Overnight successes are usually anything but. In most cases, what appears to be a sudden rise to prominence is often the the manifestation of years of frustration, trial and error and time spent honing one’s craft.
While there’s much talk emanating out of Silicon Valley nowadays that “pivot is the new fail”, when the term first gained popularity off the back of the lean startup movement in the early 2010s it effectively meant making a fundamental shift in your business model, based on customer learnings, towards one that is designed to bring you closer to product market fit.
Large organisations are engaging startups in growing numbers, due in part to a realisation that companies have not been built to respond to the accelerating pace of change in a timely manner, and that short of restructuring the entire organisation from the ground up, partnering with startups who are unencumbered by bureaucracy, short-term shareholder demands and employee incentives, is an easier way to tap into emerging technologies, business models and talent.
Corporate startup partnerships represent a massive clash of cultures. There are countless platforms that corporates can leverage to connect with startups such as Crunchbase, Angelist, Startup List and Gust. Add to this meet-ups, pitch nights, conferences, blogs and social media all making it easier than ever to identify and connect with startups doing compelling things in your industry or adjacent industries. What’s really lacking is a roadmap on how to work with startups.
It’s been well documented by the likes of Steve Blank and Clayton Christensen that if you want explore disruptive innovation in a large company, you have to either redesign or create parallel processes, systems and values internally in order up to support behaviours critical to innovation
Lawrence Levy was CFO of Pixar from Toy Story through to Monsters Inc. Uncover 10 key insights on corporate innovation and culture change.
About six months ago I made the decision to leave a successful management consulting career to follow my startup dreams.
Corporate legal and compliance (L&C) teams can enable corporate innovation.
Last week I had the pleasure of attending Startup Bootcamp’s Fintech Demo Day in London.
The Mills Oakley Accelerator has been established to commercialise legaltech.
Legal services are delivered is changing due to technology and business model innovation.
Gary A. Bolles is the co-founder of eParachute, Inc., a San Francisco Bay Area-based startup focused on helping job-hunters & career changers, inspired by the best-selling career book of all time, “What Color Is Your Parachute?”
Hailing from Austin, Texas, Ash Maurya is the founder of Leanstack. Since bootstrapping his last company seven years ago, he has launched five products and one peer-to-web application framework.
Mills Oakley is launching Asia-Pacific's first Legal Startup accelerator.
In this episode I speak with Arnaud Bonzom, Director of Corporate Innovation at 500 Startups.
Pascal Finette heads up Entrepreneurship at Singularity University as well as SU Labs, its accelerator program which grows startups that are focused on tackling the world’s most intractable problems leveraging exponential technologies.
The team at Lemonade Stand are proud to announce that we have successfully secured $100,000 as part of LaunchVic's $6.5m first round of funding allocations.
I had the pleasure of interviewing Whitney Johnson, author of Disrupt Yourself, and formerly co-founder of Rose Park Advisors alongside Clayton Christensen, way back when in episode #13 of Future Squared.
In milestone episode #50, I speak to Chris Kutarna, a two-time Governor General's Medallist, a Sauvé Fellow and Commonwealth Scholar, and a Fellow of the Oxford Martin School with a doctorate in politics from the University of Oxford.
This Fast Fix Friday is all about your ego and why you should kill it!
Max Kelly is currently Managing Director of Techstars London.
This Fast Fix Friday covers off on all of the different books, podcasts and other resources that have made me and can make you a better professional and person in general.
July 26, 2017
Level 1, 20 Queen Street Melbourne, VIC 3000
The Lean Canvas is designed for entrepreneurs seeking to validate their idea. Leveraging parts of the Business Model Canvas, as well as the underlying principles of Lean Startup methodology, the Lean Canvas helps users de-risk their idea as quickly as possible. Developed by Ash Maurya, the Lean Canvas empowers entrepreneurs by enabling as much learning as possible. Maurya sees the Lean Canvas as a "grounds-up tactical plan or blueprint that guides the entrepreneur as they navigate their way from ideation to building a successful startup."
The Business Model Canvas gets innovators to think intimately about the key business model elements in an effort to define, understand and test key assumptions. This supports the development of virtual prototypes and minimum viable products to rapidly test assumptions, increase the speed of learning and iterate towards product market fit. The canvas, in its original form, was first published by Alex Osterwalder, author of Business Model Generation.
The Value Proposition Canvas gets innovators to think intimately about the customer jobs-to-be-done, pain points and desired gains. This develops an explicity understanding of customer value creation, helps innovators design products and services that customers will want and supports marketing and business development activities. The canvas, in its original form, was first published by Alex Osterwalder, author of Value Proposition Design.
96% of startups fail. It's not because they build products that don't work. Rather, it's because they build products that nobody wants! The startups that succeed are those that define the key make or break assumptions underlying their business model, create experiments and pass/fail metrics and get out of the building to test their assumptions using real people. Speed and making as many changes based on validated learnings as possible before running out of resources is imperative to success. Before you do this though, make sure you've completed your business model canvas first.