Letters to a Young Manager
3,500 Good Ideas
Please note that this letter is in-process; the following are my notes
Lee's comment that it takes 3,500 good ideas before you get 1 economically feasible one.
It takes a whole lot of creating for a single success
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, E. G. Happ, All Rights Reserved.
He listed the various stages that ideas went through to produce a viable invention and the estimated reductions then calculated it in reverse:
- mulling over various possibilities that might benefit from a new product
- brainstorming for ideas
- select a few for more analysis
- selecting only a few of those for building/exploring more in depth and prototyping
- exploring the financial realities and markets goes in here somewhere
- getting through the patent process was also in here somewhere
- determining those that could be manufactured cost effectively
- marketing and selling the product.
- and then, if you are lucky and skillful, it actually turns into a viable product.
This is from a very long time ago and I have probably missed some steps.
I doubt he was the source of this method but have no idea where it came from." --Lee, 1/8/23 email