Derisking corporate business launches: Five steps to overcome the most common pitfalls
Launching new businesses is inherently risky. Successful launches are marked by how well companies connect with their customers.
High-profile start-ups backed by venture capital have grabbed the lion’s share of valuations, talent, and market impact in recent years. Meanwhile, incumbent companies seeking to respond to major shifts in market value creation have been gradually piecing together resources, budgets, and leadership. Now these incumbents are moving beyond innovation hubs, hackathons, and pilots to build more ambitious corporate ventures.
For incumbents and start-ups alike, the odds of success with a new business are low. Only 20 percent of start-ups launch successfully—in other words, reach product and market fit (see sidebar, “What defines product and market fit?”) and scale up—and just 24 percent of incumbents’ new ventures become viable companies, according to a recent McKinsey survey.1 Even so, start-ups continue to experience historic growth: the value of global venture deals has risen more than sixfold in the past decade, from $48 billion in 2010 to a projected $295 billion in 2019.
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Πηγή: mckinsey
