What every business can learn from young entrepreneurs

frederic de meyer founder

institute for future insights

frederic@i4fi.com

www.i4fi.com

www.fredericdemeyer.com

if you want to know the future…

look at your children

Much of what I will tell you is inspired by these guys

Web entrepreneurs

Mobile

Disruptive business models

Social entrepreneurs

What do these entrepreneurs have in common?

Start of career 20 yrs

What has changed?

This constitutes a huge challenge…

More youngsters become entrepreneurs + GenY more mobile and demanding + Talent gap

Competitiveness:

Innovation

Leanness

War for talent

Create the right environment and organization

How to address this challenge

Create the right environment and organization

Based on the learning from young entrepreneurs:

• be very very thoughtful with new ideas

• create a co-working environment

• cherish failures

So you think you value new ideas?

The typical lifecycle of an innovative idea in the corporate world

Idea generation Idea selection Idea celebration

The typical lifecycle of an innovative idea in the corporate world

The caveats: • Not all the good ideas get elected / implemented • The least sensational ideas don’t get a chance • Decision criteria often not clear / arbitrary

=> Most of the time this is demoralizing employees !

Let’s give this an entrepreneurial twist

‘pitching’ ideas from anywhere within the organization, true entrepreneurial style

Give anyone in the company a voting right

… or even better: ‘crowdfund’ the ideas

Turn the idea generators into intrapreneurs !

Do you have the right environment to nurture

innovation?

How these entrepreneurs deal with their shortcomings

Co-founder Co-working Mentoring Business

Angels

Founder

Institute

Twitspark v v v

Engagor v

Shallibuy v v

Carambla v v v

Tapcrowd v v v

BoI v v

Outspot v

Brainspot

Ecoworks v

Youbridge v v

CTG v

So, based on this, why not…

Stimulate ideas that were ‘co-founded’ across divisions

Stimulate co-working spaces across divisions

Stimulate project-based mentorship

Failure is not an option !

…or is it?

Even the best sometimes fail …or pivot

Don’t underestimate the power of failure…

Don’t underestimate the power of failure…

Don’t underestimate the power of pivoting

Wrapping up

• failure is not only an option, it’s a must… because that’s the way these young people innovate

• create an environment of co-working, co-founding and mentorship

because that’s the way they deal with their shortcoming

• be serious about the ideas in your company because that’s the way you will keep them motivated

Some homework How would this advice from young entrepreneurs apply to your company?

• If you feel you have everything under control this just means you’re not going fast enough and that you learn nothing;

• Check regularly if you are ashamed of what you delivered six months ago. If this is not the case it means that you didn’t improve;

• Follow your passion. Do what you are good at and delegate all the rest;

• Include different internal and external stakeholders in your ideas and strategy;

• Be different;

• Have fun!

www.i4fi.com www.fredericdemeyer.com

additional questions: frederic@i4fi.com

The future cannot be predicted …but it can be made !

(ancient African saying)

website www.i4fi.com

blog www.fredericdemeyer.com

mail frederic@i4fi.com

Phone +32 478 68 13 08

for useful long-term planning tools: http://www.i4fi.com/useful_tools.html

Discover our services…

° thought-provoking speeches for your strategic planning session or industry event

° training on how to manage a megatrend exercise in your company

° assist you all the way in conducting an in-house megatrend exercise

° audit your business in how future-proof you –and your competitors- are in the

light of megatrends

Are you prepared to make the maximum out of long-term trends?

In English on

click here

“Frederic offers a unique insight of how global changes

translate into new business opportunities. This book is an

essential tool for any future-oriented manager or

entrepreneur and anyone involved in innovation strategies”

Philippe De Ridder, co-founder, Board of Innovation

“Designing and implementing a good strategy is quite a

challenge. In an increasingly complex world, it is becoming

increasingly difficult to recognize the core from the noise.

This book on megatrends will help you do this. It will give

you the necessary insights to focus on the themes that are

crucial to the future of your company. A must read!”

Jeroen De Flander, co-founder, The Performance

Factory, author of Strategy Execution Heroes

“This excellent book is a comprehensive overview of the

major trends and also offers a methodology to better assess

the future reality and master its consequences. The author

provides an essential guide for any strategy exercise”

Peter Corijn, Vice-President, Procter & Gamble In Dutch at click here

What everybody can learn from young Flemish entrepreneurs (in Dutch)

Now available at

click here

“Dit boek geeft een knap inzicht in de ideeën, de personen en de ambities

van jonge starters, en ik hoop dat het nog meer mensen 'goesting' geeft

om eraan te beginnen.”

Bart Becks, Founder SonicAngel, FilmAngel en Angel.me, Voorzitter

IBBT

“Starters hebben het voordeel dat ze in een volkomen ander universum

kunnen denken. Ze kleuren niet zozeer buiten de lijntjes, ze trekken

gewoonweg nieuwe lijnen in niet eerder verkende dimensies.”

Jo Libeer, gedelegeerd bestuurder Voka, Vlaams netwerk van

ondernemingen.

“Ik ga ervan uit dat zowel dit boek, als al onze acties, van onze jongeren

slagkrachtige ondernemers zal maken.”

Philippe Rogge, General Manager Microsoft België en Luxemburg

“Een bemoedigende, inspirerende staalkaart van wat reilt en zeilt binnen

jong ondernemend Vlaanderen. Een impliciete oproep tot meer

verantwoordelijkheidszin en trendbreuk in "risicoschuw' Vlaanderen.”

Filip Tack, Founder en Senior Vice-President, Nomadesk

“De voorbeelden in dit boek tonen aan dat ondernemerschapszin wel

degelijk aanwezig is bij jongeren. En wie weet wel nog meer dan bij

voorgaande generaties.Ik hoop dat velen zich kunnen inspireren aan de

positieve voorbeelden in dit boek.”

Caroline Ven, Gedelegeerd Bestuurder, VKW