The future is promised to none, but every business has the chance to make the most of the present. In realising that there will never be enough tomorrow, it becomes clear that we must focus on generating value today.
How do we do this? We start by prioritising and focusing on the things that matter most to our customers. This requires us to adopt a deliberate approach, act with urgency and use our resources wisely. It also demands creativity in the ways that we work with others, to ensure that we can maximise the value we’re capable of producing today.
One of the smartest ways that businesses can focus on generating value, is through the application of strategic design thinking, to guide and accelerate the processes of determining what is important to people, and how best to give it to them.
Defining value with a purpose
In Strategic Design thinking, value is defined as the positive impact that a solution brings to its users, stakeholders, and organisation. Value is created when a product or solution is devised that meets the needs and expectations of its users.
For this, we need to understand our target audience and harness this appreciation to produce solutions aligned with these factors. Value is created when we offer something new or different. Whether this is a new product or a new way of addressing a problem, creating value involves looking beyond the obvious solutions to explore alternative ideas.
Value also comes from optimising processes or products to be more efficient, effective, and cost-effective. This requires us to design solutions that can be delivered with minimal waste or resources, while still achieving the desired outcome.
Fundamentally, value comes with offering a solution that is better than the competition. The value of a solution is enhanced by sustainability, which ensures that the solution can last and that its long-term impact on the environment, society, and the organisation itself has been carefully considered.
By focusing on these factors, businesses can design solutions that are more meaningful, effective, and valuable to their target audience.
IKEA, a Swedish furniture retailer, has applied Strategic Design thinking to identify customer pain points and improve their shopping experience. By considering the customer perspective and business goals, IKEA has developed innovative solutions, such as augmented reality applications, to help customers visualise products in their homes, reducing the time and effort required in the decision-making process.
Generating value starts today
Strategic design thinking provides a practical benchmark for assessing and identifying the value we should pursue by taking a user-centred and business-focused approach by considering the user perspective and business goals throughout the process.
Accepting that tomorrow is not guaranteed leads to the realisation that there is no security, only opportunity. This can be both scary and liberating. With no time to waste, prioritisation is essential in achieving value as quickly as possible.
Strategic design thinking can help us identify what is truly valuable to our target audience, and to focus our effort on making it happen. Taking immediate action means avoiding procrastination, which is the thief of time and ultimately value. Achieving value as quickly as possible also means getting going as quickly as possible. If we’re waiting to achieve perfection, we’re never going to get anywhere.
Airbnb, an online marketplace for lodging, utilised strategic design thinking to identify the needs of their users and optimise their platform. They prioritised high-quality photographs of listed properties and redesigned the user interface to make the booking process more efficient and user-friendly, resulting in a significant increase in bookings and user satisfaction
Old ways won’t open new doors
We can’t expect different results if we keep doing the same things. As such, we need to step out of our comfort zones to achieve growth. A collaborative workshopping process directed by Strategic Design principles helps us to identify and understand the needs and motivations of customers, stakeholders, and end-users.
Such an approach emphasises empathy and understanding for the people who will be impacted by a product or service.
Once we have defined the problem we want to solve, we can start to identify possible solutions within the workshopping space, collaboratively. We can then evaluate solutions based on their desirability, viability, impact and feasibility.
This involves asking important questions like: How much value will this solution bring? How easy or difficult will it be to implement this solution? What resources will be required?
Value with immediate impact
Strategic design is useful because it gives us the tools we need to conduct an effective impact versus effort assessment to correctly prioritise. This method involves comparing the potential benefits of each option against the effort required to implement it. In such an assessment, each option is evaluated against two criteria.
The first criterion – impact – looks at the potential benefits or positive outcomes that the option can bring, such as increased revenue, improved customer experience, enhanced performance, or reduced costs. The second criterion – effort – considers the amount of work, resources, and time required to implement the option.
The goal is to identify the options with the highest potential impact and the lowest required effort, which helps to prioritise our resources and focus on the most impactful and feasible options. Next, we test and iterate, starting with the highest priority solution and testing it in a small, controlled environment.
Taking feedback from users and stakeholders, we rapidly make improvements and refine the solution. Thereafter, we move to the next highest priority solution and repeat the process.
The tools to inspire value
Generating value as quickly as possible also requires us to be creative in the ways we work with others, and to use our resources (time, effort, budget and talent) wisely. Technology can help. By augmenting our capabilities, making our lives easier, and providing new opportunities for creativity, exploration, and connection, Artificial Intelligence (AI) can help us generate value faster today.
AI can help businesses to provide greater levels of personalisation, making customers’ experiences more relevant and meaningful. For example, AI-powered recommendation systems suggest products, services, or content tailored to our interests and preferences, which allows us to discover new things and engage with the world more humanly.
AI can be used to augment our capabilities, which enhances our value by making us immediately more productive and efficient. With AI-powered tools, we can automate routine tasks and free up time for more creative and fulfilling pursuits. Furthermore, AI can help us better tap into our humanity. It can be used to inspire creativity and exploration that sparks new ideas and insights.
Seizing the day starts today
Yesterday is gone. Tomorrow has not yet come. When we accept that we have only today, we can put all inconsequential limiting factors aside. We gain the bravery to start where we are, with what we have. We gain the courage to ask, “What would we do if we weren’t afraid?” and the determination to pursue that, starting today.
Tyrann Burger is managing director of BIGBrave, a strategic design and development company.
