Applying design thinking for startups

Posted on: 05-03-2019 | Category: Entrepreneurship

"Finding real issues and problems by an iterative and expansive process; considering wide range of solutions and then finally converge upon one solution" - Design Thinking

HCD and DDDC

  1. It takes almost same amount of hard work, investment of resources and time in setting up a bad business and a good business, where bad and good are financial and economic parameters.
  2. Added features in products or complications in business model must lead to higher margins and profits, otherwise these must be avoided at all cost. Unnecessary complications in products, services or business models which do not lead to higher profit must be avoided.
  3. An entrepreneur must always think about creating superior differentiation in offerings leading to higher profits. This is a creative process which must be undertaken by an entrepreneur. Differentiation can be of any kind which leads to higher customer satisfaction. Gradual improvements is the easiest path in this direction.
  4. Time, resources and energy must be invested in elaborate contemplation and research about all aspects of a new project, product or business action before its implementation. To a reader it may sound obvious but in reality, among all the uncertainities in which a startup work, execution of a poorly planned project is a common phenomenon.
  5. Push marketing is for hustlers. Long term value is created using pull marketing. Customers should want to buy our products and services. Pull marketing gives a company the power of pricing, independent of competitors.