Problem Solving to Find Entrepreneurial Solutions
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Explore Design Thinking
Part 1 - Absorb
Design Thinking - What is it?
It is a process to creatively solve problems by focusing on understanding and analyzing the problem first. Through a business perspective, this could be seen as developing a solution with the "customer" in mind. Through a science lens, this could be seen as analyzing all the facts and observations first, then crafting a solution.
We will use the Design Thinking process in our Better World Project.
Modified Design Thinking Process:
Fully understand the problem, emphasize with the person experiencing the problem
Explore many solutions
Iterative process of trying and testing solution
Get to a final solution and launch, refine as you go!
Design-thinking-101-NNG.pdfPart 2 - Absorb
Key Takeaway
Understand the process of design thinking and the steps involved to fully understand a problem before coming up with a solution.
Part 3 - Absorb
Unique Value Proposition
Ultimately, every venture is seeking to provide value by offering a solution to a problem or meeting a need.
How you talk about that value is called your Unique Value Proposition.
Read Unique Value Proposition by Peep Laja and review the examples carefully.
You will craft a statement to help you not only identify your business's value, but it will eventually help you with marketing. We will use the following as best we can during our projects:
First, describe the problem or the need a customer experiences - explain simply
Second, describe your solution - explain simply
Third, what is the benefit to the customer?
Example: Quoted Her
Problem: the current greeting card market lacks a variety of inspirational messages from women in history, the arts, and culture; additionally, the market lacks a card that can also serve as a gift.
Solution: A 5 x 5 magnet with beautiful images and strong inspiration quotes from historical women
Benefit: quality greeting card with gift rolled into one, convenience
Example: MoooWing Cafe
Problem: people in Andover lack an option for a clean, hip, fast casual setting that offers breakfast, lunch and dinner with entertainment options
Solution: a Western-themed, fast casual food restaurant with occasional entertainment
Benefit: quick food option
More Examples:
21 Value Proposition Examples that Every Marketer Can Learn From in 2021, by Ramona Sukhraj,
Key Takeaway
The value proposition is a statement that helps explain:
- The problem trying to solve or need trying to meet
- The solution
- The benefit to the customer