Page 38 - Transforming an Idea Into a Business with Design Thinking

T he Three Stages Plus One ◾ 17

3. What are the short- and long-term business model trends which would
help or hinder adoption of your idea?

4. What are the short- and long-term macroeconomic trends which would
help or hinder adoption of your idea?

5. What are the short- and long-term demographic trends which would
help or hinder adoption of your idea?

6. Who are the current and future competitors for your business?
Competitors include other players as well as the current way to doing
the job.

7. How will the user (and market) know about your business?
8. How will you deliver value to your customers?
9. What kind of relationship will you need to have with your users?
10. What resources (skills and assets) do you need to build your solution?
11. What processes (activities and capabilities) do you need to do to create

the value for your user?
12. Which technologies would you need to use to create your solution?
13. Which partners would you need to rely upon in any aspect of value

creation and delivery for your business?
14. How will you capture the value generated from your venture?
15. What will be your pricing strategy?
16. How will you get paid?
17. When will you get paid for the value delivery?
18. How will you fund the venture?

2.1.4 Questions for the Fourth Stage

The two key questions here are:

1. Throughout each step in all the stages in this framework, what are you
assuming to hold true to make your idea work?

2. How could you test and validate your assumptions?

2.2 Failing Early, and Failing Fast

One of the main concepts underpinning this book is for you to recognize
that having an emotional attachment to your idea might lead to a myopic
view of the world. That way of looking at the world is highlighted by the
age-old maxim, “To the one with a hammer in hand, every problem looks