Posts tagged Startup

“In one of the first chapters of “In The Plex”, Steve Levy says it’s the “superbrainy engineering mentality that represented the future of business in the Internet age.” How true! What is not driven by the technology today? Toothbrush - can be electronic, refrigerators could automatically re-order food for you (granted this one didn’t take off just yet), peanut butter is automatically scraped from barrels  with six sigma quality and stuffed into a jar, GE producing PAC imaging systems and American Express tracking fraud and abuse and at the same time partnering with @FourSquare to engage with the consumers.

An then there is complexity in tracking all these data points to be able to make just-in-time, accurate decision support capabilities of the living breathing organization.

An organization is like a human body. Everything needs to function perfectly in perfect unison or else you are sick. Well, corporations are sick today and will be for the foreseeable future.

So why, you ask? This is my theory and please don’t assume that I am talking about 100% of large enterprises. There is a small percentage (I dont have empirical data, maybe somebody does) of companies that are run by “super brainy mentality” that get just GET IT!!!

The business people who are the top of organizations today just don’t get it. They know the phrase “real time”, but don’t know what to do with it or how to “install it”. Decisions are made on stale information. There is so much data that becomes information, but DOES NOT become KNOWLEDGE.

The leaders of today also do not understand that everything is transparent. That there are no more secrets and backhanded deals. Employees have a million ways to communicate anything from inside of the corporation’s skin using today;s technology. Protectionism DOES NOT work

Tomorrow’s corporations need to inspire their workforce, they need to innovate in the marketplace, they need to engage with their customers and most importantly trust the future leaders. The leaders of today do not know how to accomplish this. They don’t understand in what ways technology can help. They just place demands based on inaccurate information, hire CIO’ who are pure operators and not business thinkers and lose the edge… Technology was a back thought of the business goal not the leading dog of the pack. 

And this is why I think corporations as living and breathing organisms are becoming extinct. The future is entrepreneurship. And while, the word “entrepreneur” most of the time signifies two guys in a garage I am not just describing that. It also is a corporation that allows freedom to innovate, freedom to make decisions, acceptance of quick failure and quick recovery as well as rewarding risks at the rank and file.  

There are two lessons here. One is a famous phrase by Esther Dyson: ” “Fail cheap. Fail fast. Fail often. Always make new mistakes.” Secondly is to embrace the new corporate leaders that know how to apply technology to grow a business, innovate and at the end create jobs!!!

On January 15th, I pledged towards a neat project on Kickstarter - PadPivot (http://kck.st/gmzC2U). Their goal was to raise $10k towards “the ultimate tablet stand for iPad, Galaxy Tab, Kindle, or other tablet device”. I love Kickstarter as a platform and once in a while contribute to other neat projects such as “Times Square into Art Square” (http://kck.st/caH6Lc)

What I loved about PadPivot designers, Jim and Bernie, is that the enthusiasm was exuding from day one of the project and it has not stopped. This passion must have been felt by 4823 project backers raising in total over $190k.

Here is what impressed me the most… I, one of 4823 backers, really felt as if I was part of the process. We all helped pick the logo, observed bag designs, saw the first shot that turned into tools, saw pictures of Jim and Bernie at MacWorld, etc, etc

But… We were also informed of every issue. Whether it was PadPivot team’s or not they took ownership and full accountability even for Kickstarter platform problems.

From the beginning till now there has been 49 updates to the backers and a lot of time elapsed since my initial contribution to the project. 

The PadPivot is still not at my house (coming very soon), but I am more then willing to be a patient consumer all because Jim and Bernie had me engaged, informed and their full transparency throughout is what will continue making PadPivot a great success.

A lot of businesses can learn from them and apply this methodology as a differentiating factor…

People say that you are the one in control of your own destiny and in many way it is very true. Without your own zeal, persistence and the thirst for knowledge you will not get very far.

People also say that if you want something done, do it yourself. Well that also holds a piece of truth to it, but opportunity costs play a big role in that decision. Focus on what you can do best!

However, the key to your success is the people you surround yourself with. Unique experiences, perspectives, opinions and advice from your core team of advisors, mentors, coworkers is what will make you or break you. Listen, assess, engage, ponder and focus on making people around you successful. The rest will come!