Venture design is agile approach to human-centric design, optimized for
Succeeding with transient advantage
In the past, it was quite obvious to follow and see what your competitors are up to. Earlier Inc. Magazine told us that well over half of the executives from across all industries say that their main competitor in five years will be a different company than it is today. This is a change in how business pursues their opportunities. Holy grail of business was about sustainable advantage. The lifecycle of a product in an exploit phase (after launch & ramp up) could have been years or even decades. Unfortunately, this doesn’t happen nowadays and business is driving transient advantage thru venture design that helps you know where to focus.
Aligning innovation to growth strategy
Usually, in business, we have two playing fields that we want to succeed. From the business core e.g. refresh the current product line or improving margins on best sellers. Build from the core for near term performance – playing not to lose. We have stability at stake and we are limiting failure. Human-centered design is usually a key word here but what about the future of us? New ventures are needed that are build beyond the core for future performance – playing to win. As we enter new audiences where we have no presence we are on the offense. Our success hinges on breakthrough innovation and this is the are venture design comes useful. To start with your planning I recommend an Ansoff Matrix tool that provides a framework for devise strategies for future growth.
Principles of venture design
As now you should have a clearer picture are you playing to lose or playing to win. Should you go after more human-centered design or venture design. If your research shows that you are in the area of playing to win a couple of key success factors should be taken into consideration for guide and optimize.
1. Independence – Grant and defend
2. Collaboration – Drive continuous engagement
3. Speed – Prioritize progress over process
4. Focus – Desing the impact, not the product
What business needs now is design. What design needs now is making it about business – BETH COMSTOCK, VICE CHAIR, GE
Venture Design approach
As there are many custom approach to venture design and they may vary and depend on the situation of the business you should not look this as the only one. I still want to share it with you to get started and please be in touch with our team (or myself) to succeed in venture design. Have fun!