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So we're back for the review of week three assignments.
And lemme take you through those.
Number one, you need to download the starting point template.
There are various file formats for you.
Pick the one that works for you.
But I do, I do want you to be thinking of something when you're
downloading the template.
remember, this is not an algorithm, and
a perfect formula, [SOUND] an equation that's going to give you
the perfect answer just because you've downloaded some template.
Now the, the four sections, the 16 factors,
they're an excellent starting point.
But really, the very important point is what you do you with it, and
that you use your mind, and that you talk with others to make this work for you, and
to align with your own team.
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Really consider whether you need to do that or
whether it's really a subcategory of another factor, but you can add a factor.
Second, you tweak the wording.
Right now it starts off with some perfect answers.
You may tweak those so that they make more sense to you and
what it, what it means to you in your innovation.
Some people actually like to go back to the questions rather than
coming forward with the answers they, they go back to the questions and
you can rewind through the video and, and find out about those questions.
So rather than we have strong protection you could say is this unique and
protectable or what are the barriers to entry?
You can go back to the questions.
Third, you need to weigh those factors.
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[SOUND] Put everything at 100% and then move two or three, maybe four up to 150%.
Do not slide them all up to the maximum weight.
That would be defeating the purpose.
That's kind of like a four year old child approach to wanting a new toy.
I want everything, why can't I have everything?
So in innovation, you can't have everything.
So you can't have all the factors all slit up to ultimate importance.
And likewise, pick three or four that are not that important to you, they're still
important, but they're not that important, and slide those down to, to 50%.
Finally, or I'm, step four.
You're going to calibrate.
You need to calibrate what the scoring is.
And this is generally where people have the most challenge, and
it takes the most time.
It's also where you get a lot of benefit with alignment conversations.
How are you really going to measure success?
What does a five look like?
When an idea comes through your filter, and it hits one of the factors,
describe what a five is, how would you measure that five?
How would you measure a one and spend that time?
Some factors are pretty easy, [SOUND] some factors are going to be very difficult,
they will still be rather subjective, but try to build in as much objectivity as to
how you are measuring the, the success of a, of an idea on that factor.
Finally, you can consider your hurdle rates.
I wouldn't spend too much time on this especially if you're off by your self or
doing garage startups.
You don't really have a relative basis for them to be too meaningful.
If you're inside a corporation, or you're trying to build some kind of an innovation
system that's going to be lasting for, for years in your corporation,
then you could start to think more of what the hurdle rate, hurdle rates mean,
and how might you adjust those over time, or do they mean different things at
different stages during, during the concept stage of innovation.
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With whom do you need to align?
And spend some time talking with them.
Who is going to measure your success?
Your boss?
Do you have an innovation team inside a corporation?
Are they aligned on this idea of filter?
If you're doing a garage startup you're going to go ask your family and
friends for a bunch of money, you know, how do they view what you're doing?
How do they, how do they view how they're going to measure success.
So, make sure you start having those conversations this week.
And I hope that you go in the discussion forums and talk about how that's going.
Is there any big insight?
Are there any major road blocks when you sit down with someone, and, and
you say hey, hey boss, or, or spouse, here's what I think I'm going to do,
what do you think about that?
And do they jump right on board, or
do they say, hey, I see this quite differently.
and, and share with us please any kind of insight that you,
that you're getting from that.
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Now the fourth step, after you're done with your own customization,
your conversation, we want to hear about it, and the way we can hear about it
on this side of the camera is we need you to fill out that assignment form.
So, the assignment form this week, there, there's no exam, and there's no right or
wrong answer.
There's an assignment that we want you to go through.
And it's just going to check in and give us some feedback that
you're actually adjusting certain things and what has mattered to you.
So that we know you're out there and, and paying attention.
But also, it's interesting for us to see a little how, how people feel about
different aspects of, of the idea filter and different factors of the idea filter.
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I want to close with a few points that sometimes come up at this,
at this juncture.
Now first of all, Professor Wilson wanted you to test your, your filter.
That's a great idea.
Any time you build a measurement tool you ought to test it out and
see how well it works.
So, think of an idea that's out there already.
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Something you've heard of, some kind of innovation that actually you kind of say
to yourself, man, I wish I did that or I wish we did that.
That's exactly the kind of innovation we want to do.
That's the kind of idea that, that we could really bring forward or
we would hope to bring forward.
And take a little time, run that idea and try to rewind back in the past.
And pretend you came up with that idea.
How would it score on your idea filter.
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Likewise, pick something that's maybe a really bad idea for you, you know,
it's like no, we don't want to do that kind of innovation at all.
That's not the kind of idea we want to do.
Maybe it's a good idea for somebody else.
Or maybe in fact it's, it's not even a good idea at all for
some reason, for anyone you think.
Like a fantasy that wouldn't work or something.
But it's not your kind of innovation, and run that through the filter.
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The interesting point here is that the score might not totally change that much,
okay, hopefully, you do see some difference in the score of course,
but also it's very important to look at the weak points and the strong points, and
how are they shifting around.
All right, how, how would the idea filter tell you to, to, to change and
shape or where to do research on the one kind of idea that's l, the kind you like.
Versus how, where would it be sending you on the kind of idea you, you don't like or
that's not right for you.
So don't just look at the score when you're,
when you're testing out your, your filtering system.
Look at the, the slider bars and, and, and how they're, they're changing.
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There are others though, that really,
when they think of innovation they are thinking of radical inventing.
They're trying to come up with something completely new for the world that no
humans have ever done before, and no one's figured out how to do it.
So like, learning how to fly maybe, with, with just arm power.
Or teleportation, like Star Trek.
Why don't we just move around like that?
Or maybe a little closer to reality, the 3D printing revolution, right.
So, why don't we open a new auto parts franchise that is nothing more than
Netflix like kiosks outside of 7-Eleven and you go up there and you, you,
you, you get your intake manifold printed right there when you need a new car part.
So, people like that are like George Eastman.
And, by the way, this is a great book, especially early on when you
look at the dedication he had to sort of this mad scientist.
This very dedicated inventor that is going to
revolutionize the the camera, the photography business.
Right? So he's just kind of dedicated to that,
and if you want to be that dedicated person to totally come up
with something completely revolutionary and new, you're really into inventing.
Your, you're really in to the science, and the, and the laboratory and pure research.
The idea of filter, is not really going to help you too much.
It's probably not that helpful.
I mean you know what you're trying to do.
You're dedicated to it, you don't care what it costs.
You don't care how much time in effect, right?
You're just dedicated to bringing that kind of
complete new innovation to the marketplace.
However, behind the scenes,
those of us who would study you we could see how you set up your idea filter.
And, and I'd just like to walk through that with you now.