“Skills & Myths of an Innovative Entrepreneur” managed to educate and motivate. Innovation requires the “intuitive mind” and the “rational mind” to work in tandem, bringing the forces of hard work, keen observation, tedious research (reading & experiencing), understanding of trends and gaps to identify a problem and re-frame it into one worth solving. This becomes a viable Startup idea. The session also tackled Myths like “You are born innovative”, “Entrepreneurs are gamblers”, “Good ideas automatically attract funding” and so on – commonly held beliefs. The most motivating message we were left with – everybody can be innovative, one just needs to develop the skills and behavior to be that – an innovative entrepreneur.

1. Innovative Entrepreneur
Skills? Myths! More>
Lounge47, Aug 16, 2014
Sudeendra.Koushik@gmail.com

2. How many of you see
yourself as a Innovator ?

3. What is Innovation
Develop an idea that can
be of social and/or
commercial use to
mankind

4. Innovation is NOT only

5. 43
%
42
%
Household insecticides market = 3000 cr

6. Social
Innovation
Commercial
Innovation
 Welfare
 Self esteem driven
 Lifestyle is key
 IP/Patent is not key
 Pull Innovation
 Not for profit
 Industry
 Technology driven
 RoI is key
 IP is a goal
 Push Innovation
 For profit

7. JC Bose Wireless
communication 1894
Archimedes
Sushrutha / Charaka Yoga
Kanad _ atomics Bhaskara _ algebra
Nagarjuna_Chemistry Bharadwaj _ Aviation

8. Where are
you India ?
INTERNET
Timothy B Lee
CELL PHONE
Martin Cooper

9. Patents

11. What is missing?
Skill Habit
That you can learn,
practice it to perfection
That you keep repeating,
Even unconsciously

12. Where
am
I

13. I don't believe there is such
a thing as a non-innovative
person.
Everyone is innovative
somewhere in his or her
life. - Anonymous

14. Innovation is for…
Children ??

15. Business Process
Idea
YOU as Intra-preneur
Idea

16. YOU as Entrepreneur
Business Plan
IdeaIdea

17. Your Innovation
Products &
Services
Process
Business
model
None of your
business
Everything
else
Faster, Better, Cheaper –
Fast food delivery
Value Chain, Eco-system -
Wal-Mart, Dell
Finance, Billing,
Customer service –
Payment gateway, ATM
Features, New applications,
New products, New services
Glass staircase
Examples
Ipad, Appstore, Opensource

18. Idea
Solutions &
Decision making
Selling your innovation
ARTIST
SCIENTIST
INDUSTRIALIST

19. How to Spot
Innovative opportunity?

20. What is your Experience of a Auto ?
Why 3 wheels
Why they squeeze in Congested traffic
Radius of turning
Camera Tripod allows the most precise moments
to be captured and that too sharply
Unpredictable
movements

21. PROBLEM
FRAMING
TRENDS FIX GAPS
How to start Identify a valuable
Problem
Sony Walkman ?

22.  Bitter medicine
 Mosquito repellant
 Ganesha – around the world
 Chotakool
Problems are everywhere …
if you want to see it
PROBLEM
FRAMING

23.  Face-book vs. Orkut
 Nokia and dual sim
 Kodak and Digital Camera
 Ambassador, Premier Padmini Vs Hyundai, Toyota
 Stitched vs Ready made clothing
 Desktop versus Tablet, Notebook computers
 Landline versus mobile
TRENDS

24. McKinsey Global Institute -
TrendsMobile Internet
Knowledge work
Automation
Internet of things Cloud Technology
Advanced Robotics Autonomous vehicles
Next-gen Genomics Energy Storage
3D Printing
Advanced Materials
Advanced oil & gas
explorations /
recovery
Renewable energy

25.  Gatorade sports drink
 24 hour day care
 Big size clothing
 Tata Nano
FIX GAPS

26. Traits of a Innovator?
EXPERIMENT
OBSERVE
(analogy)
HARD WORK
Find other uses
For existing thing

27.  10,000 + experiments – Edison
 51 attempts of angry birds
 5200+ prototypes of Vacuum cleaner
 Sachin Tendulkar
 Sprint runners on sand
 Rocky
 First Flight of 6 minutes
EXPERIMENT
HARD WORK

28.  3m Coating
 Post it notes
 Microwave oven
 Velcro
 Penicillin – Alexander Fleming
OBSERVE
(analogy)

29. Habits of a Innovator?
PASSION
READ-READ-
READ MORE
INTUITION
FACE FAILURE
LOG
BOOK

30. PROBLEM
section
IDEA
section
LOG
BOOK

31. INSIGHT /
RESEARCH
PSEUDO-
EXPERIENCE
READ-READ-
READ MORE

32. 91 year old masters
Left school at 14
Dr Devi Shetty's Bangalore-based Narayana
Hrudayalaya hospital performs more heart
operations a day than Singapore and
Malaysia together.
MRF Pace Bowler?
Make cartoons 
Make people happy !
Passion
Passion
Passion
PASSION

33. How do you develop intuition ?
Contemplate – solitude
Newton –
Fall of apple
Archimedes –
Gold in crownAadi kavya..
INTUITION

34. FACE FAILURE

37. People see RESULTS
and
not the STRUGGLE

39. BORED ?

40. Seat for standing

44. “Creative problem solving is
looking at the same thing as
everyone else and thinking
something different.”
Nobel prize winner, Albert Szent-Gyorgi

45. Who gives ideas at work
YOU can…iff…
.. YOUR IDEA ‘change’
the way people LIVE or WORK…
Arthur Rock, star investor – Intel, Apple, Teledyne, more

46. What is Product or Service
Product
 Tangible
 Generalized
 How customer decides
 Manufacturing to dealer
shop
 Product marketing
 Innovation based on
technology
Service
 Intangible
 Personalized
 How customer decides
 Manufacturing to
customer service
 Service marketing
 Innovation based on
experienceRice, Sugar Bank, SaloonCar & service

47. Opportunity identification
Idea
Or
Solution
PRODUCT
SERVICE
Solves
New
Problem
Solves
Current
Problem
PATENT
Timely
Attractive
Durable
Available

48. Opportunity identification
PRODUCT
SERVICE
Timely
Attractive
Durable
Available

49. ‘So What’”test
 People don’t buy WHAT you do
 People buy WHY you do

50. Myth-1
 Entrepreneurs are born, not made
 Experience
 Learning
 Pursuing an opportunity

51. Innovation is NOT about ideas only
Innovation is NOT about Technology
Innovation is about meeting needs &
Innovation is about creating Businesses
Entrepreneurship

52. Formal Degree matters ?
 Ratan Tata
 BS Architecture (62) / Adv Mgmnt Prog Harvard (75)
 Mukesh Ambani
 BE Chemical, 1 yr (of 2) MBA Stanford
 Anil Ambani
 MBA
 Deepak Parekh (HDFC) – CA
 Kumar Mangalam Birla – CA. MBA
 Narayana Murthy – BE(univ of Mysore), Mtech

53. Time
Market
Size

54. Opportunity
marketFinancial
Organizational Product /
Service
?

55. Hype Cycle for Consumer
Devices

56. Myth-2
 Anyone can start a business
 Planning
 Luck
 Perseverance
 1 in 10/20 survive 5 years – period for capital gains

57. How they started
HP
Motorola
Sony
Ex. Walkman
Bowling foul line indicator
Telescope clock Drive
Urinal Auto flush
Shock to lose weight!
Had no idea
Made Rice cooker !
Failed
Struggling battery eliminator repair biz
P&G Soap and candle maker

58. Myth-3
 Entrepreneurs are gamblers
 Take risks - Calculated risks

59. Value chain analysis
Inbound Operations Outbound
Sales &
Marketing
Secondary / Support
Profit
feedback

61. Myth-4
 Entrepreneurs wants all for themselves
 Team needed to grow big

62. Boxing
INVENTOR
Entre/intra
Preneur
PromoterManager
High
Low
High Low
Creativity &
Innovation
GM skills, Biz Know-How,
Networking
Time telling Vs. Clock building
– Built to last

63. Myth-5
 Entrepreneurs work longer than managers at firms
 Mixed evidence

64. Myth-6
 Money is the most important ingredient
 One of the least important ingredient

66. Myth-7
 Entrepreneurs should be young and energetic
 Age is no barrier
 30s to 60s

67. How late is late…
KFC Colonel Sanders
was started at 65
Steve built his first
computer at 10
Ramanujam
Own theorems by 12
Edison
Printer as a kid

68. Myth-8
 Entrepreneurs seek power and control
 Sense of accomplishment

69. Opportunity &
Idea or
Case build-up
Decision
Making
Solution
generation
PoC / Patent
Validation
Idea Selling
Movie 127 hours
EXIT
Time
Difficulty per step ~
F(energy already
spent)
Don’t get
emotionally
attached
Valuable
problem?
Valuable
Solution?

70. Timmons model
Opportunity Resources
Team

71. Myth-9
 Talent is enough; success will follow in a year or two
 What else is more common
 Maxim amongst VC
 Lemon ripen in 2/2.5 years
 Pearls need 7/8 years

73. Myth-10
 Any good idea will get money in
 Only 1 to 3 in 100 are funded

74. Business Plan
Sense of Excitement
Along with facts and figures - anticipation
and excitement of the possibilities that
surround a new venture

75. Myth-11
 Good entrepreneurs need a good SAT, GMAT etc
 Innovation, creativity, decision making
 Integrity, leadership, team building, networking

76. IQ /SAT /CAT what not …
 MBA Harvard – Alumni was studied for 25
years
 So called ‘TOP’ in class – were found
successful & NOT successful in life
 So called ‘BOTTOM’ – were very very
successful
 So called ‘MIDDLE’ – all cases

77. Closing

78. Read unrelated stuff !
Read Related stuff !
Online Idea contests
Keep yourself challenged
‘Draw’ your ideas;
Think Visually
Be Positive Physically active
Laugh a Lot Watch Tom & Jerry
Find and Be
YOURSELF

79. Imagination is more important than
knowledge.
For while knowledge defines all we
currently know and understand,
imagination points to all we might yet
discover and create
- Albert Einstein

80. • It’s a life skill – part of U
• It’s exciting - creation
• It’s satisfying - growth
Innovation…

81. PROBLEM
SOLVING
TRENDS
FIX GAPS
EXPERIMENT
OBSERVE
(analogy)
HARD WORK
PASSION
READ-READ-
READ MORE
INTUITION
FACE
FAILURE
LOG
BOOK
YOU
& iQ
DO
THINK
BEHAVE

82. The start
How many of you see
yourself as a
Innovative entrepreneur ?

83. Thanks for your time
&
Giving me this opportunity