Posts Tagged ‘UserVoice’

If We Learned One Thing at FailCon2010, It's That…

“Every startup will encounter a failure, said Cass Phillips, executive producer of FailCon2010. Not a close-up-shop-and-file-for-bankruptcy kind of failure, but more like turning in a rough draft of an essay that has to be completely rewritten. On Monday mbStartups flew to San Francisco for an all-day event of panel discussions, small group workshops and networking sessions with the founders (and funders) of successful startups who were once failures. We learned three things about hitting the delete button and starting over:

1. A mistaken hypothesis does not, in fact, create a crisis.

Steve Blank (pictured left), author of The 4 Steps to the Epiphany said that startups don’t need to “fire an executive every time there is a flaw in the business model.” Large companies thrive on executing existing business models that have already proven to work. “Startups,” in contrast, are “built for rapid search and pivots,” said Blank, meaning that the goal of a startup is to quickly test and rule out business models that don’t work before settling on one that does.

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