understanding failure in early stage startups
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Understanding failure in early stage startups.
joinef.com
@efLDN @alicebentinck co-founder EF
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@EFLDN
EF works with the earliest stage startups possible often pre-team and pre-
idea.
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@EFLDN
Fears around failure seem to hold some founders
back.
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@EFLDN
When did failure turn from I failed to I am a
failure?
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@EFLDN
I don't divide the world into the week and the strong, or the
successes or failures I divide it into the learners and non-learners
Benjamin Berner
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@EFLDN
Failure is a mindset
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@EFLDN
Failure is a mindset There are two mindsets -Growth vs Fixed *Read more from Dr Carol Dwecks book Mindset
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@EFLDN
Failure is a mindset In a fixed mindset, people believe their basic qualities, like their intelligence or talent, are simply fixed traits. They spend their time documenting their intelligence or talent instead of developing them. They also believe that talent alone creates successwithout effort.
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@EFLDN
Failure is a mindset In a growth mindset, people believe that their most basic abilities can be developed through dedication and hard workbrains and talent are just the starting point. This view creates a love of learning and a resilience that is essential for great accomplishment. Virtually all great people have had these qualities.
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@EFLDN
Failure is a mindset Founders who are able to adopt a growth mindset, where they see every failure as a learning opportunity, are more resilient and develop their founder skills faster.
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@EFLDN
Failure is a mindset Founders who have a fixed mindset, see failure as a personal attack on their intelligence. They no longer persist because founding a startup/failure no longer aligns with who they see themselves as.
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@EFLDN
Failure is a choice
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Why do startups fail on EF? They dont want the burden.
@EFLDN
Failure is a choice
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On EF, founders dont fail. They stop. They realise that building a startup is one of the hardest things they can do and they choose to opt out. This isnt failure. This is a mature choice.
@EFLDN
Failure is a choice
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@EFLDN
Failure is what happens when youre doing something new
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If youre not failing, youre not pushing the boundaries.
@EFLDN
Failure is what happens when youre doing something new
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Each failure is an opportunity to learn something new about your product, your market and your customer. The founding process is all about maximising your opportunities to learn. Failures show that you are doing this.
@EFLDN
Failure is what happens when youre doing something new
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@EFLDN
My goal is not to fail fast. Its to succeed in the long
term.
Marc Andreessen
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We help the most ambitious technologists in Europe to build startups from scratch
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What is Entrepreneur First?
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Applications open now: joinEF.com [email protected] @alicebentinck
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