Solving The Problem
According to Mark Briggs, author of our course textbook Entrepreneurial Journalism, some of the most successful startups began by solving a problem that the company founder faced in her/his daily life. In Chapter 5, he cites Sabeer Bhatia and Jack Smith as one example. Bhatia and Smith wanted to have the ability to access their work email accounts from any computer with Internet access regardless of firewalls used by their employers. To solve their problem, they created Hotmail.
With Homework 1 you’re going to start identifying some possible startup concepts for your new business venture. One way to think about new products is to identify specific problems you face in activities you perform on a regular basis. Ideally, other people face this same problem, and they would be interested in the solution you develop to the problem.
Chapters 4 and 5 of the Briggs’ text will help you get started on this endeavor. Chapter 4 focuses on innovation: How does one innovate? What are the essential elements of innovation? Chapter 5 helps you to identify if your idea is just that — an idea — or does it have the potential to become a viable business concept.
During our Sept. 9 class you’ll be presenting two to three initial digital media startup concepts. See the Homework 1 handout under the Assignments tab for complete details.
We’ll help brainstorm your ideas during Monday’s class session.