Beat the 3% chance: Building new businesses inside the company with Frank Mattes

Frank Mattes is a thought leader, startup mentor, and expert in corporate business-building. He is the founder and CEO of Lean Scaleup LLC, which co-created the Lean Scaleup Framework, the best practice for overcoming corporate scaling-up problems and creating profitable businesses. As an advisor and mentor, Frank helps corporations accelerate the learning cycle in building new businesses, allowing them to create new revenue streams and move swiftly on their transformation journey. He is the author of the books, Lean Scale Up and Scaling-Up Corporate Startups.

Frank joins me today to discuss corporate business building, its challenges, and how to overcome them. He explains why only a small fraction of companies succeed in bringing new business models into the market. He describes the two value-creation systems that exist under one corporate roof. He outlines three approaches to overcoming the odds of creating new businesses in a company. He underscores how building new businesses requires solving systematic problems. Frank also highlights why achieving success in building new businesses inside a company involves making two incompatible factors work together.

 “The success rate of building sizable, profitable businesses is 3%. It’s not that companies don’t know how to create new products, but it’s all about knowing how to launch new businesses.” - Frank Mattes

This week on Innovation Talks:

• Corporate business-building, how it works, and the history of Amazon
• Innovation and creating new business models
• The defined “red shirt” value-creation system
• The innovative “blue shirt” value-creation system
• The success rate of companies creating new businesses and business models
• Frank’s definition of innovation
• The Kodak vs. Fujifilm innovation story

Connect with Frank Mattes:

• Lean Scaleup
• Book: Scaling-Up Corporate Startups: Turn innovation concepts into business impact
• Book: Lean Scaleup: A proven framework for building new businesses from innovation
• Lean Scaleup on LinkedIn
• Lean Scaleup on Twitter
• Frank Mattes on LinkedIn

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