The Fairy Tale of Innovent and How it Came to be

Title: The Fairy Tale of Innovent and How it Came to be
Date: 2006-04-26
Speaker: Stephanie Keller-Bottom (Nokia)
Link: Entrepreneurial Thought Leaders
Companies like to consistently report profits. They don’t like to miss forecasts.
Nokia was originally a rubber boots and paper products company. It is named after a river.
Anybody that produces products ultimately becomes commoditized if they don’t move innovation forward.
There is no kingdom that can grow without acquiring external knowledge and taking that knowledge and integrating it with the core competencies that reside in its own kingdom.
The only way of talking to an entrepreneur is by speaking their language.
There is only prediction and the acceptance of risk. There is no certainty.
You must collaborate.
You must have an ecosystem of players that you share incentives with. Nobody gets 100% of the pie anymore.
Negotiations are not about control–they’re about collaboration.
Don’t be measured by the wrong metrics.
Make sure your partners share your same values and direction.
Don’t replicate competencies.
Bring to the table complementers rather than people that share the same skills.
Get focused.
Assume the capital you get is the last you’re ever going to have.
Be flexible and take coaching.
Nobody has all of the right answers.
Create a market positioning strategy.
Get a market validation study done upfront.
Pricing has one way to go and that is down.
One product does not create a sustainable revenue company.
The original product you produce is never the product that goes out to market. It iterates.
Silicon Valley is what drives the venture economy and is where entrepreneurs need to be.
The best way to learn about the future is to understand the past.
Recommends book: Orbiting the Giant Hairball