What is the Art of Failure? An attitude and mind set … of inquisitiveness and discovery joyfully, strategically intelligently embracing the drive to build innovative and entrepreneurial start ups … an ongoing trial and error, learning process
What is the Art of Failure? A set of emerging approaches, methodologies and resources that reflect Valley fast failure perspective. Super low entry cost ventures Blank Customer Discovery process Agile Development methodologies Y-Combinator incubation approach Psychology & Chaldini influence tools Global crowd sourcing & crowd funding resources
What is the Art of Failure? An attitude and mind set… A set of approaches and tools
Risk Continuum Model Risk Level Fear of Failure
One of the greatest fears people have Related to Fear of Criticism or Rejection Incapacitates people
Failure Fear of Failure – Overcoming Take Action Persist Dont take failure personally Do things differently Dont be so hard on yourself Treat the experience as opportunity to learn Look for possible opportunities that result from the experience Fail forward, fast
Fear of Failure Look at mistakes, not as as outcomes or results, but as permanent and personal Fear of failure is self-limiting Failures of omission as the biggest failure of all! Failures of omission as the biggest failure of all!
Critical to thoughtfully consider the lines Risk Continuum Model Critical to thoughtfully consider the lines Risk Level
Critical to thoughtfully consider the lines Risk Continuum Model Critical to thoughtfully consider the lines Risk Level Clear understanding of unacceptable risks enables… …bold action outside the danger zone What risks should we rule out? What risks can we realistically manage?
Failure as a Balancing Act Too Much Risk (Russian Roulette) Too Little Risk (Homebound) Manageable Risk Zone
Failure as a Balancing Act Manageable Risk Zone vs Comfort Zone Too Much Risk (Russian Roulette) Too Little Risk (Homebound) Manageable Risk Zone Emotional Comfort Zone
Failure as a Balancing Act Too Much Risk (Russian Roulette) Too Little Risk (Homebound) Manageable Risk Zone Emotional Comfort Zone As an entrepreneur, my goal is to start life transforming ventures. while limiting self to manageable risks?
Agenda Day 1 TopicSpeakerTime Introduction Venture Capital: Failure Embracing Model Eli Zelkha9:00 Failure and Customer Discovery & Development Steve Blank, Venture Capitalist, Professor at U.C. Berkeley, Entrepreneur: Epiphany, MIPS, Convergent.. 10:00 Student Diagnostic Assessment: Personality and Failure Risk All 11:00 Lunch 12:00 Frameworks & Models of Failure Eli Zelkha1:00 Student Exercise: Life timeline exercise Personal Reflections on Failure All2:00 Building Indias First Coffee Shop Chain Sashi Chimala CEO Quickies, PayPod, Indigo 3:00 Samasource: A Start Up Providing Dignified Work for Marginalized People in Scale Claire Hunsaker Vice-President, Strategy & Product Samasource 4:00
Agenda Day 1 TopicSpeakerTime IntroductionEli Zelkha 9:00 Starting a Y Combinator CompanyMatthew Brezina EntrepreneurXobni 9:15 Student Discussion: Y Combinator & Why Startups Fail? All 10:30 Start up Success & Failure in Silicon Valley Ariel Poler Entrepreneur, Angel, Advisor IPRO, Topica, Kana, LinkExchange, StumbleUpon, Odeo, Flixster and more ! 11:00 Lunch 12:00 TBD 1:00 Failure & the Concepto Venture Business Model Eli Zelkha / Simon Birrell 2:00 Global Success & Failure in Technology & Social Ventures Kamran Elahian Entrepreneur, VC, Philanthropist CAE, Cirrus Logic, NeoMagic, Centillium, Momenta, Schools Online, Global Catalyst Foundation Schools OnlineGlobal Catalyst Foundation 3:30 Closing RemarksEli Zelkha 4:45