Sharing Failures in Paris: FailCon

25th September marked the day of FailCon Paris when the fantastic FailCon team came over from California to help the French embrace failure!

Cass introducing the FailCon Paris sponsors

The conference hosted a full day of speakers, Q&As and excellent networking opportunities at Microsoft’s offices in Paris. I went along as I’m particularly interested in encouraging people to understand that any business, start up, venture or entrepreneurial idea will at some point, inevitably experience failure. That, however is not a negative occurance but a means of learning to succeed at what you want to achieve.

The speakers were excellent. Some were fairly big names, others were less well known but the thing, for me, that made the event was the atmosphere in the room. Everyone that attended the conference was ready to accept failure, had failed at some point, wanted their business to succeed and/or understood the value of learning from other people’s mistakes.

Prepare For and Avoid Common Startup Mistakes
You aren’t a real entrepreneur until you’ve had to deal with failure, and recovering from it –
financially emotionally and practically – can be challenging. Hear how entrepreneurial
leaders have dealt with failure while keeping a positive and tenacious attitude.
Failcon

FailCon Paris

Learnings from the morning’s speakers

JB Rudelle CEO and cofounder of Critero talked about the differences between being a hare and a tortoise when it comes to business start ups. You may feel the need to run quickly and reach your goals quicker than planned but this can be a curse. ‘If it’s not quick and easy, it is a bad idea’ – WRONG! Success comes from hard work and persistance. Deals should be done when opportunities arise or ‘me-toos’ will creep in! All of this must, however take metrics into consideration. You must force yourself to measure your actions and outputs properly or it will become very difficult to know if you are being successful or not.

Eric Mittelette from Microsoft told the story of Microsoft’s web servers being hit by a virus which gave them a bad name. The virus took 15 minutes to infect 75,000 servers! The flaw in their single product meant that customers had a negative opinion of the entire company. Their failure came from their product having too many features and they did not know enough about security. Their piece of advice for businesses is to always have someone look over your code and use fresh eyes when reviewing work. This not only finds flaws and irons out problems but creates fun,positive competition in the workplace.

Jean-Christophe Capelli, CEO and cofounder of FriendsClear encountered regulation issues when starting his money lending via the internet business. His business was a small start-up trying to work with big businesses but both were on different time lines. Jean’s advice is to avoid working in regulated industries (!) but the overall learnings were to never give up, be prepared for hurdles and be aware of the pace of your partner companies. He had to stop working for 9 months and take a breather. Something that is not unheard of by a number of start-ups.

Next came a panel session titled ‘Investment Pitfalls’

On the panels was:

Jean David entertained everyone with this opening remark. ‘the first pancake never looks good’ Very true and interestingly linked to the fact that VCs will hardly ever admit they failed after an investment! VCs need to trust the entrepreneurs more and trust what they are doing with their money. When someone is investing, they are buildling the company and know one knows what will happen to that company. ‘how do you make people row in the right direction? you can’t…’
Sean went on to discuss the directions that failure can take. Often failure occurs because the technology has failed or because a me-too has entered and possibly saturated the market. There needs to be trust between the investor and shareholders. Breakdown in trust is when failure gets nasty. Know your numbers, show your enthusiams but don’t be afraid of having doubts.
Philippe said it’s important to paint a vision but also be able to tackle situations and take control.

Learning’s from the afternoon speakers

Olivier Fecherolle, Viadeo realised that he was too early with his start-up but didn’t have the money to wait. He made an interesting point that the UK is an island and you need to think that way if you want to launch there. You must base yourself in the place that you want to launch in to be able to set yourself up commercially. You must be in the same place as your company for success and look at your business globally if you want to scale it.

Thom Cummings, SoundCloud piece of advice from starting up his company was that it is easy to under recognise your achievement yet it’s also easy to over recognise milestones! It is common to have access to too much information and too many paths which makes focussing challenging. Start-ups must pick the right metric and be able to recognise when good enough is good enough. ‘Be a navigator, not a chauffeur’, ‘choose the right path, give support and let them drive’

Thom Cummings at FailCon
Next came the panel session Location: Can It Ruin You?

This session discussed building trust with your brand and the necessity of having a website that your stakeholders like and can relate to. Good branding is essential for gaining this trust. Markus explained how he tried to scale the marketing too slowly. It is important to have big numbers and faith to spend money on your marketing!

Gabriel was confident that you don’t necessarily want two years of runway to grow your start-up. It’s more important to spend what money you have wisely!

Lara Rouyres and Tatiana Lara, LivingSocial had some very wise words to share as the last speakers of the day. The culture of a small start-up will change when it becomes a bigger business and people need to be ready for this. ‘Make sure you get management to write down their values each month, then choose who represents those values best’ was a technique they have adopted.

Anticipate transition, don’t rush into hiring people and remember that communication amongst the team is crucial.

What I learnt from the whole event

Starting a business can be done by nearly anyone but understanding what is ahead of you needs confidence, management and planning. We can plan for inevitable hurdles but we never know when we will come across them and need to be ready to pivot. Every time we fail, those hurdles become more obvious and the time it takes to pivot reduces.

You must believe in yourself but be mature enough to listen to others and know when to take their advice!

The conference was incredibly valuable for anyone running a business and what I heard definitely rings true with the start-ups I am currently working with.

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Ignite Athens

On 20th September 2012, a fantastic event happened in Athens, Greece. Entrepreneurs, business start ups, VCs, angel investors and mentors all gathered at the Onassis Cultural Centre to share their passion for innovation. I was honoured to be invited to speak about My Fail Tale, making failure positive.

Ignite Athens place card

Ignite Athens a fast-paced geek event started by Brady Forrest, Technology Evangelist for O’Reilly Media, and Bre Pettis of marketbomb.com, formerly of MAKE Magazine‘ was organised for companies and leaders to share innovation. Based on a pecha kucha style presentation, each speaker was given 5 minutes (20 timed slides, each 15 seconds long) to talk.

The morning session…

The day opened with a message from Nellie Kroes, Vice-President of the European Commission who talked about the Digital Agenda for Europe and the importance of supporting entrepreneurs in Europe.

Neelie Kroes video message

The morning then heard a number of speakers all connected with entrepreneurship either as mentors, business support, interesting initatives or with successful companies.

Here is a summary of the insights I picked up from the speakers:

  • Tolis Aivalis, (@aivalis) a business mentor and serial entrepreneur kicked off the event by talking about the important characteristics of an entrepreneur. Autonomy, strength and liberty were interesting key words.
  • Ryan from The Ink Factory (@the_ink_factory) demonstrated (via an animation) their amazing talent at graphic recording. ‘You talk, we draw, it’s that simple.’ Well, they make it look that simple but actually, they are fantastic at capturing the essence of your talk in a matter of minutes. Here is a photo of one of the boards they created throughout the morning.

Graphic recording by The Ink Factory

  • endeavor(@endeavorGR) gave an interesting talk about growth and how to support entrepreneurs. Apparently only 15% of entrepreneurs in Greece are female whereas only 8% are female in the EU. Why is this? These numbers are both incredibly low.We need to be more realistic about where we are and what we can achieve: aim high, dream but make sure you can reach that dream!
    Explore the power of corporations; but don’t boycot and create issues and share you ideas.
    Have a strong commitment to your start-up: solutions are not handed to us!
  • Ydir Vissers from Monitor Group explained their view on the paths to becoming an entrepreneur.
    – You could set yourself up in Silicon Valley and immerse yourself in the entrepreneurial surroundings.
    – Spawn off others through an anchor model path.
    – Follow heros that represent entrepreneurship.
    – Be put into an event driven environment where you have to succeed!
  • I added to the conversation by presenting the My Fail Tale project (video below), working to create a movement of change people’s attitude towards failure. The great news it that the subject was warmly welcomed and people were happy to discuss their failures. Well, more their fear of failure as most people in the room were entrepreneurs about to fail! The Ink Factory created this great representation of my talk:My Fail Tale

The afternoon session…

The afternoon session introduced a huge list of budding entrepreneurs in Greece. There were so many of them that it’s best you look them up yourselves if you’re interested. Here are some of my favourite:

Healthster ‘The smartphone app Hippocrates himself would endorse. Be CEO of your own well being. Taste health one bite at a time with Healthster’ @healthsternow

Gnostix ‘Social Media Monitoring & Analytics tool for results driven Social Media Marketing’ @gnostix

Weendy ‘Share the action, fun and conditions from any spot as it happens. Simple. Social.’ @weendyapp

Suibee ‘Suibee collects inspiring posts from people like you’ @suibeeapp

WOTgroup ‘helping women find mentoring in business’ @WOTgroup

Buddy Traffic ‘Buddytraffic is a fun and exciting crowdsourced app that helps you and your buddies report and avoid traffic’ @buddytraffic

Fashinating ‘Fashinating is online window shopping! Thousands of fashion products – apparel, shoes, bags, accessories, jewelry – from the best online stores worldwide are gathered in one place, to enable you to easily discover and buy the items you like.’ @fashinating

To sum up…
Ignite Athens did a great job at bringing entrepreneurs, innovators, business minded, inspiring people together in one place. The passion and excitement in the room created the foundations for business initiatives and forward thinking. I met people from all types of business with different skills and different dreams. I wish them all the best of luck and thank everyone for the insights and contacts I took away.

The talks can all be found here on YouTube.

You can watch Louise speak about My Fail Tale below:

 

Two days at the Digital Agenda Assembly 2012, Brussels

This time two weeks ago I was in the middle of a really interesting and exciting two days at the Digital Agenda Assembly, Brussels. I was invited to attend by the European Commission along with the other OpenIDEO web start-up challenge winners – what an experience! The commission had sponsored the OpenIDEO challenge and therefore invited us to Brussels to be part of the discussions and to have an opportunity to present our concepts to the group and other members of the EU Commission.

The main objectives of the Assembly were to:
– Assess progress to date on implementation towards the Digital Agenda’s goals and actions and seek ways to improve delivery;
– Identify challenges ahead for the implementation of the Digital Agenda and for the information society in general;
– Mobilise stakeholders’ actions to make further progress and address challenges.

Digital Agenda Assembly poster

And the days were broken up with 8 different workshops in the European Commission on day one, (followed by an OpenIDEO specific concept workshop in the afternoon, a dinner with the commission and speakers in the evening) and day two was a plenary session in the Hemicycle room at the European Parliament.

Here is a summary of my learnings…

Day 1: workshop 8 innovation and entrepreneurs, European Commission

The workshop was opened by MEP, Pablo Zabla who was very clear that Europe’s barriers to innovation and entrepreneurialism are caused by low funding, increased global competition from China and India and too high a level of youth unemployment. He felt we need to grow entrepreneurs, repeat events like the DAA and encourage institutes to listen and learn.

Zabla felt we should replicate the US model and in turn understand the importance of entrepreneurs in Europe. Amy Bonsall tweeted the following during his talk: “Why is Silicon Valley what it is? talent (stanford), failure acceptance, and funds” – Google via Pablo Zabla #da12innov #oi_startup. Zabla was the first (but not the last to mention the word failure). I loved the quote he used

“falling down is permitted but getting up is compulsory” – this is something we should all remember!

Workshop 8: innovation and entrepreneurs

The next person to talk was Laia Pujol moderator of the innovation and entrepreneur community of Digital Agenda for Europe. Pujol summarized research findings and stated that ‘start-ups don’t grow in the EU due to a lack of funding and support’. Unlike the US, there’s a lack of entrepreneurial culture and we need to stimulate hot spots or clusters for specific entrepreneurial areas to help them grow. The problems the EU face for these to be achieved are providing internships to encourage more people into the industry, highlighting sources of funding to help entrepreneurs grow and then retaining the talent it’s created!

Interestingly, 50,000 jobs were created due to the introduction of ‘Apps‘. This has clearly been a valuable new ‘hot spot’ – how can we learn from this to create another 50,000 jobs?

A really poignant point that came up during the discussions was the need to find ways to listen, learn and inspire others to spark ideas. We must ‘follow our curiosities and if something disturbs you, that’s a good thing’.

The first non-EU speaker was Derek Holt of StartUp America, a start-up for start-ups (who boast to have he world’s shortest URL!) who are there to help ‘inspire and celebrate entrepreneurs’. StartUp America are not there to create jobs, they are there to help others grow by taking the idea, ramping it up and speeding it up. With 1/2 million start-ups every year in the US, there’s clearly a need for an organisation like this one!

Holt rounded up by saying that we must ‘celebrate failure – visibility of mistakes means you will make your own mistakes and that’s when innovation happens’.

The other speakers, including Amy Bonsall and Haiyan Zhang from IDEO, Nico Perez from MixCloud, Jose Jimenez from Telefónica I+D, Spain and Gary Stewart from Wayra Spain broke off into smaller groups to talk about their initiatives, journeys and stories connected to innovation and entrepreneurship.

Workshop 8: innovation and entrepreneurs

Nico Perez gave an insightful talk about how to run a lean start-up without receive VC funding. Perez and his team spent 18 months living and working in a (not so glamorous) warehouse with no salary and no funding but the skills to get their business off the ground. Once MixCloud had built up enough traction and a good user base it was time to go looking for investment – even at this stage it was taking too long to negotiate a deal, by which point they had already started building revenue.

Interestingly, their lawyer turned out to be their most useful mentor; someone who had worked with similar companies in the past.  They realized early on that they were forced to work out a robust business model as cash flow was their life line. His advise for determining a budget and forecast for a start-up is to talk to others in a similar situation. ‘start collecting data points from your network to try and estimate your budget as best as possible’.

The other area of advise was to do with building your online community, a problem that many start-ups face. The ‘cold start’ problem of building up a user base can be a real challenge. Perez suggested immersing yourself into the community that you want to use the site. It is essential to know and understand the desired user group and build on the network you already know.

OpenIDEO Challenge winners enjoying lunch

After lunch we broke off to discuss our winning challenges concepts but I will write about these in a separate blog post.

Day 2: the plenary session, European Parliament
The hemicycle room in the European Parliament is an impressive room and I never imagined I’d ever get the opportunity to sit in it!

European Parliament, Plenary session, Hemicycle Room

The morning was full of innovation, start-up, funding, technology and entrepreneur experts – to save a very long explanation of my leanings, here are a number of quotes which I felt really stood out from the opening speakers:

‘80% of European citizens are connected to the Internet, the Internet has created a 25% increase in jobs in the last year and ICT grows by 3.8% every year’
‘we need to improve our innovation culture without being scared of failing’
‘it is easier to steal a movie on the Internet than it is to buy one – how can we better protect our copyright?’ Alexander Alvaro, VP of the European Commission.

Neelie Kroes speaking at the, Plenary session, European Parliament

‘we can achieve when we act together. We must listen to the outside world’
‘the Internet matters for citizens, it is a platform for astonishing crape activity and we haven’t found it’s limit yet!’
‘there are too many barriers to the internet. 1 in 3 Europeans have no internet access at home and 1 in 4 adults haven’t been online’
‘it’s important to unlock finance to support the entrepreneurs who can provide jobs in the future’
‘what will future generations say about us? Did we adapt to disruptive change? Did we create a better connected continent? Did we make easy tools for elders to join the digital world? We need to act now – the future is in our hands’ Neelie Kroes, VP of the European Commission

The next sessions were panels sharing their views on the topics already discussed to do with eliminating barriers:

‘don’t over tax entrepreneurs’
‘the younger generation are most familiar with the digital world but universities are too slow and because of that there is a skill gap’ Guiseppe Zocco, Index Ventures

‘don’t forget the elderly or disabled. They must be art of the digital community’ Adriana Ticau, Member of the European Parliment.

‘never compromise on research and development’ Ben Verwaayen, CEO Alcatel-Lucent

‘there is a (perceived) lack of access to early stage capital and growth capital.
There is a lack of entrepreneurial culture.
There is a lack of acceptance to failure.
Why are Europeans more risk adverse than the US?’ Stefano Parisi, President of Confindustria Digitale, BUSINESSEUROPE

‘we need to change mindsets and improve the culture’ Robin Wauters, European Editor – The Next Web

‘we must foster a community that supports entreprenures’
‘the Israeli culture learn from role models and encourages school leavers to start their own company straight away. In Europe it’s seen as safe to go and work for a big company when you graduate’
‘society is driven by numbers. Let’s create an incentive culture’
‘education is good but we need practical experience’
‘you can’t copy Silicon Valley by copying the buildings – you need the people’ Eze Vidra, Head of Google Campus

‘there’s a perceived fear of looking stupid. That is our reason for not wanting to fail’
‘Steve jobs was an innovator, not an inventor – he delivered other peoples ideas better… We don’t need to make the next billion dollar idea but make what’s out there, better’ Yossi Vardi, Early Stage internet investor

The last presentation I saw was given by Juliana Rotich, executive director of Ushahidi, ‘a non-profit tech company that specializes in developing free and open source software for information collection, visualization and interactive mapping’.

Rotich’s talk was very powerful. She based it on the theme of cognitive surplus ‘learning how to use more constructively the free time afforded to people since the 1940s for creative acts rather than consumptive ones, particularly with the advent of online tools that allow new forms of collaboration’

Rotich’s work which is mainly based in Africa but used globally, crowd sources data via an online platform. She stated that only 13% of Africans have Internet access yet they make use of all the resources that they have – Ushahidi’s work helps turn these  resources into invaluable tools.

The organisation she heads up is an incredible platform for democratizing information, increasing transparency and lowering the barriers for individuals to share their stories. ‘Technology gives us the opportunity to magnify power – it’s taken 15 years for the Internet to make as much change as the industrial revolution did in 50 years!’ She went on to explain that we need to view the world from the ground, not just from main stream media and luckily, the Internet allows this. Now there are global voices and people online blogging about their experiences. Open systems are providing people with a skeleton to flesh out their ideas and co-working spaces and incubators in Kenya like IHub are allowing stimulation instead of regulation. ‘We need to remember how important feedback loops are for changing behaviors; they are like a dashboard to our social lives.’

Should we be supporting leaderless networks?
Should we stimulate or regulate?
What we need are gate keepers or trail blazers to empower and open doors.

A fantastic final presentation providing a heart felt message to a very insightful, information filled couple of days.

I captured all these quotes, lessons and insights but what did I learn?

  • Europe has the right people to help nuture and grow digital entreprenurial start-ups but access to funding and support needs to be easier and more approachable.
  • There are ways to support entrepreners better (tax relief, policy changes etc) and we need to drive awareness for a likely hood of these happening in the near future.
  • We need to drive innovation forward making sure we use the talent of the younger generation.
  • Failure is a known problem for start-ups – we should embrace it, change our culture and not shy away from it.
  • The internet has so much potential, we have only scratched the surface and we need to seek out the opportunities lying ahead of us.

And the last thing I want to point out is the lanyard we were all given with our name tags. I had forgotten that the clip for the lanyard doubled up as a memory stick! A nice touch.

DAA Lanyard

All I need to do now is put it into my computer to see what’s on it…

(the hashtag for the workshop was #DA12innov and the whole event hashtag was #DA12 for those wanting to read up more via twitter)