Webinar series on “Transforming an idea into a business with Design Thinking”

I was recently invited by OPEN Silicon Valley to host online workshops around Design Thinking for the community. During the COVID-19 quarantine, I thought this would provide a way for many individuals to spend some time learning something useful. Here are the recordings of the Five-part webinar series that I hosted for a global audience.

In the first session, I introduced the concept and benefits of Design Thinking as a human-centered process of innovation. I also introduced the “Transform 3+1” framework for transforming an idea into a business with Design Thinking which is published in his book as well.
Stage 1: Understand problem to grasp Desirability. This session focuses on exploring all the stakeholders relevant for your problem statement. It will introduce you to the tools and techniques in doing the research to understand the context and needs of the user. Some of the techniques include ethnographic user research, empathy map, persona, current journey and user’s perspectives to help build empathy with the user. Empathy helps in seeing the world from the perspective of the user.
Stage 2: Devise solution to Determine Feasibility. This session focuses on how you should go about exploring a solution that solves the problem for the user in an iterative and agile manner. One of the most common mistakes that entrepreneurs do is fix their minds on the original idea they had. They cling to their original idea and overlook many other ways of solving that problem. They also become attached to specific use of technologies and lose sight of the user’s context. This session will help you with brainstorming techniques to explore ideas using a wider angle. You will also learn some prototyping techniques and approaches to get feedback from the user and creating an experience vision. You’ll also be introduced to the power of storytelling.
Stage 3: Craft Business to Know Viability. This session focuses on all the aspects of crafting a business model. It highlights the importance of focusing on the value proposition for the key stakeholder, the user. This will also help you understand whether your business is aspiring to achieve ‘Quality’, ‘Cost’, ‘Efficiency’ or ‘Experience’ advantage over your competition. You will also be introduced to create value proposition. The Value-based business model framework will help you evaluate your business in a the wider context  including technology, business models, industry, macro-economic, demographic and other trends. You will also learn to create an ‘Elevator pitch’ for your business and what are the key components to prepare for delivering an impactful pitch. 
Stage 4: Manage Risk to Handle Uncertainty. This session highlights that there is uncertainty inherent in any new venture as well as describes a practical way to quantify this risk and gives a practical approach to the entrepreneurial team to prioritize and mitigate the most important risk factors. This chapter explains that the basic elements contributing to uncertainty of a venture are the assumptions being taken in all the stages of the venture. The chapter also gives a framework in classifying these assumptions as ‘critical’, ‘major’ or ‘minor’ categories and gives suggestions on how to track these assumptions.   
I also reviewed the entire Transform 3+1 framework in this session.

1 thought on “Webinar series on “Transforming an idea into a business with Design Thinking””

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s