Pivot: How Top Entrepreneurs Adapt and Change Course to Find Ultimate Success

Pivot: How Top Entrepreneurs Adapt and Change Course to Find Ultimate Success

By: Remy Arteaga (author), Joanne Hyland (author)Hardback

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A proven approach to achieving entrepreneurial success in new corporate ventures and startups Every day, business and corporate startups take action based on assumptions. Yet these assumptions are based largely on guesswork that leads to everything from costly mistakes to the failure of ventures. Fortunately, there are ways to overcome these issues and excel in your business endeavors and this book will show you how. Engaging and informative, Pivot provides entrepreneurs with practical guidance for achieving success in corporate ventures as well as new startups. Based on more than fifteen years of academic research and many more years of experience in business and corporate startups, this book skillfully addresses topics ranging from resources and organizational uncertainties to the scope and scale of new business opportunities. Reveals how to successfully conceptualize new business opportunities, pivot as required to experiment with these opportunities, and accelerate to the marketplace Captures the capabilities needed to quickly build a business by understanding and systematically reducing uncertainties from market landscape and technology to talent and organizational positioning The digital component of this book includes a world-class strategic innovation methodology that is in demand from corporations worldwide Written with today's serious entrepreneur in mind, Pivot will provide you with the tools you'll need to get ahead of the competition and achieve consistent success.

About Author

Remy Arteaga has more than twenty years' experience in entrepreneurial, innovative, and strategic roles. Remy began his career with GM, where he was part of an internal consulting group, the sole mission of which was to change the way GM did business. There, he developed ideation, customer needs, and competitive analysis business methods that were deployed throughout the company. Following GM, Remy spent several years as an IT consultant before launching his first startup. Over the next 20 years, Remy started up five successful startups in varied industries, from medical devices to software. As COO and founder of Extreme Interactive Media, Inc., he built the company into the top competitor in its media space. In 2007, Remy was named CEO of DualAlign LLC, an Albany, New York based technology startup focused on computer vision software solutions. Most recently, Remy served as the Program Director of the Entrepreneurship Center at Rensselaer Polytechnic Institute. Joanne Hyland is President of the rInnovation Group (rInnovation) and former Vice President, New Venture Development, at Nortel Networks. As a Founding Partner in rInnovation, Joanne works with major corporations across diverse industries in the U.S., Canada, Denmark, Germany, and elsewhere to link innovation with strategy and to develop systems, leadership and culture capabilities that drive growth and corporate renewal. Joanne speaks regularly on topics related to innovation and corporate entrepreneurship and is/has been a member of the MBA and executive education faculties at Babson College, the Business Institute in Denmark, the Danish Technical University, MIT, Rensselaer Polytechnic Institute, Stanford University, and the Tata Management Training Center. At Nortel Networks, Joanne and her team founded its internal venturing program, a multimillion-dollar investment fund that resulted in twelve business startups, one of which, Bill Me Later (R), reached close to a billion-dollar exit in October 2008 when it was bought by eBay/PayPal.


List of Trademarks xiii Acknowledgments xv Introduction: Is There a Better Way? xix PART I THE TALE OF TWO ENTREPRENEURIAL WORLDS 1 CHAPTER 1: Pedal to the Metal 3 A Little History 3 Traditional Management Tools Fail Entrepreneurs 4 Why Startups Fail 7 Origins of the Pivot Methodology 8 Notes 10 CHAPTER 2: Innovation is Bringing Discipline to Chaos 11 Plant = Discovery; Pivot = Incubation; Propel = Acceleration 11 Introduction to the D-I-A Model 13 If Only I Had Known Then What I Know Now. . . 15 Innovation Defined in the Corporate Setting 17 Beyond Invention and Creativity 18 Emerging Management Discipline 19 Innovation Definitions 21 Common Language and Mind-Set 23 Navigating the Culture Divide 24 It s All about Uncertainty 25 Uncertainty versus Risk 25 Uncertainty Types: Technical, Market, Resource, Organization 26 Innovation Continuum and Uncertainty 27 The ABCs of Innovation Uncertainty 27 Notes 29 CHAPTER 3: The Corporate Entrepreneur 31 An Examination of the Definition 31 An In-Depth Look at Corporate Entrepreneurship Models 33 Model One: Intrapreneurship 34 Model Two: Arm s-Length Approaches Corporate Venture Capital and External Corporate Incubators 35 Model Three: Internal Venturing Spin-Ins and Spin-Outs 36 Model Four: New Business Creation Inside Corporate/R&D or Established Divisions 38 Model Five: Open Innovation Hybrid Approach 39 Model Six: An Innovation Function Institutionalizing Corporate Entrepreneurship 40 A Brief Look at Academic Research 42 A Look at Corporate Culture 43 Personal Experiences 46 Notes 52 Additional Notes 53 CHAPTER 4: So, You Want to Be an Entrepreneur? 55 Swinging for the Fences 56 The Academic Side 59 Personal Experiences 63 Notes 67 CHAPTER 5: Entrepreneur and Corporate Entrepreneur: Framing the Perspectives 69 Comparing Entrepreneurs 71 Differences between Entrepreneurs and Corporate Entrepreneurs 71 Differences in the Operating Contexts 72 Progress in Understanding and Effectively Executing the Two Different Types of Entrepreneurship 74 Notes 76 PART II PLANT = DISCOVERY THE BUSINESS VISION 77 CHAPTER 6:Discovery Attractiveness of the Business Opportunity 79 Discovery Principles 81 Discovery and Open Innovation 83 Discovery Progression: Capturing Innovation Opportunities 85 Opportunity Recognition 85 Application Generation and the Business Vision 89 The Discovery Toolkit in Brief 92 Standard Tools 93 Idea Uncertainty Assessment Tool 93 Genesis Pad Opportunity Description 93 Opportunity Screening Criteria 96 Opportunity Potential Questions 97 Uncertainty Identification Checklist for Discovery 99 Opportunity Stakeholder Positioning Steps 99 Plant or Discovery Value Pitch 99 Advanced Tools 104 Words of Caution 107 Plant Your Value Pitch: Making the Transition to Incubation with Your Opportunity Concept 107 Notes 109 CHAPTER 7: Opportunity and the Entrepreneur 111 Opportunity Recognition 112 Technology to Market Opportunity 114 The Challenge for Universities to Commercialize Technologies 116 The Big XYZ 118 The Value Proposition 119 The Positioning Statement 121 Notes 122 CHAPTER 8: Entrepreneur and Corporate Entrepreneur Perspectives: Pursuit of Opportunities 123 Getting from Idea to Opportunity 123 Attracting Attention 125 Note 127 PART III PIVOT = INCUBATION THE MISSING LINK 129 CHAPTER 9: Incubation Discipline Together with Chaos 131 Incubation Principles 133 Incubation Objectives 136 Incubation Activities and Processes 137 Incubation and Living With Chaos: The Learning Plan 142 Short, Quick, Inexpensive Learning Loops 143 The Learning Plan Methodology 144 Dimensions of Uncertainty 148 Learning Loop Development Process 152 Initiating a Learning Loop 152 Evaluating Learning Outcomes 153 General Guidelines 153 Notes 155 CHAPTER 10: Early Market Engagement: Business Concept Options 157 Incubation Progression: Market Learning and Business Model 158 Market Learning 160 Business Model 164 Market Development Considerations 166 Learning versus Product Prototype 166 Market Entry Approach 167 Forget about Finding the Killer Application 167 Be Out There 168 Move from Office to Market 168 Market Development = Market Learning 169 Follow the Long and Winding Road 169 Innovation Roles 169 Building the Team 169 Success Depends on People 171 The Incubation Toolkit in Brief 173 Standard Tools 173 Learning Plan Design Template 173 Uncertainty Identification Checklist for Incubation 174 Technical and Market Concept Testing Approaches 174 Technical and Market Concept Testing Outcomes 176 Genesis Pad Solution Description 176 Transition Readiness Questions 177 Pivot or Incubation Value Pitch 179 Advanced Tools 180 Learning Approach Value and Coaching Requirements 182 Accelerated Learning to Achieve Faster Results 182 Consistent and Timely Coaching Required 184 Pivot to Your Evolved Value Pitch: Making the Transition to Acceleration with Your Concept Proposal 185 Notes 187 CHAPTER 11: Business Experiments 189 Knowledge Construction 190 Define Assumptions 194 Define Markets 196 Define CTA and Analytics 198 Define Product 200 Note 201 CHAPTER 12: Validated Learning = Knowledge 203 Business Model 204 Start Executing Experiment 206 Execute: Product, Market Group, and Call to Action (CTA) 207 Execute: Assumptions and Analytics 208 Execute: Confidence, Results, and Knowledge Loop 209 Business Plan 212 Notes 216 CHAPTER 13: Entrepreneur and Corporate Entrepreneur Perspectives: Incubation and Hypothesis-Driven Learning 217 Learning Is the Antidote to Uncertainties 218 Learning How to Learn 219 Pivot Startup Methodology and Learning Plan 220 Making the Case for Investment 221 PART IV PROPEL = ACCELERATION THE BUSINESS RAMP-UP 223 CHAPTER 14: Acceleration Courage to Invest 225 Acceleration Principles 226 Moving from Uncertainty to Risk 226 Moving from Experimentation to Development 227 Acceleration and the Phase Gate Process 228 Integrating with Product Development 229 The Acceleration Toolkit 232 Standard Tools 232 Resource and Organization Alignment Plan 233 Market and Technology Development Integration Plan 233 Propel or Acceleration Value Pitch 235 Advanced Tools 235 Propel Your Value Pitch: Making the Transition to Operations with Your Business Plan 236 Notes 237 CHAPTER 15: Preparing for Growth 239 The Startup Ecosystem 241 University Ecosystems 244 A Time to Scale 246 Notes 249 CHAPTER 16: Entrepreneur and Corporate Entrepreneur: The Challenges of Growth 251 The Ecosystem 252 The Laws of Diffusion and Resistance 253 Scaling 255 Balancing TMRO 256 About the Authors 257 About the Academic Contributing Authors 261 About the Companion Websites 265 Index 267

Product Details

  • ISBN13: 9781118559710
  • Format: Hardback
  • Number Of Pages: 320
  • ID: 9781118559710
  • weight: 520
  • ISBN10: 1118559711

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