Download - Tcm concept discovery stage introduction
“Fast Track to Commercialization”
… how to discover your One Million Dollar Business (1mdb)
Stephen OngVisiting Professor, Shenzhen University, PRC
Academic Fellow in Entrepreneurship & Innovation, Anglia Ruskin University, UK
3 August 2016
2
Today’s Agenda• 9:00 Intro : Who wants to be a Millionaire?
• 10:00 Step 1 : Mapping out my Great Idea• 12:00 Step 2a : My secret love affair
• 13:00 Have an AMAZON Lunch
• 14:00 Step 2b : Let’s Go Shopping• 15:00 Step 3 : Ask me about my One Million
Dollar Business
So you want to be a MILLIONAIRE?
A27 year old graduate
in Electrical & Electronic Engineering
from local Technical College, with 7 years working experience.
With a partner, started up a computer repairs shop to make
Chinese language computers in Chinatown.
B26 year old drop-out from local university,
working with a company making
calculators. With a partner, started making
computer parts at home for a newly opened computer
shop.
C20 year old drop-out from local university, working with a local software company. With two partners,
started up data processing service for
local government using computers at the school library.
A6,000
(from combined savings)
B1,300
(from sale of car)
C25,000
(from Family)
A27 year old classmate from local Technical College, holder of
Diploma in Electrical & Electronic
Engineering. He holds strong beliefs in living life without regrets and making the world a better
place.
B26 year old high school leaver, from average family, whose step-father is a mechanic and carpenter. He has been a drug user, a follower of Eastern religions like Hinduism and Buddhism, and always short of money. He believes in changing the world.
C17 year old drop-out from local university, working with a local software company. He comes from a
middle-class family and strongly believes
in intellectual property rights.
A• Copied 2
patents from US Competitor and had to buy Company.
• Owned 1 patent copied by US Company and wins damages.
B• Copied 1 patent
from US Company• Copied 1 patent
from foreign Company and legally forced to pay damages for licence.
CBuys 1 exclusive licence from US Competitor and
sells non-exclusive
licences to customers.
AA 60-year old company with a network of
3,000 computer
stores
BA new local computer store and friends.
CA 70-year old company with its own sales
force, own stores and
reseller agents
A232m
Customers in USA
B0.3m
Customers in USA
C6m
Customers worldwide
“…if we don’t invent the right thing,
someone will invent the right thing.
So let’s go invent that thing”
Reid Hoffman, founder of LinkedIn with four friends, starting with 6,000 customers, 10 years
ago. Today, a US$20B company with 225m customers.
Is your FACE,your FORTUNE?
A B26 year old drop-out from local university, working with a local company making calculators. With a partner, started up small manufacturing of computer parts at home for local newly opened computer shop.
C20 year old drop-out from local university, working with a local software company. With two partners,
started up data processing service for
local government using computers at his parent’s school.
A B C
B
From $1 to $1.0 Million
1 2 3 4 5 6 7 8 9 1 0 1 1 1 2 1 3 1 4 1 5 1 6 1 7 1 8 1 9 2 0 2 1
1 2 4 8 16 32 64 128
256
512
1024
2048
4096
8192
1638
4
3276
8
6553
6
1310
72 2621
44
5242
88
1048
576
THE COMPOUNDING EFFECT
For those chosen few out of MINDS,
there is the ...
SPACEprogramme
The Technology Commercialisation Model
CONCEPT PHASESTAGE 1 : DISCOVERY
CREATION PHASESTAGE 2 : DO-ABILITY
STAGE 3 : DESIGN
STAGE 4 : DEPLOYMENTCOMMERCIAL PHASESTAGE 5 : DELIVERY
STAGE 6 : DOMINATION
The Technology Commercialisation Model
SCIENCE & TECHNOLOGY MARKET ENTERPRISE / BUSINESSCONCEPT PHASE
STAGE 1 : DISCOVERY Step 1 Technology Analysis
Step 2Market Needs Analysis
Step 3Venture Assessment
CREATION PHASESTAGE 2 : DO-ABILITY Step 4
Technical FeasibilityStep 5
Market StudyStep 6
Economic Feasibility
STAGE 3 : DESIGN Step 7Engineering Prototype /
Pilot Plant
Step 8Strategic Marketing Plan
Step 9Strategic Business Plan
STAGE 4 : DEPLOYMENT Step 10Pre-production Prototype
Step 11Market Validation
Step 12Business Start-Up
COMMERCIAL PHASESTAGE 5 : DELIVERY Step 13
ProductionStep 14
Sales & DistributionStep 15
Business Growth
STAGE 6 : DOMINATION Step 16Production Support
Step 17Market Diversification
Step 18Business Maturity
The Technology Commercialisation Model
Dimensions SCIENCE & TECHNOLOGY
MARKET ENTERPRISE / BUSINESS
CONCEPT PHASE
STAGE 1 : DISCOVERY
Step 1 Technology
Analysis
Step 2Market Needs
Analysis
Step 3Venture
Assessment
“Is your product new, unique, and technically feasible?”
Innovation SPACE™ Technology Commercialization ModelPhase 1 : CONCEPT
Stage 1 : DISCOVERYStep 1 : TECHNOLOGY ANALYSIS
“Does your product meet a clear market demand or solve a
problem?”
Innovation SPACE™ Technology Commercialization ModelPhase 1 : CONCEPT
Stage 1 : DISCOVERYStep 2 : MARKET NEEDS ANALYSIS
“Will your product or venture opportunity make a profit?”
Innovation SPACE™ Technology Commercialization ModelPhase 1 : CONCEPT
Stage 1 : DISCOVERYStep 3 : VENTURE ASSESSMENT
We must set our Goals today
Let’s Begin …https://www.youtube.com/watch?v=U_36RmBw5hA
Have an Amazon lunch …
… time for walkabout
CONCLUSION
Do we make the RIGHT Choices?
AHe associates with crooked politicians, and consults with astrologists. He's had two Mistresses. He also chain smokes and drinks 8 to 10 martinis a day.
BHe was kicked
out of government twice, sleeps
until noon, used opium in college
and drinks a quart of whiskey every evening.
CHe is a decorated war hero. He has strong religious beliefs, a vegetarian, doesn't smoke, drinks an occasional beer and never cheated on his wife.
A B(
C
-₤21B(1945)
-$320B(1945)
-$251B(1945)
QUESTIONS
... or CHOW
THANK YOU