The first of the CEO Start-up Sessions kicked off this week, focusing on business ideas and how to determine whether the idea will be successful. The session was hosted by Stuart Hartley, a Senior Consultant for ANGLE Technology.
So first of all, where do ideas actually come from? Well it’s important to understand the difference between invention and innovation.
Invention = A creative idea
Innovation = Makes the creative idea work.
A certain product or service can be re-invented time and time again but it’s the innovation which makes a particular product stand out from its competitors in that market. Innovation is always original, new ideas can reflect a problem in an old idea sometimes referred to as “points of pain”.
There are 2 different types of innovation; Radical and incremental. Radical innovation makes major changes with an entirely new product/service and on the other side incremental innovation is where continual changes are made to an already existent product or service.
If you need help developing your idea why not drop into one of our start-up surgeries and have a chat with a qualified business advisor?
Tuesdays, 2-4pm, Student Gateway
Wednesday 2-3pm, Hugh Aston 0.73
Thursdays, 2-4pm, Student Gateway