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Managing Partner at Safra-Tech | Investor | MBA, Disruptive Strategy & Design Thinking | Father of boys x8

Israeli #founders today need to embrace design thinking This means focusing on the consumer who will be using the service or product that you’re developing The process may have been initially built without thorough consideration, but design thinking allows us to revisit and analyze what exactly is needed in the most efficient way As an example, processes may have been accepted as they are, until someone comes along and suggests a better way... and when that person steps in and proposes a fresh perspective, that's when #innovation happens At its core, design thinking is about understanding what is truly necessary in a process or action, and determining if it can be done differently, and is the ability to understand what the consumer really needs in any given situation or process, whether it's buying groceries, transportation, communication, etc. There are various methods and stages in design thinking. However, I use the Harvard Business School method, which has four stages, the first one being clarification The goal of clarification is to understand and identify the main pain point in the situation. This stage is about filtering out the noise and focusing on the situation at hand, to glean insights that may have been overlooked or undervalued before Often, this pain point is latent, something the consumer experiences but doesn't recognize as the main issue. The methods used at this stage involve observing the situation, being present in the space, and trying to understand what is missing and how the process can be improved The key is to gain a different perspective or insight that others haven't yet identified. If you can solve a problem that everyone is experiencing, then you potentially have a good business idea…. A prime example of the importance of being customer or human-centered, which is at the core of design thinking, is Google's failed Google Glasses project. Google invested about a billion dollars to develop this unique device, but after years of development and attempts to market it, they had to shut it down Why? Because no one was buying it! The product didn't solve a problem for anyone… it was a "nice to have" but not a "must-have" In design thinking, we're looking for solutions to real problems There are three must-have attributes in design thinking to determine if a product is worth investing in: Desirability Feasibility And viability If a product lacks any of these characteristics, it's not a go. These three characteristics are crucial in testing if a product is worth developing and investing time and resources into. Without them, there will be a flaw or failure in the process, and it simply won't work If you’re a founder, how are you currently incorporating design thinking into your startup strategy? I'd love to hear about your experiences in the Comments section below! #startupnation #venturecapital #designthinking

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