3. Keeping track of your budget

If you want to give your explorers the freedom they need to succeed, you have to let them manage their own budgets as they see fit. If you start by imposing the traditional monthly financial reporting (as is the practice in the operating world), you're not giving them the right signal! It's better to do things differently. For example, you could follow this logic.

3.1 The acceptable loss you have been assigned for exploration must be clearly explained to the exploration team.

This is the maximum amount of money she has to explore. When this credit is exhausted, the adventure (and the expenses) stop. Clearly, this sum won't be enough to turn the exploration into a business success! It's a start-up budget. Beyond that, they'll need to find internal or external...

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Keeping track of your budget