Disciplines of innovation and Elevator Pitch

There are five disciplines of innovation such as:
1. Important customer and market need
2. Value creation
3. Innovation champions
4. Innovation teams
5. Organization alignment.

Some business ideas come from a careful analysis of market trends and consumer needs, and other come from serendity (ideas that come out of blue). If you are interested in starting a business, but do not know what product or services you might sell, exploring these ways of getting business ideas will help you to choose.
• Examine your own skill set for business ideas.
• Keep up with current event and be ready to take advantage of business opportunities.
• Invent a new product or services.
• Add value to an existing product.
• Investigate other markets.
• Improve an existing product or service.
• Get on the bandwagon.

Have you think that someday you will be in an elevator with Donald Trump? What will you do? Smile? Keep quite? Or just pretend you did not know him? To be a successful entrepreneur, you should have the skills and have a good elevator pitch. The question is what is an elevator pitch?

An elevator pitch is a short verbal introduction that explains what your business does and how it benefits your customer. This pitch is crafted and delivered to pique curiosity in the customer's mind. We can briefly describe our company, product or our individual skills. For instance, we can give an interesting tidbit about our company's history or share a statistic about our product's market success. We also can explain the market to which we are selling. Try to use two sentences or less and highlight who the group is, what industry, and what percentage of the market it represents. If we are selling your own skills, briefly discuss the market we have targeted in the past or would like to target in the future. Detail who or what is our competition. Knowing our competition will help prepare to defend our product, company or skills. And yet, describe our competitive advantage. What is it that sets you, your company or your product apart from all the rest? Last but not least, end with a request. Would you like a business card, a phone number or an appointment for a future discussion? Be sure to make your request and set your follow-up.