Build a management system that embraces entrepreneurship and uncertainty, counsels business management guru Eric Ries in a video interview with GE’s Beth Comstock.
We’re in an age when just about every new commercial enterprise proudly touts itself as a startup. But the fact is that a startup means something more than a company that has recently opened for business. It is shorthand for an ethos that the organization holds dear: speed, flexibility, a willingness to be daring and experiment.
But those aren’t qualities that automatically come when you hang your shingle outside the door. They require focus, commitment and discipline, the foundations of being entrepreneurial. And that mindset isn’t just for three people in a garage working long hours to bring the next great idea into reality. Established century-old companies and multinational giants can also use a big injection of that agile spirit to stay at the head of the pack.
“Every company seems to be a startup these days — or at least they try to act more like one,” says Beth Comstock, the Vice Chair of GE. “But it’s not enough ‘act,’ it takes hard work to transform a business.”
In the video below, Comstock talks with Eric Ries, a Silicon Valley entrepreneur and author who pioneered the Lean Startup movement. Ries discusses how businesses of any size or age can become faster, smarter and more customer-focused in a world of greater competition.
(Top image: Eric Ries at Lean Startup London, Courtesy of Betsy Weber)
Eric Ries is an entrepreneur and author of the New York Times bestseller, “The Lean Startup.”