What Google gets really wrong on Entrepreneurship
Lets say I admire Google as a company, and certainly their initiatives in the entrepreneurial environment: Google Ventures, Google Launchpad, Google for Entrepreneurs, their Sprint methodology (inspired on Steve Blank’s contributions and other authors’ without the due recognition in my opinion, but spectacular, you need to read the book), their 10X view of innovation and disruption, and many others!
But sometimes when you are leading a space with innovation something can go wrong in your front lawn:
There is almost one definition of entrepreneurship for every startup self named “Guru”. Then we have Google Search’s one (absolute leader finding meaning to things, revealing the “how to”, fountain of trust, but misstepping here).
Google´s: [Entrepreneurship is] “the activity of setting up a business or businesses, taking on financial risks in the hope of profit.”
And here, once again, we fall in the same trap. The same one that financial intermediaries (who really profit without risk) have installed for everyone to be playing the financial “raise money grow revenue quickly without thinking lose it all raise again”.
Entrepreneurship is not about taking financial risks. Modern entrepreneurship is about reducing risk, even finding ways to eliminate financial risk (there are for every industry): elaborating hypothesis, testing, focusing on learning over rushing to revenue, discovering customers real pains and gains in jobs to be done, reducing fixed costs, outsourcing, getting paid before you produce, working with the sales funnel to generate a predictable, profitable sales roadmap, searching for a repeatable and scalable business model!
Let me share two definitions of real experts which I admire, and have influenced the story of real entrepreneurship:
Howard Stevenson (HBS): entrepreneurship is the pursuit of opportunity beyond resources controlled.
Recommended article: Entrepreneurship: A Working Definition.
And my favorite from the Father of modern entrepreneurship Steve Blank
Steve Blank’s (Stanford, Berkeley, Columbia): a startup is an organization formed to search for a repeatable and scalable business model.
Mr Google, I really admire your work on innovation and advancing entrepreneurship. Hope you don’t take it wrong, think of this article as another contribution you make towards startup knowledge. Your name drives the crowds you know?
Welcome to this wonderful world of entrepreneurship, which is now under the control of financial intermediaries, but will soon be an universal activity for everyone to explore and follow their purpose and passion, independent of the resources they control, and independent of the resources others control!
At Scalabl, we are a global community of 400 entrepreneurs actively working to achieve this vision!
If you liked this article you can also read:
Why Entrepreneurs Shouldn’t get Lured Into The Current Startup Ecosystem / The Startup Hacker Forbes March / Talent and High Performance Teams: driven by purpose / Ideas Manifesto: Innovation [ ] Business [ ] Profit [ ] / Marketing Driven Disruption / Entrepreneurship through Networking / Don’t Allow Anyone to Determine your Growth or “Potential”
More on Francisco Santolo, Serial Entrepreneur, CEO Scalabl, Board Member & Co-Founder at over 40 companies