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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.”
  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
  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
  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 • Slides will available on • I am reachable at and “liveink” on
  15. 15. Questions? “The art of a relationship is all in the appreciation.” ! “It could be better, but it’s good enough.”