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Lessons in failure entrepreneurship is a journey through zeroes

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Lessons in failure entrepreneurship is a journey through zeroes

  1. 1. Lessons in Failure Entrepreneurship is a journey through zeroes @liveink Nov 2013
  2. 2. Why are talking about Failure?
  3. 3. Managing Your Own Psychology ! ! ! ! ! “By far the most difficult skill for me to learn as CEO was the ability to manage my own psychology… It’s like the fight club of management: The first rule of the CEO psychological meltdown is don’t talk about the psychological meltdown.” http://bhorowitz.com/2011/04/01/what%E2%80%99s-the-most-difficult-ceo-skill-managing-your-own-psychology/
  4. 4. 3 Things
  5. 5. A. Two Different Camps Regarding Failure B. My journey through the zeroes (failures) C. My lessons learned
  6. 6. Glorify Failure Camp http://techcrunch.com/2010/08/04/google-wave-eric-schmidt/
  7. 7. Focus on Success Camp In the world of entrepreneurship I think the most dangerous lie we tell ourselves is “I’ve learned more from my failures than my successes.” It’s simply not true. Joe Kraus, Google Ventures http://joekraus.com/the-lies-we-tell-ourselves
  8. 8. My Journey
  9. 9. • • • 4 Founders 7 Employees $120k raised
  10. 10. • • 2 Founders - 1 quit, 1 was fired <1 Months runway
  11. 11. • Let go of team in korea except for 2 engineers, both engineers eventually quit ! • Raised money from family to float the company ! ! • $80K in personal credit card debt and 2 weeks from not making rent
  12. 12. Lessons Learned
  13. 13. Stop comparing yourself to other people (nothing is perfect) ! Manage your highs and lows (focus on recovery speed) ! WHY do I want to keep going?
  14. 14. Thanks! • Remember the bad times, it gives you perspective when you overcome them (plug for www.idonethis.com) • Slides will available on www.slideshare.com/liveink • I am reachable at www.twitter.com/liveink and “liveink” on www.messageme.com
  15. 15. Questions? “The art of a relationship is all in the appreciation.” ! “It could be better, but it’s good enough.”

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