It is amazing how you go around the world and talk with entrepreneurs everywhere and find that you listen over and over the same ideas and the same way of solving the same problems.
I had been lucky to be able to jump back and forth among multiple locations and have a lot of conversations with entrepreneurs, venture capitalist, government organizations and academic institutions, all them have the same goal create new companies that provide a unique solution, making it available to a large market and grow these companies as much as possible.
In these interviews and love to challenge the people to think out of the box and discover new ways of doing things, something that use to be called innovation, before it came to be a buzz word that means nothing and is used for everything.
Recently, I have been discover my self something interesting, good products come from have a very small change that make everything different. It is very well known that in order to have something new and good you need to have a competitive advantage that in another way I identified it as the secret sauce of your solution.
When you talk to an entrepreneur, I found two common elements:
- They are afraid to tell you their idea, because they fell that you are going to steal it. My usual response to it is if your idea can be stolen in a simple chat, your idea is not good enough to pursue, since people see the magic sauce easily and you will have a hard time to protect it.
- Second, the entrepreneurs gave you so general idea that there is not a real value to achieve, therefore the ideas is worthless to purse.
Having this context, I had started to challenge the people in get deep into the idea and explore, how something inside can be modified or at least to find something that is very hard to achieve, that will make your solution unique. This process of digging deep is very common in the scientific world, therefore is a way to learn it using other experiences.
As an example, yesterday an entrepreneur pitch me the idea of how to use brain waves to move an object. He explain me how to get the waves of the brain using electroencephalogram pods to grab the signal and then process. I can imagine that this approach is very much simple to be used, when I started to ask questions how to get better signals, build tools to analyze the waves and create a library of patterns. I found that each one of these elements have opportunities of some level of innovation to be explored. Then the focus is to get deep in the field, explore how to implement and discover an element that may be is not going to be a full product by itself, it will be a component of other products.
I some way, the entrepreneur that want to start with a full innovation product will have hard time to find it, while finding a very specific problem hide to people it is easier to explore, then when the entrepreneur find the secret sauce comes the daunting way of exploring what to do with this innovation. Maybe it will be possible to create a full product from it and gain customers because the product has something unique.
It is a great way to explore it that looks easier than starting without a great secret sauce and build a complex and expensive product. This approach is in other way what the Minimum Viable Product suggests, with a different perspective in how to understand it from my point of view.
I will keep exploring this concept that requires a lot of conversations and exploration that I want to do with you. Do you want to take this challenge with us?