How much an idea is worth??
Published by the 26 of November of 2019 en Business environment, Entrepreneurship
Recently we have been listening about “Design Thinking” and its impacts for idea generation that can be worth a billion dollars or even more…But, how does this methodology works to generate that one billion dollars idea? As my lovely dad used to say some time ago “that´s the question”. The steps: EMPATHY: why the final user would buy my product or service now and in the future (future creation) within a customer definition to capture the emotions behind; OBSERVATION: go into the customer ADN; DEFINITION: know clearly what are we working on; IDEA GENERATION: brainstorming with co-participation to generate as many ideas as possible until we get that one billion dollar idea to go into the high value market; PROTOTYPE: build a prototype considering mistakes on a low cost basis until the prototype is ready to be tested by the final customer; EVALUATION: get all information and reactions from the final users to make it better any time or to find mistakes and find the proper solution. This is the moment when the real need is found.
Then we have to find out: who is interested in my product or service? Who is going to use it? Who really needs it? does it have value? does it worth a billion dollars? To whom? Why? How?
We see the quality of the idea among a lot of ideas breaking paradigms and changing NO by YES…
In 1996 we have already gone through all those phases, although under empiric basis: we design the prepaid letter of credit for BANAMEX SA. This financial product was born due to a huge need from the mexican crisis in 1995. To design, develop and implement this financial product we went through: EMPATY: we understood both the importer´s needs to continue their companies operation and BANAMEX service to solve customers needs; OBSERVATION: we went into the customer and BANAMEX ADN; DEFINITION: we were quite clear that we had to design a financial loan product without a loan rules but within the financial system rules (we went out of the box); IDEA GENERATION: we thought on all possible content to cover customer needs and banks requirements; PROTOTYPE: We design a full document; EVALUATION: we tested it on the market with the final customer and the bank operation and we made final adjustments. This PRE PAID LETTER OF CREDIT went from an internal financial instrument for BANAMEX SA to a global financial instrument in 2019.
Gnosis XXI team understand the whole process working together with companies, we build knowledge and ecosystems, observing together the global world and identifying global human needs, generating, developing and implementing that ONE BILLION dollars IDEA.