Your Company Has Startup Potential
When was the last time your company had a transformation?
I am not talking about when you migrated all document storage to the cloud or automated your lead generation. I am talking about transitioning your enterprise into a modern company.
When was the last time that revisited your approach to human empowerment? Do you have an entrepreneurial management system in place that replaces politics and bureaucracy with a squad of entrepreneurs?
If you have completed this transformation recently, then I applaud you. I think you are setting your company up for long-term success.
If you haven’t yet, Eric Ries has created a solid playbook for you. It is called The Startup Way.
After reading a proof version of the book, I shifted one of my strongest opinions.
I use to firmly believe that I could never work for a large company. This is one of the main reasons I forced myself into entrepreneurship straight out of college. I like building rapidly instead of planning, and I believed that a start-up was literally the only place I could achieve that experience. Going the traditional path of putting in my time at a large corporation was a nightmare exercise to think through.
I still probably couldn’t survive working for the majority of the Fortune 500, but I now believe that I could work for the companies that embrace The Startup Way’s methods.
I believe the majority of entrepreneurial talent will feel the same way.
At Animal Ventures, I spend a lot of time identifying intrapreneurs inside of the large companies we are doing supply chain automation experiments with. I have learned that nailing this role is vital to the project’s long-term success.
In just one afternoon of searching, I can usually diagnose if the company embraces The Startup Way’s philosophies or not, and I have experienced the successful outcomes of those that do. It isn’t surprising to me why great talent leaves the companies that don’t invest in a entrepreneurial transformation. An entrepreneur has an enormous challenge ahead of them and the last thing they need to solve is a company cultural hurdle.
Eric’s book is powerful validation of these dynamics and how company leaders can make them work in their favor.
In Eric’s book you will learn a number of fascinating topics:
- The difference between a Modern Company vs. Old-Fashioned Company.
- How entrepreneurship can be a function within your company. I specifically enjoy how business leaders can set up an island of freedom for the entrepreneur.
- Making entrepreneurship a path can boost your current team’s performance and assist with talent acquisition.
- Your startup projects should have a deadly fuse attached to it in order to prevent scope creep.
- The book will remind you that it’s all about the team and small teams beat big teams.
- You likely have degrees of dogma that keep you away from deeply understanding the customer.
- You will get insight into awesome exercises like how Amazon uses a press release draft that focuses on customer improvement and works backwards from that draft.
- If no business plan survives first contact with customers, why are you wasting so much time on planning?
- You cannot pivot without a vision.
- You can transform through new management concepts like “Innovation Accounting.”
The Lean Startup set a solid practice to help startups survive. Eric’s new book sets a standard for allowing a startup to survive within your company.
I hope you grab the book and start your transformation soon!