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LESSONS IN FAILURE:SETTING UP ANINSURANCE COMPANY INGREECE(“YOU    WILL       F*CK UP – YOU BETTER GET USED TO IT”!)INTERN...
SOMETIMES YOU F*CK UP BIG …     Titanic (1912)                Search for aliens (1958)   The Lewinsky Scandal (1998)     1...
… AND SOMETIMES YOU GET LUCKY!Tower of Pisa (1372)   Corn Flakes (1894)   Post-it (1967)1,000,000              128,000,000...
FAILURE IS STILL VIEWED AS A TABOO …                               5.2 million books                               500 bil...
… BUT PEOPLE ARE WARMING UP TO ITJohnnie Walker (1998)   Nike (2006)      Apple (2012)Roberto Baggio          Michael Jord...
THE NATURE OF FAILURE HAS CHANGED …Neanderthal (40,000 BC)                         Modern Human (2012)                    ...
… AND THE STAKES ARE MUCH HIGHER     BOOKSTORES HAVE A HUGE        … OFTEN DISPLAYED NEXT TO A  NUMBER OF BOOKS, WHICH BUI...
WE ARE SETTING     UNREALISTIC   EXPECTATIONSIS “GENERATION Y”DESTINED TO FAIL? (THAT’S   YOU   BY THE WAY!)
IF THERE IS ONE MESSAGE WE WANT YOUTO TAKE AWAY FROM TODAY’S TALK IS THIS:IT’S OKTO FAIL!(YOU WILL   MOST DEFINITELY    DO...
WHAT’S OUR STORY?¡  A NEW, DIRECT INSURANCE COMPANY.¡  “CHANGING THE GREEK INSURANCE MARKET, ONE POLICY AT A TIME”.   ¡...
FINDING INVESTORS WAS TOUGH …2,500 approaches   300 meetings     1:8     11 investors   1:27       1.5 years
… THAT’S A 99.56% REJECTION RATE! THERE IS A HIGHER CHANCE OF BETTING   ALL YOUR MONEY ON   BLACK     IN THE ROULETTE FOR ...
PHILOSOPHICAL   QUESTION   OF THE DAY:ARE ENTREPRENEURSATTRACTED TO THERISK OF FAILURE?(TO BE DISCUSSED OVER   ALCOHOL!)
THREE KEY LEARNINGS:A.   GET IN THE RING - YOU CANNOT SUCCEED WITHOUT TRYING.YOU WILL FALL - HOW   QUICKLY   CAN YOU GET U...
THREE KEY LEARNINGS:B.   IT IS THE PERCEPTION OF FAILURE THAT SCARES PEOPLE.OWN YOUR      FAILURE – DON’T LIVE SOMEONE ELS...
THREE KEY LEARNINGS:C.   THE ODDS WILL ALWAYS BE AGAINST YOU – PLAN WELL.BELIEVE IN THE DREAM, KEEP SMILING AND    ENJOY T...
AND THREE BOOKS THAT INSPIRED US
THANK YOU
Hellas Direct - International Day for Failure
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Hellas Direct - International Day for Failure

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Presentation by Emilios and Alexis, co-founders of Hellas Direct, to students at the Athens University of Economics and Business. [International Day for Failure - 11 Oct 2012]

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Transcript of "Hellas Direct - International Day for Failure"

  1. 1. LESSONS IN FAILURE:SETTING UP ANINSURANCE COMPANY INGREECE(“YOU WILL F*CK UP – YOU BETTER GET USED TO IT”!)INTERNATIONAL DAY FOR FAILUREATHENS UNIVERSITY OF ECONOMICS AND BUSINESS11 OCTOBER 2012
  2. 2. SOMETIMES YOU F*CK UP BIG … Titanic (1912) Search for aliens (1958) The Lewinsky Scandal (1998) 1,502 USD 200,000,000,000 USD 40,000,000 people dead* space programme investigation* and a Leonardo di Caprio movie
  3. 3. … AND SOMETIMES YOU GET LUCKY!Tower of Pisa (1372) Corn Flakes (1894) Post-it (1967)1,000,000 128,000,000,000 USD 3,400,000,000tourists per year bowls per year revenue per year
  4. 4. FAILURE IS STILL VIEWED AS A TABOO … 5.2 million books 500 billion words Books mentioning the word “success” 6x Books mentioning the word “failure” 1840 1920 2000 Source: nGram Viewer
  5. 5. … BUT PEOPLE ARE WARMING UP TO ITJohnnie Walker (1998) Nike (2006) Apple (2012)Roberto Baggio Michael Jordan Steve Jobs
  6. 6. THE NATURE OF FAILURE HAS CHANGED …Neanderthal (40,000 BC) Modern Human (2012) HIERARCHY OF NEEDS SELF ACTUALISATION ESTEEM LOVE SAFETY PHYSIOLOGICAL NEEDSFailure? No food. Failure? No Likes.
  7. 7. … AND THE STAKES ARE MUCH HIGHER BOOKSTORES HAVE A HUGE … OFTEN DISPLAYED NEXT TO A NUMBER OF BOOKS, WHICH BUILD SECTION OF SELF-HELP BOOKS ON UNREALISTIC EXPECTATIONS … HOW TO DEAL WITH FAILURE. D’OH!
  8. 8. WE ARE SETTING UNREALISTIC EXPECTATIONSIS “GENERATION Y”DESTINED TO FAIL? (THAT’S YOU BY THE WAY!)
  9. 9. IF THERE IS ONE MESSAGE WE WANT YOUTO TAKE AWAY FROM TODAY’S TALK IS THIS:IT’S OKTO FAIL!(YOU WILL MOST DEFINITELY DO SO)
  10. 10. WHAT’S OUR STORY?¡  A NEW, DIRECT INSURANCE COMPANY.¡  “CHANGING THE GREEK INSURANCE MARKET, ONE POLICY AT A TIME”. ¡  WE ARE HIGHLY SPECIALISED. ¡  WE LIVE AND BREATHE TECHNOLOGY. ¡  WE LOVE NUMBERS.¡  23 PEOPLE IN 3 COUNTRIES.¡  3 YEARS TO PUT THIS ALL TOGETHER.¡  WE F*CKED UP TOO MANY TIMES TO MENTION…
  11. 11. FINDING INVESTORS WAS TOUGH …2,500 approaches 300 meetings 1:8 11 investors 1:27 1.5 years
  12. 12. … THAT’S A 99.56% REJECTION RATE! THERE IS A HIGHER CHANCE OF BETTING ALL YOUR MONEY ON BLACK IN THE ROULETTE FOR 7 CONSECUTIVE TIMES … … AND WINNING!
  13. 13. PHILOSOPHICAL QUESTION OF THE DAY:ARE ENTREPRENEURSATTRACTED TO THERISK OF FAILURE?(TO BE DISCUSSED OVER ALCOHOL!)
  14. 14. THREE KEY LEARNINGS:A. GET IN THE RING - YOU CANNOT SUCCEED WITHOUT TRYING.YOU WILL FALL - HOW QUICKLY CAN YOU GET UP AGAIN?
  15. 15. THREE KEY LEARNINGS:B. IT IS THE PERCEPTION OF FAILURE THAT SCARES PEOPLE.OWN YOUR FAILURE – DON’T LIVE SOMEONE ELSE’S DREAM.
  16. 16. THREE KEY LEARNINGS:C. THE ODDS WILL ALWAYS BE AGAINST YOU – PLAN WELL.BELIEVE IN THE DREAM, KEEP SMILING AND ENJOY THE RIDE!
  17. 17. AND THREE BOOKS THAT INSPIRED US
  18. 18. THANK YOU

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