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Start Up Mentalities in Big Business: The truth no one wants to admit Katherine Patterson, Global Marketing Communications Manager, GE Healthcare
Start Up Mentalities in Big Business: The truth no one wants to admitKatherine Patterson, Global Marketing Communications Manager,GE Healthcare
Note:
This talk is not endorsed by GE Healthcare. Any comments, statements, promise, or
swear words are purely from Katherine Patterson and
probably frowned upon (although likely expected) by
GE Healthcare.
About meGlobal Marketing Communications Manager for GE Healthcare
Corporate liaison
Branding & Advertising for GE Healthcare
Growth Initiatives
I just can’t shut my big yap
A cultural lesson:France v. US
Today’s Talk
The truth about marketing
The truth about start up mentalities in big business
What you need to remember
The truth about marketing
The eight most brilliant marketers of all time
André Citroën
Conrad Gessner
Lily Langtry
Charles Ponzi
John R. Brinkley
Mary Kay Ash
George Wilkes
Julias Caesar
Engineer
Bontanist, physician
Actress
Businessman
Quack physician
Door-to-door sales
Journalist
Statesman, author, noblehttp://www.businessinsider.com/the-greatest-marketing-geniuses-of-all-time-
2011-2?op=1
There is no BAR exam for marketing.
“It will work. I am a marketing genius.”
-Paris Hilton
The Latest In Shiny Object Syndrome
Big Data
Industrial Internet
Intrepreneurs
Gamification
Infographics
Advertainment
Earned Media
Ideation
Contextual Marketing
StartUp Model
360 Marketing
QR Codes
Social Media Strategy
Personal Clouds
Permission Marketing
Mobility
Make moneyTwo objectives:① Mitigate risk② Influence or anticipate human
behavior
Truths about start up mentalities & big business
The BIG truth:
15 minutes | Teams of 4 | tallest structure with marshmallow on top wins
Truth #1: To embrace start up mentalities, you have to embrace failure.
Leveraging the startup approach
Get us closer to customers
Increase our speed to market
Increase chance of success
Make it easier to get things done
Start ups: Failure is
likely.
Big Business:Failure is not an option.
Entrepreneurs average 3.8 failures before final success. What sets the successful ones apart is their amazing persistence.” – Lisa M. Amos
The dirty 4-letter word
RISK
Measurement ≠ Effectiveness
Logic
Outputs
Doing things right
Divides
Resists change
How well did it work?
Emotion
Outcomes
Doing the right thing
Unifies
Embraces learning
How can we do better next time?
Campaigns that set hard objectives are 4x more effective than those that
don’t.
Pre-testing for standout reduces
effectiveness (awareness is
worst predictor of all)
“Some may choose to call this the boldest single marketing move in the history of packaged goods. We call it the surest move ever made.”~Roberto C. Goizueta, CEO and President of Coca-Cola
Truth #2: What corporations say and what they do in practice are two different things.
Start ups: Figure it out as you go.
Big Business:Overthink but try to
keep it simple.
FastWorks Framework:Continuous learning, iteration and improvement
Understand the problem… from the customers’ point of view
Identify leap of faith assumptions… that are critical to project success
Define a series of MVP’s (Minimum viable product)… tests to validate assumptions
Establish learning metrics… accessible, actionable & auditable
Pivot or persevere… make changes based on learning
Ideas
Build
Product
Measure
Data
Learn
Design• Assumptions• Testable
Hypotheses
Interview• Customer
problem statement
• Share pain points
Analyze• Validated pain
points
POP• Pivot or
Persevere
Customer Engagement Process:Validate before you pivot or persevere
Two types of validation:1. Customer problem statements2. MVP solutions
MVP Solution: • Share MVP
Validated features
Pivot or Persevere
Repeat this process with higher fidelity MVPs
Truth #3: Most companies have a culture of me.
Start ups: Focused on
product
Big Business:Focused on career
HIPO factor.
Truth #4: Need based vs. Revenue based.
What you need to know
Truth #4: Authentic is the new black.
Differences in summary
Fundamental differences
Start Ups
Failure is key
Passion for product
Focus on growth
Need-based
Address basic human emotional needs
Big Business
Failure is not an option
Passion for me
Focus on career
Revenue based
Address needs of company for growth
