Are big corporates a big backwater?

I am lucky enough that I get to see and work with people in both business worlds, the corporate and the entrepreneurial. The more I do it however, I wonder, is corporate the big backwater?

I am sure that there are fantastic exceptions to this, such as Google and some retailers such as Boost Juice. But the differences are often stark. These are a few of the most common, and most frightening differences:

1. A sense of urgency – when there are lot of floors between you and a customer, it is kind of hard to hear what they are saying. Same goes with the finance department.

2. Spending – A bank recently accidentally transferred $7.8million to customers. I think a smaller organisation might have noticed the extra zeros.

3. Change – 1 person making a decision is (usually) faster and more feasible than layers of decision maker.

This is not earth-shatteringly new – but I feel that the gap is getting greater, and the risk of disconnecting with the marketplace more so than ever before as web-based or micro-businesses are taking off at warp-speed. I recently had conversations with several well established global consumer brands and realised that for all the budget and talented people, their system was continuing to drive them to do the same research, NPD and promotions that they had done in the past. A little more digital dazzle (if you’re in Kids), but essentially doing the same thing, in the same way, as it has been done since Kotler.

I realised that those brands and organisations that used to be a dream to work for may have moved from being the fast track, to the slow wade.

To get you started on moving back into an entrepreneurial frame of mind, here are a few thought starters:

• Get with the start-up mentality with 13 tips from Paul Graham
• Read What Would Google Do?
• Go to an entrepreurial networking event and start to surround yourself with an alternate mind-set.
• Approach someone you admire in a smaller business, profess your admiration, buy them coffee and ask how they would change things?
• Get a genuine change expert involved.
• Talk to your customers. And I don’t mean do a survey. I mean YOU. Get on the phone or in the store.
• Got some like-minded peers – form a “no to brackishness” group to meet for beverages of some description once every couple of weeks.
• Form an internal group / IM group / forum with these people – and keep the conversation buzzing.
• Stop, and consider what YOU really think. Radical, I know…but there is a corporate group-think.

What have you done to shift your backwater? Even if it is forming a faster channel in the middle, it’s still movement.

flicker credit:farleyj

(27 May, 2009)