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Discover the art of failure and learn from your experiences. This workshop explores emerging approaches, methodologies, and resources that reflect Silicon Valley's "fast failure" perspective, allowing you to build innovative and entrepreneurial start-ups. Overcome the fear of failure and explore the risk continuum to find a balance between manageable risks and emotional comfort.
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The Art of FailureMonterey Institute of International StudiesEli Zelkhaeli.zelkha@gmail.com650-218-6789
The Art of FailureAdministrative E-mail: eli.zelkha@gmail.com Tel: 650-218-6789Address: 573 Patrol Road Woodside, CA 94062 Meetings: Welcomed by appointment. Please request via email.
What is theArt of Failure? An experiment
What is theArt of Failure? An attitude and mind set … of inquisitiveness and discovery joyfully, strategically intelligently embracing the drive to build innovative and entrepreneurial start ups … an ongoing trial and error, learning process
What is theArt of Failure? • A set of emerging approaches, methodologies and resources that reflect Valley “fast failure” perspective. • Super low entry cost ventures • Blank Customer Discovery process • Agile Development methodologies • Y-Combinator incubation approach • Psychology & Chaldini influence tools • Global crowd sourcing & crowd funding resources
What is theArt of Failure? • An attitude and mind set… • A set of approaches and tools
FailureQuotations • “I have not Failed, I have learnt 9,999 ways that won’t work.” - Thomas Edison • “People don’t Fail, it is the Plan, Strategies and Tactics that Fail.” - Paul Mc.Kenna • “Just do it” - Nike Sure, but how bad is the downside? Can I recover?
Risk ContinuumModel Risks beyond our ability to recover! Risk Level
Risk ContinuumModel Russian Roulette Risk Level
Risk Continuum ModelDimension of Risk Risk Level • Legal • Financial • Emotional • Reputation • …
Risk Continuum Model Risk Level Are there issues with too much “risk reduction”?
Danger Zone Risk Continuum Model Risk Level • Home Bound Paranoid
Danger Zone Risk Continuum Model Risk Level Fear of Failure
Fear of Failure • One of the greatest fears people have • Related to Fear of Criticism or Rejection • Incapacitates people
FailureFear of Failure – Overcoming • Take Action • Persist • Don’t take failure personally • Do things differently • Don’t be so hard on yourself • Treat the experience as opportunity to learn • Look for possible opportunities that result from the experience • Fail forward, fast
Fear of Failure • Look at mistakes, not as as outcomes or results, but as permanent and personal • Fear of failure is self-limiting • “Failures of omission” as the biggest failure of all!
Risk Continuum Model Critical to thoughtfully consider the lines Risk Level
Risk Continuum Model Critical to thoughtfully consider the lines Danger Zone Risk Level Danger Zone • What risks should we rule out? • What risks can we realistically manage? Clear understanding of unacceptable risks enables… …bold action outside the “danger zone”
Failure as a Balancing Act Manageable Risk Zone Too Much Risk (Russian Roulette) Too Little Risk (Homebound)
Failure as a Balancing ActManageable Risk Zone vs Comfort Zone Emotional Comfort Zone Manageable Risk Zone Too Much Risk (Russian Roulette) Too Little Risk (Homebound)
Failure as a Balancing Act Emotional Comfort Zone Manageable Risk Zone Too Much Risk (Russian Roulette) Too Little Risk (Homebound) As an entrepreneur, my goal is to start life transforming ventures . while limiting self to “manageable risks”?
