FINDING YOUR WAY FROM IDEA TO (SUCCESSFUL) PRODUCTS
Lack of ideas is rarely a problem. The real challenge lies in identifying and developing the products that actually end up creating value for you and your customers.
DESIGN THINKING IS THE SOLUTION
Design Thinking centres on turning an idea into a viable product – one that can be built within the framework of customer needs, technology and business – as fast as possible.
The essence of Design Thinking lies in creating and testing various solutions to a given challenge, until we identify the product that works. Or get enough knowledge to conclude that a solution won’t be found.
IDENTIFY THE PROBLEM
The product has to solve a tangible problem. It must respond to actual customer needs. Period. In our industry, we refer to this as Product/Market Fit.
Alex Osterwalder’s Business Model Canvas and Value Proposition Design are essential tools to us, as we systematically try to uncover the customers’ pains, gains and Jobs-to-be-Done. Sometimes this requires more knowledge about the customers than what we already have. Then we set out to get it.
SO HOW MIGHT WE....
This is where we start. Eyes fixed on the identified problem.
Our entry-point is always the same: We know nothing. Experience doesn’t really count, because the world is changing too fast. We have to know the business and the challenges, to come up with possible solutions. We have to construct hypotheses, and then test whether they are true. Speed is decisive.
MAKE IT TANGIBLE – FAST!
Innovation requires speed. Instead of persuasive PowerPoints in the conference room, we believe in fast-developed prototypes – or Minimum Viable Products – that will enable us, in collaboration with the corporation we’re helping, to find solutions for a successful product.
Hence, we build quick mock-ups. Some call it pretotyping. We call it Tangible Business: Build quick mock-ups and get out of the building to see if it works.
LEAN STARTUP AND MINIMUM VIABLE PRODUCTS - MVP
We are deeply inspired by the way start-ups work. With no money available before the product becomes a success, the approach is all about developing and adjusting as fast as possible, until you get your product right. It’s about testing for market fit. Start-ups do it constantly by producing solutions in their minimum viable form – just having enough to test whether it will be a success or a failure.
SUCCESS. IT FAILED
Sometimes the product fails. This means, however, that you avoided a resounding failure, before it got really expensive.
GOOGLE VENTURES 5-DAY SPRINT
So how do you get started making Design Thinking and product innovation part of your corporation?
We have great experience with intense processes, based on the Google Ventures 5-day Design Sprint. The goal is to develop and test a product within five days. Besides getting a new product, the corporation learns how to use the GV5-method.
See how we work with GV5 (in Danish)