than 75% of people see opportunities almost every day. We all have ideas. But the difference between the Marc Zuckerbergs of the world and just the average person on the street, is the ability to turn that opportunity into an idea, that idea into a business. Remember that Facebook’s early years weren’t a great business. It was just cool. But over time, it was able to work on the humane desire to build a social fabric, the connection with other individuals which created something more powerful, more meaningful in society. It directly worked with the core human need of belongingness.
The challenge we have is, when we see an idea, how do we document it? How do we structure it in a way that we can share it, test it, pursue it? How do we believe in it enough so that we will dive head first into the world of entrepreneurship to pursue that idea, if even it’s only part time. One of the simplest ways of making an idea, testing an idea’s meaningfulness to society, is a simple process of ideation:
1. Understanding who is your customer?
2. What are they trying to achieve?
3. What are they already doing in an attempt to achieve that goal?
4. And lastly what pains, barriers, or obstacles are they facing in achieving that goal?
Those pains and barriers could be affordability, accessibility, training or intelligence requirements, a technology missing. This is where we come in, this is where opportunity really starts to manifest as we see what’s needed to help these people pursue that desire. This could be as simple as wanting a pink drink product. It could be as complex as a new medical device. Whatever it does, it needs a deep connection with a human need and a market need before it’s even worked on, before it’s invested in heavily with technology or capital venture.
We need to know that there’s actually a validated market need, this is when we explore opportunity problem fit. This is about saying that we believe that there is an opportunity to solve this problem in this world. This is asking fundamental questions such as, is there enough people that have the problem? Do people want the problem to be solved? Will people pay to have the problem solved for them? These three key questions I cover in my latest book, “Innovation Wars.”
In my latest book, Innovation Wars, I lay out the Ideation Tookit. A simple way to document your idea, and understand the key components and areas of assumption. Putting you in the position to test what matters. You’ll get the Ideation Toolkit and more when your order my book on Publishizer.