PCA12 - Converting Bright Ideas Into Business Opportunities by Dr. John Vanston - TFI 2-15-14

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 ● [email protected]

Copyright © 2014, John Vanston/Carrie Vanston, Technology Futures, Inc.

February 2014

2014


I. Attractiveness to Business Community

II. Attractiveness to You


Business CommunityExcites Enthusiasm

Opens up opportunities

Special Differentiating Factors


Identify Emerging Market Needs

5


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?


Size and Nature of Potential Market

Define markets MiniTrend can serve Consider future markets Consider ancillary markets Consider social implications


Where in Development Process?


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

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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

9


Impact of Exogenous Factors

Advantageous

Disadvantageous


Early Indicators

• Laboratory discoveries portend new technologies

• Special group formations portend new social attitudes

• Declared political positions portend new laws and regulations


Personal Attractiveness• Clarify personal interests

• Consider your personal situation


Determine Special Features

13


Convince Customers of the Value of Special Features to Them

14


Consider How the Minitrend Product Will Be Marketed

15


Define and Analyze Relevant Drivers and Constraints

16

Photo: http://www.landmama.com/custom/index.cfm?id=134783


Analyze Analogous Situations

17


Engage Allies and Supporters

18


Be Flexible

19


Stay Healthy

20


Apply the “Sanity Test” to Each Stage of the Exploitation

Process

21


Remember There Are Other Smart People in the World

22


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

23


MiniTrends 2014: Fall, Austin, TX

Photo Source: TFI

24


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


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 ● [email protected]

Copyright © 2014, John Vanston/Carrie Vanston, Technology Futures, Inc.

February 2014

PCA12 - Converting Bright Ideas Into Business Opportunities by Dr. John Vanston - TFI 2-15-14

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