By John Middleton
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Extra info for Organizations Express
Sample text
In the article, he tells a story that gives an insight into the twenty-first century entrepreneurial mindset: ‘‘Not long ago, I gave a seminar to a group of 20 entrepreneurial CEOs who had gathered at my Boulder, Colorado, management lab to learn about my most recent research. ’’ Built to Flip is an intriguing idea. As Collins describes it: ‘‘No need to build a company, much less one with enduring value. Today, it’s THE STATE OF THE ART 47 enough to pull together a good story, to implement the rough draft of an idea, and, presto!
Give your employees a stake in the business: you may not be able to pay them much to start with so give them shares. » Pick partners who are as committed as you: to start with, a business will only be sustained by a band of believers. » Don’t be sentimental: be ready to split with your partners – often your best friends – when the business faces a crisis or a turning point. » Create products that can become ubiquitous quickly: for example by being given away in a global market, thereby attracting huge stock market valuations.
44 ORGANIZATIONS EXPRESS » Be passionate: if you don’t believe in what you are doing, nobody else will. At the outset only passion will persuade other people to back you. » Make work fun: if it stops being fun, people will not be creative. » Give your employees a stake in the business: you may not be able to pay them much to start with so give them shares. » Pick partners who are as committed as you: to start with, a business will only be sustained by a band of believers. » Don’t be sentimental: be ready to split with your partners – often your best friends – when the business faces a crisis or a turning point.