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In ever evolving and competitive markets, it is important that a company be able to distinguish itself from the competition.  Pricing is important, but even more important is quality of products and services.

 

Design Thinking is a process driven methodology that  helps companies develop a competitive edge through a team effort, following a series of well laid out steps.  Though there are many different models to choose from, The Proteros Group, typically works with either the Stanford or the MIT models.  The Stanford model uses the following five steps:

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1.       Empathize – get to know the customer, see how the problem you are trying to solve, affects both their professional and personal lives; walk in their shoes and empathize with them.

 

2.       Define - After you can truly empathize with the client, you will be able to properly define what the real issues are, from the customer’s perspective…you have already gained an advantage.

 

3.       Ideate – Now that you have defined the real problem, from the customer’s perspective, it is time to brainstorm.  This step requires that all judgment of ideas be put aside until a later step.  Here we want free flow, creative thinking.  Everyone on the team is encouraged to contribute their solution ideas; the more creative the better.

 

4.       Prototype – At this stage, the team will select the top 3 or 4 ideas and quickly prototype them.  If it is a service, they will map out the service and its proposed outcomes, if it’s a product they will create a mock up.  It can be as simple as a drawing on a napkin, or as complex as a 3D printing.  The goal is to get it done FAST.  You are not looking for perfection at this time, just a means of getting a concept across to the customer.

 

5.       Testing – now that you have some prototypes, it is time to test them against market realities.  This is done by going back to the customer or market insiders and asking what they think of it.  Have a discussion with them about your prototype and what the aims and goals of it are.  Take their feedback back to the team and revise the prototype to incorporate the new market realities.  Do this fast and often until you finally have a something that truly matches market expectations and needs.  Now launch it.

 

If Design Thinking is done correctly, you will have created true market champions during the process, and both risk of market rejection and time to revenue will be reduced.

 

This same concept can be used by companies to reassess their internal culture and way of thinking so that they can reduce the “silo” affect and be more unified in their market approach and revenue modeling.