What is discovery?
Discovery is a process of finding the limits and boundaries of you, your team and your environment. This is like getting the know the playing field you are in and reading the rulebook. In this case the rules and limits are not given but created by you and your team.
You can use the following discovery process for this step.
Put your knowledge on the table
Starting an entrepreneurial venture around things you know or would like to learn will greatly improve your motivation. Do the following:
- Make a knowledge chart/list of you special skills and experiences that you have.
- Write down things you would like to learn.
Those things should give you some direction where you would like to head your company.
Think your own limitations
Thing how much time and resources you can put to company. Think this as the boundary of the innovation process that will help you to narrow down and make your ideas more targeted to your reality.
Think your knowledge and limitations before starting your brainstorming and you will have a solid foundation for great idea-hunt.
Next you can go on for look out for ideas or create new ones.
a) Look around for improvement opportunities & waste
Good ideas are often found in observed waste, pain points or own needs. Put on your “discovery mode” and try to look around and see what kind of opportunities the world is suggesting to you. If you look the world in the eyes of an entrepreneur, you will notice that there are multiple opportunites hanging around. Not all of them good – though.
Constantly think if certain action or service was badly done, wasting a lot of resources or giving bad experience to customer. When you find something, ask the follow up -guestions (either from yourself or from friends):
- Can I do it better?
- Can I charge customers for it?
If not, then the idea may not be for you.
b) Be the super early adopter – Life in the future?
Most things have been available, but not widely used, before there is a service or company to bring them to masses. Try out new products and services and think how to use them to leverage your knowledge. Use your own area of expertice to look for improvement opportunities or think if you could use the service to develop your business.
Think the sentence ”In the future everyone is doing/using X?”,
- What I need to do to make it happen?
- How can I be part of this growing market?
Example: Read how people are building business in youtube.
This means that entrepreneurial people are creating youtube -content and they receive compensation for their work. Early adopters have more opportunities than those who are late in the game.
What is the next thing you can adopt and leverage your knowledge?