Every organization needs to solve problems to successfully attain its business objectives. Some of these problems are known and some are unknown, so with the help of the right professionals who are qualified and have the required expertise in solving these problems, organizations can formulate the desired solution. Most organizations follow this problem-focused approach. Design Thinking is a solution or outcome-focused approach, where design thinking professionals find the right problem to solve. It is an important entrepreneurial skill to have especially for small businesses and start-ups.
Design Thinking Mindset
Design thinking has had its fair share of appreciation and criticism. Those who appreciate design thinking, and its methodology are aware of its role in finding innovative solutions to complex or wicked problems that organizations must face to survive. The criticism is mainly due to an inability to understand the significance of design thinking in the modern organizational structure. In this technology-driven era, digital transformation and finding creative ideas to solve problems have become essential. The design thinking mindset endorses combining the latest technology with innovative thinking to transform modern business processes.
With the end-users at the forefront, the design thinking methodology champions the needs and requirements of the customers of the organization. Small businesses and start-ups are competing against established and historically well-known organizations and corporates. They can utilize the design thinking approach to understand their target audience and custom-make products and services for them. This way small businesses, as well as start-ups, can give tough competition to the multi-million-dollar business enterprises that spend thousands of dollars in design and product development every year.
Design Thinking for Entrepreneurs
The design thinking mindset is an important skill set for entrepreneurs to possess. Empathizing with the end-users and gaining insights into their requirements is the prime objective of the design thinking methodology. These insights can be utilized to match the objectives of the organization and create products that will satisfy the customers as well. Entrepreneurs and design thinking professionals can follow the non-linear design thinking process of empathizing, defining, ideating, prototyping, and testing to create innovative solutions to solve the wicked problems of their organization.
Design teams and product or software development teams can use the five stages of the design thinking process to formulate ideas, create prototypes of the real product or software, and test them to develop the final product. All these can be done within a stipulated time and an estimated budget that will not affect the organization or its other operations. And result in the creation of products and services which will put the organization on the map among the innovators of the world. This is especially true for small businesses and start-ups which usually have a limited budget, to begin with, and are dependent on the revenue of their products or services.
Thus, we can conclude that design thinking is good for start-ups and small businesses. Having a thorough knowledge of the design thinking methodology will be a highly beneficial entrepreneurial skill for those who want to compete with established business enterprises and create products that will effectively fulfil customer requirements.