The kick inside: The entrepreneurial mindset
-
Upload
martin-kupp -
Category
Small Business & Entrepreneurship
-
view
332 -
download
3
Transcript of The kick inside: The entrepreneurial mindset
Established market leaders have frequently been challenged and toppled by new players …
Innova7on examples
Established market leader Industry New
market leader
PC industry in the 1990s
Furniture industry in the 1980s
Mobile phone industry in the 2010s
Music industry in the 2000s
Airline industry in the 1970s
© Prof. Dr. Harald Hungenberg 2
… and that may well con7nue in the future Innova7on examples
Established market leader Industry Poten7al new
market leader
Publishing industry?
Energy industry?
Newspaper / magazine industry?
Educa7on industry?
Banking industry?
© Prof. Dr. Harald Hungenberg 3
… so why do established companies so oXen struggle?
Division of labor Missing metrics Dominant culture
Division of labor makes you efficient but hinders passion and commitment
8
Start-‐up Projects
Joining Voluntarily, people choose what to work on
Directed by managers
Choosing collabora7on partners
Self-‐determined
Centrally organized in a hierarchy
Decision-‐making
Distributed Central
How many projects?
1 5-‐9
Metrics for ge_ng your project going
For start-‐ups For projects
Acquisi7on users come to site from various channels
You start talking to colleagues, spreading the word (# of colleagues that listen)
Ac7va7on users enjoy 1st visit: "happy” experience
First colleagues come to you and ask you about your project (# of colleagues that come to you)
Referral users come back, visit site mul7ple 7mes
Your colleagues start asking you whether they might join your team (ability to recruit a team)
Reten7on users like product enough to refer others
The word spreads and senior management hears about it (# of colleagues that refer your project up the ladder)
Revenue users conduct some mone7za7on behavior
You are ready to get a budget and resources
(Based on AARRR metrics by Dave McClure)
Does your culture … • Encourage new ideas, especially from below and from
unexpected sources. • Leave some slack for experimenta7on, whether spare 7me
or seed money. • Puts individuals and interac7ons over processes and tools • Values responding to change over following a plan • Encourage customer collabora7on • Support building and tes7ng minimum viable products • Ac7vely encourage pivots (when learning measure indicate
a pivot) • Ajract and retain people with an etreprneurial mindset
Based on: Kanter, R. HBR Blog, 2013, The agile manifesto, Ries, E. 2014