Values

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Values

Values before principles

Values set the stage for everything else.  Common values hold venture inventors and their teams together.

Boldness

Venture Inventing points to a bold path.  It is not for the faint of heart. Airplane pilot tradecraft says “there are bold pilots and old pilots, there are no old, bold pilots”.  Inventing is the opposite, “there are bold inventors and old inventors, the only old inventors are bold”.  New inventions necessitate boldness.  Capital of all sorts and risk are put on the table.

Bravery

Or “facing the music” is tough for many inventors who believe that their project is without competition, is the best thing and that the world will beat a path to their door.  Bravery is putting the work at risk and allowing it to fail if the invention is not commercially viable.  Some say the odds are astronomical, others say better than even.  None say “no risk”.  All say “check it out and make sure it passes muster”.  Bravery is putting it all on the line.  From the teammate who passes on negative feedback fearing for his job, to the investor who sunk money, to the inventor who realizes that the prototype did not perform in the field like the computer model said it would.  Facing the music – risking ones job, income and invention takes bravery.

Honesty

Intellectual honesty takes work.  Inventing around the intent of another invention is not as satisfying as inventing a new invention. Honesty of all types is fundamental to business and life working.  For accountability to work, people have to be honest.  Sometimes honesty is painful.  When work was promised and golf is what happened, being honest gets uncomfortable.  Clear honest communication is burn-out preventive medicine.  Example: If a teammate is tasked with making calls, and management is as interested in the negative calls as the positive ones but the teammate does not know this, and instead views negative calls as a personal failing, the teammate is tempted to cover up the high incidence of negative outcomes.  If the honesty prevails, the worried teammate presents the actual responses and receives positive feedback for the report.

Care

New projects are fraught with possible failures.  Care eliminates many risks and minimizes others.  Is the business case for the invention accurate and useful, was it made with care?  Are the drawings thoughtful so that affordable manufacturing is feasible?  Is the prototype made to exacting standards?  Baking the cake of a new invention, by definition, has new parts to the recipe.  Only careful and thoughtful work allows the invention to taste good.  Caring about deadlines, projects, team mates, customers, stakeholders and the myriad details that go into any new invention is fundamental to success.

Diligence

inventions that are not diligently prosecuted end up as good ideas that someone else is doing.  The effort of creation is remarkable, time stopping, engrossing, and difficult.  Focus and persistence are the keys to the act of creation.  There is more.  Just because one had an idea, should this idea be prosecuted?  Due diligence, finding out if there is indeed a market and that the market is profitable for the costs comes right after the idea.  Some inventors figure out the market first and then invent to the market.  Either way, diligence include careful expenditures, checking twice, legal in order and everything else.  The attribute of diligence is necessary for success.

Privacy

Public or casual presentation of inventions and their derivative ideas cause messy ownership of the new intellectual property.  The wrong publicity can lead to crushing competition.  Without publicity, marketing and advertising, the invention is unlikely to leave the shop.  See more on this topic.

Kindness

Not everyone sees the use of a new invention, or the future it suggests.  Lack of kindness impedes work from all perspectives. See http://greatergood.berkeley.edu/article/item/why_compassion_in_business_makes_sense

 

 

 

 

Categories: Strategy

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