Opportunity Discovery

I’m studying opportunity discovery for ENT60006 as part of an MBA from Swinburne Online. In this unit you will design and develop your own startup. This unit aims to equip you with the knowledge and skills you need to study or work as an innovator and/or entrepreneur.

The Lean Startup

_The Lean Startup_ is a new approach to business that's being adopted around the world. It is a movement that is transforming the way companies are built and new products are launched.

Inclusive Design

Inclusive design is: …[t]he design of mainstream products and/or services that are accessible to, and usable by, as many people as reasonably possible … without the need for special adaptation or specialised design.

Agile Software Development

MVP

A minimum viable product is “…that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort."1 i.e. a product or offering with the smallest amount of functionality that (dis)proves something about the viability of the product.

Lean Startup

In 2009, Eric Ries released The Lean Startup, outlining his methodology for spinning up a startup that can iterate and adapt to the (“blue ocean”) market, without the overhead and expense of a long development pipeline.

Technology Adoption Lifecycle

The technology adoption lifecycle is the bell curve that describes the typical adoption of a new product according to demographic and psychological characteristics of customers.

Week 8 Markets and Customers

After last week’s presentation we move our focus to ‘going out of the building’, testing the problem as well as the solution. For that we will introduce the concept of prototyping and the need to not only test your value proposition but also your business model.

Value Innovation

Value innovation is when a company’s actions favourably affect both its value proposition to customers and its cost structure. (See blue ocean)

Week 9 Competitive Strategy

This week we will look at ‘blue ocean’ strategy. It is a niche strategy that helps you analyse competitors in a different way. We will not do a standard benchmarking exercise (features/benefits) but will reduce/eliminate certain competitor elements and raise/create remarkable value which may be attractive for existing or new market segments.