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Of big brands, start-ups and lessons learnt
There are many lessons that big brands can learn from start-ups. Here are five.
Disruption is a deadly weapon that start-ups have in their armoury. This disruption can creep up and turn the big brand’s world upside down. In fact, big brands and agencies have been on the losing side of disruption as young, nimble companies have transformed entire industries. To navigate change and grow, brands will have to start thinking more like beginners instead of experts.
Among the many lessons that big brands can take away from start-ups, here are the five most important ones.
Turn defence into offence: Playing it safe does not always work, especially when there is a start-up lurking on the horizon
Integrate, don’t isolate, entrepreneurship: Big brands need to work to re-create more widespread and inclusive culture of adventure that demands exploration of fresh ideas
Streamline internal process to impact external market: Big brands should try to focus on removing unnecessary shackles
Collaborate with rather than validate consumers: Big brands sometimes need reminding that, today, brands are what consumers say they are, not what brands say they are
Mix experience with youthful exuberance: If big brands want to stay relevant as innovators, they will need to adopt more of a beginner’s mind.