How many times have you walked down the aisle of the supermarket and saw something that made you say something like “Finally, a package that I can use in my car! I can’t believe it took them so long to figure that out.” I know I have. But the irony is, the underlying reason it often takes big companies so long to launch new products is the exact process that entrepreneurs mock, yet desperately need.
Don’t think for a second that these lumbering giants don’t understand the benefits of being first to market, innovative and creative. Many big companies have talented, entrepreneurial managers who dream of how they will launch the next great household item, in record time, galvanizing the organization behind them. (I know, I was once one of them). However, the reality in the world of the Fortune 500 (and beyond) is that they have a need to minimize risk. Continue reading ‘Small Business Planning – How to Reduce Risk Without Building Bureaucracy’ »