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Turning an idea into a profitable finished product Hani Gamal


Establish Success Clear Vision

Establish Elements Reinforces

Influences

Your Idea Est a Ele blish me nts

ish l b a Est ents m Ele

Emphasis on teamwork/cooperation

AFFECTS

The will to create the future


Forming Ideas #1 Research

Gather & Core Idea Refine to Scenario info.

Define Feasibility Requireme nts

Define SWOT


Research, Gather & Refine Information Understand the concept, clear and define the research goals ● List proper keywords ● Manipulate search phrase with your keywords to get the best results ● Scale your research bit by bit, this will help you refine your information ●


Core Idea to Scenario “Prototyping” ●

Prototype is not a proof of concept it is a minimal shape of your product/service but it is not a product or service Know that your prototype is better than thousands of words and presentations

Clear your core functionality whether product or service

Make a “Scenario” out of your core functionality

Create “cases” of the problem If right then all “cases” will lead to your solution ● otherwise you need to find an alternative solution or workaround – if that happens don't panic it is a good sign that you can see the flaws of your upcoming product/service ●


Alternative Solutions & Workarounds Both depends on your creativity ● Finding alternatives almost about bending your first solution a little bit ● Research skills is a key point here ● Workarounds almost done because of a threat of some limitation of technology ●


Feasibility ●

Idea Scope ●

Current Analysis ●

How requirements are defined depends on the object of the project's attention

The approach ●

Used to define and understand the current method of implementation

Requirements ●

Well stated problem is half solved

The recommended solution or course of action to satisfy the requirements

Evaluation ●

Examines the cost effectiveness of the approach selected


Choosing the right technologies ●

It does what you need!

Wisely fit your resources, money and human

Never choose something because its “free” or it has some “offer” Choose the less customization but customizable, more configuration and make sure you can customize at least without a 3rd party involvement Scalability and long-term life cycle Wide known technology over the new ones, well documented is a must and large community is an asset


Define SWOT

Strengths ● Weaknesses ● Opportunities ● Threat ●


Elements of SWOT Strengths: characteristics of the business, or project team that give it an advantage over others ● Weaknesses (or Limitations): are characteristics that place the team at a disadvantage relative to others ● Opportunities: external chances to improve performance (e.g. make greater profits) in the environment ● Threats: external elements in the environment that could cause trouble for the business or project ●


Know Your Plan ●

Everybody likes plans that presents lots of information in as few words as possible. 15 to 20 slides will be more than enough including the following: ●

Business Purpose: one sentence only

Problem & Solution: use cases

Why now?

Marketplace & Market Size: larger is better

Competition: list your advantages

Product/Service: define your development road-map

Model: how you'll get revenue, pricing, pipeline

Team: DNA of your company

Financial


Start-up Success Elements Clarity of purpose, company's mission statement ● Large market & rich customers ● Focus on a product or a service ● How important/valuable is your product/service to your customer ● Team is the company's DNA, this should be formed in the first 90 days, “A” class founders attract an “A” class team ● Agility will usually help beat-out large companies ● Spend only on priorities and maximize profitability ● I see that the main success for a start-up is to be an enduring company ●


Achieve Success Elements Brainstorming

Teamwork

Time Management


Define The Best Tools

Fulfill your ambitions with Open Source


Recommended Tools #1 ●

Brainstorming, Mind Mapping & Research ●

Desktop –

Xmind http://xmind.net

Freemind http://freemind.sourceforge.net

ViewYourMind http://sourceforge.net/projects/vym/

Visual Understanding Environment http://vue.tufts.edu/

Compendium http://compendium.open.ac.uk/institute/index.htm

Blumind http://blumind.org

Web based –

Mindmeister (Paid) http://mindmeister.com

Bubbl.us http://bubbl.us

Mind42 http://mind42.com

Wisemapping http://wisemapping.com

Dabbleboard http://dabbleboard.com


Recommended Tools #2 ●

Teamwork & Project/Time management ●

Web based –

Google Docs, Google Apps :)

Open Atrium http://openatrium.com

ProjectPier http://projectpier.org

Project2manage http://project2manage.com

Basecamp (Paid) http://basecamp.com

Campfire (Paid) http://campfire.com

Communications –

Spicebird http://spicebird.com

Skype :)


Turning an idea into a profitable finished product