Week 3:

Product Development

e-Yantra, IIT Bombay

October 8, 2019
Creativity
Creativity: The Power of Deep Thinking!

Creativity is not a skill, but an ability that lives within every

individual
As entrepreneurs we need to be creative at every stage of the
double diamond, with an open mind

Figure: Image Courtesy - Creativity Guide: Develop Your Creative Ability

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Phases of Creativity

Creative Capacity
If we can do things differently we have the ability to be creative
Creative Enquiry
What if we don’t know anything about how to solve our
problem statement, how many different solutions can we come
up with to solve the Problem Statement

Imagine this as your problem statement These can be all your possible solutions

Creative Expression
Even though we all are creative, expressing it is important
Creative expression may not play a role in building the
solution, but as entrepreneurs we should be able showcase
creative solutions(eg. Apple and Tesla)

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Product Design
Elimination is the Power

It is important to find the PRIMARY cause of the problem.

Only add features when required
For an entrepreneur ”Is it really required”, is an important
question to remember (”KISS”: Keep It Simple Stupid!!)

Table: Google Vs Bing

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Atomic Unit
Not in Physics ,

The most important and the only feature of the product from
which your business evolves is your atomic unit
Your product may not have a atomic unit, but having one
helps focus on the most important feature of the product
Generally, atomic unit originates from our Cause Effect (CE)
pairs vertical(WEEK 1)
If possible try to identify atomic unit that closely relates to
our customer or primary stakeholder

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Key Performance Indicators(KPI)

KPI’s are metrics which help analyze key features of your

product
KPI’s should measure your atomic unit
These are handy from development phase of our product right
up to business level
Every KPI should have key factors(KF) derived from features
of our product

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Key Performance Indicators(KPI)
The KF’s should have weights summing to total of 100 for
each KPI

e-Yantra, IIT Bombay Figure

Product Development 7/9
Failure modes and Constraints
Keeping our solution simple reduces chances of failures in
initial phases

Figure: Different stages to handle product/service failures

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 Good Luck!

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