For those of us who spend our days in search of the latest innovations, nothing is more exciting – professionally speaking – than spending time deeply engaged with entrepreneurs. The enthusiasm, optimism, and – yes – even idealism is palpable.
For the past few days, I’ve been immersed in that environment at Innovate!Europe, Guidewire Group’s 6-month long search for Europe’s most promising startups companies. Whether they are developing systems that measure business risk as a function of weather prediction or offer open source platforms for network management or CRM applications; whether they are confident they’ve discovered the future of rich media communications or have applied complex robotics technologies to online-connected “companions,” the 34 companies at this week’s “Master Class” give one confidence that entrepreneurship and innovation are the path through economic crisis.
As importantly, they prove that when you combine unbridled and youthful ambition with tempered and experienced mentors, you will always learn a great deal about business. Many of the things uttered on stage and in quiet conversations are proof enough of that.
Here are some of the things we heard:
Marten Mikos: The Next Big Thing is "Open Data" and "micro lending.”
Madeline Duva: "Startups always live in crisis. . . Control what you can: costs and focus.”
David Sifry: If you're looking for advice, ask for money. If you’re looking for money, ask for advice.”
David Sifry: "If you're not absolutely in love with what you are doing, your chances of failure are higher than average."
Mike Rogers: The Next Big Thing is "coupling wireless technology with social data in very vertical ways."
Barak Berkowitz:"Silicon Valley wasn't built on greed...it was built on passion. Governments must encourage people to steer to their passion.”
While Innovate!Europe is a very different program from the DEMO Conferences, the ideals of this European enterprise are no doubt born of it. DEMO is all about passionate entrepreneurs – be they in small companies or large ones – who believe in the possibilities of innovation.
I return for Europe late this week, and jump headline next week into the search for DEMOfall’s class of demonstrators and “AlphaPitch” companies. As always, the class of demonstrators represent the most compelling products to come to market this fall. The latter segment identifies great business ideas and product concepts – ideas unformed but worth of consideration – and puts those ideas front and center on DEMO’s stage. These programs, coupled by a new “concept car” exhibit of R&D projects, demonstrate the early life of any great product: far-out experimentation, product prototyping, and customer-facing product launch.
After 13 years at the helm of DEMO, I remain as excited (if only a little less nervous) by the prospect of selecting the DEMOfall demonstrating class. I’m hoping that if you’ve seen – or better yet, you are working on – the “Next Big Thing” that you will take a quick time out form whatever you’re doing now and send me an email. We’ll follow up with you quickly to set an appointment for a deeper conversation.
When I lead Guidewire Group's positioning and presentation skills workshops, I often quote Intuit founder Scott Cook, who some 20 years ago waved a pen in his hand and said, "This is our competitor." He knew that in order to win customers to the Quicken personal finance software, he'd have to create a value proposition that outstripped that of the pen and checkbook. Cook understood his competition in a way that few entrepreneurs really do.
So, think about it: what and who are you really competing against? Are they buying a product from someone else (direct competitor)? Are they solving their problem in some other way (indirect competitor)? Inertia, doing nothing, not using or buying handbags wholesale handbags designer handbags your product - that's a competitor just as surely as any company that goes toe-to-toe with you over features and functionality. In fact, in many ways, the right way to think about competitors is to examine what customers are doing in the absence of your product.
Post new comment