Event Recap - A Discussion with Jim Stengel
Jim Stengel, author of “Unleashing the Innovators: How Mature Companies Find New Life with Startups”, spoke to a group of over 70 people at Lenox Wealth’s event on Wednesday evening.
After giving a brief history of his experience as CMO at Procter and Gamble and launching his business 10 years ago, Jim talked about the work he is pursuing now. Believing what you read is first and foremost, the audience piped in about what they were reading today. He commented on the different books and their relevance in today’s world.
His revealed his latest read, a book called “Scale” based on the statement that the only way to grow your company is to reduce it’s reliance on you.
His other? Hero of the Empire about Winston Churchill, a fascinating read.
Jim asked what the odds of a company being in business 200 years ….1 in a billion! Procter and Gamble is 180 years old. The takeaway is that many older companies can get caught up in what they are and are too slow to react.
Startups take risk, trying new things and bringing new life to some of our oldest companies by disrupting them. This leads to a stronger and more viable company.
At one point, Jim discussed a one-month job swap that was done between Google and Procter and Gamble employees. The learning was incredible- both Google and Procter and Gamble benefited greatly from the exercise, rethinking how they looked at their day-to-day businesses, their culture, how people work together, etc.
In his book, he takes us inside some of the great corporations to see what they are learning from their alliances with the startups.
Bottom line, there is always learning in everything we do and experience.
Keep an open mind, your way may or may not be the best way.
Find a career that matches your special gift.
Find your sweet spot and passion.
Love what you do.
Failure is not a sin.
When a company gets more from you than you get from them, it is time to move on.
If you leave a big company and it doesn't work out, you can always go back.
Take more risks.
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