Flashcards in Chapter 15: Finding Good Ideas Deck (25):
What are the 2 keys to finding good ideas for products and services?
Engaged observation and asking the right questions.
What is an OYSTER?
Broad focus. Look for pain points with no particular specificity in mind. Wait for things to "come to them." Look in successful markets.
What is an EAGLE?
Narrow focus. Leverage their expertise in a specific category. Look for pain points in familiar places.
What do OYSTER ENTREPRENEURS ASK?
1. Name some great products that have annoying little problems.
2. Describe some bad or annoying services experiences you've had recently.
3. Which product purchases have you regretted the most?
What do EAGLE ENTREPRENEURS ASK?
1. I know it is not possible with _____ product, but if it was possible, I sure wish I could______.
2. What keeps you from really enjoying________product?
3. If you could change one thing about _______ product, what would it be?
What is the IDEATION PROCESS?
1. Select a problem area
2. Identify and explore the problem
3. Propose and test alternative product ideas
4. Perfect the top product idea
What is the WOW! Factor Rating System?
0-4 = People are just being polite
5-7 = There is hope, keep pitching, listening, and adapting
8-10 = You may have a winning product
10 = Here is my credit card!
What else must be tested when you measure WOW! Factor?
Test whether you've found a love group.
Define WHITE HAT
Facts about the product, service, or people that might use it.
Define RED HAT
Emotional, gut reaction to the product or service. (1-10 scale)
Define BLACK HAT
Perceived shortcomings or objections to the product or service.
Define YELLOW HAT
Perceived benefits or positive support for the product or service.
Define GREEN HAT
Ideas for improving the product or service.
Define BLUE HAT
Summarizing the process or lessons learned and takeaways
What is the GENERATING IDEAS protocol?
What is the COMPARING ALTERNATIVES protocol?
What is the GENERAL PROBLEM SOLVING protocol?
What is the QUICK FEEDBACK protocol?
What is the EXPLORING A SINGLE IDEA WITHOUT COMPARISON protocol?
What is SOLVE EVERYDAY PAIN?
Hard to ignore pain that people experience that give customers a strong need to believe and a strong willingness to overlook the risk associated with purchasing a new product from a new company. Must fit in with routine.
What is STRETCH OR ENTERTAIN TO THE EXTREME?
Jet Packs example
What is RIDE WAVES OF INTEREST
Tapping into engaged buyers that are already on the lookout for ways to make their favorite products better.
What is COOL HUNTING?
Hunting down and borrowing ideas from other countries and cultures.
What is angle sharpening meant to do?
Meant to challenge the product and improve it, NOT to choose between winners and losers.