Large companies behold with fascination the innovation speed and creativity of startups. In order to take advantage of the benefits of a lean, agile and innovative working method, we use the mm1 Corporate Lean Startup process model to demonstrate a path to increase innovative strength, decrease investment risks and achieve a cultural change towards an agile and customer-focused organization.
The "mm1 Corporate Lean Startup" process model uses four phases to illustrate how large companies can implement their creative business ideas faster and more streamlined than before and, at the same time, master the transformation into a strong, customer-focused and agile organization. It begins with the creation of an environment to promote creative and innovative ideas in a corporate context. The subsequent phases show how employees develop and validate these ideas into full-fledged business models by using methods from the Lean Startup universe. To that end, mm1 Corporate Lean Startup combines the agile procedure from classic Lean Startup with a Stage Gate procedure. This creates the appropriate, structured innovation process with agile elements and reduced risks for large companies. There are also parallels to established collaborations between startups and venture capital firms.
“The fast pace of many markets, the customization of customer needs and increasingly shorter product life cycles force companies to offer innovative products and services in increasingly shorter intervals," explains Volker Scholz, managing partner at mm1. "Conventional innovation processes are too inflexible for this purpose. Corporate Lean Startup can also show large companies an approach on how they can swiftly validate their innovative ideas in a streamlined fashion and develop them if they succeed. An innovation and customer-focused corporate culture is also created nearly automatically."
Download your personal copy of the mm1 Corporate Lean Startup poster free of charge.