Ideas

Passion

Fad

Transformation – success replicated in another geography

Steve Jobs was the 4th company with iPod that succeeded, rest earlier ones failed.
Timing in the Fads matters a lot – high risk.

Eg. Starbucks – business successful somewhere

Q: Why this idea didn’t appear before? Times and culture - acceptance at some stages.
Disruption:

You may discupt the market but may not have any greater quality, etc.

Customers may not take new tech. – buyers’ inertia. Difficult to accept something new – don’t know
where the buttons are, forces them to change habits

Problem Solving:
Important point is value addition by Value pricing

Better sold with Value Creation. Eg. Water bottle in Sahara desert can sell at much higher prices.

Value Pricing

Ask 3 questions:

1. Many years form now, will it matter?

2. Can someone else do it better?
3. Can I get the resources?

KB Homes  resources available from Govt., immediate TAM available,

Started SunAmerica for retirees.

Industry - Supply Chain: Can we get the resources, staffing, inventories, production unit, low cost set up?
Need to have their cost right.

Q3: If the solution is so good, then why hasn’t this been done before? Lack of tech./ infrastructure/
costs?

While brainstorming the idea, Opportunity and threats are outside of your ecosystem, your environment
yet.

What is in your ecosystem? Passion and motivation can cloud your mind if not done the analysis rightly.
After C  Business Plan
This motivated him  just as a hobby
MVP

What’s the market ready to pay for a Solar umbrella?

dogfooding
noun
1. the use of a newly developed product or service by a company's staff to test it before it is
made available to customers.
"if you're writing software intended for other developers then dogfooding makes perfect
sense"
PMF: Product Market Fit
Find and Go to Beachhead market – Pre-WWII: A strategy by Allies

Easy to attack, easy to fortify, expand from there as tangential. Can be small and scalable.
Suppliers, investors, inventors, partners, employees, customers need to be available at the same time
Experts are predictive in the solutions that are R&D senstivie. In vice – versa, it is only random
guesswork
Steve Jobs – People don’t know if they need something unless shown to them.

Not invented products with focus groups or market analysis.

Eg. Of In & Out  in US  opened in China.

From soundar to Everyone 07:10 AM

Herbalif

Herbalife

Diet models

From soundar to Everyone 07:26 AM

Lot of sugar based snacks still successful even though these products can be harmful to health ?

Its because of people don’t change?

From Me to Everyone 07:27 AM

Buyers inertia is since people feel being forced to change their habits

From Navin Rane to Everyone 07:38 AM

in the earlier slides you did mention that there were other mechanisms of idea generation but in this
slide you suggested that first we should look outside ( solve a problem). so from the earlier slide, are you
indicating that "solve a problem" is the one that works best?

Got it professor

yes

From Me to Everyone 07:44 AM

Minimum viable product

From Kartikey Pandey to Everyone 07:48 AM

Would it be worth thinking that the MVP is also marketable to users?

From Me to Everyone 07:49 AM

Some products are developed in Agile manner

Test in the market, get feedback and improve

From Navin Rane to Everyone 07:51 AM

on cost, is it mandatory to verify If the MVP is profitable? once we have a substaintial mass the cost can
be reduced.

From Abhishek GR to Everyone 07:51 AM

There's dogfooding as well.

In product development.

From Prathyusha Pavuluri to Everyone 08:04 AM

Does customer adoption for PMF change based on the product

From Kothakota Shanthi swaroop to Everyone 08:05 AM

Among them whom should Company or Entrepreneur should target as Target customers

From soundar to Everyone 08:07 AM

Nokia has launched two feature phones even now because there are some people still use them

India market

From Prathyusha Pavuluri to Everyone 08:11 AM

Thank you Professor

No market ?

From Navin Rane to Everyone 08:11 AM

there were no applications

that needed GUI

From soundar to Everyone 08:11 AM

They were not able to package it

From Me to Everyone 08:13 AM

1997 didn't have Covid :-)

From Navin Rane to Everyone 08:13 AM

bandwidth

From soundar to Everyone 08:13 AM

It was used only in big corporates

From soundar to Everyone 08:20 AM

yes

From Abhishek GR to Everyone 08:20 AM

Yes.

From soundar to Everyone 08:25 AM

I am feeling like VC’s are like the Russian roulette Players :)

yes
From Eswar Sangati to Everyone 08:25 AM

Yes

From Jovanna Radillo to Everyone 08:26 AM

Thank you professor

From AadityaTrivedi to Everyone 08:26 AM

Thank you Professor have a great day

From Navin Rane to Everyone 08:26 AM

This has been a nice session. Thank you again

From Me to Everyone 08:26 AM

Thanks Prof.

From Oendrilla to Everyone 08:26 AM

Thank you professor

From Abhishek GR to Everyone 08:26 AM

Thank you, Professor. Insightful session.

From Lindon Saldanha to Everyone 08:26 AM

Thank you Professor

From Om to Everyone 08:26 AM

thanks professor

From Kartikey Pandey to Everyone 08:26 AM

Thanks Professor.

From Me to Everyone 08:26 AM

One framework that can thrash out all ideas?

From Vandana to Everyone 08:26 AM

Thank you

From swadhini parambath to Everyone 08:26 AM

Thank you Prof.

From soundar to Everyone 08:26 AM

Thanks Prof

From Eswar Sangati to Everyone 08:26 AM

Thanks Professor

From Rohit Arya to Everyone 08:26 AM

Thank you professor

From SHIVAM DUBEY to Everyone 08:26 AM

Thanks Professor !!

From Me to Everyone 08:26 AM

One framework that can thrash out all ideas?

From Jovanna Radillo to Everyone 08:26 AM

Love your look on the subject !!

From Abhishek GR to Everyone 08:26 AM

If Silicon Valley has any more prophets other than Steve Jobs, we’d love to hear about them as well.

From Rocio Gomez to Everyone 08:27 AM

Thanks Professor

From Abhishek GR to Everyone 08:27 AM

Infalliable instincts, etc.

From Subhadeep to Everyone 08:27 AM

how to analyse if transportation idea works in other geography

From Prasad Dandekar to Everyone 08:27 AM

Thank you professor

From Vandana to Everyone 08:28 AM

Also some new examples relevant to current market will be useful

From Oendrilla to Everyone 08:29 AM

Experience

From Navin Rane to Everyone 08:29 AM

yes, execution. people typically go to same outlet

From Me to Everyone 08:30 AM

what's the point of return when you have already moved on with MVP. Is it if you aren't getting from
early adaptors to early majority?

Thanks Prof.
From Navin Rane to Everyone 08:31 AM

McD wont be able to afford good quality wagyu too