The Startup Way: How Modern Companies Use Entrepreneurial Management to Transform Culture and Drive Long-Term Growth

by Eric Ries

These details are not essential. What matters is that the organization does the following: Assigns responsibility for the entrepreneurship function to somebody (too many orgs have nobody). Gives these people real operating responsibility instead of designating them merely as futurists or instigators (as too many “chief innovation officers” are). Builds a career path and a specialized performance development process for entrepreneurial talent (producing a common standard that can be used across the pillars, no matter which function or division is affected). Facilitates cross-training of entrepreneurs across the pillars. (This is why VCs who have had real-world operating experience as founders are so highly prized, though I should note the many VCs who have succeeded despite not having it. What matters is the mindset, not the résumé.) Offers training, mentorship, support, coaching, and best practices designed to foster excellence in entrepreneurship across the organization. Somewhat counterintuitively, takes responsibility for educating the non-entrepreneurs in the organization, who, though not necessarily acting as drivers of change, will still need to adopt a more entrepreneurial way of working. Gives entrepreneurship a seat at the table when the other functions—especially gatekeeper functions—are setting company policy. This is incredibly important for finance, legal, HR, and IT in particular.