Starting a business is a chaotic process. Often times you get distracted pulling you in different directions away from the focus - building a business that creates value based on what is valuable to your users. This is the process where you are simultaneously seeking to answer questions in which your business is the answer. Before you seek answers, you need to ask the right questions.
Through Business Innovation Design, we perceive the challenge of starting a design-driven business through 24 lenses. Here are the questions to consider when bringing your idea to the market - from understanding the market to developing and commercializing your idea.
1. Value Offerings
What is the value proposition?
2. Target Customers
Who are the users and paying customers?
What problems are you solving?
What is your vision of the future?
What industry trends will impact your business?
6. Scenario Planning
What are the possible usage scenarios of the idea?
How does your idea work?
What features need to be prioritized?
9. Customer Insights
What questions need to be asked to identify insights?
What experiments can be conducted to validate assumptions and hypothesis of your idea?
11. Business Activities
What are the key activities to create, deliver, and maintain value?
Who should you forge partnerships with to co-create values?
What are the required resources to implement idea into operations?
14. Cost Structure
What are the costs incurred to implement idea into operations?
15. Revenue Model
How is revenue generated from the idea?
16. Pricing Strategy: What is the pricing structure of the idea based on the revenue model?
17. Financial Plan
How much funds are required to develop your idea and scale the business?
18. Marketing Plan
How will you reach out to target customers?
19. Sales Plan
What is our sales process to close leads?
20. Brand Strategy
How are you building relationships with customers?
21. Product/Service Strategy
What new products and services need to be launched in the future?
22. Growth Strategy
What must be true about our strategy for it to be a good choice?
What metrics are used to measure progress?
24. Operations Plan
What actions need to be taken immediately?
What milestones need to be achieved within the roadmap?
Answering these questions will help you gain clarity how to capture what is valuable, create and deliver value to your customers. Pair this activity with the BID Canvas to see the holistic picture of your business and how one aspect of the business affects the other.