Pondering entrepreneuring it seems like there’s a difference in approach available to startups and established enterprises. Startups are in a bucket that I call “original” entrepreneuring. The assets that they have to work with are at best and idea, personal wealth and skills, and personal time. The rest needs to be acquired or developed. Established enterprises likely already have critical assets that can be extended or repurposed in order to create new businesses. I call using these assets [1. Note that these assets are an owned platform.] for entrepreneurial purposes “lateral” entrepreneuring. This gives an enterprise a speed and scalability advantage over an original startup.
This feeds my increasing skepticism about whether or not it’s a good idea for an established enterprise to “act like a startup”. It makes sense to put some investment in this approach since lateral entrepreneuring tends to focus on adjacencies. Most of the time though it seems likely that lateral entrepreneuring will yield the faster and larger returns.