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Big Companies Should Collaborate with Startups
Eddie YoonSteve Hughes
FEBRUARY 25, 2016

Growth is increasingly hard to come by, so large companies are increasingly looking to entrepreneurs to help them find it. In the food and beverage category, growth came from 20,000 small companies outside of the top 100, which together saw revenue grow by $17 billion dollars.
Despite that aggregate revenue growth, not every startup is successful — in fact, the vast majority will fail.

Ironically, startups and established companies would both improve their success rates if they collaborated instead of competed. Startups and established companies bring two distinct and equally integral skills to the table. Startups excel at giving birth to successful proof of concepts; larger companies are much better at successfully scaling proof of concepts.

Startups are better at detecting and unlocking emerging and latent demand. But they often stumble at scaling their proof of concept, not only because they’re often doing it for the first time, but also because the skills necessary for creating are not the same as scaling. Startups must be agile and adapt their value proposition several times until they get it right. According to Forbes, 58% of startups successfully figure out a clear market need for what they have.

In contrast, big companies often end up launching things they can make, not what people want.

Successful collaboration between startups and established companies must go beyond financial deals: it must be personal and mission-oriented.....areas of emerging and latent demand are often highly concentrated.... spend time physically in hotbeds specific to your sector. ....met people...walk the aisles ...... explore up and coming datasets. SPINs is a retail measurement company that covers the natural and organic grocers. Yet too many companies don’t even bother to acquire this data because they dismiss it as too small to matter.....Just as important as personal knowledge are personal relationships. ...spend time with customers....skew more toward emerging customers......connect with key people who have tight connections with both startups and established companies in your industry.....collaboration needs to be mission-oriented, meaning it has to be focused on something larger than financial success. ......Executives who wish to tap into the growth of these smaller companies will find that having a big checkbook is not going to be enough, and that waiting for an investment banker to bring them deals is the wrong approach. A mercenary mindset will only go so far. When big companies try to engage with startups, a missionary mindset will create better odds of success.
large_companies  Fortune_500  brands  scaling  start_ups  collaboration  face2face  personal_meetings  personal_touch  information_sources  personal_relationships  personal_knowledge  HBR  growth  funding  M&A  success_rates  latent  hidden  proof-of-concepts  mindsets  missionaries  mission-driven  Mondolez  cultural_clash  Gulliver_strategies 
march 2017 by jerryking
What Knowledge Is of Most Worth in the Global and Digital Economy?
Catching Up or Leading the Way

by Yong Zhao

We must cultivate skills and knowledge that are not available at a
cheaper price in other countries or that cannot be rendered useless by
machines. This is mainly Pink's argument but is shared by others such as
the New Commission on Skills of the American Workforce and Harvard
economists Claudia Goldin and Lawrence F. Katz, both professors of
economics at Harvard University. In The Race Between Education and
Technology, they write:

Today, skills, no matter how complex, that can be exported through
outsourcing or offshoring are vulnerable. Even some highly skilled jobs
that can be outsourced, such as reading radiographs, may be in danger of
having stable or declining demand. Skills for which a computer program
can substitute are also in danger. But skills for non-routine
employments and jobs with in-person skills are less susceptible. (Goldin
& Katz, 2008, p. 352)
21st._century  automation  China  core_competencies  Daniel_Pink  digital_economy  eBay  education  face2face  future-proofing  highly_skilled  imagination  in-person  knowledge  Lawrence_Katz  Managing_Your_Career  mental_maps  non-routine  personal_growth  outsourcing  self-analysis  self-worth  skills  skills_training  special_sauce 
june 2011 by jerryking
American Dream is Changing | Nye - Gateway to Nevada's Rurals
Oct. 31, 2010 | Nye Gateway | by Fareed Zakaria. What can
you do to make yourself thrive in this new global economy? (1) Be
unique. Try to do something that is a specialized craft or art,
something that is as much art as craft, something that feels more like
artisanship than routine work, things that are custom & custom-made
still survive. (2) Go local. Do something that can’t be outsourced,
jobs involving personal face-to-face contact will never go to India. (3)
Be indispensable. Can everyone become indispensable? Well, no, but if
you learn a difficult craft and are good at it, if you can collaborate
well, synthesize well, put things together, work with others and work
well across countries and cultures, you will have a leg-up. (4) Learn a
foreign language (e.g. Spanish or Mandarin or Hindi). (5) Excel at
mathematics, able to manipulate data, algorithms, symbols, graphs,
balance sheets and all of these skills are the essential skills for a
knowledge-based economy.
Fareed_Zakaria  21st._century  ksfs  indispensable  specialization  local  languages  mathematics  organizing_data  advice  new_graduates  artisan_hobbies_&_crafts  bespoke  quantitative  global_economy  digital_economy  knowledge_economy  the_American_dream  in-person  face2face  uniqueness 
october 2010 by jerryking
U.S. Technology Dominance? Think Again
December 30, 2004 | WSJ | Richard Parenteau. Andy Kessler’s
Dec. 23 editorial-page commentary “ We Think, They Sweat “ is a prime
example of the hubris that will cause great loss to the U.S. economy and
loss of employment. He seems to believe that only in the U.S. can
inventions be made and new products designed....Mr. Kessler (and the
rest of us) must realize we are moving away from technology industries
and related employment to an economic model based on services that need a
person’s physical presence. We are fast losing our ability to compete
where the work can move elsewhere. The “thinking” barriers of university
education, experienced labor force, critical technology research
centers, etc. that kept high-prestige, high-pay jobs here in the U.S.
have fallen. Until we start “thinking” about shaping our future
opportunities, given the new facts of life, we are the ones who will be
“sweating.”
America_in_Decline?  Andy_Kessler  barriers_to_entry  college-educated  face2face  high-prestige  high-wage  hubris  in-person  letters_to_the_editor  services 
october 2010 by jerryking
The Digitalization of the World - Adam Smith, Esq.
11 January, 2010 | Adam Smith, Esq. | post by Bruce MacEwen.
"Education, as a role for us, should I hope be obvious. We educate our
clients, " and "We don't just rent this knowledge out to our clients, we
should impart it so it becomes their own.
Financial/medical advisers are people to whom we entrust (one hopes) our
every secret, hope, and fear. We should serve the same function. ... We
should be able to provide them with various roadmap's, decision trees,
alternative ways of pursuing their objectives, with lesser and greater
ratios of return and reward. Hands-on personal care? Yes, because there
is no substitute for being there. The more amazing technology and
collaboration-at-a-distance becomes (what the Web, ultimately, is all
about), the more important face to face personal meetings are. The more
people you know "virtually," the more you want to meet them in person."
Bruce_MacEwen  JCK  client_management  inequality_of_information  trustworthiness  knowledge_intensive  management_consulting  indispensable  professional_education  digital_life  teaching  decision_trees  ratios  roadmaps  risk-assessment  strategic_thinking  risks  face2face  personal_meetings  personal_touch  generating_strategic_options  client_development  expertise  digitalization 
january 2010 by jerryking
FT.com / Wealth / James Altucher - Never forget the power of networking
Published: February 16 2009 FT article by James Altucher who
tags along to one-day's worth of 8 meetings with Howard Lindzon, founder
of Wallstrip.com. Altucher's goal was to learn something in each
meeting and also to try to figure out where people were seeing
opportunities in this recession.
ideas  opportunities  investments  networking  face2face  James_Altucher  in-person 
february 2009 by jerryking

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