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The kick inside The entrepreneurial mindset Prof. Mar7n Kupp @mar7nkupp
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  • The kick inside The entrepreneurial mindset

    Prof. Mar7n Kupp @mar7nkupp

  • Established market leaders have frequently been challenged and toppled by new players

    Innova7on examples

    Established market leader Industry

    New market leader

    PC industry in the 1990s

    Furniture industry in the 1980s

    Mobile phone industry in the 2010s

    Music industry in the 2000s

    Airline industry in the 1970s

    Prof. Dr. Harald Hungenberg 2

  • and that may well con7nue in the future Innova7on examples

    Established market leader Industry

    Poten7al new market leader

    Publishing industry?

    Energy industry?

    Newspaper / magazine industry?

    Educa7on industry?

    Banking industry?

    Prof. Dr. Harald Hungenberg 3

  • All big companies started as small companies

  • but changed over 7me!

  • We know what it takes to create the entrepreneurial mindset

  • so why do established companies so oXen struggle?

    Division of labor Missing metrics Dominant culture

  • Division of labor makes you ecient but hinders passion and commitment

    8

    Start-up Projects

    Joining Voluntarily, people choose what to work on

    Directed by managers

    Choosing collabora7on partners

    Self-determined

    Centrally organized in a hierarchy

    Decision-making

    Distributed Central

    How many projects?

    1 5-9

  • Metrics for ge_ng your project going

    For start-ups For projects

    Acquisi7on users come to site from various channels

    You start talking to colleagues, spreading the word (# of colleagues that listen)

    Ac7va7on users enjoy 1st visit: "happy experience

    First colleagues come to you and ask you about your project (# of colleagues that come to you)

    Referral users come back, visit site mul7ple 7mes

    Your colleagues start asking you whether they might join your team (ability to recruit a team)

    Reten7on users like product enough to refer others

    The word spreads and senior management hears about it (# of colleagues that refer your project up the ladder)

    Revenue users conduct some mone7za7on behavior

    You are ready to get a budget and resources

    (Based on AARRR metrics by Dave McClure)

  • Does your culture Encourage new ideas, especially from below and from

    unexpected sources. Leave some slack for experimenta7on, whether spare 7me

    or seed money. Puts individuals and interac7ons over processes and tools Values responding to change over following a plan Encourage customer collabora7on Support building and tes7ng minimum viable products Ac7vely encourage pivots (when learning measure indicate

    a pivot) Ajract and retain people with an etreprneurial mindset

    Based on: Kanter, R. HBR Blog, 2013, The agile manifesto, Ries, E. 2014

  • It all seems obvious

    Just let people

    do what they love with people they love .