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Dr. Rajiv Tandon

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Opportunity Identification Process

Dr. Rajiv Tandon Aug 27, 2015 · 7 min read

In several previous Posts I have attempted to set the foundation level arguments
that lead up to the 9 Step Opportunity Identification Process. A brief recap of those
previous posts would be beneficial at this point with a short discussion for their
relevance.

You may go to the original posts to get a more detailed argument leading up to the
conclusions.

All Images: 123rf.com

Post 1: Lessons from Nature: Time to Be Wasteful:

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Nature is not concerned about efficiency,

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because it has to be effective for a very long
time and ride the evolutionary changes. It
proliferates combinations that seem
wasteful, on surface, but also provides a 1
in a million chance that the one innovative
combination will actually advance the
species. It accepts a high “failure” rate, and
the extinction of a dominant species but continues to go for that one chance.

In a brilliant design even the waste ends up not being a waste after all but provides
sustenance to the existing species.

Post 2: Generate Good Ideas: The Worst Thing You Can Do

A session for generating “Good Ideas”, contrary to expectations, will generate, at best,
more-of-the-same ideas. Not what you need to solve “sticky” problems.

Generating seminal Ideas is a two step

process. In Step 1: We generate lots of ideas
without analysis or comments. Quantity
rules. and Step 2: After generating a lot of
ideas, set aside the ones that are not
opportunities for you now. After
discarding, through this screen, you have a
mother load of “Key” ideas that are likely to
contain a higher quality solution to the
problem (or an opportunity) .

It may seem inefficient but it is a more effective method of solving knotty problems.

Posts 3–6: 4 Part Series on Problem Solving Methods.

The series of 4 Posts describe a variety of problem solving methods using various
Ideation disciplines and detailed steps of accomplishing that. Exemplars and various
techniques are also provided.

The purpose is consistent with the need to generate a large quantity of Ideas.

Post 3: Help: How do I get out of this Mess?

Variety of ways of tackling problems:
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1. Rational Methods ( Logical, Left Brained),

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2. Intuitive Methods (Creative, Right Brained), and

3. Hybrid Methods (Rational+ Intuitive, Whole Brained)

Post 4: Scientific Method: A Saner

Way to Go?
Rational Methods: derivatives of the
Scientific Method with Exemplar and
Various Processes.

Recognize a need

Define the Problem

Develop a solution, to test

Develop a method to test viability of solution.

Image from Center for Creative Leadership Apply the methodology.

Compare the results with the expected results

Summarize the findings

Post 5: Off the Wall Solutions:

Intuitive Methods: Derivative of the Creative process with Exemplar and Various
Processes.

Problem Description

Incubation

Illumination

Verification

Post 6: You Have a Brain, For Heaven’s Sake Use All of It:
Hybrid Method: with Exemplar and Various Processes.

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Recognize a Need.

Define a Problem

Develop an Initial Solution

Divergent Thinking

Convergent Thinking

Develop Methods of Testing these “Novel” Alternatives.

Apply methods and Test Feasibility.

Select the Best Alternative.

Post 7: Ideas are Dime a Dozen, Opportunities are Priceless

After you generate a large quantity of ideas, how do you search for the ones that may
be an opportunity. It is like finding a needle in the haystack. The process can become so
cumbersome that it compromises the process.

A simple screening question: Is this Idea an

Opportunity for me (us) today (now)?
without any analysis cuts the list down
efficiently to an enriched list of Key Ideas.

Post 8: 5 Different Responses in

an Era of Hyper-Change: Only One
Path Forward:
Hyper-change of today and in the near
future has changed the business situation. The problems that leaders were used to
tackling are themselves changing. The prior solutions, and thus their experience in

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solving them, are getting extinct. At the same time entrepreneurship is exploding and
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prospering in this climate.

The climate today can be considered

hostile to status quo and conducive to
disruptive change akin to the “event”
observed in Nature that wiped out
dominant species.

Of the several common responses to

change, only the entrepreneurial response
is befitting in the conditions of hyper-
change. The entrepreneurial process provides the dynamic equilibrium to negotiate
and prosper in hyper-change.

Post 9: Innovation Process: Ideas to Opportunity

Bureaucracy and Efficiency are two progeny of the same parent -Process. It is the
intention and rationale of the Process that separates the bureaucratic from the
efficient.

are shy of a process and prefer to wing it,

what we learn from the successes in the
Entrepreneurial community is a Step-by-
step process for innovation. We can refine
it for more for entrepreneurial success, but
also adapt it for launching ideas to fit in
with the corporate Gating processes.

This process can be used by a Large

company, A Division or a New Venture, that
has been successful in planting its roots.

Design of the Opportunity Identification Process

Innovative combinations are being generated by entrepreneurs. They search for ideas
from anywhere. This process is open and understood and is now being replicated.
Since, more-of-the-same-ideas has no future for them, against well endowed predators,
they look for the disruptive ideas that are out of the main stream.

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Even with low odds, like Nature, they don’t

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stop with the high failure rate, and keep
trying again and again for that one chance
to develop that innovative combination.

The process proposes that we learn to

generate a large quantity of ideas,
without regards to their quality, using a
variety of problem solving tools and idea
generation methods .

Some of these ideas will be absurd, many

simply incremental- more of the same, but the effort is to find that 1 in a million
chance to find the killer idea for prosperity with changing circumstances.
Meanwhile, the incremental ideas will provide sustenance to our present enterprise.

Opportunity Identification Process Steps.

It is an effective tool to steer numerous ideas from a broad range of perspectives before
we consider them worthy of being an opportunity to be taken forward.

The process uses a series of self assessment

questions, called screens or cuts to enrich a
series of ideas to increasingly high-
potential opportunities. If the idea “fails” to
pass the screen it is set aside from further
consideration. It is not discarded because,
as we will see later, it may have a bearing
on another idea that is moving forward.

Opportunity Identification process enables

groups or individuals to screen a large
volume of ideas quickly and methodically.

The process identifies high-potential ideas to rise by allowing weak ideas to fail quickly
and inexpensively, on paper instead of in the lab or the real world.

It also strengthens emerging concepts and

provides a method to insert a flow of other

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ideas, that are triggered by the review,

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back into the process.

The 9 steps in the Ideas to Potential Opportunity are:

1. Generate a Large Quantity of Raw Ideas

2. Question: Is it an Opportunity?

3. Preliminary Screen: How Good is This Idea?

4. Other Screen: Does It Fit?

5. Second Cut: Internal Issues

6. Third Cut: External Issues

7. Final Cut: Enhancing the Idea

8. Reporting: Preparing the Idea for Gating Process

9. The Result: A Potential New Opportunity

I will describe each element in detail in the next series of Posts. Meanwhile your
suggestions, Questions and Comments are invited.

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Dr. Rajiv Tandon is an Entrepreneur, Educator and Mentor. He facilitates peer

groups for CEOs of fast-growing companies in Minnesota. To learn more, sign up to
get the email newsletter.

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