Continuing with our discussion on corporate innovation methodology, in this piece, I want to highlight a couple of key organizational challenges: (1) How do ideas flow into execution, (2) Where are the push backs?
Let me call out another specific point from my previous article, Corporate Innovation Management – A Methodology Discussion, that addresses the first issue.
In my interview with Jim Euchner for the Research-Technology Management journal, I said:
JE: Are these same people, if it’s a go, charged with trying to make it work?
By Guest Author Soren Petersen
A society’s progress depends upon the quality of the questions it asks itself and to know what questions to ask today in order to secure a sustainable future. >>>
Sramana Mitra: How long did it take you to hit the $1 million mark?
Shane Evans: I think we would have come just under it in 2013. In 2014, we would have been $2 million.
Sramana Mitra: In 2013, you were at $1 million revenue. At that point, what was the distribution between professional services and actual product sales?
Shane Evans: In terms of revenue, it would have been heavily professional services.
Sramana Mitra: At what point did that start to shift? At what point were you able to get enough technology that you were able to start generating product revenues? >>>
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If you are a serious entrepreneur, register to “pitch” and sell your business idea to Sramana Mitra. You’ll gain straightforward feedback, advice on next steps, and she’ll answer any of your questions. Others can register to “attend” to watch, learn, and interact through the online chat.
Over the past year, several companies have seen their valuations plummet. After years of stellar increases in valuation, some of it unjustified, the VCs have finally begun to reevaluate business models and assign justifiable valuations to companies. The process has resulted in the creation of several unicorpses*. One such story is that of India’s restaurant search and discovery portal Zomato. >>>
By Guest Author Soren Petersen
Startups tackling sustainability are now in vogue, with organic farming, clean energy and mediation platforms for the sharing-economy. Whether they are rooted in a sincere desire to improve our world or just interested in lip service remains to be seen. If the sustainability performance from established firms is any indicator – it will take a paradigm shift for any real change to occur. >>>
Sramana Mitra: Let me now ask you given the trends of your industry, what are you seeing as open problems that need addressing where new entrepreneur can build stuff around?
Scott Zoldi: I’ll phrase it in terms of problems and opportunities. From a problem perspective, there are a lot of regulations that are coming up right now in terms of usage of different types of data. In Europe, they have what they call the GDPR. It is a new set of regulations around every company’s use of data to ensure that the company has the ability to remove all data if you, later on, ask them to remove your personalized data. It has a lot of responsibility around privacy and monitoring of breach information. >>>
Sramana Mitra: I know quite a bit about that kind of work because I did a lead generation software company earlier in my career that required lots of scraping and cleaning. It’s quite complicated and it’s very domain-specific. I am very aware of how very complicated this is. Did you launch this with any financing or was it a bootstrapped launch?
Shane Evans: It was a bootstrapped launch. I brought Mydeco as an early customer, and that really helped. It wasn’t too difficult to bring in one or two other customers. We took a very small amount of funding from a friend in Ireland to pay salaries. It was a very small amount.
Sramana Mitra: Were you doing this in London or Ireland?
Shane Evans: My co-founder is from Montevideo, Uruguay. I went there for the winter. Then I came back to Ireland. I’ve been in Ireland since then. >>>