New to Big: How Companies Can Create Like Entrepreneurs, Invest Like VCs, and Install a Permanent Operating System for Growth by Christina Wallace, David S. Kidder

Creating an environment that encourages innovation and growth is a constant challenge for large companies. Especially today, when technology and consumer preferences are changing rapidly, companies must be able to evolve quickly if they want to stay competitive. In her book New to Big, Christina Wallace copes with the challenge of how to create a culture in big companies that encourages ideas and helps to turn those ideas into viable products. Drawing on her experiences as a entrepreneur, venture capitalist, and advisor to large organizations, Wallace provides advice on how to cultivate an environment of innovation and growth in big organizations by thinking like an entrepreneur, investing like a venture capitalist (VC), and creating a permanent operating system for growth.

In order to cultivate a culture of innovation and growth, big companies must learn to think like entrepreneurs. According to Wallace, this involves taking risks and testing boundaries. Companies must be willing to make unconventional decisions and experiments. This kind of experimentation does not guarantee success, but it's necessary to stay on the cutting-edge and reflect the changing market.

To support entrepreneurial experimentation and growth, Wallace suggests careful VC-style investments. Companies should invest in technology, people and strategies that support their long-term objectives, while also giving employees freedom to experiment. Focus should also be given to developing talent and investing in good managers and mentors. This creates a mutually beneficial environment, where employees can learn and grow, and companies can take advantage of their expertise and fresh ideas.

Finally, Wallace suggests creating a permanent operating system for growth. This system should combine the entrepreneurial mindset, VC-style investments, and a feedback loop that continuously adapts to market conditions. These components can be integrated into existing structures, allowing companies to continue scaling and responding to change without disrupting operations. The key is to create systems that empower employees to take initiative, while also giving them enough support to ensure success.

Ultimately, New to Big offers practical advice on how large organizations can create a culture of innovation and growth. By fostering an entrepreneurial mindset, investing in people and technology like VCs, and creating an agile operating system, companies can stay competitive in a rapidly changing market. Furthermore, Wallace's advice can help bring strategic initiatives to life, transforming ideas into viable products and services. For companies that want to create a culture of innovation and growth, New to Big provides the necessary framework.