How to Fail and still be a sucess
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Transcript of How to Fail and still be a sucess
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The Market Opportunity
How to be wrong every day and still be right
Caelen KingCEO and Founder
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The Market Opportunity
Founder & CEO of RevaHealth.comPreviously VP Product for NewBay
SoftwarePreviously Product Manager for Baltimore
Technology
Who am I?
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The Market OpportunityMost of us want to do something
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NEW
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The Market OpportunityThe Emotional Rollercoaster – Stage 1
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•This is going to be great. •We just do A+B+ C and...•WE RULE THE WORLD
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The Market OpportunityEmotional Rollercoaster – Stage 2
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•What was I thinking•I am so totally screwed
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The Market OpportunityEmotional Rollercoaster – Stage 3
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OK
Let’s do it
Again
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The Market Opportunity
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The Market Opportunity
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The Market Opportunity
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The Market Opportunity
Bounce rate went from 45% to 51%, Page view reduced by 25% worst of all Conversion rate went from 7.2% down to 2.4%. IT WAS KILLING 75% OF OUR REVENUE! After a week of counting the cost we pulled it out
and brought back the old design.
Results
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The Market Opportunity
In Baltimore I launched 5 product lines – ONE SOLD
In NewBay I launched another 5 product lines – TWO SOLD
In RevaHealth.com of the 4,000+ feature/UI changes logged in basecamp about 500 are used
We re-invent on a daily basis
Nearly Everything is Binware
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The Market Opportunity
Concentrate on your core functionality – copy everything else
Write you own documentationGet it out earlyUse it yourselfRecognise failure as a success
What to do
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The Market Opportunity
Don’t try and be 100% right Don’t pull a feature before giving it time to bed down Don’t worry about colours Don’t code for scalability Don’t add ‘nice to haves’ Don’t spend a lot of money getting expert advice
hoping that it will stop you from being wrong Don’t stubbornly insist that you got it right and the
world is wrong
What not to do
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The Market Opportunity
1. You fail because you got it wrong – this is good
2. You fail because you couldn’t be bothered – this is bad
Two Types of Failure
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