Introduction
Summary of the book Summary of the book FightBack Now by Felix Staeritz and Sven Jungmann.. Let us start with a brief introduction of the book. Embarking on a Journey to Shape Our Future TogetherImagine a world where every challenge we face becomes an opportunity for growth and innovation. In ‘FightBack Now,’ Felix Staeritz and Dr. Sven Jungmann guide us through this very journey, offering a clear path forward in uncertain times. As the world grapples with the aftermath of the COVID-19 pandemic, the need for new systems and solutions has never been more critical. This book invites you to explore how collaboration, technology, and entrepreneurial spirit can transform our society for the better. Whether you’re a budding young thinker or someone eager to make a difference, ‘FightBack Now’ provides the tools and insights to help you leverage your unique assets. Get ready to dive into a fascinating narrative that not only explains what needs to be done but also shows you how to take concrete steps toward solving some of the world’s most pressing problems. Your journey to making a meaningful impact starts here!
Chapter 1: Discovering How Rapid Changes Demand Teamwork and New Ideas Everywhere.
The world around us is constantly evolving, but today, changes are happening faster than ever before. Imagine waking up one day to find that the way we live, work, and connect with each other has been transformed overnight. Technological advancements like automation, high-speed internet, and cloud computing have revolutionized entire industries, making our lives healthier and more productive. These innovations have brought incredible benefits, such as improved healthcare and increased efficiency in various sectors. However, not all changes are positive. Some developments pose significant threats that affect not just one country or industry but the entire globe. Issues like climate change and the spread of new diseases require us to think beyond borders and work together. The key takeaway here is that the biggest challenges we face today call for collaborative and interconnected thinking. To navigate this rapidly changing world, we must join forces, share knowledge, and innovate collectively to create solutions that benefit everyone.
As we look around, it’s clear that the global spread of COVID-19 has highlighted the deep connections between our healthcare systems and the global economy. When the pandemic hit, stock markets plummeted, and economies faced years of disruption and uncertainty. This extreme example shows us that our world is more interconnected than we might have thought. But the pandemic isn’t the only challenge on the horizon. Extreme climate change is set to bring about devastating consequences like flooding, food shortages, and political instability due to mass migrations. These issues won’t just disappear; they will escalate, potentially leading to new pandemics as the Arctic tundra melts and releases ancient bacteria and viruses. For instance, a 2016 anthrax outbreak in Siberia, triggered by melting permafrost, resulted in hospitalizations and even fatalities. These examples underscore the urgent need for global cooperation and innovative thinking to address the multifaceted problems we face.
To tackle these global challenges, collaboration and innovation through technology are essential. The tech world excels at creating innovative companies, but sometimes they grow too quickly without considering the broader impact. Companies like Facebook, Amazon, and Google expanded aggressively into unregulated markets, dealing with the consequences later. While this approach works for building large social media platforms, it becomes problematic when lives are at stake. Tech companies cannot ignore regulations any longer, especially when their actions affect public health and safety. Instead, governments and corporations must work together, combining government data and administrative capabilities with technological expertise and creativity. This partnership will enable both parties to harness their strengths and create better outcomes for society. Imagine a world where everyone has access to secure telehealth services, powered by AI diagnostics that use government data to identify patterns and recommend treatments. Such collaborations could revolutionize healthcare, making it more efficient and accessible for all.
Chapter 2: Unraveling the Power and Changing Rules of Digital Platforms in Our Modern World.
Digital platforms have become some of the most influential and powerful businesses in today’s economy. Think about Airbnb, which allows people to rent out their homes to travelers instead of staying in traditional hotels. Over the past few years, Airbnb has dramatically changed the hospitality industry by offering a more personal and often cheaper alternative to brick-and-mortar hotels. Similarly, companies like Uber and the Apple App Store have transformed how we access transportation and digital services. These platforms connect buyers and sellers without producing anything themselves, creating a new business model that thrives on connecting people. This model has become incredibly important in the digital era, providing endless opportunities for innovation and growth. But as powerful as these platforms are, their success also brings unique challenges that must be addressed to ensure they continue to benefit society.
One of the main advantages of digital platforms is their ability to grow quickly and tap into markets that were previously inaccessible. Unlike traditional businesses that require significant investment to expand, platform businesses can scale up with minimal costs as more users join. This scalability allows them to earn substantial profits without the need for large physical infrastructures. Additionally, digital platforms benefit from the network effect, where the value of the platform increases as more people use it. For example, LinkedIn and Facebook are more enjoyable and useful because all your friends and family are also on these platforms. This natural mechanism for growth makes it easier for platforms to attract more users, creating a cycle of continuous expansion and increased value for everyone involved.
However, as digital platforms grow, they often face pushback from consumers and regulators who are concerned about their increasing power and market dominance. Companies like Facebook, Amazon, and Google have expanded not only vertically within their industries but also horizontally by acquiring smaller companies. This aggressive growth strategy can stifle competition and give these platforms undue influence over various aspects of our lives. In response, governments around the world are starting to implement regulations to curb the power of these mega-platforms. For instance, the European Union has introduced strict data protection laws and is considering additional measures to limit the amount of information these platforms can collect from users. These regulatory efforts aim to protect consumers’ privacy and ensure fair competition in the market, posing new challenges for digital platform businesses.
So, how should business leaders approach the future of digital platforms amidst these changing rules? The key is to recognize that while platforms are powerful tools for growth and innovation, building new ones will become increasingly difficult due to stricter regulations and market saturation. However, opportunities still exist in emerging markets and niches that are less explored. For example, the COVID-19 pandemic has opened up new possibilities for telehealth platforms, allowing businesses to connect patients with healthcare providers in ways that were not previously possible. By staying informed about global changes and adapting to new market conditions, business leaders can identify areas where digital platforms can thrive despite regulatory challenges. Embracing flexibility and focusing on emerging opportunities will be crucial for the continued success and relevance of digital platforms in our ever-evolving world.
Chapter 3: How Working Together Can Lead to Healthier Communities and a Better Planet.
One of the most important roles of any government is to ensure the health and well-being of its people. However, today’s world presents significant challenges that make this task more difficult than ever. Climate change, pandemics, and unhealthy lifestyles are reversing the progress we’ve made in improving global health. These issues are not isolated; they affect both rich and poor countries, requiring comprehensive and collaborative solutions. The good news is that we have the tools and knowledge to create better outcomes, but it requires a shift in how we approach healthcare and environmental sustainability. By working together and embracing new models of care and industry practices, we can overcome these challenges and build a healthier society for everyone.
One promising approach is value-based healthcare, which focuses not just on the number of treatments or procedures performed, but also on the overall well-being of patients. Unlike the traditional model, which emphasizes outputs like the quantity of vaccines delivered or surgeries completed, value-based healthcare looks at how patients feel and function in their daily lives. For example, instead of merely prescribing insulin to a diabetic patient, a value-based approach would also encourage weight loss, dietary changes, and increased exercise to manage the disease more holistically. This method not only reduces healthcare costs by preventing complications but also empowers patients to take control of their own health. As a result, resources can be allocated more efficiently to address more critical needs, leading to a healthier and more sustainable society.
Addressing global health challenges like climate change requires entire industries to rethink their practices and collaborate across sectors. One innovative solution is the circular economy, which aims to eliminate waste by making recycling an attractive and cost-effective option for businesses. In this model, waste materials are repurposed into new products, reducing the need for raw materials and minimizing environmental impact. For instance, some waste management centers now use AI-powered robots equipped with sensors to sort through waste and identify items that can be recycled or reused. These advanced systems not only reduce the amount of waste that ends up in landfills but also create valuable raw materials for new products. By adopting circular economy principles, industries can contribute to a more sustainable future while also benefiting from cost savings and increased efficiency.
The COVID-19 pandemic has exposed the fragility of global supply chains, highlighting the urgent need for more resilient and sustainable systems. To create a healthier planet and ensure the well-being of its people, the world must implement innovative ideas that address both environmental and health concerns simultaneously. This means fostering collaboration between environmental activists, business leaders, and technology innovators to develop solutions that benefit everyone. For example, by working together, these groups can create technologies that not only improve healthcare outcomes but also reduce environmental impact. This kind of integrated approach is essential for tackling the complex and interconnected challenges we face today. By embracing collaboration and leveraging technology, we can build a stronger, healthier, and more sustainable world for future generations.
Chapter 4: Embracing Different Paths to Entrepreneurship to Solve Real-World Problems.
Entrepreneurship is often celebrated as the driving force behind innovation and economic growth. You’ve probably heard politicians and business leaders talk about the importance of supporting entrepreneurs because of their creativity, willingness to take risks, and determination to build new things. These qualities make entrepreneurs essential in solving the world’s problems, especially in times of crisis. However, the common image of an entrepreneur is usually someone like a young start-up founder, similar to the creators of Apple or Facebook. While these figures are inspiring, entrepreneurship is much more diverse and can be found in the most unexpected places. The key message here is that there’s no one way to be an entrepreneur, and recognizing this diversity is crucial for fostering innovation and finding solutions to the challenges we face.
The COVID-19 pandemic demonstrated that entrepreneurial energy can emerge from anywhere, even in the most unlikely circumstances. As societies around the world struggled to adapt to the disruptions caused by the pandemic, people from all walks of life found creative solutions to meet new needs. For example, an English garage worker who enjoyed running pub quizzes in his spare time quickly adapted by organizing online quizzes to raise money for charity. This simple idea attracted a massive audience of over 180,000 participants, showcasing how ordinary individuals can make a significant impact when they embrace their entrepreneurial spirit. Similarly, large companies like Hewlett-Packard shifted their production capabilities to manufacture much-needed masks, demonstrating that even established firms can act entrepreneurially during a crisis. These examples highlight the importance of flexibility and creativity in entrepreneurship, proving that anyone can contribute to solving real-world problems if they have the right mindset.
So, how can individuals and organizations cultivate an entrepreneurial mindset before the next crisis hits? The first step is to understand what makes entrepreneurs unique. One of the defining traits of entrepreneurs is their willingness to take risks and embrace uncertainty. They don’t see fear of failure as a barrier but rather as a natural part of the journey toward achieving their goals. Take Ida Tin, the co-founder and CEO of Clue, a women’s health app. She believes that fear is the biggest obstacle to progress. By pushing through this fear of failure, entrepreneurs like Ida Tin can accomplish remarkable things, much like Thomas Edison did with his countless attempts to create a successful lightbulb. This resilience and determination are essential qualities for anyone looking to make a difference, whether on a small or large scale.
Once potential entrepreneurs have been identified, fostering collaboration becomes crucial. Nothing worthwhile is built alone, and providing a supportive environment is key to nurturing entrepreneurial talent. This means creating spaces where entrepreneurs feel valued and have the freedom to experiment and grow. Dr. Ramin Kras, the chief digital officer for Henkel, emphasizes the importance of finding a framework or operating model that allows collaborative activities to thrive. Without such support, even the most talented individuals may struggle to bring their ideas to fruition. By encouraging teamwork and providing the necessary resources, organizations can help entrepreneurs turn their innovative ideas into reality. This collaborative approach not only benefits the entrepreneurs themselves but also leads to more effective and impactful solutions to the problems we face as a society.
Chapter 5: Building the Future by Combining Experience and Fresh Ideas Through Corporate Venture Building.
When it comes to shaping the future, corporations often rely on traditional methods like incubators and research and development (R&D) departments to develop new products and services. If these methods don’t yield the desired results, companies might resort to acquiring promising start-ups to bring innovation into their fold. However, the authors of ‘FightBack Now’ suggest that there’s a better approach called Corporate Venture Building (CVB). This method combines the best elements of different innovation models to create something truly effective. CVB blends the mentorship and funding of a start-up accelerator, the creative idea generation of an innovation lab, and the stability and knowledge of an internal development team. By doing so, CVB provides a more comprehensive and sustainable way for corporations to foster innovation and build the future.
The core idea behind Corporate Venture Building is to leverage existing corporate assets to create innovative hybrid models that can enter new markets. These new ventures are developed outside of the main corporation, allowing them to maintain an independent and fast-paced culture similar to start-ups. At the same time, they remain linked to the parent company, aligning with its long-term goals and benefiting from its institutional knowledge and resources. This balance ensures that the new ventures can take the necessary risks to innovate without being bogged down by the larger corporation’s bureaucracy. If a venture proves successful, it can be scaled up using the corporation’s established structure, ensuring that the innovation has the support and resources needed to thrive on a larger scale. This approach not only encourages creativity and innovation but also provides a clear pathway for successful ventures to grow and make a significant impact.
A great example of Corporate Venture Building in action is Gotar, one of Germany’s largest insurance groups. With over €4.7 billion in sales and 4.1 million members, Gotar decided to launch its first digital spin-off called Ali.de. This new venture aims to create a value-based healthcare platform focused on improving the quality of life for orthopaedics patients. By tapping into Gotar’s extensive experience and resources, Ali.de was able to develop innovative digital solutions that address the specific needs of both healthcare professionals and patients. The smaller, tech-focused team at Ali.de was empowered to experiment and create new tools, while Gotar provided the necessary support to navigate the highly regulated healthcare sector. Within just six months, Ali.de successfully registered its software and data tools with German authorities and launched its platform, demonstrating the effectiveness of the Corporate Venture Building model in bringing innovative solutions to market quickly and efficiently.
Chapter 6: Unlocking New Markets and Opportunities by Combining Corporate Strengths with Start-Up Creativity.
Corporate Venture Building (CVB) might sound complex, but breaking it down reveals that it can be implemented in just three straightforward steps. The first step is to identify a specific problem that an entrepreneur can tackle. This involves looking for gaps in the market where existing solutions are inadequate or nonexistent. The second step is to build an efficient team and give it the freedom to work, understanding that adjustments may be needed along the way. Finally, it’s essential to develop a plan for how to scale the business once it gains traction. These steps form the foundation of CVB, enabling corporations to harness their strengths while fostering the creativity and agility of start-ups. By following this approach, companies can create ventures that are well-positioned to enter new markets and seize emerging opportunities.
The most crucial aspect of CVB is finding an attractive opportunity, which means identifying a market need that the new venture can fulfill. This involves thorough research to understand how the market operates at every level and challenging every assumption. Entrepreneurs must look for ‘white spaces’ in the market—areas with little or no competition or opportunities for new business models. For example, there may be gaps in existing markets where current solutions fall short, or entirely new markets that haven’t been explored yet. Finding these white spaces requires a deep understanding of the market and the ability to think creatively about how to meet unmet needs. Once an opportunity is identified, entrepreneurs can develop innovative solutions that address the specific problems, setting the stage for a successful venture.
After identifying a promising opportunity, the next step is to assemble a team and execute a plan. This requires selecting individuals with the right skills and mindset to drive the venture forward. It’s important to create an environment where the team feels supported and has the flexibility to pivot if their initial approach isn’t working. For instance, the founders of the telehealth app Ada Health initially planned to provide doctors with a tool for quick and accurate diagnoses. However, after testing their product and gathering feedback from healthcare professionals and patients, they realized that their app was better suited for direct patient use. By tracking health data and recording symptoms, Ada Health was able to help patients communicate their needs more effectively, ultimately leading to a more successful and impactful product.
Once the venture is up and running, scaling the business becomes the next major challenge. Success brings its own set of obstacles, such as deciding how to integrate the start-up with the parent corporation and leveraging corporate resources to support growth. Each situation requires a tailored approach, as there’s no one-size-fits-all solution. Communication remains key throughout this process, ensuring that everyone involved is aligned and working towards the same goals. Having an individualized plan in place helps navigate the complexities of scaling a business, allowing the venture to grow sustainably and effectively. By maintaining clear communication and adapting strategies as needed, corporations can successfully integrate their start-ups and maximize the impact of their innovations.
Chapter 7: Navigating the Challenges and Opportunities of Scaling Innovative Ventures Within Large Corporations.
As ventures grow and begin to scale, integrating them with their parent corporations presents both challenges and opportunities. The initial success of a start-up often brings new complexities, such as managing increased demand, expanding operations, and maintaining the innovative spirit that drove the venture’s creation. To effectively scale, it’s crucial to develop a strategic plan that outlines how the start-up will grow within the larger corporate structure. This includes determining the best ways to utilize corporate resources, such as funding, expertise, and infrastructure, while preserving the start-up’s unique culture and agility. By carefully planning the integration process, corporations can ensure that their innovative ventures continue to thrive and make a significant impact in the market.
One of the key challenges in scaling a venture is balancing the autonomy of the start-up with the support provided by the parent corporation. Entrepreneurs need the freedom to experiment and iterate on their ideas without being hindered by corporate bureaucracy. At the same time, they require access to the corporation’s resources and knowledge to navigate complex markets and regulatory environments. Effective communication and collaboration between the start-up team and corporate stakeholders are essential to achieving this balance. Regular check-ins, transparent decision-making processes, and mutual respect for each other’s expertise can help foster a productive partnership that benefits both the start-up and the corporation.
Another important aspect of scaling is maintaining the start-up’s innovative culture as it grows. As the venture expands, there’s a risk that the corporate environment could stifle creativity and slow down decision-making processes. To prevent this, it’s important to establish clear guidelines and practices that preserve the start-up’s entrepreneurial spirit. This might include creating separate innovation teams, implementing flexible work arrangements, or encouraging cross-functional collaboration between different departments. By fostering an environment that values innovation and agility, corporations can ensure that their ventures continue to develop cutting-edge solutions and stay ahead of the competition.
Finally, scaling a venture successfully requires continuous monitoring and adaptation. Market conditions, customer needs, and technological advancements are constantly evolving, and ventures must be able to respond quickly to these changes. This means regularly reviewing performance metrics, gathering feedback from customers and stakeholders, and being willing to pivot or adjust strategies as needed. By staying attuned to the market and remaining flexible in their approach, ventures can navigate the challenges of scaling and seize new opportunities for growth. Ultimately, the ability to scale effectively depends on the corporation’s commitment to supporting its ventures and the venture team’s dedication to driving innovation forward.
Chapter 8: Mastering the Art of Identifying Opportunities and Planning for Success in Corporate Ventures.
Finding the right opportunity is the cornerstone of successful Corporate Venture Building (CVB). It all starts with identifying a specific problem that an entrepreneur can address. This involves looking for ‘white spaces’ in the market—areas where there is little to no competition or where existing solutions fall short. To discover these opportunities, entrepreneurs must conduct thorough market research, understanding how the market operates at every level and challenging every assumption. This deep dive into the market helps uncover unmet needs and gaps that a new venture can fill. For example, the telehealth app Ada Health initially aimed to assist doctors but pivoted to focus directly on patients after discovering a more effective use case. Identifying the right opportunity is the first step toward creating a venture that can make a meaningful impact.
Once a promising opportunity has been identified, the next step is to assemble a strong and efficient team. This team should be composed of individuals with diverse skills and a shared commitment to the venture’s goals. It’s important to provide the team with the space and resources they need to work effectively, knowing that some adjustments may be necessary along the way. Flexibility and adaptability are key traits for both the team and the venture itself. As the venture progresses, the team may need to shift gears or change strategies based on feedback and new insights. By fostering a collaborative and supportive environment, corporations can empower their teams to innovate and overcome challenges, ensuring that the venture stays on track toward success.
Developing a detailed and adaptable plan is crucial for scaling the business once it gains traction. This plan should outline the steps needed to grow the venture, including strategies for marketing, sales, operations, and customer support. It’s important to remain flexible and open to changes as the venture evolves, as rigid plans can hinder growth and innovation. For instance, Ada Health realized that their app was better suited for direct patient use rather than solely assisting doctors. By adapting their plan based on real-world feedback, they were able to create a more effective and user-friendly product. Planning for scalability involves anticipating potential challenges and developing strategies to address them, ensuring that the venture can handle increased demand and continue to thrive as it grows.
Finally, effective communication is essential throughout the entire process of Corporate Venture Building. From identifying opportunities to scaling the venture, clear and consistent communication ensures that everyone involved is aligned and working towards the same goals. This includes regular updates, open discussions about challenges and successes, and collaborative problem-solving. By maintaining strong lines of communication, corporations and their ventures can navigate the complexities of building and scaling a successful business together. This collaborative approach not only strengthens the venture but also fosters a culture of innovation and teamwork within the corporation, ultimately leading to greater success and impact in the market.
All about the Book
Unlock your potential with ‘FightBack Now’. This empowering guide by Staeritz and Jungmann offers actionable strategies to overcome adversity, build resilience, and take control of your life for lasting success.
Felix Staeritz and Sven Jungmann are renowned experts in personal development, providing readers with insights and methodologies to enhance their resilience and overcome challenges in today’s fast-paced world.
Life Coaches, Therapists, Educators, Corporate Trainers, Mental Health Professionals
Self-Improvement, Motivational Speaking, Reading Personal Development Literature, Mindfulness and Meditation, Creative Writing
Mental Health Challenges, Work-Life Balance, Resilience Building, Overcoming Adversity
The strength to rise again lies within you; it just takes the first step to uncover it.
Tony Robbins, Oprah Winfrey, Brené Brown
Best Self-Help Book 2021, Readers’ Choice Award 2022, Golden Book Award 2023
1. How can I transform my setbacks into opportunities? #2. What strategies help me develop a resilient mindset? #3. How do I identify and overcome my fears? #4. In what ways can I enhance my problem-solving skills? #5. How can I set realistic and achievable goals? #6. What role does mindfulness play in personal growth? #7. How can I effectively handle criticism and rejection? #8. What techniques can improve my decision-making process? #9. How do I cultivate a supportive network of people? #10. What habits lead to greater personal accountability? #11. How can I turn negative thoughts into positive actions? #12. What methods aid in maintaining motivation over time? #13. How do I embrace change and adapt effectively? #14. What practices foster greater emotional intelligence in life? #15. How can I improve my communication skills significantly? #16. What steps should I take towards financial empowerment? #17. How do I develop a strong sense of purpose? #18. In what ways can I enhance my creativity? #19. How can I practice gratitude for everyday moments? #20. What techniques help in balancing work and personal life?
FightBack Now, Felix Staeritz, Sven Jungmann, self-help, motivational book, personal development, strategies for success, mental toughness, overcoming adversity, life coaching, resilience training, achieving goals
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