Design Thinking + Business Model Innovation

Learn how to apply design thinking to business model design using a process outlined by design firm IDEO. The process includes discovery, interpretation, ideation, experimentation and evolution. The key is to start with gathering data, particularly from customers, competitors and industry logic, and then to make sense of this data to identify opportunities for innovative business model designs. Use brainstorming techniques and templates like the business model canvas to develop and evaluate ideas, experiment with a single idea, and reflect on the outcomes to fine-tune or re-design the business model. Keep reflecting and iterating until you are confident enough to scale or spread your business model.