00:00:02
how did one man Howard Schultz the CEO
00:00:04
of Starbucks know that America would be
00:00:07
willing to wait in line to spend $3.50
00:00:10
for a cup of coffee did Fred Smith the
00:00:12
founder of Federal Express dream up the
00:00:14
concept in a moment of Brilliance or did
00:00:17
it take longer than that did Thomas
00:00:19
Edison come up with the idea for the
00:00:21
light bulb from a dream or did he
00:00:24
actually observe something and create a
00:00:26
smaller more effective version of it how
00:00:28
did turning things upside down Down lead
00:00:30
to the discovery of New Opportunities
00:00:32
like the GPS what is value and how do
00:00:35
you know it when you see it if we listen
00:00:37
to customers will they tell us what we
00:00:39
need to know or will they give us
00:00:41
short-sighted answers that curb our
00:00:43
creativity do entrepreneurial
00:00:44
opportunities materialize themselves to
00:00:46
only a lucky few through a moment of
00:00:49
inspiration or are there patterns to
00:00:53
discovering opportunities and if there
00:00:54
are patterns can we learn from them and
00:00:56
use
00:00:57
them entrepreneurs have been spotting
00:00:59
opportuni for a very long time their
00:01:01
stories of inspiration and vision and
00:01:04
tenacity fill the pages of
00:01:06
entrepreneurial textbooks and images but
00:01:09
what we don't often look at is the
00:01:11
sequence of events that lead up to these
00:01:13
opportunities being identified and if we
00:01:15
actually spend time looking at them
00:01:17
we'll see patterns and these patterns
00:01:19
are broken down into a series of
00:01:21
predictable ways that many entrepreneurs
00:01:24
actually have discovered their
00:01:26
opportunities we will be discussing six
00:01:28
different ways that entrepreneurs
00:01:30
discover opportunities and the patterns
00:01:33
we will show you have actually been used
00:01:35
not only in more recent years but
00:01:37
through the last 100 years as some of
00:01:39
the most famous entrepreneurs have
00:01:41
discovered amazing opportunities one of
00:01:44
the most popular ways of spotting
00:01:46
opportunities is a method called better
00:01:48
faster cheaper smaller that is looking
00:01:51
at an existing Innovation and trying to
00:01:53
identify ways that you can improve upon
00:01:55
it in some significant way whether
00:01:57
that's making it smaller more powerful
00:01:59
more affordable in technology
00:02:01
entrepreneurship we see this happening
00:02:03
time and time again where new
00:02:05
Innovations and Technology will disrupt
00:02:07
existing Solutions think of mainframe
00:02:10
computers replaced by mini computers
00:02:12
mini computers replaced by desktops and
00:02:15
laptops and now being replaced by
00:02:17
tablets and phones in technology
00:02:20
entrepreneurship this is a matter of
00:02:22
course that happens again and again and
00:02:24
again some of the most famous
00:02:26
entrepreneurs follow the same process in
00:02:28
fact Thomas Edison one of the most
00:02:30
famous entrepreneurs used this to
00:02:32
develop several of his inventions and we
00:02:34
think of the photograph we think of
00:02:36
motion pictures but one of the most
00:02:38
powerful inventions of Thomas Edison's
00:02:40
followed this process specifically the
00:02:42
like
00:02:46
bulb Thomas Edison was an amazing
00:02:49
entrepreneur his work on the light bulb
00:02:51
is cited as a work of tenacity and
00:02:53
vision that is cited in many
00:02:55
entrepreneurial
00:02:56
stories Thomas Edison once quoted as
00:02:59
saying I didn't fail a thousand times
00:03:01
trying to find the right filament for
00:03:03
the incandescent bulb I actually
00:03:04
discovered a thousand ways not to create
00:03:07
the light bulb in 1879 he finally
00:03:10
succeeded but how did he originally spot
00:03:12
the
00:03:13
opportunity to answer that we have to
00:03:16
start 70 years earlier in 1809 40 years
00:03:20
before Thomas Edison was even born an
00:03:23
English chemist Humphrey Davy actually
00:03:26
created the first incandescent
00:03:28
electrical light source
00:03:30
using two charcoal strips in effect the
00:03:33
ark lamp was
00:03:35
born it wasn't until the 1850s that
00:03:37
attempts were even made to commercialize
00:03:39
the AR lamp however there really wasn't
00:03:41
a reliable source of
00:03:44
electricity it took until the 1870s when
00:03:47
a reliable electrical source was
00:03:49
available that electrical art lamps Arc
00:03:52
lamps actually started appearing on the
00:03:54
street corners of the United States 70
00:03:58
years of groundwork have been laid in
00:04:01
preparation for the next
00:04:03
opportunity finally in 1878 at the Paris
00:04:07
World Fair an event was
00:04:10
scheduled they were going to turn on the
00:04:12
street lamps at night Spectators from
00:04:15
all over the world innovators
00:04:17
entrepreneurs who had gathered to show
00:04:18
their inventions at the Paris World Fair
00:04:21
gathered on the street to witness the
00:04:23
event at the right moment they threw the
00:04:26
switch and light bulbs 200 times the
00:04:29
brightness of modern today's lights lit
00:04:32
up the
00:04:33
streets the moment was amazing and
00:04:36
inspired everyone in the audience in
00:04:39
that audience was a young innovator
00:04:42
named Thomas Edison Thomas Edison
00:04:45
attended this fair in 1878 to show off
00:04:48
his megaphone and photograph
00:04:50
inventions and it was there he observed
00:04:52
these large electric street lamps or Ark
00:04:54
lamps and became inspired in fact vowed
00:04:57
that he would create a small smaller
00:04:59
more effective version after many months
00:05:03
of hard work he succeeded he created a
00:05:06
incandescent bulb that would burn for 13
00:05:08
and a half
00:05:09
hours Thomas Edison's story of tenacity
00:05:13
and vision are great examples of
00:05:15
entrepreneurial success and his focus on
00:05:18
creating a smaller faster cheaper
00:05:21
solution was a great
00:05:23
opportunity one great example of this is
00:05:27
in the story of Starbucks and how one
00:05:29
man Howard Schultz observed patterns and
00:05:33
value being created in one location and
00:05:35
was able to transfer it to another
00:05:38
location now you have to remember Howard
00:05:40
Schultz wasn't the founder of Starbucks
00:05:42
Starbucks was founded in 1971 by three
00:05:46
individuals a English teacher um Jerry
00:05:49
Baldwin a history Professor Z Seagull
00:05:52
and a writer Gordon Bacher these three
00:05:55
individuals founded Starbucks in 1971 in
00:05:58
Seattle with a passion for selling
00:06:00
coffee beans and coffee makers for
00:06:03
consumers who wanted to brew their own
00:06:05
coffee at home they never intended
00:06:08
Starbucks to be a place where you
00:06:10
actually buy brewed coffee espressos and
00:06:12
lattes in fact the idea was something
00:06:15
that were very much
00:06:16
against at the same time across the
00:06:19
country in New York a young Howard
00:06:21
Schulz was working as a general manager
00:06:24
of a coffee a drip coffee manufacturer
00:06:27
and was reviewing his sales numbers one
00:06:29
day and noticed a pattern in the data he
00:06:32
saw an unknown store in Seattle was
00:06:35
ordering more coffee pots than Macy's
00:06:38
think about that a small unheard of
00:06:41
store ordering more coffee makers than
00:06:45
one of the largest retailers in the
00:06:46
country Howard Schultz noticed this
00:06:49
pattern and had to find out why in going
00:06:52
to Seattle visiting the Starbucks Pikes
00:06:55
Play Store he fell in love with the idea
00:06:58
of coffee beans and how you would
00:07:01
actually use that in order to provide
00:07:03
customers a new product and very shortly
00:07:06
after that became their director of
00:07:08
marketing he saw a pattern that was out
00:07:10
of phase and
00:07:12
acted there's a second experience that
00:07:15
happened in Starbucks several years
00:07:18
later Howard Schultz was sent on an
00:07:21
assignment to Milan Italy to actually
00:07:24
attend a show um that where many people
00:07:27
who were manufacturing coffee makers and
00:07:29
drip coffee makers were showing their
00:07:31
products and this was a discovery trip
00:07:33
for him to learn more about products
00:07:35
they could sell in the store it was
00:07:37
during this trip to Milan that Howard
00:07:39
Schultz happened to go into a Milan
00:07:41
espresso Espresso shop and in that he
00:07:44
saw for the first time an atmosphere
00:07:48
where people were purchasing uh
00:07:50
espressos the Barista was engaging the
00:07:53
customers there was a lot of deep
00:07:55
conversations and a whole experience for
00:07:57
him opened up in way way coffee could be
00:08:00
bought and sold but that was just one
00:08:03
experience throughout the day Howard
00:08:05
Schultz actually visited several
00:08:07
espresso bars and the same pattern kept
00:08:10
emerging what he saw was the value being
00:08:13
created in this one location and thought
00:08:16
about could this Valley be transported
00:08:18
to
00:08:19
Seattle and the rest is history Howard
00:08:22
Schultz came back to Seattle and
00:08:24
eventually introduced the modern-day
00:08:26
Espresso Bar that we now see in the
00:08:28
United States
00:08:29
and that aspect of noticing patterns
00:08:33
patterns that are out of phase and value
00:08:35
that is in one location that could be
00:08:37
transported to another location are
00:08:39
great ways to spot
00:08:41
opportunities one way people find
00:08:44
Opportunities is by observing patterns
00:08:47
and transferring value from one location
00:08:49
to another in fact we're as a as a
00:08:53
society and humans we love watching
00:08:55
patterns and tracking patterns is
00:08:58
something that we're very good at
00:08:59
um but what's interesting is that
00:09:02
sometimes there are patterns of things
00:09:04
that are slightly out of phase slightly
00:09:07
different that entrepreneurs will notice
00:09:10
and detect those patterns will lead to
00:09:12
amazing
00:09:14
opportunities additionally seeing value
00:09:16
created in one place and the pattern of
00:09:18
that value and transferring that value
00:09:21
to another location is another thing
00:09:23
that entrepreneurs do quite well this
00:09:26
observing patterns transferring value
00:09:28
from one location to another is
00:09:30
something that many entrepreneurs find
00:09:32
is a great way to spot
00:09:36
opportunities not all ideas are spotted
00:09:40
some are created or born but that
00:09:43
doesn't do it justice because the truth
00:09:45
is many Amazing Ideas started many years
00:09:49
before any of us ever find out about
00:09:51
them and they evolved over a Seri of a
00:09:54
period of time we call this evolving
00:09:56
Vision a tremendous way that that
00:09:59
opportunities are spotted and developed
00:10:01
whether it's the iPad which is an
00:10:04
amazing mobile technology
00:10:06
platform or the internet itself both
00:10:09
these Technologies were conceived of
00:10:11
many many years before it actually came
00:10:13
to market the internet originally
00:10:16
conceived in 1950 as a peer-to-peer
00:10:18
protocol between computers took 45 years
00:10:22
until eventually evolved into the modern
00:10:24
commercial
00:10:26
internet this aspect
00:10:31
this aspect of idea evolution is very
00:10:34
common but something that we don't often
00:10:36
pay attention to but you can see it in
00:10:38
amazing F famous stories such as Federal
00:10:41
Express the Federal Express story is a
00:10:44
great example of an evolving Vision over
00:10:46
time Fred Smith the founder of FedEx
00:10:50
actually was a amateur pilot and as a
00:10:53
teenager he learned to fly but in
00:10:56
1962 at Yale University
00:10:59
he is now credited with a famous paper
00:11:01
he wrote in an economics class about a
00:11:03
future computerized Society where
00:11:05
computerized transactions would automate
00:11:07
life for everyone and people talk about
00:11:10
that moment as the moment which federal
00:11:13
express was born from but what people
00:11:15
don't realize is there's a lot more to
00:11:17
it than that at the same time Fred Smith
00:11:20
who is already an amateur pilot was
00:11:23
attending Yale he was also a charter
00:11:25
flight uh Captain uh moving people from
00:11:29
place to place on private jets or
00:11:30
private airplanes and it was actually
00:11:33
the people he was moving that was rather
00:11:34
interesting he was moving computer and
00:11:36
Technology Executives who were trying to
00:11:38
solve logistic problems with broken
00:11:41
computer parts so this is part of what
00:11:44
was happening in Fred's life when he
00:11:45
wrote that
00:11:46
paper after Yale from 1966 into 1970 or
00:11:51
69 Fred Smith actually went to Vietnam
00:11:54
and was a platoon leader in the Vietnam
00:11:56
War and it was during these years that
00:11:58
that he observed logistic challenges
00:12:02
that the military was having moving
00:12:03
supplies and equipment through air and
00:12:06
ground gave him Keen insights to some of
00:12:09
the challenges that exist in managing
00:12:11
Logistics in a on a large scale it was
00:12:14
after this a youth as a pilot a charter
00:12:18
flight Captain his time at Yale seen
00:12:22
computer technicians having to resolve
00:12:24
issues with Logistics on ground and air
00:12:26
as a charter flight Captain and the
00:12:28
military logistic management he saw that
00:12:31
all went into the future Federal Express
00:12:33
Vision after the Vietnam War that's when
00:12:36
Fred Smith finally pulled together
00:12:38
enough of the components to launch
00:12:40
Federal Express this evolving Vision
00:12:43
took many years to come fruition but it
00:12:46
is very much a common way many
00:12:48
entrepreneurs
00:12:56
succeed so another really interesting
00:12:59
way that people discover new
00:13:01
opportunities is through a concept we
00:13:03
call idea inversion and that is turning
00:13:06
things upside down and looking at the
00:13:08
world differently than the original path
00:13:10
you were
00:13:11
on as humans we are really good at
00:13:14
pattern matching and some of the best
00:13:17
entrepreneurs watch for patterns in
00:13:19
daily activities in order to look for
00:13:23
new opportunities for which them to they
00:13:26
can build build
00:13:27
on but sometimes that actually boxes you
00:13:30
in into being too constrained in your
00:13:32
thinking and you almost need to turn the
00:13:35
world upside down or turn the ideas
00:13:37
upside down and approach it from a
00:13:39
completely different angle and we call
00:13:41
that idea inversion now what's critical
00:13:44
about that is when you are looking at
00:13:47
the world from a completely different
00:13:48
perspective is to not really focus on
00:13:51
whether your idea is possible you really
00:13:54
have to suspend all belief and just go
00:13:57
with a moment and and that'll help you
00:13:59
brainstorm and approach an idea in a
00:14:02
completely different angle which may
00:14:04
yield unexpected results so one of the
00:14:08
one of the really exciting examples of
00:14:09
this uh idea inversion is really the
00:14:12
story of what we now know as the
00:14:16
GPS if you go back to 1950s there was
00:14:20
actually an interesting problem trying
00:14:21
to be solved by the US
00:14:23
Navy you see the US Navy had equipped
00:14:26
some nuclear submarines with missile
00:14:29
systems that would allow them to attack
00:14:32
a country from any place on the Pacific
00:14:35
Ocean there was one small
00:14:37
problem although the Navy was really
00:14:40
good and has been good for hundreds of
00:14:42
years finding the location when at se
00:14:46
they couldn't do it reliably and quickly
00:14:48
in all weather conditions if a
00:14:50
subsurfaces in the middle of the Pacific
00:14:52
Ocean it has to know immediately where
00:14:55
it is
00:14:57
located at the same time this problem
00:14:59
was
00:15:00
happening on the other side of the world
00:15:04
in uh John Hopkins Applied Physics
00:15:07
laboratory there were scientists working
00:15:09
on a different
00:15:11
problem you have to go back to 1950s and
00:15:14
the Soviet Union and cold war with the
00:15:16
United
00:15:17
States in 1957 Sputnik the first
00:15:20
artificial satellite was launched into
00:15:22
orbit and the Soviets made sure this
00:15:25
satellite had a radio Beacon that would
00:15:28
transmit to the world that it was up
00:15:30
there so there were two scientists at
00:15:32
John Hopkins laboratory they actually
00:15:34
had a hypothesis that if they could use
00:15:36
the radio Beacon and tracked and listen
00:15:38
for the radio Beacon from Sputnik and
00:15:41
used the Doppler effect and with enough
00:15:44
computing power they theorized they
00:15:46
could actually figure out where in the
00:15:48
sky at any given point the Sputnik
00:15:51
satellite was
00:15:53
coincidentally there was just such a
00:15:56
computer invented called the univac 2
00:15:58
and and sure enough they were able to
00:16:00
track the position of Sputnik anywhere
00:16:02
it was moving across the sky from a
00:16:05
fixed location on the ground Frank
00:16:06
McClure who was the deputy director at
00:16:09
the John Hopkins Applied Physics
00:16:11
laboratory had actually known about both
00:16:14
problems he knew that this the United
00:16:16
States Navy was trying to solve this
00:16:18
problem of locating their
00:16:20
subs position on the
00:16:23
planet and he also then read about the
00:16:25
report by these two scientists will
00:16:28
Willam guy and George wbach about how to
00:16:32
detect the location of Sputnik traveling
00:16:34
through the sky and he ask The two
00:16:37
scientists what if you invert what if
00:16:39
you assume the opposite you've already
00:16:42
written and proved that from a known
00:16:44
location on Earth you can track the
00:16:47
position of a satellite tracking through
00:16:49
the sky what if you had a fixed location
00:16:52
in the sky could you find yourself on
00:16:56
Earth so after a few days of re
00:16:59
research William and George proved that
00:17:03
yes if you had a known location in in
00:17:06
orbit you could calculate and determine
00:17:09
where you were on
00:17:11
Earth thus the creation of the
00:17:14
fundamentals that led to the invention
00:17:17
of the GPS device idea
00:17:20
inversion looking at the world from a
00:17:23
different perspective turning things
00:17:25
upside down and suspending all beliefs
00:17:28
led to Innovations and
00:17:31
opportunities that were never
00:17:35
expected there's a famous quote by Henry
00:17:37
Ford that says if I would have listened
00:17:39
to the customer I would have bred a
00:17:41
faster horse well the truth is listening
00:17:44
to customers is one of the most
00:17:46
important things that entrepreneurs do
00:17:48
and it's finding that balance is the key
00:17:50
to
00:17:57
Opportunities listening to customers is
00:17:59
actually one of the best ways to spot
00:18:02
opportunities it's also one of the most
00:18:05
difficult fortunately there's been some
00:18:07
great work written about this by Steve
00:18:08
blank and his customer development
00:18:10
process that many entrepreneurs can use
00:18:13
the key is as you think about talking to
00:18:17
customers and listening to customers is
00:18:19
being able to separate out the process
00:18:21
into a series of steps first by starting
00:18:24
with testing for
00:18:26
problems you see testing for problems is
00:18:29
one of the most critical things that
00:18:31
entrepreneurs can do when they're trying
00:18:33
to come up with an idea despite what we
00:18:35
think customers aren't sitting around
00:18:37
waiting for us to invent Solutions
00:18:39
they're living their lives they're
00:18:41
solving problems they're actually trying
00:18:43
to get things done by going out and
00:18:45
looking for what problems customers have
00:18:48
or what needs they're trying to
00:18:50
address entrepreneurs can quickly
00:18:52
identify unforeseen
00:18:57
opportunities once you've tested a
00:18:59
problem or identified a need that you
00:19:01
feel is right for what you're trying to
00:19:03
solve then it's time to go back and
00:19:06
validate that need and validate Your
00:19:08
solution with the customer you can do
00:19:10
that with a prototype a paper drawing a
00:19:13
mockup a model but it's important to go
00:19:15
back a second time and validate what
00:19:17
you've worked on is really solving the
00:19:20
need of a customer that is how great
00:19:22
entrepreneurs do it by actually testing
00:19:25
the solution with the customer
00:19:27
afterwards by validating
00:19:28
they actually then can confirm that the
00:19:31
solution meets the need and many times
00:19:33
they're wrong and they may find they
00:19:35
have to try several times or pivot until
00:19:37
they have found the right solution but
00:19:40
eventually the opportunity is
00:19:50
revealed so identifying problems testing
00:19:54
your ideas and validating Your solution
00:19:57
with customers is a great iterative
00:19:59
process to help you identify
00:20:02
opportunities and navigate the tricky
00:20:04
Waters of listening to customers it's
00:20:07
not always what the customers say is
00:20:09
what you need to build actually far from
00:20:12
it it's watching what the customer does
00:20:13
and what they do with your prototypes
00:20:15
for example that help you identify
00:20:18
whether there's really a solution and an
00:20:20
opportunity to be
00:20:22
had this is a great car Henry Ford built
00:20:26
the Model T because he saw a need
00:20:28
that people had that everybody wanted to
00:20:31
have a car and that balance of listening
00:20:34
to customers is why he was so
00:20:36
successful so what is value and why does
00:20:39
it
00:20:40
matter value is a key ingredient when
00:20:43
you're looking for opportunities it's
00:20:45
also critical that entrepreneurs have
00:20:47
the ability to identify value in either
00:20:49
the Innovation they're working on or
00:20:51
things they're observing to come up with
00:20:53
new
00:20:54
opportunities value is often difficult
00:20:56
for an entrepreneur because because we
00:20:58
get hung up in the things we're doing
00:21:01
the activities the product we're
00:21:02
building and we lose sight sometimes of
00:21:05
what the real value is value
00:21:07
being as perceived by the customer or
00:21:09
user and what they're giving in return
00:21:12
for the value you're
00:21:14
delivering there's many examples of this
00:21:17
but if you're not able to identify the
00:21:18
value it's very difficult to innovate
00:21:21
take for example a gas station what is
00:21:24
the value of a gas station well many
00:21:26
times when we talk about this concept
00:21:29
people get hung up in focusing on
00:21:31
different aspects of a gas station for
00:21:33
example someone might say a gas station
00:21:35
is about convenience well there may be
00:21:38
some truth to that but it's also
00:21:40
convenient for me that my chair is next
00:21:42
to my table for my
00:21:44
laptop convenience isn't by itself
00:21:47
enough another response to the question
00:21:49
about what is the value of a gas station
00:21:52
might be well a gas station is where I
00:21:54
buy fuel for my
00:21:56
car close
00:21:58
buying fuel is an action fuel is the
00:22:01
product but what is the value if we have
00:22:03
a product there must be value people are
00:22:05
paying money for it when you focus on
00:22:07
this topic for a while usually you come
00:22:10
to realize the value in this scenario is
00:22:12
that fuel provides the value of vehicle
00:22:15
range extension that is the value in
00:22:18
essence of a gas station we go to gas
00:22:20
stations so our cars can go
00:22:23
farther now what's important about this
00:22:26
is if you were to State what a gas
00:22:28
station is and describe it in terms of
00:22:30
what you do or what you buy you have a
00:22:33
very different outcome than if you state
00:22:35
what is a gas station in terms of the
00:22:37
value it
00:22:38
provides a gas station is where I buy
00:22:41
fuel that focuses you down a very
00:22:43
specific path if I were to say a gas
00:22:47
station provides vehicle range extension
00:22:49
well now that frees you up from the
00:22:51
restraints of certain product lines in
00:22:53
this case fossil fuel if a gas station
00:22:56
is all about vehicle range extension
00:22:58
then wouldn't it make sense to add other
00:23:00
products as vehicles are becoming more
00:23:02
electric such as charging stations
00:23:05
because a charging station provides
00:23:07
vehicle range extension for certain
00:23:09
types of
00:23:10
vehicles this is a great way to think
00:23:12
about the world because it also protects
00:23:15
you from becoming obsolete in your
00:23:17
thinking uh and also provides ways for
00:23:19
looking at problems with a different
00:23:21
perspective one more angle to this if we
00:23:23
focus on value of a gas station being
00:23:26
vehicle range extending and then we
00:23:28
bring in a new Target customer of
00:23:30
electric vehicles we can look at that
00:23:32
interaction and innovate on top of that
00:23:35
in this case vehicle range extension by
00:23:38
charging actually has some limitations
00:23:41
it takes a long time typically 2 to 4
00:23:43
hours for most average hybrid or
00:23:45
electric vehicles gas stations today
00:23:47
delivering fuel are very quick so you
00:23:50
could extend the value statement to say
00:23:52
quick efficient vehicle range extension
00:23:56
so how else would we solve this if you
00:23:58
were looking to add value in vehicle
00:23:59
range extension and electric cars
00:24:01
perhaps you would look at where cars are
00:24:03
stationary for long periods of time
00:24:05
where else does that happen parking
00:24:08
stations parking lots if you were to add
00:24:11
vehicle range extension as a value to a
00:24:14
parking lot you could see a whole set of
00:24:17
new products products to offer isolating
00:24:21
value is a critical aspect for
00:24:26
entrepreneurs
00:24:47
we learned a lot about how opportunities
00:24:49
are spotted by
00:24:50
entrepreneurs and although we started
00:24:53
with this concept that many people think
00:24:56
opportunities are presented
00:24:58
entrepreneurs out of the blue and that
00:25:01
people come up with most amazing
00:25:04
ideas in the fraction of a
00:25:07
moment and that only a critical few ever
00:25:10
get to find these amazing
00:25:13
opportunities but as we talked about and
00:25:15
we look at many of the most famous
00:25:17
entrepreneurial stories and we look at
00:25:19
the conditions and the moments that led
00:25:22
up to those discoveries you can actually
00:25:24
start to see patterns patterns and
00:25:26
techniques that anyone can adopt to spot
00:25:30
New Opportunities whether it's Howard
00:25:33
Schultz the CEO of Starbucks and how he
00:25:36
transplanted value from one location to
00:25:39
another after identifying opportunities
00:25:42
or Thomas Edison in his discovery of a
00:25:46
better cheaper faster light bulb when
00:25:48
electric Ark lamps have been in
00:25:50
existence for
00:25:51
years or through idea inversion that can
00:25:55
actually be used to create new ways of
00:25:58
thinking new ways of identifying
00:26:00
Solutions as in the creation of the G uh
00:26:03
GPS device all of these techniques are
00:26:06
available to people to spot
00:26:08
opportunities it just takes looking for
00:26:11
patterns identifying
00:26:13
opportunities and not being afraid to
00:26:16
ask
00:26:26
why how's it going good good we're be
00:26:29
out of your hair here in a few
00:26:33
minutes I just got to do one more one
00:26:35
more take of this
00:26:47
shot
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