I had assumed, until the exercises in the Design thinking module that start-ups just followed a design thinking approach to innovation.
Design thinking’s emphasis on ‘re-framing’, an idea interpreted as ‘How might we?’ by Tim Brown is a practical process with its foundations in Design practice. I have been surprised how it received as spectacular new strategy for innovation in the business world.
What surprised me more is that coupled with the lean start-up method, design thinking really starts to function. Business has seen the value that this combined approach can give them in innovative thinking, providing a quicker more agile, cost efficient way to do business.
In the past start-ups would be required to create business plans before even considering the viability. With a 75% record of failure, the lean start- up methodology is proving successful with entrepreneurs. Encouraging heavy design and test at the start ensures customers are getting what they want, enabling the entrepreneur to ‘pivot’ the idea if they find the product nonviable.
While still in its early stage where the definition is still not fully embedded but the Lean model of business is set to be a term ready for exploiting.