MGT 420 Module 3 Study Guide (2024-2025) PDF

Module 3: Conducting Interviews to Gather Insight Dr. Kipp A. Krukowski MGT 420 – New Venture Creation Why is today’s topic important? “In a startup no facts exist inside the building, only opinions.” - Steve Blank, creator of the Lean LaunchPad We must practice to beco...

Module 3: Conducting Interviews to Gather Insight Dr. Kipp A. Krukowski MGT 420 – New Venture Creation Why is today’s topic important? “In a startup no facts exist inside the building, only opinions.” - Steve Blank, creator of the Lean LaunchPad We must practice to become comfortable and skilled at asking the right questions and digging deep to extract the true insight buried within the experiences and thoughts of others. Why are we using an AI Interview Simulator? ？ Boost interviewing confidence, especially strangers You can practice, embracing failure Accelerate learning curve regarding many unknowns with your business idea Speed up validation process Disclaimer with this AI Interview Simulator ! ExEC AI ! trained on a vast dataset derived from expert content across diverse fields However, it might not always reflect absolute truth In fact, when interviewing actual human experts, they may similarly have biases Consider the answers as sources of inspiration and learning and verify their real-world correspondence before it’s too late and too risky for your business. This tool is designed to fuel your curiosity, driving you to explore and question real strangers, and to help you articulate your thoughts and create a mental map about what to ask. Interviewing Experts – AI Simulator Interviewing Experts – AI Simulator Log into ExEC Software (you should have received a link at beginning of semester from CSU bookstore) Go to the Tools & Submissions list in ExEC Click on Interviewing Experts – AI Simulator (Beta) Here is a direct link: https://teachinge.org/exec/l esson/ai-interviewing-experts- simulator/ Step 1: Your Interviewee Think about who can provide insight regarding your business idea Example: Your business idea is a smart dog collar that uses GPS to track a dog’s location as well as exercise and fitness levels The more precise your description is, the more precise the response will be Step 1: Your Interviewee The following template structure can help in describing and defining your interviewee: Now, fill in the fields below describing the expert you would like to interview: Step 1: Your Interviewee You will see that ExEC will find 5 different people to potentially interview. Select one of them. Step 1: What to Ask Ask open-ended questions: – Remember MGT 340 Design Thinking chapter Three main criteria for an idea to be successful – Desirability – Who will want or buy product? – Feasibility – Can it be achieved in near future? – Viability – How sustainable is idea long term? – Get into the details with the expert related to your idea and things you should be considering to make it a reality – Seek to get your riskiest hypotheses answered and more! Ask dumb questions (get them to explain so you understand) Ask any follow-up questions you want (peel the onion) Ask questions and let them talk: Spend 90% of your interview listening and only 10% talking Step 2: Interview Click on the RED microphone button to speak your question. Note: If for some reason your microphone isn’t working or you aren’t in a quiet place, you can type in your question. If you get an Error, reload the page. Note: There is a button on the bottom left that allows you to Clear Chat if you want to start over and clear out your conversation. Step 2: Interview When complete, check the “I finished my interview” box You can click on the “Copy to Clipboard” button if you would like to keep the entire conversation and paste it to Word or Google Docs to use for later. Step 3: Interview Analysis Review the analysis of the questions you asked. After reviewing, answer the question “What do you agree with, or disagree with, in the analysis of the number of questions you asked to gather information and uncover insights about the interviewee?” You can type whatever you would like here. Similarly, it analyzes your follow-up questions. After reviewing, answer the question “What do you agree with, or disagree with, in the analysis of your number of follow- up questions?” Finally, it analyzes your open-ended questions. After reviewing, answer the question “What do you agree with, or disagree with, in the analysis of your number of open- ended questions?” Step 4: Entrepreneurial Skills Briefly answer the 2 questions: “What can you take away from this exercise that will help you feel more comfortable and confident interviewing experts?” “How do you imagine learning how to have conversations like this can help you in pursuit of your career or purpose?” Step 5: Build Your Presentation First, when complete, click on the “Update Your Presentation” button. Next, click on the “Copy Submission URL” under Turning in This Assignment. Go into Canvas and copy the URL into the assignment. Interviewing Customers – AI Simulator Interviewing Customers – AI Simulator Log into ExEC Software (you should have received a link at beginning of semester from CSU bookstore) Go to the Tools & Submissions list in ExEC Click on AI Interviewing Simulator (Beta) Here is a direct link: https://teachinge.org/exec/l esson/ai-interview-simulator/ Step 1: Your Interviewee Fill in the fields below describing the customer you would like to interview: The Additional Steps The additional steps mirror the expert interview in the previous slides Go through those slides for how to use the interview software, understand and respond to the analysis, and build the presentation to receive a URL that you paste into Canvas for the assignment Make sure you go all the way to Step 5 and copy the URL link from there. 3 Key Points The AI software will help you gain comfort interviewing a human stranger. Insight regarding your idea should be obtained prior to your “human” interview allowing you to formulate new and/or better questions. The key to interviewing is asking open-ended questions and peeling the onion to gain further insight. Questions? Dr. Kipp A. Krukowski MGT 420 – New Venture Creation