New ideas based on high-technology research have a high failure rate because they hit the ground running with lopsided priorities and misalignments. Students complete this course with an Innovation Creed (“Why are you doing this?”) and a customized Idea Filter (“Are you working on the right priorities?”)—2 simple tools that steer concept-stage commercialization to success.
Hypothetical Idea Being Scored
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Do curso por University of Rochester
Comercialização de Tecnologia, Parte 1: Formação de Ideia Sistema de Filtragem
25 classificações
University of Rochester
25 classificações
Na lição
Week 4 - Discussing Filters from Different Creeds hard?
Customizing Your Idea Filter: the best ideas for your particular Creed and
Examples of various Filters for differing dimensions of Creed
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Mark WilsonLecturer in Entrepreneurship
Simon Business School
Okay.
Let's get a little more detailed here now, and get back to our, our numbers game.
And so we could start to get a little more precision, in our idea filtering system.
So here's just a total hypothetical idea, that's being scored.
And here are the weights of this particular team's system, right?
So certain things are more important to us than others.
We have scored from one to five.
We don't see the calibration here on the screen, but
behind the scenes, there's some form of calibration that helps them.
Put their scores and help ease their discussion, make it more objective.
In this case as in the system we set up, we're showing nice colors, red and green.
That is not totally necessary right, you could just have one column and
put the score in there.
From a visual tool perspective, it is sometimes kind of nice to see this, right?
It's not necessary to see red, but
red jumps right out at everyone looking at the chart to say red is bad.
And seeing the spread of the scores physically, visually is,
is sometimes helpful.
It's a simple tool, but a lot of people are visual.
And you can see things a lot faster.
Kay we, we multiply across.
We have a five.
It's weighted at 50%, so the score for that particular factor.
Do we have a clear idea of what we're going to sell?
What is our product we're selling?
We're giving ourselves a total of 2.5 points, because it's not so important.
So the five was actually shifted down, versus something here.
150, very important.
So we have seven and half points added to our total.
When we total them all up, we end up saying that, you know, overall as a,
as a somewhat objective score put onto a rather subjective
game of idea filtering, we give it a 50.
What does that mean?
Well according to our hurdle system, you know, we're just, we're kind of low.
It's a little bit low.
It maybe is worth investigating this idea a little longer.
But, if we can't get some aspects of this idea improved,
maybe we want to put this idea on the shelf.
Especially compare to other ideas, which we're not talking about yet.
We just have this idea.
A, a lot of people ask, well what about the 50 and how subjective is that?
Absolutely it's, it's subjective, right?
We're trying to force some objectivity, into a rather subjective point system.
And if you want to raise some of these points why not just say you
know what that's really a four.
You can do that.
This doesn't have a brain, it's trying to help facilitate your conversation and
your honesty.
So if you want to just say we need to raise the score lets just
raise the score and
you're doing the whole thing willy nilly you're right that's just bureaucracy.
It's not going to help you.
Okay?
If you look at the weak areas, and you start to say,
hey let's look at those weak scores.
Is there anyway to change them?
And really change them?
And maybe you even prioritize to say let,
let's look at these, these three that we might be able to do something about.
The pain is really high today.
Well apparently according to this team.
We're not so sure anybody really cares about this.
You know, maybe this is alternative energy,
and that's just wonderful, all this beautiful clean energy.
Is anyone actually going to pay more for it, or does anyone care right?
That everyone cares, but is anyone going to pay for it?
So maybe that's an example.
And it, it says for
this team, you know, we better go out and really find some people.
That actually do have some pain.
Can we find one person?
Can we find six people that are crying for this product?
I don't, I don't care what it cost.
I need it.
Or, for whatever reason, I love your product.
I'll be your beta customer.
Okay. Good.
Prioritize that.
Move it here and say, you know what we're not sure if the market size is big or
whatever, but we found a few people that.
Really care about this.
And, and actually, in this case, alternative energy is a great example.
Again, I don't know what this hypothetical idea is, but the industry is pretty big.
It's just that they're saying, we're not so
sure we've ever found anyone that cares that much.
So, that's how the subjective score.
Of, of 50.
It, it, it helps you, please don't get caught up in the fact that we have a 50,
and some other idea has a 52.
Or 49, not very important right, it's more of this relative and
looking at the weaknesses, and how are you going to shape things.
Another thing to say about the, the 50.
And especially if you're in a, in a corporation or
you're part of a innovation team.
The people on the team are very important studies have been done to show this
innovation teams that are ranking things if you have the same team of people you've
been working together for a while and you're part of a new idea screening team.
And you're evaluating and by the way there's software that does some of
this too and you can, you can, you can share it around and
people can evaluate things and, and look for differences.
And things like that.
GE Global Research for example uses this very effectively so
If you have a team that's used to working together and you know the dynamics, and
you know the expertise, it becomes more important and more repeatable.
If you cast this out into a group of unknown or
try to use some Wiki format of open source to try to do this.
You're probably going to see a lot more discrepancies in the rating.
I think it would be very tricky to try to calibrate on a very
open architecture of this, open use of this.
It's also tricky to have one project team using it,
on a number of ideas you're looking at.
And have another team using it for the types of ideas they're looking for.
And then try to compare those two teams' scores.
It becomes a little more of a,
of a a tendency to make sure you have the highest scores for your ideas.
And that's again missing the point.
You can write any number you want down here right?
Other than the calibration that's keeping you somewhat honest.
So, to whatever extent I think the take away for, for you watching this course.
If you are part of a large system,
then you need more large systems above to connect the teams.
Calibrate radicals, incremental innovation.
Really balance your portfolio of the kinds of ideas you're looking into.
If you're you part time in a garage trying to start something,
don't worry about that, don't overkill.
Just go more to the green crayon method.
So it's helping steer you.
And don't, don't matter, doesn't matter if it's a 40 or a, a 50 or a 60.
Just, just use the tool to shape those weak areas.
Now their very valuable use, of the, of the tool is your confidence.
Green crayon, we showed that a little, right?
If you're circling a whole bunch of numbers,
you're not sure what the numbers are, the rating.
You could also do that.
With a min and a max.
In my experience, using this with teams and we have to come up with a number.
Are we going to put it as a four?
Well, some people think no, this is a five.
This is phenomenal and somebody else says it's a three.
I'm not going to feel comfortable putting it as a five.
You can have lots of discussion on that.
Fine to have some discussion.
Don't have too much discussion.
Just say do we all agree the worst this is, is probably a three?
Yeah. Everyone agrees.
The best this probably is, is a five.
Yes everyone agrees.
So you might it find it as a time management tool to try to
go from min and max.
You might get agreement in five minutes.
What may somehow degrade into forty five minute, discussion on whether it's a five?
Or three certainly we've all been at a number of
meetings where we'll be discussing for two hours whether it's a four or a five.
Doesn't matter right now.
Throw in just real quick.
You know, we we're all pretty sure this is a five.
Maybe a four or five.
You know, this one.
We got some strong arguments maybe it's in here maybe one person on the team
thinks it's pretty high, and maybe that person you have reason to
believe has more knowledge on that particular factor.
So okay let's leave it like this for sure.
The whole team kind of thinks it's here but
we got, we got Joe over there, Joe Duffy.
And he seems to be ahead of the curve on a lot of this stuff in the past so.
He thinks it's a four.
We'd better spend some more time with him.
Et cetera through the whole thing.
And you find out that, you know this idea is somewhere in this range.
Probably going to find a lot more consensus there.
You're going to save a lot of time.
It's still going to get you to the same kind of green,
green cran prioritization, right?
You really want to.
Spend some time talking with Joe Duffy over here.
Why do you think it's a four?
maybe, maybe Joe's going to say I, I see what your, I, I see what everyone else is
saying that, that's not what I was thinking, it's pretty bad there.
You're going to say we need to get more.
More understanding here and down here, we're still low.
If it's a one or a two it doesn't really matter.
It's one of our lowest scores.
So can we morph?
Can we change or pivot our idea?
Such that we're, we're in, increasing our gross margin somehow.
Trying to figure out how.
A team of people that will pay more for it, or adding more value to it, or
figuring out how to lower our costs somehow, or figuring we gotta have,
we gotta make hundreds of thousands of these rather than 10,000 so we get scale.
Okay, so that shows a variety of.
hypothetical, but somewhat real,
in some cases real examples are used in this idea filter on one idea.
And, and I hope that gives you some ideas, some examples of how to use this thing.
You can see it coming to life and
actually helping you, hopefully, starting starting tomorrow morning.
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