This document discusses reducing risks in product development through design thinking. It identifies 4 main risks: 1) lack of market need, 2) lack of product focus, 3) building the wrong solution, and 4) building the solution poorly. It advocates starting with user interviews to understand needs, focusing the product, continuously improving based on user feedback, and employing design thinking techniques like collaboration and iteration to help avoid these risks. The document provides examples and concludes by encouraging organizations to start small, be transparent, inviting, generous, collaborative, and kind to transform their approach using these principles.