Corporations are desperate to overhaul their culture and the perception that they are giant, bureaucratic dinosaurs too slow to react in a rapidly changing business landscape. Many are trying to be more innovative and agile, like a startup. One easy way to achieve this goal is through partnering with or acquiring a startup. Corporate venture capital (CVC) now makes up 25 percent (~$18 billion) of all venture capital dollars in North America.
The Startup Gold Mine reveals how the world’s largest and most prestigious brands make innovation decisions, including new product launches, vendor-startup partnerships, and even billion-dollar acquisitions. The book also details the ways startups can leverage corporate strengths and weaknesses for mutual benefit. Readers will learn
Author Neil Soni draws on his experience as an entrepreneur and as an external innovator with premier brands like Estée Lauder, MAC, and Smashbox to reveal large companies’ inner workings, as well as how startup founders and employees can use this knowledge to close the biggest deals of their lives.
PRAISE FOR THE STARTUP GOLD MINE
“A really useful guide for startup founders and big company executives alike. Packed with practical steps and common mistakes, this book is one to read attentively and keep handy for future referencing.”
--Maria Thomas, former Etsy CEO, SmartThings CMO
“The Startup Gold Mine is THE playbook for getting your startup-corporate deals across the finish line. Every founder needs to read this!”
--Justin Mares, founder of Kettle & Fire, coauthor of Traction
“Over the last decade, big companies have completely changed their approach to innovation, with startups at the center of those efforts. The Fortune 500 are turning to startups for innovation across every facet of their business, ranging from marketing and sales to customer service and logistics. Gone are the days when ‘no one ever got fired for buying IBM.’”
--Dave Knox, author of Predicting the Turn, cofounder of The Brandery, CMO of Rockfish
“A productive relationship with the right corporate partner can unlock years of growth for a startup. On the other hand, there are numerous pitfalls along the way that can have you running in circles. The principles in The Startup Gold Mine give founders the proper framework to navigate the startup-corporate intersection to get their deal done.”
--Sean Ammirati, partner at Birchmere Ventures, author of The Science of Growth
“Giftology will get you in the door. The Startup Gold Mine will help you close the deal. This is a must-read book for anyone selling into large organizations!”
--John Ruhlin, author of Giftology, founder and CEO of the Ruhlin Group
“I’ve been working with startups in rapidly growing and evolving industries for over a decade. The principles Neil outlines in The Startup Gold Mine are spot on and essential reading for any founder looking to grow his or her business.”
--Chris Chaney, founder, president, and owner, Infinite Esports & Entertainment
Neil Soni has built, grown, and created new ventures – both within the world’s largest brands and as an independent entrepreneur. Neil is currently the Founder & CEO of Unlimited Brewing Company, the world’s first platform for customizing and personalizing beer. He also runs a growth and innovation consulting practice, which helps startups and Fortune 500 companies partner and invest in cross-industry technology and commercial opportunities. Since April 2015, he has been working with The Estée Lauder Companies (ELC) to start and build their Global External Innovation function. Prior to these endeavors, Neil led the growth team at MomTrusted.com, a social marketplace for early education with over 3 million users, and founded CollegeZen, a social platform for high school students, peer mentors, and colleges. The Bill & Melinda Gates Foundation named CollegeZen one of the worldwide winners of the College Knowledge Challenge.
This Element is an excerpt from The Truth About Starting a Business (9780137144501), by Bruce R. Barringer. Available in print and digital formats.
Minimizing the cost of launching your business--and then finding the money you do need.
Most prospective business owners worry about whether they’ll be able to raise sufficient funds to start a business. It’s a legitimate concern. But the same business might cost one person $10,000 to start and another person $25,000. The amount needed depends on how a person thinks about money, and how frugal and resourceful that person is. Skimpy finances can be a blessing, not a curse....
Known for his honesty, integrity and powers of persuasion, Herjavec never fails to reach for the highest rung on the ladder. In The Will to Win, he shares some of his own secrets for greatness, whether it’s knowing when to be aggressive (and when not to be), when to talk and when to listen, or when and how to ask the right questions. And he reminds us that we all have the same 24 hours a day in which to maximize our future—it’s how we spend those hours that counts.
Whether you are seeking to build the next big communications technology company, become the most respected teacher in your education system or make a lasting impact as an artist in your field, the most important decision you can make, according to Herjavec, is to reject mediocrity. Drawing on anecdotes from his own life and from the lives of celebrity friends such as Oprah, Georges St-Pierre and Celine Dion, he delivers valuable lessons that will guide readers to greater happiness and success.