Think Agile

Think Agile, How Smart Entrepreneurs Adapt in Order to Succeed, by Taffy Williams, Amacom 2014 The distance between the original idea spark and seeing product in the hands of users may be as simple as picking the right VC guys to fund the project, or it may be as complicated as mapping an elaborate market response diagram to hit all the possibilities.  But as author Taffy Williams explains, entrepreneurs maybe be inflexible in their drive and obsession, but the best ones know when to jog left or swing right – they are adaptable.

The same kind of single-mindedness, call it obsession, that brought an entrepreneur to market may not take him and his operation to long-term success.  Markets shift, patents are violated; even government regulations can step in to waylay the best laid plans.

And then there is the idea of ‘repurposing’, somehow seeing the shift with with great agility and speed and jumping over to the next challenge.  Williams notes that rigid entrepreneurs view these changes as obstacles to their success and they work doubly hard to push past them.  They may seek new markets, or update labeling and packaging.   In the early fifties, a company turned a rocket coating into a household lubricant – and we know this product today as WD-40! 

Post-It notes are also another repurposing story.  When a 3M scientist attempted to create a strong adhesive, the accidental result created a weaker one that was forgotten until another 3M employee wanted a better way to mark pages in his hymnal – and boom! The Post-It note, with just enough stickiness, was born!

The reader will find it interesting to note that the author dedicates pieces of two+ chapters to entrepreneur inflexibility – how to recognize and move with it.

Finally, Williams’ four key trends forecasting developments over the next 5 – 10 years offer new entrepreneurial opportunities and milestones:

1.      Continued changes in healthcare

“Obamacare is just the beginning.”   Expect to see tightening of regs covering reimbursement.  Watch for large pharma research budgets to drop and a number of major patents will expire in the next 5 years, which will fuel generic product growth.    Watch for a variety of genetic tests to come to market, including gene replacement!

2.      The growing need for better electronic security

Target, American Express and other retail hacks are just the beginning of disruptive electronic events.  The security firms that handle high-level government security will continue to see their stocks rise and the consumer security marketplace tries to keep up.

3.      The need for better methods of crop modification

Better disease and drought resistance will continue to impact food production – witness the Central California Coast region during drought seasons.  Although genetic modification has detractors, this area will continue to be pursued, especially for third world economic interests.

4.      Nanotechnology

The end of Moore’s Law, Google glass, nanotech surgery and implants, nano car batteries.  Entrepreneurs who generate a producible nano replacement for big and clunky have a ready audience.  Part of the nanotech challenge is producability.

Williams' advice to build and maintain flexibility in the creative thinkers, whether they are new product entrepreneurs, or change agents within a willing but frozen company, offers readers a refreshing look at good new movement.  Considering the boring repetition of The Big Whine “change is hard books”, what Williams has given us is a readable, pleasant look at thinking way out of the box.  Entrepreneur partners, Boards, funding experts, R & D operations will find Williams’ counsel valuable and thought-provoking.