Category Archives: Entrepreneurship

Innovation in the Fairway

Innovation in the Fairway

Twenty-three-year-old inventor Arnold Du Toit was recently named Britain’s best young entrepreneur by PC World Business for the Rolley. Here is some background information about Arnold from the announcement:

“Arnold started his firm when he was 21 years old in his final year of university. The idea came about after his friend complained that a full round of 18 holes took too long. Arnold captured the judges’ imaginations with his entrepreneurial spirit in getting the Rolley to market by overcoming financial and patent issues. The judges praised the Rolley’s design, with its lightweight fold-up dynamics that make it easily transportable, and his use of social media. They were also excited by the potential to rent fleets of Rolleys to golf courses and Arnold’s plans to diversify the technology into security, airports and factories.”

When I came across this announcement, a couple of things struck me. First, the power of programs like the Enterprise Associate Scheme at London South Bank University to stimulate innovation and entrepreneurship by supporting aspiring inventors and entrepreneurs in their quest to find out whether they may have the next great innovation.

Second, it was interesting in speaking with Arnold that the concept of a hop-on power trolley has been around for some time, but has not made the leap yet from invention to innovation. As I have said before, true innovation is typically a slow process, and often we forget that. Inventions do not often turn into innovations until the solution has passed a certain price/performance threshold and until a certain person in the chain of inventors identifies where the biggest value is created by the solution, and helps people access that value and translates that value for the target customers better than any of those that came before them. It looks to me like the Rolley may be achieving the right combination of value creation, value access, and value translation to become a successful innovation. Only time will tell.

I had the opportunity to interview Arnold recently about his experience in developing the Rolley and the text of the interview and some bonus material follows:

1.Why is now the right time for the Rolley?

The Rolley stands at the forefront of Electric Vehicle (EV) management, which is what the Drive Daddy Ltd Brand is all about. Using our TWINDRIVE technology we are introducing the Hop-On Rolley Golf now, but this is the only first of many innovative Rolley concepts. We have other concepts in the pipeline including our Rolley Port/Lift… project with factories and logistic sectors that will feature our new EV technology. There is no better time than now to be thinking about where the future of transport is going. The popularity of hybrid cars, electric bicycles, folding “transportables” and the growing need to for space conservation are all intersecting to point to a future where smart lifestyle products such as the Rolley will be an increasingly integrated part of our life.

2. Does the Rolley augment or transform the golfing experience? How so?

Rolley Video PrepGolf is a delicate and well-refined sport and leisure activity, with quality, confidence and professionalism at its core. The Rolley Golf offers freedom to golfers who want or need to maximise their golf performance and get exercise to maintain health, without hindering the consistent energy needed to complete a round of 18/36 holes. Some golfer need to relax during the back nine or simply do not have the time to otherwise get the most out of the memberships, given that young golfers need to typically invest 4 hours on average to complete a round (their through rate). Golfers can either walk freely with the Rolley Golf in power assisted trolley mode, utilize the Rolley Remote-Control, or green to tee or on a steep long incline utilize the unit in a swift Hop-On & ride mode. Rolley Golf boasts a compact and lightweight folding dynamic which rivals or betters the current power assisted trolleys which do not offer a hop-on aspect.

3. Why hasn’t someone done this before?

Hop-On is our own unique design/engineering philosophy, allowing golfers to walk, or to hop on and rolley about so they can streamline and focus performance effort where its needed, their swing. The idea of a ride-on golf trolley has been around since the 60s, Google this if you like. But these, albeit great concepts, focused primarily on the ride-ability and not on what golfers actually want to-date. So the Rolley grabs an entirely new market with a Hop-On Philosophy. Golfers and people in general are smart by nature. Therefore the Rolley Golf caters for choice, and how you chose your choices is how you determine smartness (that is a little deep) and we are working with a unique team of young creatives based in London, YawnCreative.com, who are helping us share the Hop-On Rolley revolution. This is our greatest value proposition (USP).

4. Tell us about the Enterprise Associate Scheme and how it helped make the Rolley a reality

London South Bank University’s Enterprise Associate Scheme (EAS) acts as a board of investors who (like Dragons Den) allow entrepreneurs to pitch for a 2 year business incubator, with Legal, Patent protection, Finance, business support, office space, laboratories, machine shops… and a Masters degree in Enterprise (and trust me, completing a masters and trying to run your own start-up is a hand-full, many late night classes, but worth every minute). Well, if you are lucky enough and you make the cut (only 3-4 ideas a year get chosen out of hundreds of applications), then they financially support you, and offer unique financing processes to help you develop your idea and business into concepts. And, if you really gun-it then you could even reach manufacturing and sales in your two year stint as a enterprise associate. And for this “investment” – which is hard to quantify (around £100-200k of value) – they only have a 10% share in your company. The support can even continue in terms of free office space and IP protection for as long as you have a business. I believe it is the closest to winning the lottery that any hard working entrepreneur can get. Especially as they take you through this EAS from as little as an idea on a napkin (providing you can sell your pitch of course).

5. Who are the inventors, entrepreneurs, or innovators that have inspired you?

I am proudly the inventor of TWINDRIVE and the Rolley innovations, but I work in a business incubator where you are surrounded by aspiring and hungry entrepreneurs who alone can make you happy it is Monday again and sad when Friday arrives. Luckily we can even work weekends! These young venturists support and drive you through the rough patches (which there are many, many of these). On the other hand, I love meeting people and I have met some great and inspiring Inventors through the EAS such as James Barnham (to name one of many) and also some truly amazing entrepreneurs such as Neil Whitehead from Stuff ID. There is also a truly supportive group of mentors from all walks of life. But the one person who requires a stand alone recognition for inspiration is my farther David du Toit – my foundation and idol.

6. Tell us about your aha moment

Rolley FounderI have many loves in life – women, cars, golf and engineering. These passions help me notice opportunities. I spotted one on the golf course one day playing a round with dad, as one of his friends was a little tired (hungover) and tried to hop on his power trolley. This unfortunately did not carry him as he’d hoped but instead broke. Frustrated at the £800 he spent on it (about $1300), he started giving it the 7 iron. Through the shards of plastic and circuitry I got my eureka moment for a final year project – this was back in 2006. I developed the concept of a hop-on golf trolley during 2008/2009 as a final year project for my undergraduate course in Engineering Design at London South Bank University (LSBU). The chap with the busted up power trolley would soon become my first customer 🙂

7. What was the obstacle that almost kept the Rolley from becoming a reality?

If I look back at who I was two years ago, I would have to say finance was a big obstacle, but you soon realise that there are ways around the money hurdle. It gave me a good lesson, and over time I’ve learned to negotiate and present opportunities to those who hide behind invoices. Strategic partnerships can also be a smart way of sharing technology platforms, finance and advice. They can also be founded upon contract and equity sharing, thus reducing the hard cash requirements of the venture. Another real hurdle would be time, but being aware of the constraints that this presents helps has helped reinforce the golden rule of under promising and over delivering.

8. Do you have any advice to other inventors/entrepreneurs/innovators out there?

Look after every single person who seeks advice from you, or admires a quality that they see in you. As entrepreneurs in our day and age it is vital to support each other. Seek events and enterprising communities that will provide mutual encouragement and support. In London we have the Virgin Media Pioneers, and this is a great place to share advice and meet like minded folk. Your contacts, and I mean “real relationships with honest people”, and working to create win-win relationships are going to be two ways to move things forward. Most importantly, where possibly try not to re-invent the wheel. Look at your idea and see if there are companies who do an aspect of your invention better that you, talk to them, and remember that any new revenue stream for a smart company must be structured as a win-win. And, of course please feel free to follow @RolleyGolf to see our progress 🙂

Conclusion

I will be interested to see how the Rolley progresses. Arnold and the crew have embarked on a world tour to launch the product and are producing a video to showcase it (sneak peek here). It will be interesting to see whether now is the time for the hop-on golfing revolution to begin.

The Rolley is not the first invention addressing the hop-on golf trolley idea, but will it be the first one to bridge the gap between invention and innovation?

To watch some of the progression in this solution area, here are two other takes on the hop-on golf trolley. The first is the SWIGO from three and a half years ago, followed by the MANTYS from 21 months ago:

Subscribe to Human-Centered Change & Innovation WeeklySign up here to get Human-Centered Change & Innovation Weekly delivered to your inbox every week.

Innovation And Entrepreneurship Fatal Flaws

Innovation And Entrepreneurship Fatal FlawsScott Painter, Founder and Chief Executive Officer of TrueCar, made a great comment at an innovation event put on by The Economist about how all ideas have a ‘fatal flaw’. But like all great insights, on the surface the audience does not always recognize all of its potential impact on their thinking, and the author of the comment does not always recognize its transcendent ability to simplify and drive impact deep into the broader context of business.

The ‘fatal flaw’ comment was made in the context of entrepreneurs and the rose-colored glasses that they tend to wear when it comes to the warts of their idea. But, if you step back and take a wider view, the same thing about ‘fatal flaws’ can be said of all ideas, not just the ideas of entrepreneurs – take the ideas of innovators for example. Entrepreneurs and innovators share much in common, and successful entrepreneurs are often those capable of transforming useful inventions into valuable innovations.

Now, one thing that we all know to be true is that whether we are talking about the ideas of entrepreneurs or the ideas of innovators, people love to poke holes in anyone’s idea. And, when it is time to look for the fatal flaw of an idea, you have to harness this tendency of individuals, because you want to find the fatal flaw of an idea as early as possible.

The first reason that it is so important to find fatal flaws early is not so that you can strangle every potential innovation or potential new business in the crib, but so that you can make smart investments of your limited resources. We only have so much energy and resources to expend on developing ideas, so you want to cull those that will fail in the marketplace from your portfolio as early as possible to invest all your energy and resources into those that have the best chances of succeeding.

The second reason that it is crucial to identify the fatal flaws in ideas early is that often they are harder to see than their benefits, and so you want as much time as possible early on before resources are mobilized and the financial commitments escalate to evaluate whether or not the fatal flaws can be overcome.

You have to say to yourself: “Wow, this is a really great idea; what would make this fail in the marketplace? What would prevent this idea from succeeding with customers, and how do we solve for this? Can we solve for this?”

No idea is perfect, and so when you can identify the potential fatal flaws or the high hurdles that have to be overcome, you can challenge them, you can solve for them, you can unleash the passion of your team on trying to find a way around them. The fatal flaws are always there, and the wise entrepreneur or innovator doesn’t ignore them or assume that they will overcome them at some point in the future, but instead invests energy upfront into both trying to identify the fatal flaws of their idea and into identifying whether they can isolate the solutions before moving the idea forward.

Timing is a huge key to success both for entrepreneurial ventures and for the development of innovation. Sometimes the time is not right to proceed, and the smart entrepreneurs and innovators can recognize this.

So what’s the fatal flaw of your idea?

Are you ignoring it and pushing forward?

Or are you testing to see if you can solve it, and moving on if you can’t?

This article originally appeared on the American Express OPEN Forum.

Stoking Your Innovation Bonfire Accessible Comprehensive

Subscribe to Human-Centered Change & Innovation WeeklySign up here to get Human-Centered Change & Innovation Weekly delivered to your inbox every week.

Illusions of Entrepreneurship

Illusions of EntrepreneurshipMany of you out there are entrepreneurs, running small businesses (or big ones), struggling to make your business successful. But when did you first know that you were destined to be an entrepreneur? And what challenges or ridicule have you endured as the result of your decision to quit a stable job or perhaps to never take one?

What possessed you to instead pursue either an independent lifestyle business or to attempt to build something that scales and becomes the hopefully stable employment for others?

I had the opportunity to sit down with Lara Feltin, one half of the husband-and-wife team that started a small business networking community in Seattle six years ago and now boasts more than 65,000 members around the country. Their community started with the tagline ‘Business networking that doesn’t suck’ but they have since switched the tagline that goes with their Biznik site to ‘Going it alone, together.’

Biznik, while sometimes compared to LinkedIn or Facebook, is not about marketing but about building relationships—specifically connecting solopreneurs and small business people with each other, hopefully creating long-term mutually beneficial connections. The site started as an attempt for professional photographer Lara Feltin and Web developer Dan McCombs to connect and share with their fellow entrepreneurs. But it has evolved into a service that tens of thousands of other entrepreneurs now use to connect with each other online and offline.

That mix of online and offline connections has served as a strong growth engine in places like Seattle, where Biznik counts 15,000 people as members. And if money were no object, the couple would probably invest more resources in helping to foster a stronger online/offline connection between community members. But, living within constraints has helped the site be self-supporting, live within a budget and prioritize future development effectively.

Continue reading the rest of this article on the American Express OPEN Forum.


Build a Common Language of Innovation on your team

Subscribe to Human-Centered Change & Innovation WeeklySign up here to get Human-Centered Change & Innovation Weekly delivered to your inbox every week.

For Sale – Innovative Business Idea

For Sale - Innovative Business IdeaA few years ago I looked around the corporate and consulting landscapes and I noticed that there was a talent gap in both places. There are many occasions when consulting firms look to their bench and don’t have the talent they need there to fulfill a client need right away and so sometimes they lose business to their competition. And on the corporate side, there are many occasions when a manager or director has more work than they can possibly do themselves and what they really need is not a consultant but a smart, flexible resource that can parachute in and get up to speed helping them very fast. Having been called in to fill both of these kinds of gaps from time to time alerted me to the existence of these two market needs, and so I started to create extendedbench.com.

There is definitely a need for an ‘extended bench’ or a ‘talent stable’. Unfortunately I don’t have time to build out this business and in an effort to simplify my life, I thought I would put the web site and the associated domains and collateral, pitch decks, etc. that I’ve started up for sale to someone who has a passion for realizing the idea – probably someone from a staffing or recruiting background.

The following domains are included in the sale:

  • extendedbench.com
  • talentstable.com

Have a look at the web site, decide what these assets are worth to you to accelerate your entrepreneurial pursuit, and make an offer (no offer too low).

And if you think the idea is terrible, sound off in the comments about why.

Subscribe to Human-Centered Change & Innovation WeeklySign up here to get Human-Centered Change & Innovation Weekly delivered to your inbox every week.

Become a Certified Nine Innovation Roles Workshop Facilitator

In support of my crowdfunding project over on IndieGoGo I am offering an incredible deal to the first TEN (10) individuals to grab this perk:

Grab the Nine Innovation Roles Workshop Facilitator Certification Perk

In exchange for each $500 investment, the first TEN (10) people anywhere in the world will get:

  1. One of only TEN (10) spots in an online seminar where I will personally train you on how to facilitate a Nine Innovation Roles workshop or public seminar
  2. A share of any Nine Innovation Roles Workshop leads that I can’t fulfill myself
  3. A Nine Innovation Roles Seminar Pack – which includes TEN (10) Nine Innovation Roles Group Diagnostic Tools to use with your first set of workshop participants (a $199.99 value)

This is a great opportunity to add the Nine Innovation Roles Group Diagnostic Workshop to your roster of innovation services that you offer to clients. You should be able to charge between $2,000-$5,000 + expenses for each of the sessions you facilitate depending on the length and amount of custom content, so you should recoup your $500 investment after running your first workshop or public seminar.

You can click to read more about The Nine Innovation Roles.

Grab the Certified Nine Innovation Roles Workshop Facilitator Perk

The Nine Innovation Roles diagnostic workshop will create a fun, interactive experience for innovation teams or organizations to use to help people better understand what roles they fill on innovation projects, why the team’s or organization’s innovation efforts are failing, and how they can together improve the innovation performance of their teams or organization.

Design for Nine Innovation Roles Group Diagnostic Tool

So, grab this Amazing Innovation Keynote and Nine Innovation Roles Workshop Deal and help your innovation teams be more successful in the future. Don’t wait. Be one of only TEN (10) people worldwide to get this perk, or pre-order the seminar kit and run run workshops or seminars on your own.

Subscribe to Human-Centered Change & Innovation WeeklySign up here to get Human-Centered Change & Innovation Weekly delivered to your inbox every week.

Innovation Costs of Reducing the Flow of Immigrants and Travelers to USA

Innovation Costs of Reducing the Flow of Immigrants and Travelers to USA

September 11th was a traumatic event for the psychology of the nation but also for its innovation capacity. After 9/11 the United States started admitting fewer highly skilled immigrants, invited fewer students to come study here, and companies and consumers cut back on their travel budgets.

These factors, along with many others, combined to reduce the amount of face to face collaboration and created new innovation headwinds for the country.

In 2001, Michael Porter of Harvard Business School published a report ranking the United States as #1 in terms of innovative capacity. By 2009, the Economist Intelligence Unit had dropped the United States in its innovation rankings from #3 between 2002 – 2006 to #4 between 2004 – 2008. The most recent Global Innovation Index has the United States falling from #1 in 2009 to #7 in 2011 — behind Switzerland, Sweden, Singapore, Hong Kong, Finland, and Denmark.

If you’re the United States, not being #1 anymore is a definite concern. Innovation drives job creation, and any decrease in the pace of domestic innovation will ultimately lead to lower economic growth. As the United States slides down the innovation rankings, restrictive immigration policies suddenly look less smart.

The number of foreign student visas increased by a third during the 90s, peaking in 2001 at 293,357 before dropping post-9/11 by 20 percent nearly overnight. It took five years before foreign student visa numbers recovered to 2001 levels. Last year, 331,208 foreign student visas were issued.

But a drop-off in highly skilled immigration does not account for the entire drop in America’s innovation leadership. Another headwind that hit post-9/11 was the drop-off in travel in America. In August 2001, 65.4 million airline passengers traveled to the country. It took three years for passenger growth to resume.

Travel — both corporate and leisure — is important to innovation for three main reasons:

  1. People see and experience things that spark new ideas
  2. Face-to-face meetings deepen human connection and improve productivity and collaboration.
  3. Innovation partnerships and acquisitions are often made in-person.

The United States is at an innovation crossroads. We must commit to attracting more innovators to this country, and to traveling abroad more. Not doing so is guaranteed to exacerbate America’s slide from innovation leader to laggard.

This article first appeared on The Atlantic before drifting into the archive

Build a Common Language of Innovation

Subscribe to Human-Centered Change & Innovation WeeklySign up here to get Human-Centered Change & Innovation Weekly delivered to your inbox every week.

Innovation or Invention? – Gyroscopically Stabilized Electric Motorcycle

Innovation or Invention? - Gyroscopically Stabilized Electric MotorcycleI came across the C-1 from Lit Motors in an article by Donna Sturgess over on Innovation Excellence that made me wonder, will this be an invention or an innovation?

As you may know my definition of innovation stresses that a new offering must transform the useful seeds on invention into solutions valued above every existing alternative. An there are lots of existing alternatives in this space including:

  • Bicycle
  • Public Transportation
  • Skateboards and Razr Scooters
  • Smart ForTwo
  • BMW C1 (launched in 2000)
  • Standard Motorcycle
  • Standard Scooter
  • Segway
  • Segway Hands-Free
  • Nissan Leaf (and variants)

Is the gyroscopic stabilization and electric drive enough to distinguish it from some of these other options?

What about at a price of $24,000 – up from earlier estimates of $16,000?

For me there are a couple of key questions. Are they going to try to keep it categorized as a motorcycle or try and get it categorized as a car? And if so, will it survive the car crash safety tests. Although getting it re-classified as a car might make it more accessible (no motorcycle license needed), I have a hard time thinking the greater access would offset the publishing of head on and rear crash test results (and pictures). So, I would place this one in the invention camp – unlikely to reach wide adoption.

What do you think? Invention or innovation?

Is this something that will catch on with commuters around the world?

Build a Common Language of Innovation

Subscribe to Human-Centered Change & Innovation WeeklySign up here to get Human-Centered Change & Innovation Weekly delivered to your inbox every week.

Global Innovation Index 2011 – Innovation Efficiency

Global Innovation Index 2011 - Innovation EfficiencyThis article is the third in a series of four articles digging into the recently released Global Innovation Index 2011 put together by Insead along with knowledge partners Alcatel-Lucent, Booz & Co., the Confederation of Indian Industry (CII), and the World Intellectual Property Organization (WIPO).

There is a lot of data in the Global Innovation Index 2011 and so I thought it would share it with you bit by bit to make it digestible and then share my overall thoughts. In previous articles we shared the country rankings and the input/output rankings.

Below you’ll find the country rankings based on innovation efficiency (an index comparing the innovation outputs to inputs):

Global Innovation Index 2011 - Innovation Efficiency

In the final article – coming soon – I will give my analysis of the outcomes and implications of the Global Innovation Index 2011. Until then, feel free to sound off in the comments about whether you believe your country’s position in the innovation inputs or outputs rankings are justified or off base.

Additional Global Innovation Index 2011 Articles:

#1 – Global Innovation Index 2011 – Country Rankings
#2 – Global Innovation Index 2011 – Inputs and Outputs
#3 – THE ARTICLE ABOVE
#4 – Coming Soon – Global Innovation Index 2011 – Final Analysis

In the meantime, consider following the Human-Centered Change & Innovation page on LinkedIn.

Subscribe to Human-Centered Change & Innovation WeeklySign up here to get Human-Centered Change & Innovation Weekly delivered to your inbox every week.