Turning an idea into a profitable finished product lecture's presentation pitched at Moataz Al-Alfi Hall of the AUC new Cairo Campus to the favor of Fekrety EIP competition, 3rd of July, 2012
Turning an idea into a profitable finished product
1. Turning an idea into a
profitable finished product
Hani Gamal
2. Establish Success
Clear Vision
Establish Elements
Reinforces Influences
Your Idea
h Est
a blis ts a
Ele blish
Est en me
m nts
Ele
Emphasis on AFFECTS The will to
teamwork/cooperation create the future
3. Forming Ideas #1
Gather &
Core Idea
Research Refine
to Scenario
info.
Define
Define
Feasibility Requireme
SWOT
nts
4. Research, Gather & Refine
Information
● Understand the concept, clear and define the
research goals
● List proper keywords
● Manipulate search phrase with your
keywords to get the best results
● Scale your research bit by bit, this will help
you refine your information
5. Core Idea to Scenario
“Prototyping”
● Prototype is not a proof of concept it is a minimal shape of your
product/service but it is not a product or service
● Know that your prototype is better than thousands of words and
presentations
● Clear your core functionality whether product or service
● Make a “Scenario” out of your core functionality
● Create “cases” of the problem
● If right then all “cases” will lead to your solution
● otherwise you need to find an alternative solution or
workaround
– if that happens don't panic it is a good sign that you can see
the flaws of your upcoming product/service
6. Alternative Solutions &
Workarounds
● Both depends on your creativity
● Finding alternatives almost about bending your
first solution a little bit
● Research skills is a key point here
● Workarounds almost done because of a threat of
some limitation of technology
7. Feasibility
● Idea Scope
● Well stated problem is half solved
● Current Analysis
● Used to define and understand the current method of implementation
● Requirements
● How requirements are defined depends on the object of the project's attention
● The approach
● The recommended solution or course of action to satisfy the requirements
● Evaluation
● Examines the cost effectiveness of the approach selected
8. Choosing the right technologies
● It does what you need!
● Wisely fit your resources, money and human
● Never choose something because its “free” or it has
some “offer”
● Choose the less customization but customizable, more
configuration and make sure you can customize at least
without a 3rd party involvement
● Scalability and long-term life cycle
● Wide known technology over the new ones, well
documented is a must and large community is an asset
10. Elements of SWOT
● Strengths: characteristics of the business, or
project team that give it an advantage over others
● Weaknesses (or Limitations): are characteristics
that place the team at a disadvantage relative to
others
● Opportunities: external chances to improve
performance (e.g. make greater profits) in the
environment
● Threats: external elements in the environment that
could cause trouble for the business or project
11. Know Your Plan
● Everybody likes plans that presents lots of
information in as few words as possible.
● 15 to 20 slides will be more than enough including the following:
● Business Purpose: one sentence only
● Problem & Solution: use cases
● Why now?
● Marketplace & Market Size: larger is better
● Competition: list your advantages
● Product/Service: define your development road-map
● Model: how you'll get revenue, pricing, pipeline
● Team: DNA of your company
● Financial
12. Start-up Success Elements
● Clarity of purpose, company's mission statement
● Large market & rich customers
● Focus on a product or a service
● How important/valuable is your product/service to your
customer
● Team is the company's DNA, this should be formed in the
first 90 days, “A” class founders attract an “A” class team
● Agility will usually help beat-out large companies
● Spend only on priorities and maximize profitability
● I see that the main success for a start-up is to be an
enduring company
16. Recommended Tools #2
● Teamwork & Project/Time management
● Web based
– Google Docs, Google Apps :)
– Open Atrium http://openatrium.com
– ProjectPier http://projectpier.org
– Project2manage http://project2manage.com
– Basecamp (Paid) http://basecamp.com
– Campfire (Paid) http://campfire.com
● Communications
– Spicebird http://spicebird.com
– Skype :)
Hinweis der Redaktion
Scenario is the framework that gives form to the core idea Requirements will lead to the right technologies but the dilemma is how to choose what fits you