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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.
The Wharton School
University of Pennsylvania