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ALL THE SH!T I'VE DONE WRONG:

LEARNING BY FAILING AND SCREWING UP

ERIC KOESTER@ERICKOESTER

FAIL.FAIL FAST.

FAIL WITH DATA.LEAN FAILURE.IDEAS SUCK.

SERIES A CRUNCH.RAPID ITERATION.

PIVOTS.ACQUIHIRES.

F.

NO ENTREPRENEUR

IS

OKAY WITH FAILURE…

WE HATE IT.

THE BEST ADVICE I’VE EVER RECEIVED…

FIND A GROUP OF ENTREPRENEURS YOU TRUST AND

CELEBRATE HONESTLY.

PERCEPTION VS. REALITY

TechCrunch

Mix Panel

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SO HERE’S SOME SH!T I'VE DONE WRONG:

AND WHAT I LEARNEDFROM IT…

“IT’S NOT SCALABLE REVENUE”

#1 “YEAH, IT’S ALL REVENUE”

Once your company has a lot of revenue, you can be choosy. Until then, any

revenue is revenue.

“OUR TEAM LOVES THE CULTURE”

#2 “CULTURE IS HARD WORK”

Most startups begin with great culture; but amazing startups find ways to keep

great culture.

“IT’S JUST A STOP GAP”

#3 “NO HIRE IS EVER A STOP GAP”

If you wouldn’t spend 8 straight hours in the car with any hire, then dear god don’t

hire them.

“WE’RE TOTALLY COOL WITH VIRTUAL…”

#4 “DECISIONS AREN’T MADE VIRTUALLY”

Starting a company with a virtual team is like trying to

learn to be a surgeon watching the Health

Channel.

“WHAT IF WE JUST HIRED A CONSULTANT?”

#5 “DON’T OUTSOURCE CORE SHIT”

Most common founder sob story: “So we outsourced it to _______ and now we are

stuck with this pile of junk.” #dontdoit

“WE’RE DATA DRIVEN. WE USE GOOGLE ANALYTICS”

#6 “DATA YOU IDIOT. DATA.”

Data is a startup’s unfair advantage. Design your

company around the data advantage or you’ve already

lost.

“WE’RE MADLY IN LIKE WITH ONE ANOTHER”

#7 “100 LOVERS VS. 1,000,000 LIKERS.”

If you can’t convince 100 people to totally, f-ing love you, good luck convincing a

million.

“YEAH I’M FOCUSED.”

#8 “FOCUS. FOCUS. FOCUS. YUP, FOCUS.”

If you aren’t working on something that scares the heck out of you, then you aren’t working on what

matters.

“I’M THE CEO.”

#9 “REMEMBER, YOU AREN’T THAT SMART.”

The best entrepreneurs have the curiosity of a child, the humility of a priest and the impatience of a dying man.

“WE’RE THE PERFECT TEAM.”

#10 “VESTING IS YOUR FRIEND.”

Have an incredibly honest and uncomfortable

conversation upfront with your cofounders. You’ll thank

me later.

THE RECAP…

1. YEAH, IT’S ALL REVENUE2. CULTURE IS HARD WORK

3. NO HIRE IS EVER A STOP GAP4. DECISIONS AREN’T MADE

VIRTUALLY5. DON’T OUTSOURCE CORE SHIT

6. DATA YOU IDIOT, DATA.7. 100 LOVERS VS. 1,000,000

LIKERS8. FOCUS, FOCUS, FOCUS, YUP,

FOCUS.9. REMEMBER, YOU AREN’T THAT

SMART.10.VESTING IS YOUR FRIEND

FIND A GROUP OF ENTREPRENEURS YOU TRUST AND

CELEBRATE HONESTLY.

THANK YOU