In this episode, learn how to manage spinout from the employer's side, how you can best bring out innovation within your team, and how to make appropriate decisions amidst spinout culture. Join Tom Wheelwright as he discovers how we can create a culture that invites and encourages innovation within our small business with his guest, André Laplume. Dr. André Laplume, co-author of SPINOUT VENTURES, is a full professor of entrepreneurship and strategy at the Ted Rogers School of Management, part of Toronto Metropolitan University. Laplume researches the intersections where new entrants and incumbent firms meet to break down the barriers facing entrepreneurs while helping managers deal with entrepreneurial ambitions in their organizations. His research has appeared in top journals like Human Relations, Journal of International Business Studies, and Journal of Business Research, among others. He received his PhD in Management from the University of Manitoba in Winnipeg and spent seven years at Michigan Tech, teaching in its MBA program. Earlier, Laplume was a business and information technology consultant, helping clients integrate businesses and automate units. He is a frequent judge at entrepreneurship pitch competitions and an experienced entrepreneur, having launched a startup while in Michigan. Order Tom’s book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at: https://winwinwealthstrategy.com/ SHOW NOTES: 00:00 – Intro. 03:20 – What is "Spinout"? 07:08 – The Power of Strategic Alignment for Innovations. 11:45 – How to Make Spinouts Positive. 15:27 – Empowering Innovation. 19:05 – Cooperating vs. Competing. 21:11 – Upsides to Spinouts (Relationships, Steps for Business Owners, etc.) 24:13 – Spinout vs. Startup. 31:18 – To Keep or Not to Keep? 33:51 – First Steps to Take. Tom Wheelwright, #CPA is a Best-Selling Author, Entrepreneur & Worldwide Authority on Tax. https://wealthability.com/tom/ ****************************** Resources ********************************** Tom’s Book: Tax-Free Wealth https://taxfreewealthbook.com Visit WealthAbility® https://wealthability.com/ Sign up for Tom’s Free Weekly Report https://wealthability.com/getreport/ Schedule A Call With My Team https://wealthability.com/schedulecall/ **************************** Social Media ********************************* Facebook (Tom Wheelwright) https://www.facebook.com/Tom.Wheelwright.CPA/ Facebook (WealthAbility®) https://www.facebook.com/4wealthability/ Twitter (WealthAbility®) https://twitter.com/WealthAbility Instagram (WealthAbility®) https://www.instagram.com/wealthability_now/ Youtube (Tom Wheelwright) https://www.youtube.com/@TomWheelwrightCPA Looking for more on Andre Laplume? Books: "Spinout Ventures: Transitioning from Employees to Entrepreneurs" DISCLAIMER: WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction. ----- Disclaimer: The information provided in this video is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument or engage in any financial activity. The content presented here is based on the speaker's personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.