Page 194 - Free the Idea Monkey

How? Two words: small bites.

Small bites means:

• Trying 10 ideas in

the time it takes large

companies to roll out one.

• Using the Internet to test four

different media and creative

strategies instead of rolling out an “Entrepreneur:
expensive print campaign. The type of
• Trying four different business
models simultaneously to see which personality who is
one has legs. willing to take upon
• Working with multiple partners to herself or himself
test launch an idea to learn about
the idea and the partnership at the a new venture
same time. or enterprise
and accepts full
responsibility for
the outcome.”

• Doing all of this with a “fast and —Wikipedia

cheap” attitude.

Here is a trend worth noting. It used to be

that innovation consultancies were hired to help with ideation,

research and process. The underlying theme I see today is these

firms are being asked to help large companies move more quickly.

Said differently, leaders are focused on getting their teams out of

their own way. They want them to act more entrepreneurial.

2. Hit them when they least expect it. When was the last time

you thought about taking on a giant? Grainger, the leading global

broad-line supplier of facilities maintenance products, does about

$7 billion annually in sales. A few years back, The Home Depot

gave Grainger a scare when it spent $3.5 billion to buy Hughes

Supply, a direct competitor. By making the move, The Home Depot

was declaring war. As one might have expected, Grainger reacted

aggressively with public relations and marketing. The counter-

attack, coupled with the housing market downturn, seemed to put

The Home Depot on its heels. With the threat gone, Grainger went

back to business as usual.

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