Redefine “Startup”
A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty.
The principle we're discussing
You don’t need a title or newly-formed company to be an entrepreneur. The Lean Startup coins the term intrepreneur as someone building something new inside of an established business.
What differentiates the work of an intrepreneur from the pack is its practices --not its size, industry, age, or funding stage.
Case Study: SnapTax
- The company wanted to find a way to automate the process of collecting information typically found on a W-2.
- The team followed lean practices to invent a way for customers to get this information by taking a picture of their W-2 form.
- Initial Results: 350,000 people downloaded this new product within a few weeks of its launch.
It’s difficult for any individual employee to bring about this kind of change. However, any employee can act as a visionary by identifying a new source of value for customers.
Why this principle is important and matters to you
Changing our thinking to look for entrepreneurial activity vs. the state of being an entrepreneur means each of us can act lean in our own roles and jobs.
This provides practical ways to apply learnings from this Spark
Think about your customers. They may be internal to your organization, or external clients. Your mindset and approach to solving problems for your customers may deliver new ideas, with new value.
Disruption to the norm requires an intrepreneur, whose characteristics often include:
- Achievement striving
- Industriousness
- Passion
- Creativity
An opportunity to reflect on yourself and/or your team and how you can apply these insights