I believe startup thinking or entrepreneurial mindset is not limited to startups and entrepreneurs. I think anyone in any job can put on the hat of an entrepreneur and try to change their job, their career or even their big corporation. It is difficult but the challenges are no different than when one starts a new company or embarks on an entrepreneurial journey. Today we have a guest blog by Jessie VanderVeen, the Marketing Manager of TM Software a company that was born out of the financial crisis in 2008 within a large established IT company in Iceland. I think the story is inspiring and everyone who is part of a large organization can take note and innovate their customer service, product development or how you do your day to day activities. Here is the story of Intrapreneurship in Iceland:
By Jessica VanderVeen, Marketing Manager at Tempo
Tempo’s story is one of resourcefulness, resilience, and a bona fide need for adaptability and change during a time when Iceland’s economic environment demanded these very things. Our existence came to be out of a need to build agile solutions for real problems faced by real users — our own at TM Software.
Back in 2006, TM Software (a software development company headquartered in Reykjavík) implemented Atlassian’s popular project and issue-tracking platform, JIRA, throughout our organization. The developers on our custom web solutions teams loved JIRA, but were using an external platform to plan and track their time spent for client billing purposes, as well as for internal payroll. As a company that embraces Agile methodologies, this created a lot of hassle, headaches, wasted time, and even the possibility for inaccuracies. We needed an agile time tracking and planning solution that was so tightly integrated with JIRA, it felt like a part of the platform. We also wanted to measure how we used our time and whether we might improve our efficiency or better allocate our resources, and we needed reliable data to help us with those endeavors.
Initially, a handful of developers at TM Software was assigned to build the agile time tracking and resource planning plugin — now known as our Tempo Timesheets add-on — we so badly needed, and launched it for internal purposes. We ended up liking the solution we built so much, realized that there simply wasn’t a comparable solution available on the market, and launched it externally one year later with notable success.
For several years, TM Software focused solely on building custom web solutions for customers, so the decision to launch into product development was a significant one — a leap that ended up benefitting us more than we initially anticipated.
We were able to accomplish this transition by bootstrapping: staying lean, making strategic decisions, and expanding only as our needs and resources evolved.