From ideas to projects

From ideas to projects

Frieda Brioschi / Emma Tracanella [email protected] / [email protected]

IED, 15 Feb 2016Lesson 3/2016

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3. From ideas to projects

Course program

1. Start-ups

2. Ideas in context


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Design

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Design a project

• No ToDo list available

• Every project is different, according to its story, your team, the chosen field, etc.

• We can just identify some good practices and useful tools

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Design a project

Starting a project implies:

• to have clear goals (both quantitative and qualitative)

• these goals must be reached in a fixed time

• using available resources (human and monetary)

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Concept

• Discuss your hunch as much as possible, and evaluate every single feedback you receive.

• If you want to patent your product don’t offer too many details.

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Where do good ideas come from?

http://www.youtube.com/watch?v=NugRZGDbPFU

(il www)

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http://www.youtube.com/watch?v=NugRZGDbPFU


Life cycle

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Planning

Analysis

Design

Implementation

Maintenance

Maturity

Decline


Strategic planning• Prior questions:

• May I make money from my hunch?

• Is it scalable?

• Does it answer to a market need or am I trying to create a demand for my product?

• Have I any competitors?

• Which is my target?

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Product Vs MarketAccording to Steve Blank:

• new product new market

• new product existing market

• "existing" product segmenting an existing market, acting on cost

• new product segmenting an existing market, creating a niche

They differ for consumers, needs, perfomances, competitors and risks.

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http://blog.nicolamattina.it/2011/03/i-quattro-tipi-di-startup-sencondo-steve-blank/


Analysis

• Feasibility study

• Requirements

• Outline analysis

• Financial assessment

• Technology outlook

• Use cases

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Feasibility study• A feasibility study is an evaluation and analysis of the

potential of the proposed project which is based on extensive investigation and research to give full comfort to the decisions makers.

• Feasibility studies aim to objectively and rationally uncover the strengths and weaknesses of an existing business or proposed venture, opportunities and threats as presented by the environment, the resources required to carry through, and ultimately the prospects for success.

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http://en.wikipedia.org/wiki/Feasibility_study


Design

• Physical design

• Performance

• Usability

• Security

• Cross platform

• Certification

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Outputs

• Placement

• Promotion

• Price

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Implementation

• Prioritization of features (must have/nice to have)

• Testing

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Maintenance

• Evolutionary maintenance

• Other possible outcomes: maturity and decline of the product

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From concept to company

• A great team with clear leadership

• Never forget that "content is king“

• Strong business model

• Communicate, communicate, communicate!

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http://marketingarena.it/2011/05/25/5-step-per-costruire-unimpresa-partendo-da-unidea/


Formalization

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Write my projectIf everything is clear and well defined in my project, I can write it down.

Main points:

• Abstract

• Idea (What's the key idea? Which target/market? What's my goals? What's new in my product?)

• Action plan (people, time, space, equipment)

• Team

• Timeline (milestones)

• Budget

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http://www.progettokublai.net/guida-alla-scrittura-del-progetto/


Help needed!

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Business incubatorsBusiness incubators are programs designed to support the successful development of entrepreneurial companies through an array of business support resources and services, developed and orchestrated by incubator management and offered both in the incubator and through its network of contacts. Incubators vary in the way they deliver their services, in their organizational structure, and in the types of clients they serve. Successful completion of a business incubation program increases the likelihood that a startup company will stay in business for the long term: older studies found 87% of incubator graduates stayed in business, in contrast to 44% of all firms.

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http://en.wikipedia.org/wiki/Business_incubator


Seed accelerators• Seed accelerators are a modern, for-profit type of

startup incubator, with an open application process, taking in classes of startups consisting of small teams, supporting them with funding, mentoring, training and events for a definite period (usually three months), in exchange for equity.

• While traditional business incubators are often government-funded, generally take no equity, and focus on biotech, medical technology, clean tech or product-centric companies, accelerators are privately funded and focused on mobile/Internet startups.

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http://en.wikipedia.org/wiki/Seed_accelerator


Target market

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4. Market and Value Analysis 3. From ideas to projects http://sbinfocanada.about.com/cs/marketing/a/targetmarket.htm

Target market

• Who are your customers? Who will buy your product?

• People purchase products or services for three basic reasons:

• To satisfy basic needs.

• To solve problems.

• To make themselves feel good.

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4. Market and Value Analysis 3. From ideas to projects

http://www.successdesigns.net/articles/entry/how-to-define-your-target-market/

Definition

1. Look at your current customer base

2. Check out your competition

3. Analyze your product/service

4. Choose specific demographics to target

5. Consider the psychographics of your target

6. Evaluate your decision

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Evaluation tool: SWOT

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SWOT/1Strengths could include:

• personal and flexible customer service

• special features or benefits that your product offers

• specialist knowledge or skills

Weaknesses could include:

• limited financial resources

• lack of an established reputation

• inefficient accounting systems

27http://www.infoentrepreneurs.org/en/guides/create-your-marketing-strategy/


SWOT/2Opportunities could include:

• increased demand from a particular market sector

• using the Internet to reach new markets

• new technologies that allow you to improve product quality

Threats could include:

• the emergence of a new competitor

• more sophisticated, attractive or cheaper versions of your product or service

• new legislation increasing your costs

• a downturn in the economy, reducing overall demand

28http://www.infoentrepreneurs.org/en/guides/create-your-marketing-strategy/

4. Market and Value Analysis 3. From ideas to projectshttp://sbinfocanada.about.com/cs/marketing/a/targetmarket_2.htm

Segmentation by demographics

• Age: children, teens, young, middle, elderly • Location • Gender: male, female • Education: high school, college, university

• Income: low, medium, high • Marital status: single, married, divorced • Ethnic and/or religious background • Occupation • Family life cycle: newly married, married for 10 – 20 years, with or

without children.

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4. Market and Value Analysis 3. From ideas to projectshttp://sbinfocanada.about.com/cs/marketing/a/targetmarket_2.htm

Segmentation by psychographics

• Personality

• Values

• Lifestyle: conservative, exciting, trendy, economical

• Social class: lower, middle, upper

• Opinion: easily led or opinionated

• Activities and interests: sports, physical fitness, shopping, books

• Attitudes and beliefs: environmentalist, security conscious.

• Behaviour

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Challenges to exporting• Import barriers • Import quotas and currency restrictions • Taxation • Health regulations • 'CE marking' for exports to most European nations • Safety regulations • Environmental standards • Accreditation issues • How you will be paid for your exported products or services • Legal agreements.

31http://www.nzte.govt.nz/en/export/starting-to-export/identify-your-target-market/


Country specific constraints• Tariffs or duties

• Industry regulations

• Political instability

• Business laws

• Intellectual property protection

• Product to market logistics

• Quarantine and regulatory requirements

32http://www.nzte.govt.nz/en/export/starting-to-export/identify-your-target-market/


Research and analysis• target audience

• SWOT

• marketing goals

• positioning

• pricing

• distribution

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• marketing strategies

• communication strategy

• media plan

• schedule

• budget

• tracking and evaluation


Here’s the problem with target markets: They’re too big.

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http://www.inc.com/guides/201104/how-to-narrow-your-target-market.html

Narrowing your target market

"Companies that try to be all things to all customers are sure to fail.”

• The Dangers of Being Unfocused

• Become an Expert in one Area (Starbucks!)

• Do the Market Research

• Tweak your Marketing

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3. From ideas to projectshttp://www.educationbusinessblog.com/2007/07/target_market_selection_1.html?p=42

Matter of balancing

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