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When Samsung NEXT approached Emily Becher in 2013 to open its New York City presence and create an entrepreneur-in-residence program, she was hesitant to accept the position. She knew Samsung as a multinational electronics behemoth — would they welcome the new and untried ideas that startup founders are known for? But after meeting with executives, Becher felt assured that they were more than willing to make the risky investments necessary to nurture startups. “Samsung NEXT was willing to commit and willing to understand that different outcomes need different processes,” Becher says.
Becher and Samsung NEXT were tackling a persistent problem in the world of entrepreneurship and venture capital: How might traditional companies work with lighter, nimbler startups to bring new ideas to the world? It’s not always easy, but from Samsung’s perspective, positioning the company to nurture startups is smart. It means the company can more easily be involved with new technologies and concepts, whether that means a partnership, acquisition or just access to an entrepreneurial point of view. But how could they make sure startups got enough out of the deal to make it worthwhile for them to work with Samsung NEXT?
Here are six tips Becher says she’s learned on the job.

Start with teams who have ideas, plans and goals

Early on, Becher tried to identify promising technologists and bring them in before they had a startup-ready idea. It didn’t go so well. “We tried a lot of things in the early days and some of them worked and some of them didn’t,” she says. As it turned out, the “random walk of a single technologist” didn’t always lead to actionable ideas. “It is very difficult to build a scalable company off a single individual,” says Becher. Now she makes sure that a startup already has a specific idea or goal and a team in place before they partner with Samsung NEXT.

Let startups keep the tools that work for them

If an entrepreneurial team is used to working in Slack, Google Docs, Trello or some other productivity application, imposing the corporation’s norms can break their rhythm and quash creativity, says Becher. She wanted to make sure that coming to Samsung NEXT didn’t mean a huge change in routine, even if some favored apps weren’t approved for use by Samsung employees. “We very quickly put rules in place giving exception to give them the right tools,” Becher says. “These are all the things we did in the background to make sure it seemed seamless.”

Leverage local ecosystems

“We’re a global organization,” Becher says. “We’re not sitting in the U.S., looking at best-of-breed technology and flying into Israel or Paris or Toronto. We have people on the ground there that are locals.” Instead of parachuting into a country and looking for talent, having offices staffed by people who understand the local landscape makes it easier to know who’s got the hottest ideas — and how to court them. “We have individuals in all those local markets building relationships with all those entrepreneurs,” says Becher.

Cut red tape

It can be slow to get money from venture funds overseas, so Samsung NEXT set up an American venture fund so they could close deals faster. “In the beginning, there was a lot of dialog about putting new processes in place that allowed us to be nimble, fast-moving and responsive to what was required to work with entrepreneurs,” Becher says. This way, Samsung NEXT was able to compress what would have been a nine-to-12 month process down to a few weeks. “When a company wants to close its funding round, not having to wait two or three weeks for us is incredibly important,” she says.

Hire entrepreneurs to work with other entrepreneurs

The Samsung NEXT offices are staffed by former entrepreneurs who understand the pressures startups are under — and who can create an office culture that “feels authentic” to incoming teams. “Culture is where we spend a lot of time and energy,” Becher says. “If you don’t create a culture, a culture is created for you.” It’s important that entrepreneurs arriving at the Samsung NEXT officers don’t get the feeling that this was “an organization playing a game.”

Keep it open-ended

Becher says it’s important that Samsung NEXT is able to work with startups in a variety of different modes, and without a fixed timeframe. “What we have learned is that we work with entrepreneurs in a way that makes sense to them,” she says. “We meet the entrepreneurs where they are.” An entrepreneur might interact with Samsung NEXT as an entrepreneur in residence, using their offices and resources; or they might come to Samsung NEXT for venture capital funds; or they might end up being acquired by the corporation, working with them as a partner; or just “end up coming to build something with us,” Becher says. “Our model is open.”

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Article produced in partnership with Samsung NEXT, Samsung’s innovation group that works with entrepreneurs to build, grow and scale great ideas. NationSwell has partnered with Samsung NEXT to find and elevate some of the most promising innovators working to close the opportunity gap in America. Click here to meet the finalists.

If you’re anything like the average American, you’ll spend over 90,000 hours — or about one-third of your lifetime — on the job. Given that astonishing amount of time, it makes sense to find a position that doesn’t leave you filled with dread, but with purpose. Whether you publicly announce your #CareerGoals or keep your dreams to yourself, we all want to feel like we’re making the world a better place.
Which begs the question: how do you find meaningful work? Or is the secret to simply find meaning in whatever work you do? Here’s what the experts say.

TRUST YOUR GUT

Before you accept a new job, do your due diligence, suggests career and executive coach Tammy Gooler Loeb. Seek out opinions and information that give you a realistic view of the work you’ll be doing and the atmosphere you’ll be doing it in. Keep an open mind and take some time to consider what you’ve learned. “There’s always an element of trusting one’s instincts,” says Loeb. Any red flags? “You may not want to take the risk, or do further research before going forward,” she says.

FOCUS ON MORE THAN YOUR STRENGTHS

Just because you’re good at math doesn’t mean you should become an accountant, says Loeb. Talent’s only one factor to consider when searching for a job that inspires you. “People are more engaged and motivated when their values, preferences and interests are aligned with their work and the culture of the workplace,” she explains. Of course, you want to see that your efforts have impact, but just as important, says Loeb, is that you’re getting positive feedback on the value of your contributions.

LOOK BEYOND YOUR OWN ROLE

Focus less on salary and title, and more on the mandate and mission of your organization. For instance, “a custodian in a hospital isn’t hands-on with patients, but their role is still helping sick people get better through ensuring the cleanliness of the facility,” notes Lisa Sansom, a leadership and organizational development coach and consultant. Identifying — and connecting with — a purpose that’s bigger than you will help you “get through the tough days, difficult clients or whatever setbacks you may encounter,” Sansom says. “It also allows you to retain your optimism and hope, and be more resilient.”

Meaningful Work 2 — Forming bonds with coworkers can help mitigate stress and increase happiness in the workplace.

FOSTER FRIENDSHIPS AT WORK

You get to choose your friends, but when it comes to coworkers, you usually don’t have much say on who you share an office with. That makes it crucial to actually like the people you’re surrounded by each day. “Social support has been widely demonstrated as one of the greatest buffers of stress and strongest predictors of happiness,” says Michael Woodward, PhD, an executive coach and the author of The YOU Plan. “The reality is that most people spend most of their waking hours working, so the stronger and more positive those workplace bonds, the better off you are.”

DO GOOD OUTSIDE THE OFFICE

Some workplaces offer paid time to do volunteer work, either coordinated as a team or individually. Many also fundraise for worthy causes. Take these opportunities whenever you can. “Volunteering is excellent for your mental well-being,” says Sansom, “but what’s really meaningful are real-life experiences that are done at the volunteer location with others.”

PRIORITIZE YOUR PERSONAL LIFE

How you live your life outside the office can impact what happens inside of it. When you’re stressed, your brain and body switch into defensive mode; your instinct is to get distance from any problems and retreat into yourself. On the other hand, “when you’re in a positive mind-set, you’re more open to new ideas and possibilities,” says Sansom. Make cultivating your time outside of the workplace a priority. Pursue hobbies, hone talents, spend time with friends. “When you’re content in your personal life, you’re more open to new opportunities and seeing the bigger picture at work,” Sansom says.

REFINE YOUR DEFINITION OF MEANING

Not all jobs have the same type of meaning. “‘Meaning’ with a capital M is your purpose, the ‘What do I contribute to the world to make it a better place?’ sort of meaning,” Sansom explains. “Small-m meaning is, ‘How do I make a silver lining out of this situation?’” While capital-M meaning jobs are ones where you typically feel you’re contributing to something larger than yourself, a position you hate is by no means worthless. Rather, it falls into the lowercase-m category. You do the best you can, learn something about yourself — “Hey, I’m more resilient than I thought!” — and move on …
Hopefully to a capital-M position that means the world to you.

Tag: thought leadership

Startup Lessons From a Global Giant