What every business can learn from young entrepreneurs (publ)


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For my second book I took a look at a number of young entrepreneurs - what they are made of, what trends are they working on, etc. In this presentation I discuss what I learned from them and how these learnings could (and should) be applied to traditional businesses as well (in order to attract and retain young innovative talent).
Of course it's better to have the narratives along, so don't hesitate to get in touch if you'd want this presented 'live' at one of your events...

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What every business can learn from young entrepreneurs (publ)

  1. 1. What every business can learn from young entrepreneursfrederic de meyerfounderinstitute for future insightsfrederic@i4fi.comwww.i4fi.comwww.fredericdemeyer.com
  2. 2. if you want to know the future…look at your children
  3. 3. Much of what I will tell you is inspired by these guys Web entrepreneurs Disruptive business models Mobile Social entrepreneurs
  4. 4. What do these entrepreneurs have in common? Start of career 20 yrs
  5. 5. What has changed?
  6. 6. This constitutes a huge challenge…More youngsters become entrepreneurs + GenY more mobile and demanding + Talent gap Innovation Create the right Competitiveness: Leanness environment and organization War for talent
  7. 7. How to address this challenge Based on the learning from young entrepreneurs: • be very very thoughtful with new ideas • create a co-working environmentCreate the rightenvironment and • cherish failuresorganization
  8. 8. So you think you value new ideas?
  9. 9. The typical lifecycle of an innovative idea in the corporate world Idea generation Idea selection Idea celebration
  10. 10. The typical lifecycle of an innovative idea in the corporate world The caveats: • Not all the good ideas get elected / implemented • The least sensational ideas don’t get a chance • Decision criteria often not clear / arbitrary => Most of the time this is demoralizing employees !
  11. 11. Let’s give this an entrepreneurial twist Give anyone in the company a voting right‘pitching’ ideas from Turn the idea generators intoanywhere within the intrapreneurs !organization, trueentrepreneurial style … or even better: ‘crowdfund’ the ideas
  12. 12. Do you have the rightenvironment to nurture innovation?
  13. 13. How these entrepreneurs deal with their shortcomings Co-founder Co-working Mentoring Business Founder Angels Institute Twitspark v v v Engagor v Shallibuy v v Carambla v v v Tapcrowd v v v BoI v v Outspot v Brainspot Ecoworks v Youbridge v v CTG v
  14. 14. So, based on this, why not…Stimulate ideas that were Stimulate co-working Stimulate project-based‘co-founded’ across spaces across divisions mentorshipdivisions
  15. 15. Failure is not an option ! …or is it?
  16. 16. Even the best sometimes fail …or pivot
  17. 17. Don’t underestimate the power of failure…
  18. 18. Don’t underestimate the power of failure…
  19. 19. Don’t underestimate the power of pivoting
  20. 20. Wrapping up• failure is not only an option, it’s a must… because that’s the way these young people innovate• create an environment of co-working, co- founding and mentorship because that’s the way they deal with their shortcoming• be serious about the ideas in your company because that’s the way you will keep them motivated
  21. 21. Some homeworkHow would this advice from young entrepreneurs apply to your company? • If you feel you have everything under control this just means you’re not going fast enough and that you learn nothing; • Check regularly if you are ashamed of what you delivered six months ago. If this is not the case it means that you didn’t improve; • Follow your passion. Do what you are good at and delegate all the rest; • Include different internal and external stakeholders in your ideas and strategy; • Be different; • Have fun!
  22. 22. The future cannot be predicted …but it can be made ! (ancient African saying) www.i4fi.com www.fredericdemeyer.com additional questions: frederic@i4fi.com
  23. 23. Discover our services… ° thought-provoking speeches for your strategic planning session or industry event ° training on how to manage a megatrend exercise in your company ° assist you all the way in conducting an in-house megatrend exercise ° audit your business in how future-proof you –and your competitors- are in the light of megatrendswebsite www.i4fi.comblog www.fredericdemeyer.commail frederic@i4fi.comPhone +32 478 68 13 08for useful long-term planning tools: http://www.i4fi.com/useful_tools.html
  24. 24. Are you prepared to make the maximum out of long-term trends? “Frederic offers a unique insight of how global changes translate into new business opportunities. This book is an essential tool for any future-oriented manager or entrepreneur and anyone involved in innovation strategies” Philippe De Ridder, co-founder, Board of Innovation “Designing and implementing a good strategy is quite a challenge. In an increasingly complex world, it is becoming increasingly difficult to recognize the core from the noise. This book on megatrends will help you do this. It will give you the necessary insights to focus on the themes that are crucial to the future of your company. A must read!” Jeroen De Flander, co-founder, The Performance Factory, author of Strategy Execution HeroesIn English onclick here “This excellent book is a comprehensive overview of the major trends and also offers a methodology to better assess the future reality and master its consequences. The author provides an essential guide for any strategy exercise” In Dutch at Peter Corijn, Vice-President, Procter & Gamble click here
  25. 25. What everybody can learn from young Flemish entrepreneurs (in Dutch) “Dit boek geeft een knap inzicht in de ideeën, de personen en de ambities van jonge starters, en ik hoop dat het nog meer mensen goesting geeft om eraan te beginnen.” Bart Becks, Founder SonicAngel, FilmAngel en Angel.me, Voorzitter IBBT “Starters hebben het voordeel dat ze in een volkomen ander universum kunnen denken. Ze kleuren niet zozeer buiten de lijntjes, ze trekken gewoonweg nieuwe lijnen in niet eerder verkende dimensies.” Jo Libeer, gedelegeerd bestuurder Voka, Vlaams netwerk van ondernemingen. “Ik ga ervan uit dat zowel dit boek, als al onze acties, van onze jongeren slagkrachtige ondernemers zal maken.” Philippe Rogge, General Manager Microsoft België en Luxemburg “Een bemoedigende, inspirerende staalkaart van wat reilt en zeilt binnen jong ondernemend Vlaanderen. Een impliciete oproep tot meer verantwoordelijkheidszin en trendbreuk in "risicoschuw Vlaanderen.” Filip Tack, Founder en Senior Vice-President, Nomadesk “De voorbeelden in dit boek tonen aan dat ondernemerschapszin welNow available at degelijk aanwezig is bij jongeren. En wie weet wel nog meer dan bij voorgaande generaties.Ik hoop dat velen zich kunnen inspireren aan declick here positieve voorbeelden in dit boek.” Caroline Ven, Gedelegeerd Bestuurder, VKW