Venture Catalyst

Venture Catalyst: The Five Strategies for Explosive Corporate Growth

By Donald L. Laurie

About the Author

Donald L. Laurie is the founder and chairman of Laurie International and Oyster International LLC. He is an advisor to industry leaders and an investor in early-stage ventures. Laurie has also authored The Real Work of Leaders, providing invaluable insights into leadership and business growth strategies. His extensive experience and deep understanding of corporate dynamics make him a credible and authoritative voice on the subject of corporate growth through ventures.

Main Idea

"Venture Catalyst" by Donald L. Laurie outlines five strategic pathways for companies to achieve explosive and sustainable growth. These strategies focus on incorporating ventures into corporate strategy, emphasizing the creation and nurturing of new business enterprises that entail a certain amount of risk. Laurie's approach is based on extensive interviews with corporate leaders and venture capitalists, as well as his own experiences as a high-level corporate advisor. The main idea revolves around using innovative strategies to drive growth and ensure long-term success.

Table of Contents

1. Invent the Next Great Business
2. Invest in the Next Great Business
3. Venture the Next Great Business
4. Partner the Next Great Business
5. Acquire and Integrate the Next Great Business

Invent the Next Great Business

Laurie emphasizes that companies must leverage their expertise in technology, marketing, and manufacturing to succeed in inventing new businesses. He uses Corning as a prime example, noting that 84% of Corning's revenue comes from products that did not exist five years ago. Corning's systematic approach includes:

• Building Knowledge: Cross-functional teams identify trends and customer needs. These teams, composed of technicians and managers, meet regularly to develop a common view of trends and other events shaping the future. Each member relates these trends to customer needs and identifies what each product brings in relation to those needs.
• Determining Feasibility: Involves customers in experimenting with new applications. Corning addresses questions like whether the technology will achieve its intended objective, if the idea can be developed into a product with significant market potential, and if a working prototype can be built.
• Testing Practicality: Ensures there is a substantial market and acceptable price-to-value ratio. Cross-functional teams in marketing, manufacturing, and research test a prototype to decide if it should proceed to development.
• Proving Profitability: Assesses technical competencies and cost leadership. Corning determines whether it has any advantages that would make the new product profitable before proceeding.
• Commercializing: Continuously improving and extending product lines. As soon as a new product is launched, Corning takes it back to the drawing board for further improvement and development of new breakthrough businesses.

"Discovering Beyond Imagination" - Corning's corporate motto captures their focus on addressing unmet customer needs.