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Transforming an Idea into a Business With Design Thinking : The Structured Innovation Approach from the
About this item
Many of us have numerous ideas throughout our lives to that we feel can add value to society and from which we can benefit financially. However, we find ourselves perplexed on two levels:
1- Where to start to build an idea into a business?
2- What are the various dimensions and activities needed to launch an idea into a business?
This book will give you a structured approach to launch your idea into a business by following specific steps. This approach is grounded in "Design Thinking" and has been crafted after decades of use in the Silicon Valley helping companies from large enterprises to start-ups with solving problems and launching businesses.
This book describes in a step-by-step manner, an 18-step innovation framework, grounded in Design Thinking, to take an idea from a fuzzy concept to a viable business. This framework is grounded in the belief that all solutions solve human problems and strive to augment human capabilities by introducing a new way of doing things using technology or otherwise. The framework is divided into following three stages:
Understanding the Problem -- to have a clear idea of the desirability by key stakeholder(s).
Devising Solutions -- to determine feasibility of the new approach by going through following steps: Ideation, Prioritization, Storyboard, Prototype, Test, Use Case and Experience Implications.
Crafting a Business -- to get an insight into viability from business perspective.
As you go through each stage, you’ll be making lots of assumptions. These assumptions are the key driver for the risk in the pursuit and must be validated as the team continues to work on the idea. This process leads to the fourth stage:
Managing Risk -- to have an honest idea of the inherent risk in the pursuit by reviewing assumptions and risk assessment.