From concept to revenue

For the last few years I have been trying to create a simple model that allows individuals to assess the commercial viability of business opportunities and innovative ideas – irrespective of where this idea is created (university lab, industrial R&D department, current employer or our bedroom) I think there are three primary drivers that need to be assessed and considered when evaluating new ideas. Here are my thoughts:

Commercial drivers  (CD) –

who is going to buy the idea/service/product and how do you get it to market?

Human factors (HF) –

who is going to make it their job to get it out there – and is there a team that can make it happen?

Resource Issues (RI)

have we got the finance, IT, plant and equipment along within physical resources needed to make it happen?

I score each idea on a 1-10 scale in each area. (I have some more detailed sub questions to each area and I have over simplified the above).

I work on the basis of successful mind to market – creating a sustainable revenue stream is down to CD x HF x RI – top score is 1,000 (10 x 10 x 10). In a very crude way it gives me a feel for whether I want to pursue an idea or not. If any score is zero then its back to the drawing board.

So much emphasis is on CD……however, HF needs to be given the attention it deserves!!

One Response to From concept to revenue

  1. Shaughan Farrow says:

    I like this

    Interesting thought. In what drivers would would other factors fit, such as competition, customer desire and need?

    Regards Shaughan Farrow GrowthAccelerator Growth Manager Winning Pitch | Carrwood Park | Building 5 | Selby Road | Leeds | LS15 4LG T +44 (0)113 385 4616 M +44 (0)7738 355 718 E is operated by the Growth Accelerator Consortium (“GAC”), which has been set up to manage and promote access to the GrowthAccelerator service (“the Service”). The Service was established on behalf of the UK Department for Business Innovation and Skills (‘BIS’) to help businesses with significant growth ambitions to realise that potential. GrowthAccelerator is funded by BIS.

    GAC comprises Grant Thornton UK LLP (registered number: OC307742, with registered address Grant Thornton House, Melton Street, London, NW1 2EP); Pera Consulting (registered number: 412652, with registered address Nottingham Road, Melton Mowbray, Leicestershire, LE13 0PB); Oxford Innovation Ltd (registered number: 2177191, with registered address Oxford Centre for Innovation, New Road, Oxford OX1 1BY); and Winning Pitch (registered number: 05569078, with registered address (8th Floor, Building 8, Exchange Quay, Salford, M5 3EJ). None of the consortium members are responsible for the actions or omissions of one another.

    This e-mail (and any attachments) is confidential and may also be legally privileged. It is intended for the exclusive use of the intended recipient, if you are not the intended recipient, any copying, forwarding, printing or distribution of this e-mail is prohibited and may be unlawful and any action taken or omitted to be taken in reliance on the contents of this email or its attachments is at your own risk and, to the fullest extent permitted by law, GAC accepts no responsibility or liability to you. If you have received this e-mail in error, please notify us immediately, delete it from your system and destroy any copies of it (and any attachments).

    When addressed to our clients, any advice or opinion contained in this email (and any attachments) are subject to the terms and conditions expressed in the relevant governing engagement terms.

    Whilst we have taken reasonable precautions to ensure that any attachment to this e-mail has been swept for viruses, e-mail communications cannot be guaranteed to be secure or error free as information can, inter alia, be corrupted, intercepted, lost or contain viruses. GAC does not accept liability for such matter or their consequences. In communicating with you by e-mail you accept these risks.

    Please note that communications sent by or to any person through our computer systems may be viewed by other GAC personnel and agents. Anything in this e-mail (and any attachments) which does not relate to GAC’s official business is neither given nor endorsed by GAC.

    From: John Leach’s Blog Reply-To: John Leach’s Blog Date: Wednesday, 19 March 2014 12:02 To: Shaughan Farrow Subject: [New post] From concept to revenue johnleachwp posted: “For the last few years I have been trying to create a simple model that allows individuals to assess the commercial viability of business opportunities and innovative ideas irrespective of where this idea is created (university lab, industrial R&D d”

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: