The Dingman Process is a dynamic
virtual cycle, with the potential for
continual adaptation and evolution.
Ideation (Trend Analysis).
Ideation isn't simply coming up with
a good idea. It involves a critical
analysis of trends, audience, and
impact areas to develop a pool of
sound business opportunities. It
includes an assessment of risk, an
examination of market niches, and a
SWOT analysis that fleshes out an
unformed idea into a well-reasoned
business plan. Ideas may be brought
to
Pitch Dingman for immediate
feedback.
Assessment. With the
findings of the trend analysis in
hand, along with the recommendations
of the Dingman Center's team of
resident entrepreneurial experts, a “Go/No Go”
decision is made with regard to the
business idea's merits and
probability of success. The
objective of the Dingman Assessment
is to transition a business idea to
a well-analyzed business concept,
which may then be pitched to the
Dingman Center during a second
session of Pitch Dingman.
Implementation. Once a
business idea has passed through the
assessment stage and is determined
to be fundamentally sound, it is
then positioned to become an
actionable business. In the
implementation phase, a prototype or
first iteration of the proposed
product or service is launched. This
small-scale implementation provides
important market feedback in lieu of
more copious market research.
Iteration. Findings from
the implementation phase will help
the student determine what
modifications need to be made that
will guide future iterations of the
business concept. Such findings may
deal with issues such as ease of
implementation, customer
accessibility, and successful
integration of stakeholder goals.
