PCA12 - Converting Bright Ideas Into Business Opportunities by Dr. John Vanston - TFI 2-15-14
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MINITRENDSMiniTrends
Converting Bright Ideas into Business
Opportunities
John H. Vanston, Ph.D.Chairman
Conference Chair, MiniTrends 2014Author, MINITRENDS: How Innovators & Entrepreneurs Discover & Profit From Business & Technology Trends(512) 258-8898 ● www.minitrends.com ● www.tfi.com ● jvanston@tfi.com
Copyright © 2014, John Vanston/Carrie Vanston, Technology Futures, Inc.
February 2014
2014
MINITRENDSMiniTrends
I. Attractiveness to Business Community
II. Attractiveness to You
MINITRENDSMiniTrends
Business CommunityExcites Enthusiasm
Opens up opportunities
Special Differentiating Factors
MINITRENDSMiniTrends
Identify Emerging Market Needs
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MINITRENDSMiniTrends
Issues
What special advantages for user? What problem solved? What new capabilities? How needs now being satisfied? How much improvement? How can improvement's be
demonstrated?
MINITRENDSMiniTrends
Size and Nature of Potential Market
Define markets MiniTrend can serve Consider future markets Consider ancillary markets Consider social implications
MINITRENDSMiniTrends
Where in Development Process?
MINITRENDSMiniTrends
Determine where in MiniTrend is in the Emergence Process
Fisher-Pry Substitution Model
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0 5 10 15 20 25 30
Time
Pe
rce
nta
ge
of
Ins
talle
d B
as
e Fisher-Pry Model
Source: Technology Futures, Inc.
PercentageNew
y(t) =1
1 + e-b(t-a)
Basic F
P C
harts 2004
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MINITRENDSMiniTrends
Impact of Exogenous Factors
Advantageous
Disadvantageous
MINITRENDSMiniTrends
Early Indicators
• Laboratory discoveries portend new technologies
• Special group formations portend new social attitudes
• Declared political positions portend new laws and regulations
MINITRENDSMiniTrends
Personal Attractiveness• Clarify personal interests
• Consider your personal situation
MINITRENDSMiniTrends
Determine Special Features
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MINITRENDSMiniTrends
Convince Customers of the Value of Special Features to Them
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MINITRENDSMiniTrends
Consider How the Minitrend Product Will Be Marketed
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MINITRENDSMiniTrends
Define and Analyze Relevant Drivers and Constraints
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Photo: http://www.landmama.com/custom/index.cfm?id=134783
MINITRENDSMiniTrends
Analyze Analogous Situations
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MINITRENDSMiniTrends
Engage Allies and Supporters
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Be Flexible
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Stay Healthy
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Apply the “Sanity Test” to Each Stage of the Exploitation
Process
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MINITRENDSMiniTrends
Remember There Are Other Smart People in the World
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MINITRENDSMiniTrends
MINITRENDS Book
7 Ways to Search
8 Places to Search
9 Sample MiniTrends
4 Ways to Select MiniTrends
4 Ways to Develop
MiniTrends Plan
13 Ways to Put Plan into Action
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MINITRENDSMiniTrends
MiniTrends 2014: Fall, Austin, TX
Photo Source: TFI
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MINITRENDSMiniTrends
MiniTrends Resources & Services http://minitrends.com/minitrends/resources/ (see handout)
MiniTrends Resources: • MINITRENDS: How Innovators & Entrepreneurs Discover & Profit From Business & Technology Trends by Dr. John Vanston and Carrie Vanston
• MiniTrends 2014: 3rd Annual Conference & Master Workshop Fall 2014, Austin, TX
• MiniTrends Meetups: TBA in early 2014.
• MiniTrends Resource Page http://minitrends.com/minitrends/resources/
MiniTrends Services:• MiniTrends Presentations
• MiniTrends Workshops
• MiniTrends Seminars
• MiniTrends Annual Conference Sponsor
• MiniTrends Annual Conference Partner
• Research and Alerts
25
2014
MINITRENDSMiniTrends
Converting Bright Ideas into Business
Opportunities
John H. Vanston, Ph.D.Chairman
Conference Chair, MiniTrends 2014Author, MINITRENDS: How Innovators & Entrepreneurs Discover & Profit From Business & Technology Trends(512) 258-8898 ● www.minitrends.com ● www.tfi.com ● jvanston@tfi.com
Copyright © 2014, John Vanston/Carrie Vanston, Technology Futures, Inc.
February 2014
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