Turning an idea into a profitable finished product

Turning an idea into a profitable finished product

Transcript

1. Turning an idea into a profitable finished product Hani Gamal
2. Establish Success Your Idea Clear Vision The will to create the future Emphasis on teamwork/cooperation Reinforces Influences AFFECTS Establish Elements Establish Elements Establish Elements
3. Forming Ideas #1 Research Research Gather & Gather & Refine Refine info. info. Core Idea Core Idea to Scenario to Scenario Define Define SWOT SWOT Define Define Requireme Requireme nts nts Feasibility Feasibility
4. Research, Gather & Refine Information • Understand the concept, clear and define the research goals • List proper keywords • Manipulate search phrase with your keywords to get the best results • Scale your research bit by bit, this will help you refine your information
5. Core Idea to Scenario “Prototyping” • Prototype is not a proof of concept it is a minimal shape of your product/service but it is not a product or service • Know that your prototype is better than thousands of words and presentations • Clear your core functionality whether product or service • Make a “Scenario” out of your core functionality • Create “cases” of the problem • If right then all “cases” will lead to your solution • otherwise you need to find an alternative solution or workaround – if that happens don't panic it is a good sign that you can see the flaws of your upcoming product/service
6. Alternative Solutions & Workarounds • Both depends on your creativity • Finding alternatives almost about bending your first solution a little bit • Research skills is a key point here • Workarounds almost done because of a threat of some limitation of technology
7. Feasibility • Idea Scope • Well stated problem is half solved • Current Analysis • Used to define and understand the current method of implementation • Requirements • How requirements are defined depends on the object of the project's attention • The approach • The recommended solution or course of action to satisfy the requirements • Evaluation • Examines the cost effectiveness of the approach selected
8. Choosing the right technologies • It does what you need! • Wisely fit your resources, money and human • Never choose something because its “free” or it has some “offer” • Choose the less customization but customizable, more configuration and make sure you can customize at least without a 3rd party involvement • Scalability and long-term life cycle • Wide known technology over the new ones, well documented is a must and large community is an asset
9. Define SWOT • Strengths • Weaknesses • Opportunities • Threat
10. Elements of SWOT • Strengths: characteristics of the business, or project team that give it an advantage over others • Weaknesses (or Limitations): are characteristics that place the team at a disadvantage relative to others • Opportunities: external chances to improve performance (e.g. make greater profits) in the environment • Threats: external elements in the environment that could cause trouble for the business or project
11. Know Your Plan • Everybody likes plans that presents lots of information in as few words as possible. • 15 to 20 slides will be more than enough including the following: • Business Purpose: one sentence only • Problem & Solution: use cases • Why now? • Marketplace & Market Size: larger is better • Competition: list your advantages • Product/Service: define your development road-map • Model: how you'll get revenue, pricing, pipeline • Team: DNA of your company • Financial
12. Start-up Success Elements • Clarity of purpose, company's mission statement • Large market & rich customers • Focus on a product or a service • How important/valuable is your product/service to your customer • Team is the company's DNA, this should be formed in the first 90 days, “A” class founders attract an “A” class team • Agility will usually help beat-out large companies • Spend only on priorities and maximize profitability • I see that the main success for a start-up is to be an enduring company
13. Achieve Success Elements Brainstorming Teamwork Time Management
14. Define The Best Tools Fulfill your ambitions with Fulfill your ambitions with Open Source Open Source
15. Recommended Tools #1 • Brainstorming, Mind Mapping & Research • Desktop – Xmind http://xmind.net – Freemind http://freemind.sourceforge.net – ViewYourMind http://sourceforge.net/projects/vym/ – Visual Understanding Environment http://vue.tufts.edu/ – Compendium http://compendium.open.ac.uk/institute/index.htm – Blumind http://blumind.org • Web based – Mindmeister (Paid) http://mindmeister.com – Bubbl.us http://bubbl.us – Mind42 http://mind42.com – Wisemapping http://wisemapping.com – Dabbleboard http://dabbleboard.com
16. Recommended Tools #2 • Teamwork & Project/Time management • Web based – Google Docs, Google Apps :) – Open Atrium http://openatrium.com – ProjectPier http://projectpier.org – Project2manage http://project2manage.com – Basecamp (Paid) http://basecamp.com – Campfire (Paid) http://campfire.com • Communications – Spicebird http://spicebird.com – Skype :)