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Class	
  2	
  



                                            	    

Antofagasta,	
  Chile,	
  May	
  2011	
  
www.de-­‐pe.com	
  	
  @depeteam	
  



With	
  the	
  Support	
  of:	
  




                                                     1	
  
•    Intro	
  
•    Failure	
  in	
  Chile	
  
•    What	
  is	
  a	
  Startup?	
  
•    Why	
  Most	
  Startups	
  Fail?	
  
•    What	
  is	
  a	
  Pivot?	
  
•    Failure,	
  Pivot	
  &	
  Success	
  Stories	
  
•    Summing	
  Up	
  
•    Teams	
  
Effects	
  on	
  Entrepreneurship	
  
•  The	
  Punishment	
  Culture	
  
	
  
•  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…”	
  
	
  
•  “…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”.	
  	
  
	
  
•  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.	
  
•  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.	
  
What	
  kind	
  of	
  Startup	
  are	
  we?	
  
Ries,	
  Lean	
  Startup	
  (www.startuplessonslearned.com)	
  
Eric	
  
•  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.	
  
Steve	
  Blank,	
  Four	
  Steps	
  to	
  the	
  Epiphany	
  (www.steveblank.com)	
  
•  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.	
  
	
  
DePe	
  Team	
  
•  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)	
  
Build,	
  Ship,	
  Pivot,	
  Repeat	
  
•  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	
  
•  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	
  
•  Product	
  Pivot	
  

                               DaSng	
  Site	
  


                               ”Who	
  is	
  ho`er”	
  site	
  



                               Group	
  SMS	
  
•  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.	
  
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)	
  
Preguntas?	
  

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Course 2 - 1st session: Failure

  • 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  
  • 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.
  • 13.
  • 14.
  • 15.
  • 16. Steve  Blank,  Four  Steps  to  the  Epiphany  (www.steveblank.com)  
  • 17.
  • 18. •  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.    
  • 20. •  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)  
  • 21. Build,  Ship,  Pivot,  Repeat  
  • 22. •  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  
  • 23. •  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  
  • 24.
  • 25. •  Product  Pivot   DaSng  Site   ”Who  is  ho`er”  site   Group  SMS  
  • 26. •  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.  
  • 27. 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)