Problem curation and lean methodology with Pete Newell

Pete Newell joined me on the Acquisition Talk podcast to discuss a range of issues around problem curation and lean methodology. He is the CEO of BMNT, a firm that helps clients build problem solving teams to address significant issues. He is also on the board of Hacking 4 Defense and is a former Colonel who led the Army's Rapid Equipping Force just prior to retiring. During the episode, we discuss a range of issues including: - How to build and maintain discipline through the innovation pipeline - Advice for business leaders in the Covid-19 crisis - How Hacking 4 Defense is developing a new generation of entrepreneurs - What it means to be disciplined in an agile/iterative environment - Ways large enterprises can break away from their self-sabotaging processes The episode features a host of lessons learned from Pete's years of experience transitioning technologies. During his time leading the Rapid Equipping Force, Pete was able to take a $150 million budget and build an investment portfolio more than five times that size through partnerships and other methods. Ultimately, the REF transitioned 170 programs into production during Pete's time there. Pete explains how the Pentagon has become quite good at opening the aperture for new companies and ideas to get small projects started. More work is needed, however, on giving companies showing success multi-year/multi-million dollar programs of record. One problem he points to is in the handoff phases through the innovation pipeline. He recommends thinking about: (1) how we move people through stages; (2) how contract language should change as projects mature; and (3) what sources of funding are available. Until the government is able to demonstrate more successful transitions, it won't impact the psyche of entrepreneurs and investors who still look upon public sector with suspicion. This podcast was produced by Eric Lofgren. Soundtrack by urmymuse: "reflections of u". You can follow us on Twitter @AcqTalk and find more information at AcquisitionTalk.com.