Startup Failure Is Not What You Think
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STARTUP FAILURE IS NOT WHAT YOU THINK
Sergey L. Sundukovskiy, Ph.D.
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Sergey L. SundukovskiyCo-Founder, CTO & Chief Product OfficerCompanies: PushPoint, Cinsay, LowerMyBills, DIRECTV, CBWInterests: Entrepreneur, Speaker, Mentor, AdvisorEducation: BA CS, MS IT, PH.D. Business
Sergey L. Sundukovskiy, Ph.D. has over 20 years of experience serving in capacities of Chief Technology Officer, Chief Information Officer and Chief Product Officer. Sergey specializes in implementation of subscription based high volume SaaS platforms, with strong emphasis on early stage product development and market deployment. Specific areas of expertise include A/B Testing, Big Data, Video Management, eCommerce, RTB platforms and Cloud Computing. Education: B.A. in Computer Science from the University of California, San Diego, and an M.S. in Information Technology from the University of Liverpool. Ph.D. in Information Technology Management from the School of Business and Technology, Capella University.
INTRODUCTIONBACKGROUND &
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SERIALFAILURE
The Story of One Dissertation
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FAILURE
“A person who never made a mistake never tried anything new.”
-Albert Einstein
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WHAT ISFAILURE?
Failing Does Not Equal Losing?
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Faili
ng
Does
Not
Equal Lo
sin
g
You Did Not Lose Unless You
Learned Nothing
WHAT ISFAILURE?
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You
Did
Not
Lose
U
nle
ss Y
ou
Le
arn
ed N
oth
ing
We Do Not Have Failures We Have “Learn a Lots”
WHAT ISFAILURE?
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FAILURETYPES
Complete FailureCompany Folded
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Com
ple
te F
ailu
reC
om
pany F
old
ed
Partial FailureCompany Acquired,
Merged, etc.
FAILURETYPES
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Part
ial Fa
ilure
Com
pany A
cquir
ed,
Inco
rpora
ted, etc
.
Failure on the Way to Success
Lose the Battles Win the War
FAILURETYPES
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WHY ISFAILURE IMPORTANT?
Complete FailureFills Ecosystem with Experience ?
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Partial FailureAllows for Second Life
Com
ple
te F
ailu
reFi
lls E
cosy
stem
w
ith E
xperi
ence
WHY ISFAILURE IMPORTANT?
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Failure of the Way to Success
Completes Success Cycle (Failure -> Learning -> Success)Pa
rtia
l Fa
ilure
Allo
ws
for
Seco
nd L
ife
WHY ISFAILURE IMPORTANT?
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FAILUREDONE WRONG
What Happens When Failure is Not Accepted
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Japan Recession of the 90’s
Companies Would Not DownsizeBanks Would Not Foreclose
Government Would Bailout Banks
Wh
at
Happ
en
s W
hen F
ailu
re is
Not
Acc
ep
ted
FAILUREDONE WRONG
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WHAT DO STARTUPS AND GOLF HAVE IN COMMON?
• Constant Failure
• Must Have Right Tools
• Impossible To Get Lucky
• All About The Team
• All About Execution
• It Is All About Micro-
Pivots
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Micro-Pivots After Many Failures In…
ROAD TOSUCCESS
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ROAD TOSUCCESS
Product Development
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Pro
du
ct
Develo
pm
en
t
Product Marketing
ROAD TOSUCCESS
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CustomerAcquisition
Pro
du
ct
Mark
eti
ng
ROAD TOSUCCESS
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BusinessModel
Cu
stom
er
Acq
uis
itio
n
ROAD TOSUCCESS
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PERFECTFAILURE
What Does Failure Look Like?• No Addressable Problem
• No Market
• No Effective Team
• No Customers
• No Product
• No Product Positioning
• No Money
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REASONS FOR FAILURE
Why is FailureSo Common?
Failing isSO HOT right now!
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REMARKABLESIMILARITY
Beginning of theStartup Journey
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End of theStartup JourneyB
eg
innin
g o
f th
eSta
rtup
Journ
ey
WOAH…Deja Vu!
REMARKABLESIMILARITY
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BUILDING A STARTUP
Building a Startup Is An Exercise In Un-Failure
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UN-FAILURESTRATEGIES
• Too Many Steps To Get
There
Wrong Way To Fail (Tail of Two Extremes)
• Hole in One
• Give Up Too Early
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GIVING UPTOO SOON
Diving Lesson
KEEP GOING!
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• Have Big Targets To Hit
(Tracers)
Right Way To Fail
• Un-Fail Most Important Things
First• Change Strategy at the Right
Time• Good Return on Luck
• Do Not Need to Outrun the Shark, Just Your Buddy
UN-FAILURESTRATEGIES