Stephanie Keller-Bottom, Director of Nokia Innovent, discusses how companies need to collaborate to bring their products to the market. She talks about the value that entrepreneurs bring to large companies as they understand the importance of collaboration in order to leverage resources.

Transcript



One of the most important things is that we do not believe there is any company in today's market that can move quickly enough to create a product and control the market. We believe that you must collaborate today. You have to have an ecosystem of players that you will share incentive with. What that means is nobody gets a hundred percent of the pie anymore. If you're going to go to market you need to go to market with an understanding that negotiations are no longer about control. They're about collaboration. And entrepreneurs understand that very well. They understand that sometimes better than most corporations. And they also understand how to leverage resources. What that means is in large corporations, there's a lot of money. And so ideas tend to keep going even when perhaps there's no merit. Because people are intellectually invested in the idea. Now what that means for the entrepreneurs is that they bring a ruthless market discipline to a large corporation like Nokia. Think about it. If you're an entrepreneur and you're not getting market attraction because you don't understand your customer. And you have nobody that goes into prototype with you. You have nobody that's going to pilot with you. You're never going to get to revenue. Now, large companies would have a tendency to keep going and keep burning money to get the idea for wishing. Entrepreneurs can never do that. So they move quickly and what it does is it forces the hand of the corporation to move at the speed of an entrepreneur. And so that's an enormous amount of value that is brought.

1. Collaborate to Enter Markets
2. Separation from Nokia's Core Business
3. Building Your Business
4. Picking Your Partners and Your Team
5. Focus, Flexibility and Market Validation
6. Creating Commercial Value for Your Product
7. Working with Your Investor
8. Learning from History

Stephanie Keller-Bottom lectures on Entrepreneurship for Stanford University students, April 26, 2006. As leader of the Innovent team, Stephanie Keller-Bottom draws upon over 17 years of of executive leadership roles in creating new marketplaces for Fortune 500 companies like Hewlett Packard, Citibank/Citicorp and Visa. Ms. Keller-Bottom joined Nokia's venturing organization in 1998, the entity charged with corporate renewal and innovation. In 2000, she established Innovent, the entrepreneurial innovation unit within Nokia that explores emerging markets and the opportunities they create. In this Stanford lecture, she talks about building your business and working with your investor.

Related Links: www.nokia.com
Last Updated: Mon, Jul 24, 2006

Course Details:
- Entrepreneurial Thought Leader Speaker Series
- Stanford University's Entrepreneurship Corner (ecorner)

Original Course Name: Entrepreneurial Thought Leader Speaker Series.