Lerner Building, room 324B
Tuesday, October 18, 2009 5:30pm-8:30pm
The program is conducted like an open forum/round table discussion. Wes Garnett and Steve Roettger, owners of The Verge Business Group, LLC act as moderators. The entire program is 3 hours long. The schedule of events is as follows:
1- Introduction of the program by Wes and Steve
2- Round table discussion about the innovation process. (60min)
-Wes and Steve will introduce their innovation model to the group.
-Dream It, Plan It, Test It, Build It
3- Real business idea from a client of Verge is presented to the class as a working example. (45 min)
-Idea will be stripped of all proprietary information to ensure the safety of the client.
-Group will be asked to apply the innovation process to the idea, as well as test the business model for feasibility. At the end of the process we hope to have built an entire business model from the groups' suggestions.
4- To further delve into the innovation process, Wes and Steve will ask that the group rip apart and build on the previous business model to create the best solution for profitable innovation. (45min)
5- Networking and feedback (30min)
Community Innovation Project is not a Focus Group
Focus groups rely on moderators to lead the group and stimulate discussion without saying too much about what the company wants to hear from the participants regarding their product or service. The moderator must keep the participants focused on the topic, involve all of the participants and encourage group members to react to each others comments to solicit enough input about how the participants view and potentially utilize the product or service. Moderators must work from a guide with an outlined discussion plan. The goal of the group discussion is to provide the company with target market opinions to identify trends; which will lead to sales revenue.
C.I.P is an open forum, round table discussion about the process of successful implementation of profitable business model innovations. Because the seminar is built around an educational model, participants will never be pre-screened. Although we will examine a test case in a focus group like fashion, the manner in which we conduct that portion of the program is far removed from the regimented outline style of focus groups. C.I.P is meant to replicate the pressure entrepreneur's feel as a result of eminent competition. To get a better understanding of this, imagine standing in Blackberry's shoes when Apple's iPhone sky rocketed past 1 million units in the first week of sales. These are the types of dilemmas we will confront participants with; however, we will use real business ideas from real entrepreneurs looking to launch a new and innovative business idea. Unlike focus groups, the outcome of their super charged "innovation-storming" will not be pre-determined. There will be no set questions or right or wrong answers. The goal of this portion of our seminar is to teach the group how to think through complex business issues quickly and decisively. These are priceless skills they will be able to employ for many, many years. In addition to that, the entrepreneur that chooses to put their business idea through the program is given a chance to peer into the minds of their future consumers and leave with a blueprint of how to gain the most traction. Hopefully you will agree that the Community Innovation Project is a win-win situation for all those involved.
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