Innovation & Entrepreneurship

Brian P. Reschke

BYU Marriott School of Business

Fall 2019

© 2019 Brian P. Reschke. All rights reserved.

Quick Shuffle

00-12: Group 1 50-62: Group 5
13-24: Group 2 63-74: Group 6
25-37: Group 3 75-87: Group 7
38-49: Group 4 88-99: Group 8

Please consider the last two digits of your phone number:

Tournament of Pain

Each person at table:

  1. Introduce yourself
  2. Describe 1-2 recent experiences in which you expended considerable (a) time, (b) money, and/or (c) energy, and still were unsatisfied. What 'job' were you trying to do?

 

As tables:

  1. Identify the job-to-be done among the table that is (a) most painful and (b) the solutions are woefully inadequate. We will share these jobs-to-be-done with the class.

"[We] who [invade] the domain of knowledge must approach it as Moses came to the burning bush; [we stand] on holy ground; [we] would acquire things sacred; [we seek] to make [our] own the attributes of deity. . . . We must come to this quest of truth—in all regions of human knowledge whatsoever, not only in reverence, but with a spirit of worship. . . .

"Our knowledge is to be coterminous with the universe and is to reach out and to comprehend the laws and the workings of the vast deeps of the eternities. All domains of all knowledge belong to us. In no other way could the great law of eternal progression be satisfied."

President J Reuben Clark, Jr.

 

J. Reuben Clark Jr., “Charge to President Howard S. McDonald at His Inauguration as President of the Brigham Young University,” Improvement Era 49, no. 1 (January 1946): 15, as quoted in Eva Witesman, "Women and Education: 'A Future Only God Could See for You'"

  1. Generate creative new ideas

  2. Understand customers and competitive contexts

  3. Formulate and prioritize hypotheses

  4. Design and create elegant solutions

  5. Validate entrepreneurial opportunities

Learning Outcomes

Individual Assignments

(50% of Grade)

(Arrow Down to See Description)

If you want to have good ideas you must have many ideas. Most of them will be wrong and what you have to learn is which ones to throw away."

— Linus Pauling

Capture and Develop ideas throughout the semester

  • Capture: Describe/visualize the new idea
  • Develop: Return to recorded ideas and build on what you initially thought

If you have not already commenced this important duty in your lives, get a good notebook, a good book that will last through time and into eternity for the angels to look upon. Begin today and write in it your goings and your comings, your deeper thoughts, your achievements, and your failures, your associations and your triumphs, your impressions and your testimonies. We hope you will do this, our brothers and sisters, for this is what the Lord has commanded, and those who keep a personal journal are more likely to keep the Lord in remembrance in their daily lives.”

— Spencer W. Kimball

Format is flexible. Possibilities:

Note that you will submit excerpts from your log every week, as well as submit the final combined log at the end of the semester (will be returned)

 Electronic may be easier

~DAILY:

  • Record new ideas
  • Follow up on prior entries
  • Record date, time, context

 

WEEKLY:

  • Submit one of your well-developed ideas to Learning Suite
  • Due Saturdays by 11:59 PM
  • Drop two weeks of your choice

FINAL DELIVERABLE

Entire log due last day of class (December 12)

Grading CriteriaValue

Number and consistency of entries (Fluency) 60%
Development over time (Elaboration) 20%
Tries new approaches (Flexibility) 20%
  100%
  • Small, pre-class assignments to spur in-class discussion

  • Catalysts will remain open on Learning Suite until 11:59 PM the day they are due, but must be completed before class to receive full credit

  • Generally available at least one week before due

Catalysts

  • Larger, multi-week assignments
  • Focused on developing innovation competencies

 

EXAMPLES

  • Innovator's DNA Personal Development Report
  • Experience Mapping

Innovation Skills

Team Assignments

(50% of Grade)

PITCHES

  • ​Semester-long project, four pitch presentations:
    • Domain Deep-Dive

    • Pain Pitch

    • Solution Pitch

    • Final Pitch

  • Teams determined next week

Other Team Assignments (5%)

SMALL ASSIGNMENTS

  • Periodically, there are small assignments to be completed as a team. One person from each team submits the requested deliverable by the deadline provided.

PEER EVALUATIONS and TEAM FEEDBACK

  • Assess the contributions of each team member to the project milestone
  • Provide feedback to two other teams each pitch

Week 1:

  • Course Introduction

  • Entrepreneurship à la Industry Immersion

Course Sequence

Week 2:

  • Entrepreneurship through Pain Discovery

  • Domain Divergence/Convergence

  • Pain Search

Week 3:

  • Empathize with Customers

  • Existing-Solution Deep Dive

Week 4:

  • Formulate and Prioritize Pain Hypotheses

Week 5:

  • Domain Deep Dive Pitch (October 3)

  • Prototyping for Pain Search

Weeks 6-8:

  • Pain Pivots

  • Pain Breadth and Depth

  • Sprint Tools

Week 9:

  • Pain Pitch (Oct. 29)

  • Building Elegant Solutions

Week 10:

  • Solution Hypotheses

  • Experimentation

  • Prototyping for Solution Development

Weeks 11-12:

  • Designing Products and Processes

  • Solution Pitch (Nov. 21)

Week 13:

  • Thanksgiving! (Friday Instruction on Nov. 26)

Weeks 14-15:

  • Solution Pivots

  • Total Validation

  • Final Idea Log Submission

Final Exam = Final Pitch

  • Saturday, Dec. 14, 2019, 2:30-5:30 PM

  • Note: Attendance for full duration is required. No exceptions. Please make arrangements to attend the final exam.

Desirability

  • Have we identified a customer with a pain worth solving?

 

  • pain (n.) something someone is willing to spend time or money avoiding or alleviating. 

Feasibility

  • What is our solution to the pain?

 

Four Levels:

  • Would our solution solve the pain?
  • Is it possible to create the solution?
  • Is the solution cost-effective?
  • Are we the right team to do this?

Viability

  • Is our solution sustainable? That is:
    • (a) Can we make money doing this
    • (b) so we can continue to solve this problem?
  • What unique value do we create for our customer?
  • How does this opportunity compare to our other options?

Validation Toolkit

Identify and Prioritize Assumptions

Generate Hypotheses

Design and Conduct Tests

Analyze Findings

Take action!