7 Tips for Idea Generation for Start-ups
March 30, 2010 by Bernard Leong
The talk focused on how start-ups can quickly work out whether their ideas are feasible and we offer 7 tips to do that. This presentation was given during the SPRING Young Entrepreneurs Event and Idea Generation Workshop in Asian Civilizations Museum on 29 March 2010. Here are some tips which I spoke about during the presentation which you will need to get things started:
In the real world, you need about two weeks to work out the stage from ideas generation to execution. Here is how I will break it down for you using 2 weeks:
- Day 1 – Day 4: Sketch your ideas within the first four days on the industry you focused. Try to brainstorm without constraints and work out all possible ideas you have. The key is to make sure that you have enough ideas to be eliminated in the next stage.
- Day 5 – Day 7: From the list you have brainstormed, decide on the top 3 ideas which you think will succeed.
- Day 8 – Day 11: Do your market research, surveys and reading secondary data on your industry. One important thing is to make sure that you end up getting the final idea. Make sure you talk to people in the industry whether they are from an MNC and start-up.
- Day 12 – Day 14: Focus on the last idea you have eliminated and work out the timeline and milestones so that you can get a prototype to market within 6-8 weeks from this date.
So good luck in generating your ideas for the start-up. :)
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About The Author
Bernard Leong - Co-Founder
Dr Bernard Leong is currently in Vistaprint as a technology manager, where he manages an engineering team and builds new products for emerging markets. His former entrepreneurial stints include CTO and co-founder of Chalkboard where he has architected the platform for location based advertising across web and mobile, and also an early stage investor in Thymos Capital with Lunch Actually, Padlet and iHipo. His accolades include the Young Professional of the Year Award for the Singapore Computer Society 2010 and Outstanding Young Alumni for National University of Singapore 2007. His expertise includes technology and social media. Currently, Bernard also serves as an Entrepreneur-in-Residence with INSEAD Business School and taught courses in entrepreneurship in NTU.Read other posts by Bernard Leong