Lessons in FailureEntrepreneurship is a journey through zeroes

@liveink Nov 2013

Why are we talking about Failure?

Managing Your Own Psychology

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“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.”

http://bhorowitz.com/2011/04/01/what%E2%80%99s-the-most-difficult-ceo-skill-managing-your-own-psychology/

3 Things

A. Two Different Camps Regarding Failure

B. My journey through the zeroes (failures)

C.My lessons learned

Glorify Failure Camp

http://techcrunch.com/2010/08/04/google-wave-eric-schmidt/

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 Ventureshttp://joekraus.com/the-lies-we-tell-ourselves

My Journey

• 4 Founders • 7 Employees • $120k raised

• 2 Founders - 1 quit, 1 was fired • <1 Months runway

• Let go of team in Korea except for 2 engineers. Both engineers eventually quit !

• Raised money from family to float the company !

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• $80K in personal credit card debt and 2 weeks from not making rent

Lessons Learned

Stop comparing yourself to other people (no one is perfect)

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Manage your highs and lows (focus on recovery speed)

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WHY do I want to keep going?

Thanks!

• Remember the bad times, it gives you perspective when you overcome them

• Slides will be available on www.slideshare.com/liveink

• Reach me at www.twitter.com/liveink and “liveink” on www.messageme.com

Questions?

“The art of a relationship is all in the appreciation.”

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“It could be better, but it’s good enough.”