Startup Failure Is Not What You Think It Is
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Fresh look at the Startup Failure
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Startup Failure Is Not What You Think It Is
- 1. STARTU P FAILURE IS NOT WHAT YOU THINK IT IS Sergey L. Sundukovskiy, Ph.D.
- 2. FAILURE “I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. 26 times I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life, and that is why I succeed.” -Michael Jordan
- 3. FAILURE “Failure should be our teacher, not our undertaker. Failure is delay, not defeat. It is a temporary detour, not a dead end. Failure is something we can avoid only by saying nothing, doing nothing, and being nothing.” -Denis Waitley
- 4. Sergey L. Sundukovskiy Raken, CTO/CPO & Founder Companies: Capital One, PushPoint, Cinsay, LowerMyBills, DIRECTV, CBW Interests: Entrepreneur, Speaker, Mentor, Advisor Education: BA CS, MS IT, PH.D. Business Sergey L. Sundukovskiy, Ph.D. has over 20 years of experience serving in capacities of Chief Technology Officer, Chief Information Officer and Chief Product Officer. Sergey specializes in implementation of subscription based high volume SaaS platforms, with strong emphasis on early stage product development and market deployment. Specific areas of expertise include A/B Testing, Big Data, Video Management, eCommerce, RTB platforms and Cloud Computing. Education: B.A. in Computer Science from the University of California, San Diego, and an M.S. in Information Technology from the University of Liverpool. Ph.D. in Information Technology Management from the School of Business and Technology, Capella University. INTRODUCTION BACKGROUND &
- 5. HISTORY OF FAILURE aliens Did NOT build pyramids Testing (Success)Testing (Failed)Testing (Failed)
- 6. SERIAL FAILURE The Story of one dissertation
- 7. “I find Your Lack of Testing disturbing” 7 UNFAIL TESTING
- 10. Failure on the Way to Success Lose the Battles Win the War FAILURE TYPES
- 11. Complete Failure Fills Ecosystem with Experience WHY IS FAILURE IMPORTANT?
- 12. Partial Failure Second Lease on Life WHY IS FAILURE IMPORTANT?
- 13. Failure of the Way to Success Completes Success Cycle (Failure -> Learning -> Success) WHY IS FAILURE IMPORTANT?
- 14. why is failure so Common? Failing is SO HOT right now! REASONS FOR FAILURE
- 15. what does Failure Look Like?PERFECT FAILURE • No Addressable Problem • No Market • No Effective Team • No Customers • No Product • No Product Positioning • No Money
- 16. Beginning of the Startup journey REMARKABLE SIMILARITY
- 17. End of the Startup journey REMARKABLE SIMILARITY WOAH… Deja Vu!
- 18. building a Startup An Exercise In Unfailure BUILDING A STARTUP
- 19. • Constant Failure • Must Have the Right Tools • Impossible to Get Lucky and Win • Team Gets It Done • It Is Even More About Execution • It Is All About Micro-Pivots WHAT DO STARTUP BUILDING AND GOLF HAVE IN COMMON?
- 20. Micro-Pivots after Many Failures in… ROAD TO SUCCESS
- 21. Unfail startup Founding Team We’ll hit something, eventually. ROAD TO SUCCESS
- 22. Unfail minimal Viable Product ROAD TO SUCCESS
- 25. • Too Many Steps to Get There Wrong Way To Unfail (Tail of two Extremes) • Hole in One Win Strategy • Listening to Too Many People at Once • Giving Up Too Soon UNFAILURE STRATEGIES
- 26. diving Lesson GIVING UP TOO SOON KEEP GOING!
- 27. • Have Big Targets To Hit Right Way to Unfail • Unfail Most Important Things First • Change Strategy at the Right Time • Have Very Clear Measuring Strategy UNFAILURE STRATEGIES
- 29. Difficult Failure Recovery • Team • Operational MO aka Process • Conflict Resolution • Product Focus FIRST THINGS FIRST st
- 30. Change of Direction (Tripwires) • High Churn • High Acquisition Cost • Low Viral Score GOLDEN RULE
- 31. Jim Collins Return on Luck GET LUCK Y
- 32. Do NOT Need to Outrun a Shark, Just Your Buddy NEAREST DANGER
- 33. First Who, then what, then how UNFAIL FOUNDER S
- 35. • Complementary Skillset • Worked Together Before • Similar Work Ethic • Similar Commitment Level • Similar Conflict Resolution Style • Can Disagree and Commit • Ideal Number of Co-Founders is 3 CO-FOUNDER UNFAIL CRITERIA
- 36. Get the Right People on the bus UNFAIL TEAM
- 37. Team Building UNFAIL STRATEG Y Weakest Link Problem superstars do not save the day
- 38. T – Shaped Hire IDEAL Hire
- 40. • Wireframing • Mocking • Clickable Prototype • Dynamic Prototype • MTP • MVP UNFAIL PRODUCT LIFECYCLE TESTING TESTING TESTING TESTING TESTING