Index

ABCs of business decay, 272
Accelerate phase, 206–225
being prepared for, 30–33
Build to Automate in, 214, 215, 219–220
Build to Grow in, 214, 215, 220–221
Build to Validate in, 32, 175, 214, 215, 217–219, 280
discipline in, 221–223
industry veterans in, 211
mistakes to avoid in, 216
NVAs in, 295
NVBs in, 287–288
objectives and outcomes in, 217–221
potential for success in, 224–225
preconditions for, 210–211
stages and swim lanes in, 214–216, 221–222
tips for, 211–216
what happens in, 208–210
work plan for, 221–222
acceleration, 10
road map for, 19
in startups versus Venture Factories, 14
administration and coordination, 247–248
advisory boards, 36, 211–212, 242
agendas, “Looking Forward to Accelerate,” 30, 32–33, 280–281
agility, 13
Airbnb, 8, 17, 29
Airbus, 88
Airtable, 60–61, 113, 164
Altman, Sam, 210
altruism, 303
Alvarez, Cindy, 121
Amazon, 8
anchors, 94
apples to oranges comparisons, 120, 178–179
Apple TV, 60
Archer-Daniels-Midland, 88
Asset Jam, 82, 84, 94, 171
Gives and Gets based on, 198
assets, access to, 271
assumptions, about superstars, 38
automation, building for, 214, 215, 219–221

Balsamiq, 62–63, 165
Benchmark Capital, 28
Beriker, James, 209
Berkshire Hathaway, 272
bias, 106, 118
big-bang releases, 216
Blakely, Dave, 172, 173
Blank, Steve, 172, 210
Blink: The Power of Thinking Without Thinking (Gladwell), 180
Blockbuster, 17
Board Members-in-Residence (BMIRs), 213, 266–267
body language, 129
brand building, 97
brand equity, 84
budgets
concept suitability and, 76–77
in operating and execution plans, 193
planning for Incubate, 56
for Venture Factories, 256–260
Buffett, Warren, 272
buildable products, 152, 169–171, 200
Build to Automate, 214, 215, 219–220
iteration in, 219
work plan for, 221–222
work streams for, 218
Build to Grow, 214, 215, 220–221
iteration in, 219
work plan for, 221–222
Build to Validate, 175, 214, 215, 217–219
milestones in, 32, 280
work plan for, 221–222
Burn, Mike, 94, 171
burn rate, 193
business and execution plans, 178–179
business case, 180–192
business model in, 190–192
customer journey in, 187–188
on customer pain, 184–185
describing the opportunity in, 185–186
go to market and monetization in, 190–192
market section in, 182–184
product vision and MVP in, 189
tech road map in, 189
where you’ve been in, 181–182
who you are in, 180
business decay, 272
Business Model Navigator, The (Gassman, Frankenberger, and Csik), 190
business models, 216
Build to Automate, 220
business plan on, 190–192
experts on, in Venture Factories, 246
list of, 191
Business phase, 176–205
building the business case in, 180–192
operating and execution plan in, 192–205
responsibilities in, 178
business units
funding ventures from, 269
working with, 243
See also spin-in ventures

calendars
for customer interview scheduling, 61
NVT, 55, 56
for prototype interviews, 155
Calendly, 61
capability, concept assessment for, 69, 78–79
cash flow, 193
CB Insights, 9
celebrations, 208
central hubs, 59–60
CEO-in-Residence, 96
CEOs
discretionary funds of, 269
finding the new venture’s, 212–213
Challenge Framing, 68, 81–82, 94, 98–99, 237, 300
approving output of, 273
in building Venture Factories, 236
in exploring venture options, 274, 275
finding ideas with, 237
managing, 247
in New Venture Competitions, 104
NVBs and, 273
Challenge Question exercise, 86, 294
Challenge Statements, 81–82, 86, 92
describing in the business case, 181
Domain Exploration and, 99
elements of, 86
examples of, 87
framing, 94
NVAs and, 293–295
Chambers, John, 8, 265
Charpie, David, 209
Check-in meetings
customer interview quotes in, 63
designers for, 244
focus on customer pain in, 184
go/no-go decisions and, 267, 268
market or sales specialists for, 246
NVB, 267, 276, 277–278
NVT presentations, 49
Product phase, 167
chief financial officers, 95
Chime Bank, 8
choice-supportive bias, 118
Cisco, 8, 265
collaboration, technology for, 63
commoditization, 153
communication
early messaging, 146
NVT to Mothership, 57
positive messages in, 255
technology for, 60, 63
in Venture Factories, 254–255
See also business case
company-identified and company-organized teams, 37
compensation, 78, 286–287
in “Looking Forward to Accelerate,” 32
Venture Factories and, 243, 250
Competing for the Future (Hamel and Prahalad), 12
competition, operating and execution plans on, 199–202
complexity, 153
compliance, 241
concepts, for new venture
assessment of, 69–80, 94
capability for, 69, 78–79
desirability of, 69, 70–71
feasibility of, 69, 72–73
ranking, 80
suitability of, 69, 76–77
viability of, 69, 74–75
confirmation bias, 118
consistency bias, 118
consultants, 211
context, in storyboard, 136
core competencies, 9, 17
access to, 48, 271
Asset Jam and, 171
concept assessment based on, 69, 78–79
corporate venture capital (CVC) funds, 27–28, 169, 228
costs, 257. See also budgets; funding
cost structure, 84
cost to manufacture, 153
cover slides, 180
Cowboy Ventures, 9
creativity, 42, 57–58
credibility, 112
CRM (customer relationship management), 60–61, 113
Csik, Michaela, 190
curiosity, 28
customer development
continuous process of, 149
customer interviews in, 113–114
definition of, 112
importance of, 113–114
leads for, 42
Portfolio Review Days and, 96–97
in the Product phase, 152
prototype interviews in, 153–155
storyboard interviews in, 135–148
Venture Factory leads for, 244
customer interviews
bias in, 118
describing in the business case, 181
documenting, 113
how many to do, 113–114
improving interview techniques for, 128–129
ins and outs of, 114–121
note taking in, 63, 121, 128
pain point, 114, 121–135
planning approach for, 56
practicing for, 46
prototype, 114, 153–155
question types for, 119
recruiting customers for, 46, 47, 114–118
scripts for, 118–119
storyboard, 114, 135–140
technology for, 61, 63
tips for, 127, 129
traps in, 120–121
customer journey, 187–188
customer pain, 13
business case on, 184–185
commonality of, 185
concept desirability and, 70–71
credibility and, 112
distinctiveness and, 185
finding real, 301
hypothesis creation on, 85
hypothesis testing on, 113
Incubate phase I, 110–149
interviews for, 26–27
kill decisions based on, 182, 267
killing off ideas based on lack of, 135
matching with trends and technology, 27–28
operating and execution plans, 199
understanding, 26–27
validating global nature of, 129–131
customer personas, 93, 128, 146
in the business case, 184–185
developing, 147–148
customer relationship management (CRM), 60–61, 113
customers, target, 70
access to, 270–271
Day in the Life of, 187–188
number of, 41
operating and execution plans on, 199
customer segments, 87, 93
based on customer pain, 129–131
customer testing, 14
CVC. See corporate venture capital (CVC) funds

Danner, John, 16
dashboards, incubator, 237, 238
data, 14
data flow, 173
Day in the Life of the customer, 187–188
Day in the Life of the team, 276
deliverability, 152
design
for New Venture Plan Competitions, 102–103
technology for, 62–63
Venture Factory, 234–235
designers, 42–43, 244
desirability, 69, 70–71
detractors, 145–146
development cycles, 216
devil’s advocates, 38
Dimon, Jamie, 8
discipline, 221–223
disruption, institutionalizing, 291, 302–303
disruptors, 8, 40
distribution channels, 84, 270–271
diversity, in New Venture Teams, 36–37, 40
dividends, 270
documentation
of customer interviews, 26–27, 113, 121
of pain point interviews, 124–125
of prototype scores, 164
of storyboard interviews, 139
technology for, 60–62
doing good, 303
Do It on Monday lists, 204–205, 223
Domain Exploration, 98–99
Dorf, Bob, 210

Ecosystem Mapping, 98–99, 210
ecosystems, internal innovation, 288–295
Efficiency Experts, 39–40
empathy
creating in the business case, 185, 188
exhibiting radical customer, 301
in NVT members, 42
engagement of NBV members, 48, 49, 266–272
engineering specialists, 246
Entrepreneur-in-Residence, 244
entrepreneurs
networking for, 211–212
in Portfolio Review Days, 95, 97
resources for, 209–210
entrepreneurs, internal, 9
keeping them happy, 103
lifestyle of, 37
equity compensation, 250
execution, 178
in “Looking Forward to Accelerate,” 32
executive interviews, 94, 99, 274–275, 276
exercises
Asset Jam, 84
Challenge Question, 86, 294
Customer Pain Hypothesis, 85
Developing Personas, 147–148
Hypothesis, 293
Hypothesis Statement, 123
Identify Who Matters Most, 88–91
Mothership Management From-To Shifts, 294
What Matters Most?, 83
expertise, 17
access to, 48

facilities, 248
failure, embracing, 300–301
feasibility, 69, 72–73
product design and, 169–171
feedback
in Build to Validate, 218
on New Venture Plan Competitions, 100, 101
from pain point interviews, 134
from storyboard interviews, 139
financial services, 241
Financial Times, 15, 231
Fortune 500 companies, longevity of, 8–9
Foundation Capital, 12, 70
Frankenberger, Karolin, 190
The Friction Trap: How Smart Companies Make the Right Things Easier, the Wrong Things Harder, and Do It Without Driving People Crazy (Rao and Sutton), 285–286
fun, 303
funding, 17
approval of, 204–205
identifying sources of, 30
levels of for ventures, 258–260
in “Looking Forward to Accelerate,” 32–33
NVBs in providing, 48, 268–270
operating and execution plans on, 193, 195–196
small bets and, 28
for spin-outs, 283
in startups versus Venture Factories, 14–15
for Venture Factories, 256–260
future, working backward from the, 30, 45, 102, 104, 240, 302

Gainey, Mark, 12
Galle, Greg, 94, 171
Gassmann, Oliver, 190
General Motors, 272
Gives and Gets, 197–199, 243
Gladwell, Malcolm, 180
Global 1000 companies, 16, 172
global challenges, 236, 303
Gmail, 62
go-big mentality, 216
go/no-go decisions, 15, 16, 17, 48, 266–267
based on customer pain, 135
criteria for in Venture Factories, 239–240
inflection points for, 182
good, doing, 303
Google, 209
AdWords, 117
Calendar, 61
Drive, 61–62, 113, 164
Sheets, 60–61
Slides, 62
go-to-market options, 190–191
governance
choosing models for, 48, 282
determining appropriate, 271
in “Looking Forward to Accelerate,” 32–33
NVB decisions on, 282–286
operating and execution plans on, 197
in Preparing to Incubate, 291
for Venture Factories, 242–243
Graham, Paul, 210
Griffith, Erin, 9
growth
building for, 220–221
institutionalizing, 20, 226–261
leadership capable of, 231
pipeline for incubating, 11–12
principles for driving, 298–303
Venture Factories in, 234–235
Growth Engines
challenges facing, 265–266
imperatives for, 266–272
incubate activities for, 273–281
key decisions for end of incubate, 282–287
launch and accelerate activities for, 287–288
Mothership advantage for, 288–295
policies, procedures, and politics in, 296–297
requirements for, 228, 261–297
Growth Geniuses, 39
growth mindset, 28, 37, 297
G Suite, 61

Hamel, Gary, 12
Hare, Chelsea, 138
Harman, Drew, 27, 112
Hastings, Reed, 12
hear no evil interview trap, 120–121
high performers, 38
hiring, 216, 247. See also talent plans, for Venture Factories
hiring plans, 194
Holland, Paul, 12, 70
How to Start a Startup class, 210
human resources, 247, 270, 291, 295
hypotheses
NVAs and, 293–295
for pain point interviews, 122–124
testing, 69

IBM, 272
ideation, 10, 66–109
concept assessment in, 69–80
getting started with, 109
New Venture Plan Competitions and, 100–109
number of ideas and, 68–69, 81
NVAs in, 292–295
NVBs in, 273
sources of ideas and, 241
in startups, 13
strategy and, 68
in Venture Factories, 241
imagination, 16
Incubate phase
Business phase in, 176–205
customer focus in, 110–149
NVAs in, 295
NVBs in, 273–281
outsiders in, 45
preparing for, 50–63
process in, 47
Product phase in, 150–175
Week 0, 46–47
workstreams in, 112
incubation, 10
assembling teams for, 82
coming up with ideas for, 98–109
dashboards for, 237, 238
idea that’s ready to incubate and, 81–93
leadership for in Venture Factories, 247
managing the Mothership and, 15–17
methodology for, 16
Portfolio Reviews for, 94–97
road map for, 18–19
incubation models, 236
incubation plans, 181
incubators, Venture Factories versus, 228, 231–232
innovation
full-time teams for, 29, 44
internal ecosystems for, 288–295
transformation and, 266
inspiration, 301
intellectual property, 87
international teams, 54
language barriers in, 61, 155
logistics for Venture Factory, 248
Venture Factory, 236–237
video conferencing and, 59–60
interviews
customer, 26–27, 113–140
executive, 94, 99
pain point, 114, 121–135
planning approach for customer/stakeholder, 56
prototype, 114, 153–155, 158–161
stakeholder, 56, 122
storyboard, 114, 135–148
surveys versus, 26–27
Intrapreneurs, 39, 209–210
introductions, personal, 115–116
InVision, 62
IT departments, 59, 241, 248, 295

Jobs, Steve, 14, 58, 153
Joby Aviation, 8
JPMorgan Chase, 8

Kana Communications, 12
Keynote, 63
key performance indicators (KPIs), 231, 237
key results, 288
killing ventures, 15, 16, 17, 266–267
criteria for in Venture Factories, 239–240
inflection points for, 182
pain point interviews and, 135
Kingsley, Bill, 209, 287–288
know-how, 87
KPIs. See key performance indicators (KPIs)

Lammers, Patrick, 172
Lampert, Russ, 183
landing pages, 62
customer recruiting with, 117
prototype, 155–156
for prototypes, 165
launches, 240, 287–288
leaders and leadership, 261–297
development of, 253
failure of to grow, 16–17
fear of disruption by, 8
growth of, 232
politics and, 296–297
in Portfolio Review Days, 95
for Venture Factories, 231
leading the witness, 120
Lean Customer Development: Building Products Your Customers Will Buy (Alvarez), 121
lean startup methodology, 172
learning
by designing, 248–249
by doing, 248
by leading, 249
sharing with employees and investors, 255
Lee, Aileen, 9
legal services, 240, 291, 295
LinkedIn, 57, 116–117
logos, 56–57, 180
“Looking Forward to Accelerate” agenda, 30, 32–33, 45, 280–281
lunatic fringe, 37
Lyft, 169

Mach49, 12, 13
Accelerate phase at, 208–209
Board Member-in-Residence, 213
on industry veterans for Accelerate, 211
in Portfolio Review Days, 95
“Welcome to Accelerate” letter, 287–288
Mahr, Alex, 15, 231
management review board mindset, 231, 232
manufacturing, 241
marketability, 153
marketing, 201, 291
in Build to Automate, 220
NVAs and, 295
services for Venture Factories, 240
marketing channels, 84
markets
access to, 270–271
in the business case, 182–184
business model and, 190–192
experimentation framework for, 210
experts on in Venture Factory teams, 246
going to, 216
kill decisions based on, 182
segmentation of, 146
size of, 74, 182, 183–184, 200
strategy for, 154
testing, 14
mergers and acquisitions, 228, 255
methodology, 232, 301
metrics, 12, 15, 300
for Accelerate, 280
evaluating potential and, 225
for New Venture Plan Competitions, 98
in operating and execution plans, 192
risk mitigation and, 26, 199, 202
for spin-ins, 284
for Venture Factories, 237, 250, 261
milestones, 12, 14, 192
Accelerate, 209
accountability and, 175
Build to Automate, 219
Build to Validate, 32, 280
celebrating, 208
for customer interviews, 114
funding and, 195, 258, 268
operating and execution plan, 192–193
phantom stock plan, 286
reviewing, 288
risk mitigation and, 28
mindset, 231, 232, 277, 297
minimum viable product (MVP), 11, 33, 42
in Build to Validate, 218
business case on, 189
defining, 43, 169
definition of, 172
feasibility and, 72
market segmentation for, 146
in New Venture Plan Competitions, 108
product design based on, 172
prototypes and, 166, 167
risk and, 175
system architecture and, 172–174
Miro, 63
monetization, 190–192
Moore’s law, 152
Mothership
concept alignment with, 76–77
drivers to successful ventures, 289–291
engaging in Build to Grow, 221
friction with, 16, 232, 271
Gives and Gets with, 197–199
management from-to shifts, 294
managing the, 15–17, 28–29
NVT communication with, 57
NVT name/logo and, 56–57
readiness of, 94
risk and competition and, 201
transfer pricing and, 196
Venture Factory management of, 248
Venture Factory services and, 240–241
Mothership advantage, 10, 20, 28–29, 209, 232, 302–303
Gives and Gets and, 199
importance of seizing, 16, 18, 26
innovation ecosystems and, 271, 288–295
NVBs in seizing, 286, 288–295
scaling and, 10
motivation, 78
MVP. See minimum viable product (MVP)
Myers-Briggs Type Indicator, 46

Netflix, 17
net promoter scores, 144–146, 164
networking
for customer interview recruiting, 115–117
to stay current, 170
to support new ventures, 211–212
types of people for, 212
for Venture Factories, 243
New Venture Advocates, 36, 243, 271, 289–295
New Venture Boards, 17, 30, 181
in access to customers, channels, and markets, 270–271
in challenge framing, 81
customer access through, 115
Day in the Life of, 49
executive interviews with, 99
funding and, 48, 268–270
go/no-go decisions by, 266–267
growth mindset for, 297
imperatives of, 266–272
Incubate activities of, 273–281
members of, 266
mindset for, 277
policies, procedures, politics, and, 296–297
in Portfolio Review Days, 94–95
reviewing, retaining, removing, or revising for Accelerate, 212
role of, 48
roles in, 36
selecting great, 48–49
Sponsors for, 272–273
in support networks, 211–212
New Venture Plan Competitions, 100–109, 237, 251
Challenge Statements in, 99
competition journey and timing of, 104–105
judging, 106–109
preconditions for, 101–103
scoring sheet for, 108
New Venture Teams, 29, 34–49
after the 12 weeks, 45–48
budget for, 56
calendar for, 56
celebrations in, 208
Check-in presentations, 49
chemistry in, 40–42
communication with Mothership, 57
compensation for, 286–287
describing in the business case, 180–182
finding talent for, 37–40
full-time teams for, 29, 44
great versus bad members in, 41
hybrid, 55
inspiration for, 57–58
leads for, 30, 42, 44–45
mode and venue for, 53–55
naming, 56–57
NVBs in selecting, 273, 276
onboarding, 46–48
physical, 53–54
in Portfolio Review Days, 94–95
preconditions for, 44–45
Product phase Check-in for, 167
role of NVBs with, 48
roles in, 36, 42–44
selecting, 36–42
skills and traits for, 43–44
split for the Product phase, 152
staying current, 170
steps for after decision to launch and fund, 204–205
supplies for, 58
system architecture for, 172–174
technology for, 53, 54, 59–63
types of, choosing, 37
virtual, 53
note taking, 63
novelty, 153
NVAs. See New Venture Advocates
NVB. See New Venture Boards
NVT. See New Venture Teams

objectives, 288
office space, 54
onboarding, 248–249, 276
“One Number You Need to Grow” (Reichheld), 144
one-stop shop interview trap, 120
Open-Ended Pain Point Interviews, 121–135
operating and execution plans, 178, 192–205
asking for money in, 195–196
critical numbers in, 193
Gives and Gets in, 197–199
governance in, 197
hiring plans in, 193, 194
organization charts in, 193, 194
phases and milestones in, 192
risk and competition in, 199–202
“Why us?” in, 203
operations, 216
in Build to Automate, 220
Venture Factory, 241, 251–252
opportunities
the business case on, 185–186
finding the big, 169
options, exploring, 274–275
option value, 16
organization charts, 193, 194, 249
Otter.ai, 63

pain point interviews, 114, 121–135
hypothesis for, 122–123
improving interview techniques for, 128–129
note taking in, 128
scripts for, 122, 125–127
summary and synthesis of, 132–135
See also customer interviews; customer pain
Palmer, Maija, 231–232
partnerships, 84
in Build to Validate, 218
co-creating ventures with, 236
rules of engagement for, 283
strategic, 228
passion, 301
passives, 145–146
peers, in support networks, 211–212
personality profiles, 46
personas. See customer personas
phantom equity plans, 250, 286–287
pipelines, 178–179
sales, 219
for Venture Factories, 234–235
Pitch Day, 278–281
business and execution plans for, 178–179
decisions based on, 280–281
go/no-go decisions and, 267–268
“Looking Forward to Accelerate” and, 32–33
New Venture Plan Competitions and, 100, 104–109
NVAs in, 295
NVBs in, 49, 278–281
pitch decks, 178, 283
planning, 52, 185
for Accelerate, 42
for Incubate, 50–63
playbooks, 219, 220, 221, 231
policies, 295–297
politics, 296–297
Portfolio Review Days, 94–97, 273
portfolios, 178–179, 301
portfolio strategy, 16
possible, art of the, 27–28, 170, 302
Prahalad, C.K., 12
Predictive Index, 46
present value, 16
Price, Julie, 121
pricing, 190–191, 196
Primack, Dan, 9
procedures, 296–297
procurement, 241, 291, 295
product design
business case on, 189
can you build it and, 169–171
customer and market fit in, 220
early, 168–175
first step in, 172
operating and execution plans on, 200
risk and, 175
specialists, 246
system architecture and, 172–174
who builds it and, 171–172
product development, 216
in Build to Validate, 218–219
productivity, G Suite for, 61
product leads, 42
Product phase, 150–175
early product design, 168–175
kill decisions based on, 182
prototype interviews in, 153–155
questions to answer in, 152–153
timeline for prototypes in, 166–167
profit, 16
profitability, 74
program managers, 42
programming, 252–253
projection bias, 118
promoters, 145–146
promotions, 243
prototype interviews, 114, 153–155
scripts for, 158–161
tips for, 158
prototypes, 155–175
benefits of, 154
for hardware or hard goods, 165
high-resolution, 164
low-resolution, 162
mid-resolution, 163
sample, 162–164
scoring tests of, 164
starting point for, 155–156
timeline for, 166–167
what to build, 156–157
Pure Software, 12

Rachleff, Andy, 28, 175
Rao, Huggy, 285–286
R&D budgets, funding ventures with, 270
rebranding, 236
recruiting, 231
agencies for, 118
plans for, 194
regulatory services, 241
Reichheld, Fred, 144
reinvestment, 270
releases, 216
reliability, 153
resistance, 295–296
resources, 271
retention rates, 220
revenue models, 200
revenue streams, 193
risk, 16
embracing, 300–301
feasibility and, 72
operating and execution plans on, 199–202
product design and mitigation of, 175
Rocket Mortgage, 8
rockets, 94
Ross, Ed, 59

sales
NVAs and, 295
services for Venture Factories, 240
in Venture Factory teams, 246
sales forecasts, 193
sales pipeline qualification tools, 219
SAM. See serviceable available market (SAM)
Scaff, Marvin, 59
Scale phase, 10, 153, 221
preconditions for, 216
in startups versus Venture Factories, 14
validating global nature of pain and, 129–131
watching for challenges in, 221
Scaling up Excellence (Rao & Sutton), 285
scripts
for customer interviews, 118–119
for executive interviews, 274–275, 276
for pain point interviews, 122, 125–127
for prototype interviews, 158–161
for storyboard interviews, 141–143
Sears Roebuck, 272
security, 59
seed funds, 269
self-organized teams, 37
serviceable available market (SAM), 184
serviceable obtainable market (SOM), 184
Shared Services model, 285–286, 291
Sifted, 15, 231
Silicon Valley, 8, 9
competing against, 12
innovation system in, 289
mavericks in, 37–38
Singh, Sukhjinder, 172
Sketch/Figma, 62
Slack, 60, 128
small bets, 28
business model and, 190–192
metrics aligned with, 261
minimum viable product and, 175
with technology, 59
social desirability bias, 118
social media, in customer recruiting, 117
Solve Next, 94
SOM. See serviceable obtainable market (SOM)
space management, 248
speakerphones, 60
spin-in ventures, 48, 197, 240, 282, 284–286
spin-out ventures, 48, 197, 240, 282, 283
compensation and, 286
Sponsors, 272–273, 292
stacks, 173
staffing plans, 193, 247
staggered start dates, 252
stakeholder interviews
pain point, 122
planning approach for, 56
Stakeholder Maps, 81, 88–91, 94
in the business case, 184–185
Challenge Statements and, 92
Domain Exploration and, 98–99
NVBs and, 273
stakeholders
in the business case, 184–185
identifying who matters most, 88–91
stakeholder segments, 41
standardization, 178–179
Stanford University, 175
start dates, 252
Startup Owners’ Manual, The (Blank and Dorf), 210
startups
benefits of corporate ventures versus, 13–15
established companies’ advantages over, 9
principles for beating, 298–303
resources on, 209–210
statistics on failure of, 13
staying current, 27–28, 170, 265
storyboard interviews, 114, 135–148
characteristics of good, 140
creating storyboards for, 138
product development based on, 146–148
rating and ranking, 144–146
script for, 141–143
what you should earn from, 140
storytellers, 42–43
in building the business case, 180
in Portfolio Review Days, 96
in Venture Factory teams, 246
storytelling
in customer interviews, 118–119
encouraging in pain point interviews, 129
Keynote for, 63
power of, 136
storyboard interviews and, 135–140
Strategos, 12, 37
strategy
concept suitability and, 76–77
ideation and, 68
Strikingly, 62
Stripe, 8
Stryber, 15, 231
subject-matter experts, 42, 246
success
foundational elements of, 26–29
of independent versus incubated startups, 13–15
preconditions for, 29–31
suitability, 69, 76–77
summary and synthesis sessions, 132–135, 277
supplies, for NVTs, 58
supply chains, 87, 241
support, internal, 76–77, 201
support networks, 211–212
surveys, 26–27
Sutton, Robert, 285–286
swim lanes, 215–216, 221–222
Sybase, 12
synthesis sessions, 132–135, 277
system architecture, 172–174

tag lines, 180
talent, unleashing your internal, 300
talent development budgets, 270
talent plans, for Venture Factories, 231, 241, 244–250
TAM. See total addressable market (TAM)
Tandem, 63
team chemistry, 40–42
teams, Venture Factory, 244–250. See also New Venture Teams
technology
business case on, 189
feasibility and, 72
NVAs and, 295
for NVTs, 53, 54, 59–63
in Portfolio Review Days, 96, 97
staying current with, 27–28, 170
support for Venture Factory, 248
for Venture Factories, 252
video conferencing, 59–60
telepresence robots, 60
TMO. See total market opportunity (TMO)
tools
capability assessment, 78–79
desirability assessment, 70–71
feasibility assessment, 72–73
suitability assessment, 76–77
viability assessment, 74–75
total addressable market (TAM), 183
total market opportunity (TMO), 183
Toyoda, Akio, 8
Toyota, 8
training, 248–249
transfer pricing, 196
TV, 60
“Tyranny of the Large Denominator,” 16–17

Uber, 17, 27, 29, 169
uncertainty, comfort with, 41
Unicorns
current number of, 9
definition of, 9
principles for creating, 298–303
road map for creating, 18–20
systematic process for developing, 10–12
unleashing within your company, 9–10
why yours should win, 13–15
unit economics, 200–201, 216
in Build to Automate, 220
United Nations’ Sustainable Development Goals, 236
urgency, 13
user experience, 200
in Build to Validate, 218
playbook for, 219
US Steel, 272

value, option versus present, 16
Venture Building, 10
elements of success in, 26–29
people for, 34–49
preconditions for, 24–33
preparation for, 52
systematic process for, 10–12
venture capital, 15, 16, 28, 283
Venture Factories, 13, 20
basics for, 236–241
benefits of building, 231–232
building, 227–261
communication plans for, 254–255
compensation and, 243, 250
designing, 252–253
executive leadership for, 261–297
governance for, 242–243
how to build, 234–235
incubators versus, 228
new venture creation process for, 241
NVT members in, 45–46
objectives of, 236
onboarding and training for, 249–250
operations in, 251–252
physical, 232–233
specs for team members in, 244–245
talent plans for, 244–250
types of, 232–233
virtual, 233
Venture Factory Ambassadors, 243
viability, 69, 74–75
video conferencing, 59–60
visas, 54

Wang, Clement, 208–209, 218–219
WebEx, 208
websites, 56–57, 62
“Welcome to Accelerate” letter, 287–288
wholly owned subsidiaries, 48, 197, 240, 282, 284, 286
Wilde, Oscar, 58
wireframes, 62–63, 155–157
witness leading, 120
Wizard of Oz development, 218–219
Wordly, 61

Y Combinator, 175

Zoom, 59, 61
Zuora, 96, 208

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