Assignment 1. Experimentation and Market Analysis
Hopefully, you’ve started to see the mindset of entrepreneurs in a clearer light. Innovative ideas are not just for the Steven Jobs or Elon Musk’s of the world but can be far simpler and far less “sexy” yet still be practical and profitable. Once you’ve identified your ideas and had some thoughtful self-reflection on who your target market and target customer are, it’s time to test your hypothesis. The way this is don is through Market Analysis and Feasibility Studies. They can be as complex as a detailed demographic study which includes extensive interviewing, surveying, or research. It can also begin with a fun exercise called Storyboarding.
Artistic talent is not required. Simply focus on visually representing the four aspects of your idea:
As you create sketches, questions will probably arise related to your idea. Once you’ve completed the storyboard, write a list of all the questions that you have, now that you’ve envisioned your idea into action. Identify the three questions you want to answer first.
Assignment 2. Activity
- Review pages 160-164 in the text (https://www.nngroup.com/articles/storyboards-visualize-ideas/) and the PowerPoint slides to become more familiar with storyboarding.
- First review the following internet blog post (https://www.edrawsoft.com/best-6-storyboard-creator.html) rating the various free storyboarding online apps available in the market.
- Select one that you feel most comfortable with
- Develop a four-quadrant storyboard to address a problem of your choice with your team and present it to your class.
- Collect questions that were generated and respond to them.
- How did the process impact your initial ideas?
Upload your file into the assignment as an attachment or cut and paste into the text (reach out to me if you have problems doing this in CANVAS). You can answer the questions directly into the assignment answering section in CANVAS.
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