This Business News Story Was Uncovered By Us From: http://www.youngupstarts.com/2019/03/27/dont-just-think-like-a-startup-execute-like-one-too/
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by Winson Wong, Head of Business Development for Connected Solutions
I’m sure you hear a lot of people in corporate talk about design thinking, user-centric design, innovate like a startup in order to move faster and challenge the status quo. You attend conferences, visit startups and read books. This is all great but at the end of the day, how do you execute like a startup within a big company?
Sure, you probably have a ton of ideas, but how do you get started? Here are a few thought starters on getting started to think and ask questions like a startup in a company.
1. Start small, think big.
The main question you should ask yourself is, what is the consumer problem that you’re trying to solve here? Then ask yourself, are consumers willing to pay to have this problem go away? How much and how often are they willing to pay?
It’s rare for a startup founder to hit the ball out of the park on their first try. They learn, pivot and adapt. Similarly, get started somewhere then constantly do user research, test, re-build and then optimize. Continue to test lots of ideas before you find one that you’re passionate about and have legs to take to the next level. Every change that you do at the start of any new business should aim for step-change in conversion or retention.
You shouldn’t tell yourself that this is a pure learning experience and if it doesn’t work out, “I’ll just go back to my job and continue to move up in the company because they’ll see this as innovation and risk-taking”. Whilst it is a great learning experience, never fall back on your laurels, make sure you set yourself stretch quarterly goals and measure them. Google’s OKR model is one way to do this.
Treat your executive sponsors like your investors.
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