Some of the most important lessons in the startup world come not from success, but from failures. Such is the premise of FailCon, a day-long event at San Francisco's Hotel Kabuki, that is a refreshing change of pace from the typical conference circuit. Founders, executives, investors, and industry experts share their fears in an uncertain marketplace and--yes--the dashing of their hopes and dreams.
Not surprising for the Bay Area, the eclectic lineup features some big names in the media and technology space, and the equally eclectic topics range from failed social media strategies and the best ways to lose all your customers, to bank busting venture capital deals and high-tech gadgets gone bad.
The conference is about to begin, and Executive Producer Cass Phillipps runs a tight ship, so check back throughout the day for updates.
9am - "Why Successful Startups Fail Better"
"Startups fail because they confuse the search for a business model with the execution of a business model," says keynote speaker Steve Blank. He argues that the metrics for evaluating success for early-stage entrepreneurs is radically different from those of established businesses. "A startup," he adds, "is a temporary organization used to search for a scalable and repeatable business model."
Blank's message to entrepreneurs is to not obsess about polishing the business plan because it won't survive first contact with customers anyway. Instead, managing the transition from scalable startup to a sustainable large company is the art of failing successfully. "The distinction between being a visionary and hallucinating is a very fine line and based on context."
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