Page 125 - DNBI_A01.QXD

DEVELOPING NEW BUSINESS IDEAS102

Little wonder that John Richardson, parachuted into Iridium as trouble-
shooting CEO in 1999, commented: ‘We’re a classic MBA case study in
how not to introduce a product. First, we created a marvellous
technological achievement. Then, we asked the question of how to make
money on it.’79

key points

G Avoid rushing into action with the first apparently feasible business
idea you create

G Decide when to decide on what action is required, exploiting the
‘creative procrastination zone’ to explore fully the opportunity to
which your business idea appears to present a solution

G Immerse yourself in the market, collecting and structuring a wide
range of facts, figures and observations from the widest range of
sources

G Choose from among the wide range of predominantly divergent tools
to seek and shape market opportunities

G Include your gut-feel and intuition in prioritising which definitions
look most promising to pursue