Competitive Creativity Mindmap

For 20+ years, I taught in a University of Arizona entrepreneurship program.  This Innovation Impact Mindmap started on the whiteboard in my office, a graphic schematic of the course syllabus.  

A syllabus is sequential, but innovation and entrepreneurship usually is not.  They bounce around a bit, from here to there and round again. 

The whiteboard version was fairly simple, but useful.  Students and colleagues took pictures of it for reference.  So, I thought, why not elaborate it just a little bit?  

[OK, OK, so maybe a little bit more than just a little bit!]  

I've added elements that I thought would be most useful, but certainly not all apply to every new venture! The "main highway" is the mission statement, highlighted in yellow.

Think of this Mindmap as a checklist of the elements you might want to visit as you travel around on your new venture adventure! 

High resolution versions are available HERE.

--Jim

Technology Readiness Levels

Thanks to NASA and the European Commission for this succinct guide to the readiness of technology ideas and concepts for commercial application.

 

The Entrepreneur's Creed

1. Do what gives you energy ... have fun!
2. Figure out what can go right and make it happen.
3. Say "can do" rather than "cannot" or "maybe."
4. Illegitimi non carforundum: tenacity and creativity will triumph.
5. Anything is possible if you believe you can do it.
6. If you don't know it can't be done, then you'll go ahead and do it.
7. The cup is half-full, not half-empty.
8. Be dissatisfied with the way things are, and look for improvement.
9. Do things differently.
10. Don't take a risk if you don't have to ... but take a calculated risk if it's the right opportunity for you.

[Thank you, Jeffry A. Timmons and Stephan Spinelli]

Innovation Hot Spots

While innovation is often associated with new products, new gizmo-gadgets, a broader perspective shows innovation occurring in many areas of a business and often has little or nothing to do with products.

Here are some key areas of innovation opportunity for a business venture ...

1. Products (yes, still high on the list, of course!)
2. Services
3. Processes
4. Business methods
5. Business model
6. Revenue model
7. Positioning (relative to the competition)
8. Paradigm (a combination of several innovation areas)

Phases of Innovation

1. Preparation ... focus on the problem or opportunity, and who it affects
2. Exploration ... identify current solutions, alternatives, and substitutes
3. Stimulation ... use creativity techniques to trigger new ideas, concepts, and solutions
4. Incubation ... give the new ideas some time and thought
5. Illumination ... identify new ideas, concepts, and solutions
6. Selection ... establish and use clear criteria for selecting the "best" concept
7. Planning ... decide how to implement the concept
8. Implementation ... put the plan and concept to work
9. Evaluation ... determine if the new concept is working
10. Iteration ... apply incremental improvement to the concept, or start over