We are living in fascinating times, when the power of technology is not just reshaping, but is transforming the globe in unprecedented ways. These include the ability to connect with anyone across the globe in an instant using a tiny device in the palm of our hands to the availability of self-learning systems to take over, not only the most mundane of tasks, but the most sophisticated tasks previously thought to be performable only by superior human faculties.
Regardless of whether you consider this progress to be beneficial to society or harmful, these technological advancements are here to stay. On one hand, these current transformational technological advancements threaten this stability of society. On the other hand, they present an opportunity for all of us to awaken our inner entrepreneurs.
This book makes the transition from an employee to an entrepreneur smooth for the masses. Many of us have ideas to improve this world in some way and even feel strongly about some of those ideas at a deeper level. However, we find ourselves perplexed on two levels:
- Where to start when building an idea into a business?
- What are the various dimensions and activities needed to launch an idea into a business?
This book will introduce you to a structured framework, called Transform3+1, to transform your idea into a business by following simple and specific steps spread across four stages. The framework is grounded in the belief that all solutions solve human problems using technology or otherwise. The first stage will help you understand the problem facing your target user by building empathy. Once you understand the problem, comes the stage of devising a solution in an iterative manner through prototyping the new concept and validating with the user. Most start-ups fail not because they didn’t find the right problem to solve for the target user or that their solution lacked technological prowess but because they could not figure out a sustainable business model. Third stage will focus on crafting a business model. And the final stage introduces you to a unique approach of managing risk associated with your venture.
This unique framework leverages the principles of Design Thinking, agile development, and lean start-up combined in an easy to follow manner by anyone and helps transform ideas into business in a short timeframe with little or no investment.
Transforming an Idea Into a Business with Design Thinking: The Structured Approach from Silicon Valley for Entrepreneurs and Leaders | Muhammad Mashhood Alam (Author)| Productivity Press
Table of Contents
Chapter 1. Democratizing Entrepreneurship
“Why Another Book on Entrepreneurship?”, A Mind-set for Growth, Basic Essence of This Innovation Approach, A Primer on Design Thinking, Traditional Approach, The New Design Thinking Approach, Empathy, Have a Better Understanding of the Problem before Thinking of the Solution, Collaboration with Diverse Perspectives, Build Prototype, Get Feedback from Target User, Iterate, Mind-sets for Design Thinking, Creative Leadership, Best Way to Get the Best out of This Approach, Build a Team, Review the Framework with the Team, Collaborative Engagement, Capture Assumptions, Guidance.
Chapter 2 The Three Stages Plus One
Let Your Curiosity Drive Your Endeavor, Questions for the First Stage, Questions for the Second Stage, Questions for the Third Stage, Questions for the Fourth Stage, Failing Early, and Failing Fast, The Problem Statement, Template, Example, Guidance, Session Lead, Three-minute Self-brainstorm, Team Brainstorm, Document Assumptions, Overview of the Transform3+1 Framework.
Chapter 3 Stage 1: Understand Problem to Grasp Desirability
Step 1: Stakeholders, Target Stakeholders, Connected Stakeholders, Influenced Stakeholders, Stakeholder Template (Figure 3.1), Guidance, Session Lead, Three-minute Self-brainstorm, Team Brainstorm, Document Assumptions, Review Prior Steps. Step 2: Research, Planning, Empathetic Observation, Genuine Curiosity, Being Inquisitive Is Good, Without Being “Intrusive!”, Adopt a Beginner’s Mind-set, Don’t Judge, Question Everything, Be Genuinely Curious, Find Patterns, Listen, Intently, Suggestions for User Engagement, Engagement Guidelines with the User, Guidelines for Interviewer, Guidelines for Note Taker, Sample Questions for Interview, Template, Example (Figure 3.4), Guidance, Team Brainstorm, Document Assumptions. Step 3: Persona, Template, Example, Guidance, Document Assumptions, Review Prior Steps, Step 4: Current Journey, Current Journey Template, Current Journey Example (Figure 3.8), Guidance, Document Assumptions, Review Prior Steps. Step 5: User’s Perspective, Template, Example (Table 3.2), Guidance, Document Assumptions, Review Prior Steps.
Chapter 4. Stage 2: Devise Solution to Determine Feasibility
Step 6: Ideation, Guidance, Session Lead, Document Assumptions, Review Prior Steps. Step 7: Prioritization, Template, Example, Guidance, Document Assumptions, Review Prior Steps. Step 8: End-to-end Experience Vision, Template (Figure 4.4a), Example (Figure 4.4b), Guidance, Document Assumptions, Review Prior Steps. Steps 9 and 10: Prototype and Test, Prototyping, Testing, Do’s and Don’ts for Session Lead, Do’s, Don’ts, Do’s and Don’ts for Note Taker, Do’s, Don’ts, User Feedback Template (Figure 4.6a), Example, Guidance, Document Assumptions, Review Prior Steps. Step 11: Use Case, Template (Figure 4.7), Example (Figure 4.8), Guidance, Document Assumptions, Review Prior Steps. Step 12: Experience Implications, Template (Figure 4.9), Example, Guidance, Document Assumptions, Review Prior Steps.
Chapter 5. Stage 3: Craft Business to Know Viability
Step 13: Business Context, Business Context Template, Example (Figure 5.1b), Guidance, Document Assumptions, Review Prior Steps. Step 14: Value Proposition, Template (Figure 5.4a), Example, Guidance, Document Assumptions, Review Prior Steps. Step 15: Business Model, Value Proposition, Value Delivery, Value Creation, Value Partnering, Value Capture, Value Funding, Template (Figure 5.7), Guidance, Document Assumptions, Review Prior Steps, Bringing It All Together. Step 16: Elevator Pitch, Template, Short Version, Longer Version, Example, Guidance, Document Assumptions, .Review Prior Steps
Chapter 6. Stage 4: Manage Risk to Handle Uncertainty
Step 17: Assumptions, Impact, Template (Figure 6.3). Step 18: Risk Assessment, Calculation.
Chapter 7. Go Ahead and Transform Your Idea
About the Author
Index
LINK FOR THE BOOK
