Big companies need you, don’t let their presence prevent you from moving forward with your ideas, designs and inventions.
How many great ideas have been crushed by thoughts like, “What if I take my product public and a big competitor just replicates it, crushing me and my idea?”
There was a good article in Entrepreneur magazine last month (Buy vs. build – Sam Hogg) that I want to summarize, in effort to promote progress rather than hesitation.
In short, big companies typically don’t build, they buy, they typically don’t innovate, rather they automate. Their shareholders demand guaranteed, successful growth, a requirement that start-up entrepreneurs can’t afford and also are not shackled by.
Innovation requires people (entrepreneurs) with wild ideas, solutions to problems and visions of a better future.
Large companies cannot afford the risk nor the time required to create something that may fail, it makes them look bad to their board and investors.
Entrepreneurs can make plans on a napkin and decisions over a couple of beers, large companies struggle to get a memo crafted in a day to call a meeting for next month.
Risk vs. reward…. it makes a lot more sense for a big business to buy a hot innovation than run the risk of trying to make it and failing, even if they have to pay a premium on the guarantee.