INNOVATIVE STARTUP TEAMS DISRUPT INDUSTRY ORTHODOXY.
To strengthen their capacity for innovation, creativity and growth, to strike a balance between meeting the needs of existing customers and finding new ones, and to explore new business opportunities and models, established organizations commission internal startup teams.
By secure resources, independent authority to develop their business, and a personal stake in the outcome, startup teams find effectiveness and enhance the competitive advantage of their organisation.
A startup team’s climb up the ladder of effectiveness is promoted by a complete autonomy to develop and market new products and services within a secure, limited mandate.
A numerous chain of approval processes slows down the momentum of the creativity of startup teams. This situation also hampers the effectiveness of their scheduled experiments and inhibit the validated learning from their engagement with their customers. Impaired accountability becomes the undesirable aftermath. Keeping the chain of approvals at a minimum motivates the team to smarten up to build and ship out actual functioning products, not just prototypes. Not to mince the matter, unhealthy bureaucracy stifles creativity and proactive flexibility.
A personal stake in the outcome of their creation, actualised through bonuses, stock options and credit mentions, fires up startup teams.
A corporate culture that engenders defensiveness also stifles innovation, but a work environment tolerant of mistakes and encouraging of learning promotes it.
The capacity to create customer value by startup teams is what determines their level of productivity, and they are guided by actionable metrics tied to their hypothesis and crucial customer behaviour. Working with small batches secures to the team instant feedback that leads to optimal solutions.
Startup teams pursue innovation by building an ideal business model aimed at disrupting industry orthodoxy, launching a minimum viable product (MVP) to establish baseline metrics, and optimising its value and growth hypothesis in order to get out a novel product or service.