Last week, I had the pleasure of attending and keynoting Carnegie Mellon University’s Corporate Startup Lab Demo Day. My friend and mentor Sean Ammirati first shared the Corporate Startup Lab model with me in 2017 and I’ve been a fan since Day One. The idea is to bring together Fortune 500 companies with interdisciplinary teams of students to build internal startups solving problems and developing new business models.Continue reading “Corporate Startup Lab Demo Day 2019”
Startups and corporates speak a different language
- Different timeframes
- Size of deals
- Response times
- Number of stakeholders
Corporate incentive structures for successful partnerships
- How comfortable is the corporate team in innovating? If comfortable, they’ll have a higher tolerance for misses. Look at the entire portfolio.
- Companies that allow intrapreneurship give employees new outlets to thrive.
- Allow more employees to scout for deals – innovation can come from all parts of the organization.
What are the benefits of startups-corporation collaboration?
- Inside large organizations (10,000+ employees) it’s an echo chamber. They only see direct competitors.
- Need someone looking outside of direct competition. Expose the corporate team to new ways of thinking.
- Startups also get exposure to see how their tech can apply to different domains.
You can listen to the podcast on iTunes, Spotify, or your favorite podcast player. Learn more about this and other great innovation episodes on the Inside Outside Innovation website.
Make sure to grab a copy of The Startup Gold Mine at your favorite bookstore!
I’ve been a huge fan of Robert Greene’s work ever since his 48 Laws of Power was recommended by my boss back when I was a 19 year old intern at Booz Allen Hamilton. Greene’s books combine two of my favorite subjects – history and psychology – to give actionable takeaways that you can apply in your daily life.
The truth is that we humans live on the surface, reacting emotionally to what people say and do. We form opinions of others and ourselves that are rather simplified. We settle for the easiest and most convenient story to tell ourselves.
Consider The Laws of Human Nature a kind of codebook for deciphering people’s behavior—ordinary, strange, destructive, the full gamut. Each chapter deals with a particular aspect or law of human nature. We can call them laws in that under the influence of these elemental forces, we humans tend to react in relatively predictable ways. Each chapter has the story of some iconic individual or individuals who illustrate the law (negatively or positively), along with ideas and strategies on how to deal with yourself and others under the influence of this law. Each chapter ends with a section on how to transform this basic human force into something more positive and productive, so that we are no longer passive slaves to human nature but actively transforming it.
The Laws of Human Nature key takeaways listed below are my personal favorites but this book has a ton in it and I suspect different things stand out to different readers.
You can also listen to our Made You Think podcast episode on The Laws of Human Nature below:
Here are The Laws of Human Nature key takeaways:Continue reading “The Laws of Human Nature Key Takeaways”
If you watched the Super Bowl this year, you probably saw Microsoft’s heartwarming commercial about children with disabilities using an adaptive Xbox controller to play games with their friends. In case you missed it, here it is:
First of all, these kids are absolute heroes for what they are living with and somehow doing with a smile. Nothing makes you more aware of your own fragility, mortality, and good fortune than observing someone, especially a child, with a major health issue. Owen (in the commercial), for example, is only nine years old and has already had to endure 33 surgeries.
There are many forms of entertainment: movies, music, TV shows, sports, video games, board games, books, and more. It is very, very easy to dismiss all of these things as a luxury or even a waste of time. You’ve heard the argument before: “Imagine if all the money and energy that goes into the entertainment industry were put into something productive, like curing cancer”. This is a seductive, but wrong, argument.Continue reading “Entertainment Isn’t Dumb”
My good friend Sean Ammirati has started a brand new podcast called Agile Giants. The show is inspired by his work over the past few years leading Carnegie Mellon University’s Corporate Startup Lab (CSL). In Sean’s words from his Medium post announcing the podcast:
If you already are a corporate entrepreneur, want to become one or are just looking for some advice around commercializing transformative innovation, this podcast is for you.
Sean was nice enough to interview me on the podcast. Our wide-ranging conversation was mostly focused on The Startup Gold Mine but also included stories from other projects I’ve worked on, like Estee Lauder’s External Innovation team.
You can listen to the episode below or on your favorite podcast player.
The Hidden Life of Trees: What They Feel, How They Communicate – Discoveries from a Secret World by Peter Wohlleben is an eye-opening read that will have you looking at the natural world in a completely new light. If you took high school biology, you probably learned that one characteristic of plants is that while they’re alive, they are static creatures. We were told that although they adapt to their environment, they live at a standstill in the same place for their entire lives. And they certainly aren’t communicators. Well, as you’ll learn in The Hidden Life of Trees Key Takeaways, trees are actually dynamic, social, and incredibly complex creatures. The Hidden Life of Trees provides an entertaining deep dive into the alien world of trees.Continue reading “The Hidden Life of Trees Key Takeaways”
I recently had an opportunity to chat with Ryan Helms on his Hustle to Freedom podcast. It was a pretty wide-ranging conversation that included lots of background on Unlimited Brewing as well as The Startup Gold Mine. In particular, we got into how to start a business as a side hustle and de-risk it along the way. This episode should be useful to anyone interested in side hustles, beer, and problem solving.
Give it a listen and make sure to subscribe to the podcast!
Twelve Years a Slave by Solomon Northup has gained attention in recent years, thanks to the film adaptation, which won several Academy Awards. I personally loved the film and finally got around to reading Northup’s memoir, which happened to be available recently on Amazon Prime Reading for free. The book is absolutely phenomenal.
Twelve Years a Slave Key Takeaways outlines the key lessons I took from Northup’s memoir of his experience being kidnapped and made a slave in the Deep South. Northup’s account is particularly enlightening because he was a well-educated, prosperous individual in New York prior to his kidnapping and is able to convey his experience in great detail. When it was published, the book was a bestseller but unfortunately became unknown after the Civil War. It resurfaced in the 1960s during the Civil Rights movement and has since become a prominent primary source for readers looking to better understand pre-Civil War America.Continue reading “Twelve Years a Slave Key Takeaways”
A Brief History of Everyone Who Ever Lived: The Human Story Retold Through Our Genes by Adam Rutherford is a well-written, entertaining book about the journey of humanity through time. Genetics is a topic frequently discussed in popular media, at least in part because it presents discrete variables (genes) which allow comparison between individuals on a common substrate (the human genome). However, as Rutherford so eloquently presents, popular genetics encourages many biological misconceptions that are oversimplifications, at best.
Here are my A Brief History of Everyone Who Ever Lived Key Takeaways:Continue reading “A Brief History of Everyone Who Ever Lived Key Takeaways”
“Sorry, this just isn’t a good fit for us right now.”
This simple but terrifying sentence is a recurring nightmare for founders trying to close deals with corporate partners. And it’s even worse when you’ve been working on a deal for months and were banking the fortunes of your company on its success. So when you’re rejected, is it all over or is there something you can do to turn things around?
Here are some tangible next steps to take when your corporate partner says no to a deal:Continue reading “What to Do When Your Corporate Partner Says No”