The role of a CEO in a new startup is filled with
challenges. The new CEO must be willing
to learn from his mistakes and from others.
Eric Ries writes, “startup success is not a consequence of good genes or
being in the right place at the right time.
Startup success can be engineered by following the right process, which
means it can be learned, which means it can be taught.”[1]
The startup CEO must be a risk-taker as well. The critical element of risk-taking process
is exploration into the unknown. According
to Greg Gehrich, “a CEO who fosters a culture of risk and rewards will
out-innovate the competition, and a CEO who supports agile product development
methods for the entire business will grow a lean and innovative organization.”[2] Successful CEOs are usually successful
innovators. According to Gehrich, best
practices for successful innovation can be summed up in four points:[3]
1.
An innovation strategy counts
2.
Focusing on high-risk but higher-return
innovations matters
3.
Innovation leadership is central to success
4.
The CEO must be the innovation leader
The CEO must encourage and empower an innovative culture
across the company. “Innovation,
regardless of how small or seemingly insignificant, is already occurring in the
organization,” writes Dr. Oster. He
adds, “The invisible innovators already have determined how to recast imposing corporate
problems into small, tangible and quickly solvable opportunities.”[4] Recognizing and rewarding invisible
innovators could be a crucial undertaking in securing the success of a startup.
[1]
Eric Ries, The Lean Startup: How Today’s Entrepreneurs Use Continuous
Innovation to Create Radically Successful Businesses, Random House Digital,
Inc., 2011, 3.
[2]
Greg Gehrich, Build It Like a Startup: Lean
Product Innovation, California: Greg Gehrich, 2012, 91.
[3]
Ibid, 91-92.
[4]
Gary Oster, Emergent Innovation: A New Strategic Paradigm, Journal of
Strategic Leadership, Vol. 2, Iss. 1, 2009, pp.40-56
No comments:
Post a Comment