Challenge

I want to start an innovation consulting firm that uses design thinking to help small and

medium-sized organizations create and innovate new products and services. My first significant  task was to develop a business plan for this new firm. I signed up to receive mentorship from the  Service Core of Retired Executives (SCORE), a non-profit organization that provides free  business mentoring services to prospective and established business owners in the United States.  After reading numerous books on the topic of writing business plans and attending a great  number of webinars on the same topics, I finally settled on The One-Page Business Plan concept  to create my initial business plan. I used the visualization tool to help crystallize my ideas for the  business plan.

Selection

I chose the visualization tool, or visual thinking because it provided a way to sketch out

ideas of what my new business venture would look like. After attending a great course titled,  Market Research for Entrepreneurs sponsored by ECornell, I decided to grab a notebook and get  started writing my initial business plan. I have so many ideas about what I want to do, but I had  not connected my business concept to a real need in the marketplace. Visualization and mind  mapping and considerable research allowed me to identify perceived needs of my potential  customers and it also helped me to think about the vision, mission, and purpose of my company.

Application

After making lots of notes and recording numerous ideas in my notebook and reading and  rereading them repeatedly, I decided that I needed to get started crafting my business plan. I  attended a seminar sponsored by the Small Business Administration (SBA) titled The One-Page  Business Plan, created by Jim Horan, President of the One Page Business Plan Company. The  beauty of this concept is that it focuses the prospective entrepreneur on key parts of the business  plan and leads them through developing their ideas related to vision, mission, objectives,  strategies, and action plans. While my ideas are still in a rough first draft, seeing my business  plan take shape and come together was inspirational and motivated me to do more, including  signing up for the Design Thinking for Innovation course.

Insight

From the visualization tool, I learned that the ideas and creative substance of my new  business are within me, I needed a tool to bring it out of me. The visualization tool helped me to  conceptualize my vision of what my company could be in the future. I used words, diagrams, and  pictures to help crystallize the concept of my company and the value that I would bring to small  and medium-sized enterprises. Additionally, I learned that the one-page business plan is just a  start and the more substance that I add to my plan, the more real the business becomes to me and  the more excited I get about launching this new venture. On a broader note, I see applications for  design thinking everywhere. I researched various methods, processes, and procedures to use as a  foundational method to launch my new company, after being introduced to design thinking, I  knew I had found my method.

Approach

The major thing that I would change is to not wait for a specific tool or procedure to get  started writing my business plan. I needed to start creating and developing my plan before  finding a tool. I felt that I used the lack of a tool as an excuse not to move forward with planning.  Additionally, I used the mind-mapping tool to sketch out my ideas, but I did not use it as it was  described in the “What Is” process. The way I used it was more aligned with how the creator,  Tony Buzan, originally intended for the mind-mapping tool to be used. For my next challenge, I  will use the tool as outlined in the course


Challenge I want to start an innovation consulting firm that uses design thinking to help small and medium - sized organizations create and innovate new products and services . My first significant task was to develop a business plan for this new firm . I signed up to receive mentorship from the Service Core of Retired Executives ( SCORE ) , a non - profit organization that provides free business mentoring services to prospective and established business owners in the United States . After reading numerous books on the topic of writing business plans and attending a great number of webinars on the same topics , I finally settled on The One - Page Business Plan concept to create my initial business plan . I used the visualization tool to help crystallize my ideas for the business plan . Selection I chose the visualization tool , or visual thinking because it provided a way to sketch out ideas of what my new business venture would look like . After attending a great course titled , Market Research for Entrepreneurs sponsored by ECornell , I decided to grab a notebook and get started writing my initial business plan . I have so many ideas about what I want to do , but I had not connected my business concept to a real need in the marketplace . Visualization and mind mapping and considerable research allowed me to identify perceived needs of my potential customers and it also helped me to think about the vision , mission , and purpose of my company . Application After making lots of notes and recording numerous ideas in my notebook and reading and rereading them repeatedly , I decided that I needed to get started crafting my business plan . I attended a seminar sponsored by the Small Business Administration ( SBA ) titled The One - Page Business Plan , created by Jim Horan , President of the One Page Business Plan Company . The beauty of this concept is that it focuses the prospective entrepreneur on key parts of the business plan and leads them through developing their ideas related to vision , mission , objectives , strategies , and action plans . While my ideas are still in a rough first draft , seeing my business plan take shape and come together was inspirational and motivated me to do more , including signing up for the Design Thinking for Innovation course . Insight From the visualization tool , I learned that the ideas and creative substance of my new business are within me , I needed a tool to bring it out of me . The visualization tool helped me to conceptualize my vision of what my company could be in the future . I used words , diagrams , and pictures to help crystallize the concept of my company and the value that I would bring to small and medium - sized enterprises . Additionally , I learned that the one - page business plan is just a start and the more substance that I add to my plan , the more real the business becomes to me and the more excited I get about launching this new venture . On a broader note , I see applications for design thinking everywhere . I researched various methods , processes , and procedures to use as a foundational method to launch my new company , after being introduced to design thinking , I knew I had found my method . Approach The major thing that I would change is to not wait for a specific tool or procedure to get started writing my business plan . I needed to start creating and developing my plan before finding a tool . I felt that I used the lack of a tool as an excuse not to move forward with planning . Additionally , I used the mind - mapping tool to sketch out my ideas , but I did not use it as it was described in the “ What Is ” process . The way I used it was more aligned with how the creator , Tony Buzan , originally intended for the mind - mapping tool to be used . For my next challenge , I will use the tool as outlined in the course