The Key Secret to Success
in Business. And failure
some businesses succeed and some fail under exactly the same
circumstances and in exactly the same business?
The difference is their
point of view about what a business is, and what one isnít. The difference
is that successful business owners were all
entrepreneurs, and that the vast majority of the people who go into
Venture Management vs Corporate Management
Management of the venture-building process is
fundamentally different from corporate management that is focused
on delivering the annual operating plan. Management of a new
high-growth business is built around a customer-driven idea or a
technology. It requires
entrepreneurial mindset and skills. Being first to the market is the top
priority for the venture manager.
Your core competence, the ability to move
quickly from idea to market, is a key enabler of success.
Prescription for Winning in Business
The Role Of the
It takes a smart
to take an innovative business idea into a successful
venture and achieve lasting business success.
architect is a person who
initiates new business ventures
business innovation, designs a
business model, and builds a
balanced business system for a
Case in Point Compaq
Rod Canion co-founded Compaq with Jim Harris and
Bill Murto in 1982, investing $1000 in the company Ė and promptly got of to a
slow start. The founders sketched the idea for a portable PC. Contrary to its
early advertising, the company did not spring to life immediately.
Venture capital investors felt that the product was a little too easy to do
and made Canion to go back to the drawing board. Canionís fourth or fifth idea
clicked. It was for a IBM-compatible portable. With $1.5 million in seed money,
Canion and his crew began designing Compaqís first PC in Fenruary 1982. By early
1983, when Compaq began shipping its portables, the company had raised $30
million. In late 1983 it raised $66 million more in public offering, then
finished the year with sales of $111 million.