Course 2 - 1st session: Failure

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De-pe.com course @ UCN, Antofagasta, Class 2, topic: Failure

De-pe.com course @ UCN, Antofagasta, Class 2, topic: Failure

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  • 1. Class  2   Antofagasta,  Chile,  May  2011  www.de-­‐pe.com    @depeteam  With  the  Support  of:   1  
  • 2. •  Intro  •  Failure  in  Chile  •  What  is  a  Startup?  •  Why  Most  Startups  Fail?  •  What  is  a  Pivot?  •  Failure,  Pivot  &  Success  Stories  •  Summing  Up  •  Teams  
  • 3. Effects  on  Entrepreneurship  
  • 4. •  The  Punishment  Culture    
  • 5. •  Jesse’s  blog:  “He  explained  to  me  that  the   biggest  impediment  for  entrepreneurs  in  Chile   is  the  fact  that  Chilean  culture  harshly   punishes  failure  in  general.  All  the  other   Chileans  in  the  room  concurred…”    
  • 6. •  “…As  I  spoke  more  with  this  Chilean   businessman,  it  became  truly  apparent  how   debilitaSng  it  would  be  for  entrepreneurs  to   grow  up  in  a  society  that  punishes  failure”.      
  • 7. •  In  Chile,  what  happens  if  we  punish  failure?   –  We  don’t  share  (fear)   –  Country  in  status  quo  -­‐>  zero  innovaSon   –  We  don’t  learn   –  Cancer  for  Entrepreneurship  •  AccepSng  failure  is  an  important  characterisSc   of  any  entrepreneur.  
  • 8. •  Most  successful  startups  and  successful   people  were  failures  at  one  Sme.  Failure  is   important  learning  process.    The  ability  to   accept  failure  is  an  important  characterisSc  of   entrepreneurs.  
  • 9. What  kind  of  Startup  are  we?  
  • 10.  Ries,  Lean  Startup  (www.startuplessonslearned.com)  Eric  
  • 11. •  Our  goal  is  create  an  InsStuSon  not  just  a   product.  •  TradiSonal  Management  tacScs  fail.  •  Environment  of  extreme  uncertainty.  •  Not  just  2  people  in  a  garage.  
  • 12. Steve  Blank,  Four  Steps  to  the  Epiphany  (www.steveblank.com)  
  • 13. •  Nobody  knows  what  the  market  really  needs. (we  cant  predict  the  future)  •  Entrepreneurs  usually  build  before  test  their   Product/Business  Model  hypothesis.   •  Startups  can  fail  from  unproven  assumpAons.    –  We  believe  that  advancing  the  plan  is   progress.  •  You  have  to  push  your  product  out  in  order  to   be`er  listen  and  learn  from  the  market.    
  • 14. DePe  Team  
  • 15. •  Mike  Maples:  “You  Have  to  Be  Willing  to  Throw  it   all  away”.     –  InvesSng  a  months  of  Sme  in  an  idea,  it’s  hard  to  let  it   go  and  move  on  to  the  next  one.     –  Be`er  to  push  a  minimal  viable  product  out  and   validate  your  idea  quickly  –  we’ll  show  you  how  to  do   this.  •  Most  successful  startups  and  successful  people   were  failures  at  one  Sme.  Failure  is  important   learning  process.  -­‐>  Adapt  and  move  forward   (PIVOT)  
  • 16. Build,  Ship,  Pivot,  Repeat  
  • 17. •  Pivot  is  changing  your  business  model  (not  just   iteraSng  on  your  product)   –  It s the equivalent of taking a hit (no product traction) and spinning (product pivot) to find another path to the goal (product market fit).   Defense   Dribbling   Score  
  • 18. •  Change  of  direcSons  but  stay  grounded  in   what  we  have  learned.  •  If  we  speed  up  the  Sme  between  iteraSons,   we  increase  the  chances  of  success.   Build   Learn   Measure  
  • 19. •  Product  Pivot   DaSng  Site   ”Who  is  ho`er”  site   Group  SMS  
  • 20. •  Fuzhou  HC  Imp.  &  Exp.   1.  Impo.  Company  based  in  Chile.   a.  High  CompeSSon,  No  Partners,  worthless  revenue   model-­‐>  FIRST  PIVOT  /  Product  (Service).   2.  Sourcing  and  Procurement  Outsourcing   Company  based  in  Chile.   a.  No  experSse,  No  partners,  No  Customer  relaSonship,   No  Channels  -­‐>  SECOND  PIVOT  /  Customer  Segment.  
  • 21. 3  Sales  (Foreign  Markets)   Outsourcing  Company   based  in  China.   a.  New  target  market,  new   revenue  model.   b.  Buyers  and  Sellers  became   our  customers.  4  Today’s  PIVOT-­‐>  Sourcing   and  Procurement   Outsourcing  Company   based  in  Chile.  (yeah,  same   as  I  started)  
  • 22. Preguntas?