…I have come to realize that the true question corporations need to ask is: “How do I get my employees to think like VCs but act like entrepreneurs?” In other words: What’s the best way to impose the challenge of complex, competing priorities on employees who must, in effect, be adroit at living with split personalities? This new frame of mind requires the corporate manager to extract the best from both worlds—entrepreneurs with a bias for action, and VCs with a bias for analysis. Elements of both are required.
Says easy, does hard.
As I’ve said before, for me the basic tension of a new venture is between the two defining characteristics of most successful startups:
- Commitment to a process of iterative refinement, engaging the marketplace open to the truth, and being mercenary about doing more of what works and less of what doesn’t.
- A team that executes with conviction, almost unreasonable in its commitment to overcome inertia and do something that hasn’t been done before.
Too much “1” and half-assed execution obscures what would work if done well; too much “2” and you miss the turn that would have made it all work.
I guess “think like a VC / act like an entrepreneur” is another way to put that, if it helps get the concept in more people’s heads all the better.
Which do you think makes the idea more clear?