Success Through Failure 2020

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Success 20/20
If youre not failing, youre probably not
succeeding? Success Through Failure
Leveraging Lessons Learned.
Office of Entrepreneurship
2
Success 20/20

• J.K. Rowling 12 publisher rejections
• The Beatles Decca Records didnt like their
  sound
• Walt Disney Newspaper editor said he lacked
  imagination
• Michael Jordan cut from team as a sophomore
• Thomas Edison tests of first 1,000 light bulb
  filaments failed
• S. Jobs/S. Wozniak rebuffed by Atari and H-P
• T. Szaky sued by giant Scotts/Miracle-Gro
• James Dyson made 5,126 failed prototypes
• Jake Burton boards were rejected on most
  mountains
• Failure isnt fatal.

3
Success 20/20

• Failure is an inherent part of success.
• Henry Petroski
• Success Through Failure The Paradox of
  Design.
• Failure takes many forms
• It doesnt work
• It works well, but no one wants it
• It works fine, but someone elses works much
  better
• It works, but the timing is wrong
• Failure is critical to the experimental process
• Its how designers, inventors and scientists
  prove themselves wrong
• Without it, people and organizations become
  stale, stagnant and uninventive
• Failure makes our ideas stronger, but only if we
  are willing to learn from it

4
Success 20/20

• Garry Kasparov
• The attackers advantage only comes to those
  who arent
• afraid to make mistakes.
• Larry Page
• You have this fear of failing and of doing
  something new,
• which is very natural. In order to do stuff
  that matters,
• you need to overcome that.

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Success 20/20

• The curse of knowledge
• Once youve become an expert in a particular
  field,
• it becomes difficult to look beyond what you
  know and think.
• Elizabeth Newton, psychologist, Stanford research
• - Tappers chose from a list of commonly
  known songs
• - Rapped on a tabletop to the tunes rhythm
  in their head
• - Listeners were asked to name the songs
• - Tappers predicted listeners would get it
  right half of the time
• - Listeners actually guessed only 3 of 120
  songs.
• - Tappers were astounded because the song was
  so clear in their minds

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Success 20/20

• Experience is something you dont get until
• just after you need it.
• Fail early and fail cheap
• Failure makes us stronger, but only if we learn
  from it
• See failure as opportunity and not disappointment
• Analyze, analyze, analyze
• Its unlikely youll succeed the first time
• Be honest in assessing failures, look for lessons
  not blame
• New venture creation is a process of trial and
  error
• Create an environment for taking risk

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Success 20/20

• Stretching
• If we dont fail a third of the time,
• were not stretching enough.
• John Kelly 78
• IBM RD leader

8
Success 20/20

• Schedule
• Can you see around corners?
• If youre not failing, youre probably not
  succeeding.
• Is your idea a spark or a fire in your belly?
• Your life will change. Will you be ready?
• Who needs a business plan?
• Will your elevator pitch take you up or down?
• How will your idea get from your mind to the
  marketplace?
• When can perception be more important than
  reality?
• Can you take chances with your idea without
  gambling?
• Is your idea viable or is it a solution looking
  for a problem?
• Is who you know just as important as what you
  know?
• Do you play to win or do you play not to lose?

• Opportunity Recognition
• Success Through Failure
• Passion
• Adaptability
• The Business Case
• The Elevator Pitch
• Marketing Planning
• Negotiating
• Risk Management
• Idea Commercialization
• Social Networking
• Bias for Action

September October October November November Januar
y February February March March April April
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Entrepreneurship
A way to think A way to learn
A way to succeed.
Rob Chernow Vice Provost