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Inventing Is Dead
…or inventing as we knew it
Mike Collins Big Idea Group Bedford, NH
What’s changed
Past Today• Problem ID • Job to be done• Lone inventor • Collaboration • Costly, slow prototyping • Rapid, cheap prototyping• License or start company • Crowdfund, microbusiness
• Huge marketing & distribution challenges
• Internet retail, crowdfunding, social media, niche distribution
1 in 1,000 makes money
1 in 10 makes money2
“Jobs to be done”
Discover a “job to be done”
Alternatives are poor and you can create a solution to be “hired” by consumers to do the job
HBS Prof. Clayton Christensen’s milkshake example
OLD NEWI have an idea I have a better candidate
IDEA
TION
3
Open mind/open door
Explore many ideas
Collaborate with professionals
Get real-time market feedback
OLD NEWI’ve been working on this idea in my basement for the last 15 years.
This idea has been team developed and market-tested.
DEVEL
OPMEN
T
4
Organic & efficient
Concepts evolve, businesses pivot
Rapid prototyping technologies Cheap, photorealistic renderings 3D printers Tech/maker shops
OLD NEWExpensive, slow Fast, cheap, iterative
PROTOTY
PIN
G
5
Small, cheap launchesM
ONET
IZIN
G
Crowdfunding provides capital and momentum—or proof that you need to move on
Emergence of niche, single-purpose brands and pop-up businesses
OLD NEWLicense or sell: the slow death march CrowdfundStart a business with $1m Microbusinesses for $100k
6
Social media marketing
Become expert in “job to done.” Various ways to monetize.
Emergence of niche, single-purpose brands and pop-up business concepts
OLD NEWTV, radio, print Blogs, vlogs, Pinterest, FB, Twitter,
podcasts, viral videos, AdWords, SEO
MARKET
ING
7
Virtual storefronts
Online-only works: Viable to sell direct and via curated direct web outlets
Less cost, complexity—with direct feedback and real-time tweaks
OLD NEWMass market, indirect Curated, direct
DISTR
IBUTI
O
N
8
The Swan Light
Job to done
Development
Prototyping
Crowdfunding
Monetization
Marketing
Distribution
9
CASE STU
DY
What BIG does
Help inventors prep & execute crowdfunding campaigns
From initial product development through post-campaign strategy
10
OUR
SERVIC
ES
Welcome to 2.0
Inventing 1.0 is dead
But 2.0 is the golden age of innovation
BIG can help 2.0 inventors
SUMM
ARY
11