There is no design overshoot. There are no features which are technologically interesting but which the customer does not value. You can build an intimate knowledge of customer needs through close personal contact. Find ways to place employees into your customers' operations to observe real products, in use, in real situations. These include things like donating prototypes, demonstration projects, tradeshow exhibits, site installation of early prototypes, preference testing in micro-markets and intensive focus grouping.
Concurrent engineering takes on a whole new meaning in a lean company.
When we add the lean principle of defining value through the eyes of the customer, it leads to a subtle but powerful extension. A lean company is driven by a single customer-focussed mission. The concurrent engineering definition now includes the entire supply chain, from suppliers, through to the internal new product development team, to customers. The entire chain collaborates to develop the new product. For example, customer input is mined from the customer service database.