Community Innovation Project

University of Delaware Venture Development Center
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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Very Cool Microsoft Surface

Vision + Mission = Change The World

While watching a documentary about the life of the great Michael Jackson, I was struck by something one of the commentators mentioned about Michael. Before Michael even starting working on his record breaking, multi-award winning album, "Thriller", the gentleman said Michael literally saw himself breaking records. He would tell everyone he was going to release the biggest album of all time months before he recorded any of the music. Michael went as far as writing the success of the album on his mirror so he would see it every morning. He would religiously repeat it to himself as he stood in the mirror. In the end, Michael completely reinvented the way music has been recorded, produced and performed forever.

The fervent reiterations of success Michael subjected himself to may be a bit much for most people; however, if we take a moment to dissect the process that Michael put himself through, we should see the most fundamental elements to the innovation process, vision and mission. Michael committed himself to his vision statement- "I am going to release the biggest album of all time", then developed a mission to help himself accomplish his goal (repeated the vision everyday, produced flawless music, etc.). Because Michael never gave himself a chance to see or think anything less then excellence he accomplished his goal. I would suspect that it was in no way an easy thing to do, but if Michael saw himself in the winners circle I'm sure he knew the sacrifices that needed to be made.

As entrepreneurs, we're faced with just three choices...fail, blend in or change the world. To accomplish that goal, it is extremely important that a clear vision and mission are distinguished. Michael gave us a perfect example of how the process should look. It's a great lesson from one of the greatest human beings to walk the earth. He will definitely be missed by all that knew him.

R.I.P Michael Jackson!

It's All About Leverage!!

We came across this article in Inc. magazine today. Innovation can come from anywhere if you allow it to. The secret is learning how to spot profitable opportunities in the midst of frustrations and/or doubt. The research and development team pulled it off with flying colors. Not only did they solve their problem, they saved a ton of time and money! You don't have to be a rocket scientist to figure out how valuable this path to innovation can and will be to your company.

Take a few moments to enjoy the article if you haven't read it yet. We're sure it will change the way you grow your business forever.

What is Real Innovation

If you've read through our other posts, you'll notice the repeated use of the term "real entrepreneur". We won't get into the complete definition of what that term means to us today, but we will introduce the only matter of business entrepreneurs should worry themselves with; real innovation.

"Real" Innovation rarely happens accidentally or sporadically throughout the career of a real entrepreneur. http://www.realinnovation.com/content/what_is_innovation.asp

"Real" Innovation is accomplished consistently and systematically, given the true voice of the customer and a process for delivering solutions. Companies that innovate successfully do so using an efficient and repeatable methodology. Success is not dependent upon genius – it emerges from the disciplined application of a proven innovation methodology"

So what is a "proven" methodology? While there are quite a few methods that are generally excepted as a reliable means to real innovation; Breakthrough and Open Source innovations are among our favorites.

Breakthrough innovations occur when a product or service disrupts the current state of a market-think iPhone and Google Docs. Open Source innovations are innovations which also which disrupt the current state of the market but are derived from both internal and external sources; meaning, a company will "open" the innovation process to a group of people and draw on their input to innovate a product or service. Eli Lilly is a great example of a company utilizing an open source platform to solve complex problems involved in the innovation process.

Despite whatever your innovation method of choice might be, accomplishing "real" innovation must at a bare minimum 1) improve the life of your customer 2) have a measurable return on investment and 3) strengthens the brand(s) of the company.

Check out the slide show in our previous post to get your self started. Of course we're always available to answer your questions.


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Business Model Innovation Matters

Check out this SlideShare Presentation....this is a great way to get your business moving down innovation road.

ENJOY!!

Business Model Innovation Matters

View more OpenOffice presentations from Alexander Osterwalder.

Weekly...Monthly...Whatever.

Those are pretty much our thoughts 0n blogging. We started this with the best intentions; we had hoped to keep fresh content flowing every week; excuse...excuse...excuse. To be honest with all of you, we're really not that into the whole blogging thing.

*Gasp* *Shock & Awe*

Before you grab your pitch forks and throwing stones consider this:

So much attention is given to the places information and social technology can take a business, we've seemed to have forgotten the power of simple one on one conversation. As we tell many of our clients, we are a business built on real relationships with real people. Once a firm understanding has been found we weave in technology as it becomes appropriate to the tasks at hand. We won't say that every business should run this way but what should be noted is that the power of a hand shake shouldn't be forgotten.

On the other hand, we need to be more responsible. We are a firm that has a lot to offer and during prime transitional times such as these, we need to be more vocal about the beautiful opportunities intelligent business strategies can bring both of us. For what it's worth, please stay tuned in.

Until next week friends....