When generating ideas for a new venture, you may take one of the following two strategies:
Start with the problem to be addressed and brainstorm potential solutions. Generate a new approach to an old problem. Or you could start with the solution or technology to be used and brainstorm potential applications. In other words, take an old approach to a new problem.
Make relatively small investments in sequential entrepreneurial “experiments,” creating the opportunity (but not obligation) to commercialize or proceed with the result.
David Hsu Management Professor The Wharton School University of Pennsylvania Philadelphia