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5 Things Leaders Must Do To Empower Lean Startup Continuous Innovation
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Lean Hero’s Journey
Read Eric’s Book
Fail to Rally Support
Small Win
Business Revolts
Big Success
Cultural Change
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An organization's ability to learn, and translate insight into action rapidly, is the ultimate competitive advantage.
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BRANDING LEADS THE WAY EXISTING MARKET PROBLEM WELL UNDERSTOOD INNOVATION IMPROVES DIFFERENTIATION INCREMENTAL CHANGE
PRODUCT LEADS THE WAY UNKNOWN / NEW MARKET
PROBLEM NOT WELL UNDERSTOOD INNOVATION IS DRAMATIC
RADICAL CHANGE
Innovation Continuum
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Innovation ContinuumFINANCE
BRAND
LEGAL
COMPLIANCE
IT
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WALK BACK FROM WALL STREETNumber One
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No legal requirement exists for publicly-traded companies to
maximize returns to shareholders.
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Behavior Incentived• Lower costs • Increase productivity • Increase sales • Quarterly profits
This can only happen in existing markets.
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Behavior Not Incentived• Understanding customers’ needs • Taking risk • Learning • Iterating on ideas to get them right
In other words, all the requirements of Innovation.
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Actions• Tell Wall Street you’re spending x$ on
innovation that will lessen near-term returns • Compensate senior leaders for investing in
innovation • Incentivize entrepreneurial activities
Lessen the financial barrier to Innovation
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CREATE A CULTURE OF SAFETYNumber two
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COMPLACENCY PASSION
APATHY FEAR
Urge Bold Behavior
Prov
ide
Secu
rity
Bold w/o Safety = FEAR
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Actions• Consciously reduce “fear of failure” through
language and performance management • “Take arrows” for the innovators • Work with functional support organizations • Walk it like you talk it
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REIGN IN THE LAWYERSNumber Three
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US Constitution“To promote the progress of science and
useful arts, by securing for limited times to authors and inventors the exclusive right to their respective writings and discoveries.”
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Patents are a Vanity Metric• Universities & large enterprises
love to tout the # of patents they’ve earned.
• There is no VALUE to society in the patent itself.
• This is how Marketing took over “Innovation”
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Patents Slow New Value• Patents are written for lawyers, not innovators • Patent litigation reduces profitability • Used often merely as protection • R&D stops research at issuance • Intellectual property rules run amok
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Food for ThoughtYesterday, there was a wall of Tesla patents in the
lobby of our Palo Alto headquarters. That is no longer the case. They have been removed, in the
spirit of the open source movement, for the advancement of electric vehicle technology.
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Actions• Incentivize commercialization testing • Measure progress via LS validated learning • Establish legal guidelines for LS rapid
experimentation • Teach LS to Legal to increase value
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MENTOR NOT MANAGENumber Four
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Mentor vs Manage• Manage when in execution mode
– Mentor when searching or learning. • Manage when working with the “known”
– Mentor when dealing with uncertainty.
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Action: Lean Startup Mentors• Inspire • Encourage risk taking • Pivot or Persevere? • What’s the riskiest assumption? • Experiment to overcome conflict
Mentoring is creating the environment for insight
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LEAN STARTUP FOR MANY, NOT A FEWNumber Five
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Competitive Advantage• Better customer satisfaction and passion • Improved internal processes • Experimentation reduces “fear of failure” • Culture change = continuous innovation
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Actions• Go beyond accelerator programs and
innovation teams. • Teach everyone lean startup, from
Accounting to HR to Product teams • NOT everyone will be innovators, but
innovation can come from anywhere
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So, Why Take This On?
26
Your company needs you. The WORLD needs you!
It’s (potentially) HUGELY rewarding. It’s hard, but fun.
EMPOWERING. CREATIVE. INSPIRATIONAL.
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Thank you!@BrantCooper