In explaining the differences between startups and big businesses Friday morning at a Greater Madison Chamber of Commerce/Capital Entrepreneurs joint event at the new Madison Public Library, author and serial entrepreneur Debra Kaye stressed being fearless.

“Big businesses are still doing process innovation, in which middle management is afraid to tell (upper) management something went wrong, so they tweak it to death,” Kaye said in her presentation titled, “Breaking Myths.” “You need to be fearless, you need trial and error. Don’t tweak it to death.”

Kaye, who also was a speaker at Thursday night’s Greater Madison Chamber of Commerce Annual Dinner, used her vast experience from her days running marketing agencies and a skincare company to today as an innovation consultant to demonstrate her points.

For example, Kaye’s skin care company failed when she couldn’t keep up with “hidden costs,” such as paying sales staff at department stores.

“There are a lot of hidden costs–these costs will pull your business down,” Kaye said. “It’s important you discover them before you go into business.”

Kaye concluded her presentation by explaining how formalized brainstorming sessions don’t work, and how trends aren’t important because “we’re seduced by them.”

“Unless you have a lot of money, it’s impossible to follow trends,” Kaye said. “We think they’re here all the time, but they’re really not.”

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