Product Innovation

1
Product Innovation CommercializationECE CS
599

• Welcome

2
The Autodesk File

• Relevance to the class project?
• Why meet with HP?
• Importance of Organization Communication?
• Quality control
• Customer input
• Why was it Chaotic?
• Corridor principle New pathways or opportunities
  will arise that lead entrepreneurs in different
  directions.
• Thinking outside the box?

3
Phases of an entrepreneurial venture

• Proof of Concept (invention, can it be done)
• Proof of Commercializability (produced,
  delivered, supported)
• Proof of Business Viability (demand, market size,
  profit potential)
• Implementation (business model, resources,
  strategy)
• Revenue Generation (sales, marketing, support)
• Sustainability (growth, follow on products, new
  markets)

4
Table 2.1 Financial Analysis Emphasis
5
The Evolution of Entrepreneurship

• Entrepreneur is derived from the French
  entreprendre, meaning to undertake.
• The entrepreneur is one who undertakes to
  organize, manage, and assume the risks of a
  business.
• Although no single definition of entrepreneur
  exists and no one profile can represent todays
  entrepreneur, research is providing an
  increasingly sharper focus on the subject.

6
A Description of Entrepreneurship

• Entrepreneurship
• The process of creating incremental wealth.
• A dynamic process of vision, change, and
  creation.
• Requires an application of energy and passion
  towards the creation and implementation of new
  ideas and creative solutions.
• Essential ingredients include
• The willingness to take calculated risksin terms
  of time, equity, or career.
• The ability to formulate an effective team the
  creative skill to marshal needed resources.
• The fundamental skills of building a solid plan.
• The vision to recognize opportunity where others
  see chaos, contradiction, and confusion.

7
The Myths of Entrepreneurship

• Myth 1 Entrepreneurs Are Doers, Not Thinkers
• Myth 2 Entrepreneurs Are Born, Not Made
• Myth 3 Entrepreneurs Are Always Inventors
• Myth 4 Entrepreneurs Are Academic and Social
  Misfits
• Myth 5 Entrepreneurs Must Fit the Profile
• Myth 6 All Entrepreneurs Need Is Money
• Myth 7 All Entrepreneurs Need Is Luck
• Myth 8 Ignorance Is Bliss For Entrepreneurs
• Myth 9 Entrepreneurs Seek Success But Experience
  High Failure Rates
• Myth 10 Entrepreneurs Are Extreme Risk Takers
  (Gamblers)

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Different views of the process

• Macro View
• Micro View

9
Figure 2.4Variables in New-Venture Creation
10
Assignments

• Assemble the product team
• Decide the product
• Discuss product viability
• Entrepreneurship text reading
• Part 3 Developing the Plan (page 208)
• Sections 7, 7a 9
• The AutoDesk File reading
• July 1983 Meeting
• Low Rent 3D
• Electric Malcolm
• October 1983 Meeting
• Piece of Cake
• Information Letter 10
• Information Letter 11
• Party Time
• The Deal on the Table
• AutoCAD Lite
• Taxes and Such

11
Thoughts on the TeamThe 6 Cs

• Could you Cohabitate (on a sailboat to Fiji)?
• Can you Complement each other?
• Can you Criticize each other?
• Can you Coax enthusiasm?
• Can you handle Creative solutions?
• Can you last to Completion?

12
Guest Speaker Rich Bader
Entrepreneurial Travels thru the Cosmos
13
Rich BaderPresident CEO, EasyStreet Online
Services

• Rich has earned his salt and pepper hair with
  over 25 years of experience in high tech
  companies. Richs career spans the minicomputer
  era at Digital Equipment Corp., the
  microprocessor and PC revolution at Intel, and
  now, for over 10 years, leading EasyStreet Online
  Services in the Internet and IT world, now
  Oregons largest locally owned ISP and managed
  services provider.
• Rich combines a lifelong passion for technology
  with an appreciation for markets and customers,
  finding ways to innovate, satisfy customers, and
  build successful companies. Rich lived the
  globetrotting high tech lifestyle for 12 years at
  Intel, co-founding their successful entry into
  the PC end user products business. After
  consulting for numerous companies around the
  country, Rich gave up the frequent flier miles
  for the regional focus of EasyStreet, balancing
  the challenges of high tech, with the rewards of
  deeper roots.
• Rich gives back to the community that supports
  his company and family. Hes served on numerous
  boards and committees. Currently, hes on the SAO
  Board and Executive Committee, the board of the
  Open Technology Business Center (OTBC), and was
  appointed by Gov. Kulongoski to the Oregon Growth
  Account board. A sought-after speaker and emcee,
  Rich enjoys sharing his experiences in an
  entertaining way. He also enjoys travel, wine,
  cycling, and playing guitar.
• Rich has a BSEE from Northeastern University.