Rethinking Failure and Why that's a Good Thing (for FailCon)
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Transcript of Rethinking Failure and Why that's a Good Thing (for FailCon)
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F@#! THISWE ALL FAIL & WHY THAT’S A GOOD THING
@BENRENNIE
THIS PRESENTATION WAS CREATED FOR FAILCON SYDNEY 2012.IT IS BEST ACCOMPANIED BY COMMENTARY & MAKES UP A 20 MINUTE KEYNOTE ON FAILURE.WORDS & PRESENTATION BY BEN RENNIE (ON TWITTER @BENRENNIE)
@BENRENNIE
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OUR DAILY CHALLENGE
@BENRENNIE
+ +
REMOVING NOISE. REMOVE BEFORE WE ADD... SOLVING COMPLEX PROBLEMS IS ABOUT STRIPPING BACK THE LAYERS OF COMPLEXITY. KEEPING THINGS SIMPLE.
@BENRENNIE
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SUCCESS V’S FAILURE
80%TELL US THEIR BUSINESS IS DOING WELL
75%TELL US THEIR COMPETITORS ARE DOING IT TOUGH
@BENRENNIE
WE ARE CONSISTENTLY OPTIMISTIC ABOUT OUR OWN FUTURES AND PESSIMISTIC ABOUT OUR COMPETITORS. THERE IS A DISCONNECT BETWEEN HOW WE SEE OUR OWN FUTURE, AND HOW WE SEE THE FUTURE OF THE MARKET.
WE ALL WANT TO SUCCEED, NO ONE WANTS TO FAIL, AND AS A RESULT, MOST OF US END UP SOMEWHERE IN BETWEEN.
@BENRENNIE
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A REAL LIFEINFOGRAPH
@BENRENNIE
80% OF THE ROOM STAND UP, BASED ON THE PREVIOUS SLIDES DATA, IF THIS IS TRUE, THEN I WILL BE FINE... HOWEVER YOU ARE ALL STUFFED!
@BENRENNIE
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HOW MANY COMPANIES FAIL?
1305NISIYAMA ONSEN KEIUNKAN
60%OF COMPANIESWON’T LAST5 YEARS
THE OLDEST COMPANY IS..YEARSOLD
THAT IS3 OUTOF 5
@BENRENNIE
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WHY?
WHY DON’T WE TALK ABOUT THAT?60%
OF COMPANIESDON”T LASTMORE THAN 5 YEARS
WE NEED TO DEFINE FAILURE. WHAT DOES IT MEAN TO YOU?
@BENRENNIE@BENRENNIE
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@BENRENNIE
The idea that failure is not an option is dangerous. It makes failure invisible. Over time, making it... inevitable.
@BENRENNIE
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WE CAN’T AVOID FAILURE!
@BENRENNIE
So we need to embrace it.
Analysing Success is like looking in a rear view mirror . We try to replicate our previous success or someone else's. The real value of learning is from being able to extract lessons from our Failures... this means, we need to talk about it.
@BENRENNIE
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WE DON’T NEED EPIC FAILURESBUT WE DO NEED FAILURE.
@BENRENNIE
COMPANIES GOING BROKE
EVERYDAY SETBACKS
@BENRENNIE
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WHAT IF YOU STARTED AGAIN TOMORROW?What 3 behaviours from your past would keep? Consider the fire drill.
@BENRENNIE@BENRENNIE
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THIS IS WHAT I KEPT FROM MY FIRE: 3 BEHAVIOURS.
ACTION
Creating what you can not see.
CONNECTION
Connecting to culture & humanity.
DEVIATION
Forging new paths.
THE QUESTION:
HOW DO WE RETHINK HOW WE RUN OUR COMPANIES?@BENRENNIE
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@BENRENNIE
INTRINSICWE NEED TO RETHINK HOW WE RUN OUR COMPANIES EXTRINSIC
V’S
GOOGLE: DAN H. PINK@BENRENNIE
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@BENRENNIE
DON’T FORGET TO BE HAPPY
@BENRENNIE
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@BENRENNIE
EXTRINSIC
Not part of the essential nature of someone or something; coming or operating from outside.
(of a muscle, such as any of the eye muscles) Having its origin some distance from the part that it moves.
1.2.
Rewarding people to solve complex problems doesn't solve the problem, it actually does the opposite.*
GOOGLE: DAN H. PINK@BENRENNIE
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@BENRENNIE
Belonging naturally; essential.
(of a muscle) Contained wholly within the organ on which it acts.
There’s a mismatch between what science knows and companies do.
Rewards narrow focus,concentrate the mind.
1.2.
INTRINSIC
**GOOGLE: DAN H. PINK@BENRENNIE
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1% IDEA 99% EXECUTION
A GREAT IDEA IS WORTH NOTHING
@BENRENNIE@BENRENNIE
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FAIL EARLYFAIL FASTFAIL INEXPENSIVELY
MY 3 RULES OF EXECUTION
@BENRENNIE@BENRENNIE
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LEARN FROM FAILURELISTEN TO IDEASEMBRACE RISKREWARD BRAVERY
LET’S CREATE COMPANIES
THAT
@BENRENNIE@BENRENNIE
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IN THE NEXT 30 DAYS...
TODAY 30 DAYS
@BENRENNIE@BENRENNIE
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CREATE SOMETHING
SHARE SOMETHING
CHANGE SOMETHING
@BENRENNIE
IN THE NEXT 30 DAYS...
@BENRENNIE
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@BENRENNIE
THANKS.BEN RENNIETWITTER: @BENRENNIEWWW.SIXPOINTTWO.NET
@BENRENNIE@BENRENNIE