4 reasons why collaborating with a start-up studio is an excellent idea!
In recent years we have experienced that many organizations mainly talk about innovation but don’t actually innovate. Numerous ideas and concepts are reviewed but often they don’t become reality due to various reasons. Companies really struggle to create new relevant products and services, to keep ahead of the competition and to attract top talent. And all this in an era where young, creative and innovative start-ups are still advancing.
‘Innovate like a start-up’ is advice that you hear a lot from the agencies and innovation consultants that pop up out of nowhere. Giving advice about innovation is a growing market. But the solution does not lie in working like a start-up. The solution lies in finding a way to collaborate with the entrepreneurs behind these start-ups. A start-up studio offers the context for this collaboration.
Below we give the four most common reasons to enter a partnership with such a studio as an organization.
1. Collaborate with the most creative and talented innovators
A start-up studio is a platform for creative and innovative entrepreneurs. The environment and culture of a studio attract the talents that want to work on ‘the next big thing’. They are not afraid of the unknown but it stimulates them to take that extra step. To look for boundaries and to leave the status quo far behind them. It is this culture that ensures that experiments gain value. To learn by practice, day in day out.
2. Look from a different perspective
‘We have been doing it for years’, ‘We have already tried this’ or ‘That will not work, because…’ are responses you often hear to new ideas within (medium) large companies. We call this the ‘curse of the expert’. You have learned how things are done, what is possible and what is not and what is realistic.
But the problem with expertise is that it stands in the way of new ideas. You get blinded by presumptions that stop real innovations. The collaboration with a start-up studio just offers a total different perspective.
3. Use the speed and execution power
Most large companies cannot compete with start-ups in terms of speed or efficiency. Many organizations try to apply start-up techniques, like the LEAN start-up and Design Thinking. And often it is not these methods that fail. It is the culture that does not let new ideas blossom. Plus, these companies are often not very able to adjust to new circumstances. They are mainly optimized for an efficient execution of recorded processes and exceeding the expectations of the shareholders.
A start-up studio has what is missing at the majority of organizations: execution power. The ‘doing’ mentality of young, creative and enterprising talent is connected with the scale power of large organizations. At this interface opportunities are created that are quickly elaborated into a validated business model and eventually new companies.
4. Run less risk
Large companies have the tendency to run as little risk as possible. After all, they have a large clientele and a reputation to maintain. The development and testing of new products, services, interactions and business models is mainly trial and error. Failures provide progress. However, a failure can have a large impact on the organization itself.
A start-up studio cannot run without risk. In fact, taking a risk is indeed the key to success. It forces to discover, experiment and test. Therefore, moving the risk to a start-up studio is a good reason to collaborate. When things go wrong your organization will not be at risk.
We are Mindt. A start-up studio where we build the companies of the future together with creative, innovative entrepreneurs and corporates. Companies that apart from economic efficiency also provide social return. That is what we find important.
Together with our ‘entrepreneurs in residence’ we like to take on the challenges of established companies. In a few steps a team of entrepreneurs together with our support team investigates the possible opportunities, they develop mvp’s and prototypes and they create traction so they can eventually launch. No big reports or fancy presentations with well-meant advice. But innovative business models validated by real (potential) customers. Ready for a spin-in or a spin-out. So, new, durable and scalable business. Just by doing it. Start-up as a service.