"Think like a startup" - a guide to radical innovation for established companies

‘Think like a startup’

by www.tinethygesen.com entrepreneur

A guide to radical innovation for established companies

•CEO Everplaces •Cofounder Founders House •Steering group Nordic Council Ministers •CEO Venture Cup •Startup radio •Cofounder Startup Village •Aller’s Digital Think Tank •Board ITU Business Development •Board, Markedsmodningsfonden •CEO 23 •Board Cph School of Entrepreneurship •Founder Cleantech Open •Mentor Startupbootcamp •Board Venture Cup •CEO GlobalEventSupplies •Mentor Seedcamp •Referrer HackFwd •TV, SoEinDing •Jury World Mobile Awards •Think tank, government •Advisor, European Uniion •Top 50 women in Tech in Europe •Top 100 talent in DK •Mentor seedcamp •Jury The Webby Awards •Initiator Creative Business Cup •Board Next Generation •Board Easi’r •Jury TheEuropas tech award •CMO Colego •Board, Danish Ventures

Hello, I’m Tine Thygesen

Tech entrepreneur & digital strategist

We can all agree thatinnovation is important.

But what causes it?

tinethygesen.com

Previous success is no guarantee for continued growth.

@tahitahi

88% Fortune 500 from 1955 are gone, bankrupt or merged into

unrecognisable form

Life time in Fortune 500 decreased from 75 years to 15 years

tinethygesen.com

$25B $34B $50B $250B $375B $670BValue $

New: Tech startup & radical innovation

$45B

Founded 2008 2003 1927 2009 2004 1998 1976 Per Year $ $3,5B $2,8B $0,5B $8,3B $23B $22B $17B

Facebook grew 4500% faster

than Volvo

@tahitahi

GDP$450B

For each new metric (quality, cost, repairability, retention, churn, profit)

We create dedicated structure (incentive, role, process, system, report)

Complicatedness = cause of unproductively

Productivity stalled with new complexity of business

Process is a proxy for understanding

Responsibility: when people understand what others do + consequences of actions are apparent

Do: involve & communicate

tinethygesen.com

Move the needleYves Moriuex: 80% time in

corporations is wasted.

Is clarity, measurement, accountability actually helping you? Or more energy

on who to blame in case of failure?

Ppl put energy into what they are measure on

40-80% of a corporations energy on wasting time Is it worthwhile for the individual to collaborate

How much time do you use to measure, analyse and report. How much of it enables you to improve results?

more process doesn't create clarity, it creates complicatedness

How many metrics are above speed

@tahitahi

Activity

Action

Types of innovation: #1: Improve existing products #2: Expand existing range

@tahitahi

Incremental innovation 80% R&D

#3: Radical innovation: New products, new business models, new markets = Scalable repeatable business model

Mistakes counted as learnings Speed

Long time frame, many attempts Executive protection

tinethygesen.com

Radical innovation: new organisational values

learn change

learn change

learn change

Therefore we have to hire starters

Scalers improve, plan, forecast, judge

Starters create, invent search, experiment

tinethygesen.com

Empower rather than control Flexibility, Influence, Purpose

Incentivise collaboration

Tahiti football team

@tahitahi

CHANGE

tinethygesen.com

Everyone wants innovation. No one wants to

Good news about innovation for the rest of us

No by solitary genius No eureka moment

@tahitahi

Post-it note: a 50bn

collaborative accident

- 1968 weak glue while trying for airplane super glue

- 5y later other employee use it to for choir practice

- 4y later other employee distribute samples. 94% wants to buy

- Today: Sells 50bn a year

Principles in radical innovation1. Action and Speed 2. Understanding, not process 3. Test multiple thing, multiple

ways. Iterate 4. CEO protects innovation 5. Long term investment in people

& products

@tahitahi

COURAGE

tinethygesen.com

The hardest part of innovation is

@tahitahi

Last startup tip:

Environment impacts thinking. So change the physical space

Office of a highly innovative team is less likely to look like this...

and more like this...

everplaces.com @everplaces

@tahitahi

Think big

Thank you!

Tine Thygesen Entrepreneur & digital strategist

tinethygesen.com @tahitahi

ressources and credits

Danfoss 34mia kr 2011: http://finans.dk/protected/artikel/ECE4522557/Danfoss-tre-gange-s%C3%A5-meget-v%C3%A6rd/?ctxref=ext

1955 vs now http://www.aei.org/publication/fortune-500-firms-in-1955-vs-2014-89-are-gone-and-were-all-better-off-because-of-that-dynamic-creative-destruction/

Mærsk 338Mia Kr værd, 2015 http://borsen.dk/nyheder/virksomheder/artikel/1/300167/aldrig_har_maersk_vaeret_mere_vaerd.html

http://penge.dk/karriere/liste-danmarks-20-storste-virksomheder#slide=3

How coke does corporate innovation: http://steveblank.com/2013/11/07/lean-goes-better-with-coke-the-future-of-corporate-innovation/

Theory of the new corporate shift: http://steveblank.com/2012/12/03/the-future-of-corporate-innovation-and-entrepreneurship/

The post it not accident: http://edition.cnn.com/2013/04/04/tech/post-it-note-history/

Playdoh market: http://www.ehow.com/facts_5201549_interesting-play_doh.html

http://www.thestreet.com/story/11122700/8/17-products-that-were-invented-by-accident.html

http://2.bp.blogspot.com/_9OK0sBXPbM8/TO2zikicQ4I/AAAAAAAAALM/aR_MYFyNV44/s1600/walking%2Bon%2Btrack.jpg