By Guest Author Soren Petersen and Paul Hagen
For a startup to succeed, it must do more than simply develop a clever product or evolve features that mimic an incumbents’ value propositions. Rather, it must design customer experiences that substantially improve the value propositions by a magnitude. Why? Because new capabilities like cloud-based computing, digital distribution, crowd-sourced funding, and global outsourcing make product-focused innovation easy to mimic. Thus, reputation and word-of-mouth that derives from a customer experience play an ever critical role in success. >>>
By Guest Author Soren Petersen
Successful startup founders are fueled by passion, a willingness to take risk and do whatever is necessary to make things happen. What they initially lack in financial capital, they more than make up for in human and social capital. So, how do startup teams most effectively match their limited resources and time to a cut-throat market and technology environment? How do they obtain funding and move down the road to becoming profitable? >>>
By Guest Author Soren Petersen
In stark contrast to previous decades, starting a new venture can be accomplished on a shoestring budget. This is due to the diminishing cost of information and tools combined with the relatively high value of knowledge, skills, and experience that founders bring to the equation. Bootstrapping is now often possible up to Round A Financing. This is where capital is required for marketing to scale rapidly and New Product Development is required to deliver high quality offerings. >>>
By Guest Author Soren Petersen
Startups’ biggest challenge is designing a Minimum Viable Product (MVP) and using it to prove that a niche with paying customers can be profitably acquired. Seemingly, the more innovative the product is, the harder the initial early adopters are to locate and learn about their needs, wants and desires. For example, few knew they needed a Facebook page or a Tesla sports car before they experienced them. >>>
By Guest Author Soren Petersen and Martin Willers
The world is experiencing a boom in interest around startups as well as in design and the combination of the two is seen as the perfect cocktail for creating new and innovative offerings. Despite this perfect marriage, startups still seem to be baffled about how and when to engage design. This begets the question “Why don’t design consultancies create startups?” >>>
By Guest Author Soren Petersen and Dr. Barry Katz
Scattered across the globe, concentrated ecosystems are creating our future, from Formula One racing in Southern England, to new furniture design created in Northern Italy and high-tech consumer products designed in Silicon Valley. Design is a key factor in the development of all these cornerstones in the Creative Economy. >>>