You’ll know Eric Ries as the author of Lean Startup. This book has become the guide for many a startup business and, indeed, entrepreneurial teams within major businesses.
In this video from McKinsey & Company, Ries explains why startups and their founders continue to freak out traditional, older businesses.
It’s not enough for older businesses to buy snazzy, innovative startups. Older businesses must innovate or else, quite simply, they will die.
Ries explains the need for every business, big or startup, to have productive failures. To a startup, this is often a daily occurrence, depending on what you’re designing. For big business, this is scary stuff.
The first three minutes of video provides genius insight that every entrepreneur will enjoy and, yet will make every big business cringe. The later half tackles innovation from within government.
And, as we’ve come to expect from Ries, he shares his wisdom and insights very readily.
Disruptive entrepreneurs: An interview with Eric Ries