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Entrepreneurs – A completely different breed of Intrepreneurs

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<p> Big companies know that business as usual is a deadly trap. Working a responsible and sustainable business in a red ocean, where a product position is characterized by recognized needs and existing technology will sooner or later lead to downward spiral profit margins. </p>
<p> When society is drained for capital, its ability to promote change diminishes and cadaverous rigor sets in. Continuous disruption, not sustainability, is the only strategy to ensure long-term survival. </p>
<p> Disrupting a well-run business is often culturally difficult, and historically companies have relied on the facilitation of "skunk" teams. These small teams are composed of experts, the best of the best, working under the radar to present revolutionary innovative offers. </p>
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Some of the best-known skunk work teams include several Lockheed fighter jets, as well as Apple's Macintosh, iPod, and iPhone. Protecting the skunk work teams from the political games of the rest of the business requires support and direct engagement with the CEO, as well as the physical isolation of the "mother-ship". Both of these requirements are expensive and difficult to maintain in practice.

The latest innovative innovation models establish several startups and / or acquire promising complementary startups. The ownership of these startups can then be partial or complete, as well as with or without partners. The management of these startups can be more or less autonomous and requires an entrepreneurial team, whose members are very different from the usual internal and intra-company teams.

All entrepreneurs seem to be passionate and risky, but studies show that their counterparts are too. A design research project from Copenhagen Business School in the summer of 2016 compared two parallel courses – one on integrated design for established companies, the other on design-motivated startups. . Research has revealed that what sets entrepreneurs apart from entrepreneurs is three personal traits and one key priority – a focus on design.

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Indeed, entrepreneurs and entrepreneurs take the same amount of combined risk (market risk x technological risk x risk of execution). This is about the same level of risk that venture capitalists usually take when they finance a new venture. However, their variation in risk varies enormously – entrepreneurs are everywhere on the map while entrepreneurs converge on a medium. This variation is exactly what investors should look for when building a portfolio of startups.

While entrepreneurs and contractors consider themselves equally high in self-management and the variation is also the same, an evaluation by external experts revealed that entrepreneurs were 20% less efficient than entrepreneurs. This difference in external point of view may be due to the fact that contractors have fewer explicit requirements and instructions from contractors.

Previous studies on self-management have shown that it is strongly related to adaptability and social networking, with an emphasis on design. You have to be a true leader, that is to say, proactive, responsible and responsible. These are essential characteristics for forming coherent, coherent values, beliefs, vision and mission. What is then required is the translation of these characteristics into a feasible strategy with clearly defined goals and objectives.

Entrepreneurs are surprisingly more independent and a little more isolated compared to entrepreneurs. Entrepreneurs have been shown to engage thirty-seven percent less with their peers than contractors.

Although it must be a little dazed to perform at the highest level, coupled with the increased variation in performance throughout the process of new business development, this trait can also lead to a catastrophic failure since # 39, it is a binary game.

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In addition, entrepreneurs consider themselves to be fifteen percent more than entrepreneurs, the only predictor that strongly influences performance.

When acquiring startups, the team is the most important factor. Ensure that founders and executives possess the aforementioned personal characteristics, which can be assessed with the help of the appraisal tool from the founders of Applied Design Science.

Going out of the Red Ocean and joining the Maverick Shore area, without going up to Kamikaze Country, it's a mix of art and science. However, there are now useful steps to navigate the field, such as the quantification of design, design and risk assessment, and evaluation of founders.

In the last decade, entrepreneurs have applied a "Just do it! approach, hoping that something would stick to the wall. Now, with a new body of evidence-based methods pointing toward achieving better results, the field has matured – doing "Evaluate before acting" the new mantra.