People often ask me how to incentivize entrepreneurial behavior from within an established organization. My first answer is “stop killing it.” Leaders put so many barriers and shut doors in front of would-be internal entrepreneurs that just lifting a few barriers or leaving a few doors ajar would on their own create a momentous acceleration in their flow of innovation.
Over one billion people are on it. While its future is still uncertain, it is already impacting most businesses, transforming journalism, and raising broad societal issues in its wake.
The DMV completely disrupted my plans today. I walked in, notebook and laptop under arm, expecting to spend an hour writing while waiting. But after just 15 minutes I was done!
For over a decade now, corporations have been seeking to understand how to better prepare themselves against the onslaught of technology firms spreading their way into nearly every sector, from banking to real estate to retail. They created incubation groups, acquired startups, sought to create a “culture of innovation.”
Strategy lasts. Derived from the title of ancient Greek government officials charged with rallying resources to fuel military campaigns, refined in China, then ported back to the West by Napoleon, the science or art of coming together to agree on a goal, and the method to achieve it, is an activity that like farming or governing or writing poetry distinguishes human from animal.
I can do it in my sleep. Four years at Wharton, two at Columbia Business School, and a few more in investment banking have drilled into me the most broadly used tool that guides corporate decision-making: the financial projection.
Last Wednesday, in a suburban New Jersey warehouse converted into conference space and a cooking show set, I joined 80 managers assembled to discuss their company’s strategy. We had helped design the two-day experience and were at the point in the flow of the off-site when we hoped we would hear some new, breakthrough insights.
I was never the star soccer player. I played every game throughout high school, but rarely scored. Today, I huff and puff Saturday mornings with friends ages 40 and up, yet my record remains unchanged.
I have been repeating myself for a decade. In each of the 1,000 or so workshops and keynotes I have delivered over the past ten years, I have repeated some version of the refrain, “Do what customers love and competitors won’t copy.”
Greg Hale was an electrical engineer with a curious spirit when he interviewed for a position in Disney’s engineering department almost 30 years ago. He was eager to see how things worked behind the scenes, so he applied for the job figuring that even if he didn’t get it, he would at least get a backstage tour.