95% of innovation efforts fail. That is a grim statistic. It is true; many fail because they launch products or services that people do not find desirable. However, a significant number also fail because they are not viable or feasible. They can’t make a profit, or they realize they were not a credible or capable source of this innovation. These are typical topics of Business Design. In EGGS, we have set two goals with our approach of Business Design; ensuring targeted business effects from design work and contributing with creativity to business development.
Why business design to innovate?
Handeling fast change, and combating short-termism
Your business operates in a world of exponential change. If you resemble most of our clients, you have realized that this change has resulted in,if not chaos, then ambiguity. It has become tough to plan. Tough to create strategies. To regain control, you may have resolved to shorten the planning horizon and tightening the budget (let’s sprint people!). You may already have realized that a side effect to this tactic is “short-termism”, a reduced focus on building a robust and lasting competitive advantage.
Merging tools of design with business acumen
You can regain overview, clarify strategic alternatives and ensure long term robustness if you include design methods in your business tool box. We experience that executive teams more often include designers in their strategy and innovation processes. The Business Design discipline has emerged as a necessary facilitator for this. By mixing the mindset and tools of design with business acumen, a business designer can be your advocate in the creative process whether the outcome is finding or implementing new value.
Business design in creative teams
Business Design is a natural component for any creative team, ensuring the alignment of the design work to the strategy and goals of your business. Contributions to classic phases in design and development can be;
Framing –Understanding your desired business outcomes and current capabilities
Insight -Expanding research beyond users and into ecosystems & value transactions
Ideation -Challenging business concepts and aligning ideation to business outcomes
Design -Complementing value proposals with how to create, deliver & capture value
Validation -Scientific testing of assumptions to build confidence in the design concept
Implementation -Following up to ensure you reach the desired outcomes -Design ROI
Getting creative about business problems
Here are some of the project types where we have found Business Design to be particularly valuable;
Venture Design -Creating a new venture from a business idea
Exploring new growth -Identifying, investigating and conceptualizing profitable growth
Platform Design -Exploring and building platform business models
Designing Strategy -Facilitating & contributing to the forming & execution of strategy
Organizational Design -Helping design the organization needed to deliver new value
EGGS Design is part of the frontier in discovering, designing and delivering on this new role for design and designers.