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Once entrepreneurs understand what innovation is in a holistic sense, they can use what they have learnt to improve and enhance their business ideas. Innovation can mean a single major breakthrough – e.g. a totally new product or service. However, it can also be a series of small, incremental changes to a business model or idea:  be more productive, have reduced costs, be more competitive, build greater brand value, establish new partnerships and relationships, increase turnover and improve profitability.

Practitioner Learning points:

• Useful exercises and steps, leveraging subject matter experts and other entrepreneurs, that will help a young entrepreneur generate better business ideas
• Tools and methods that a young entrepreneur can use to home in on their most promising idea
• Enabling a young entrepreneur to define their value proposition and to understand innovation options regarding their revenue models
• Helping a young entrepreneur understand if their business idea is viable and key strategic considerations that they need to be aware of

Applications:

• Flexible approach to application. The content can be applied readily for group delivery, and it can also be used 1:1 with young entrepreneurs, including through mentoring.

Ease to use

Medium. The content uses clear to understand examples.

Facilitator: Dejan Markovic, Head of Innovation, Youth Business International