Why meeting failure can make you a "true and reliable" entrepreneur

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Last week, when I attended a coaching meeting at the FailCon Congress in San Francisco, there was a constant notion that entrepreneurs should be "authentic".

When I first came to this conference, I listened to many different speakers and exchanged views with many participants. I've been thinking, "Wow, these people really need a hug!" But as the meeting started, my thoughts began to shift, thinking about a different concept, "authenticity, reliability."

Here, I might as well introduce some background. I often hear from colleagues and mentors at Stanford University that the idea of entrepreneurship is to be "trustworthy" to the market. The clever teachers such as Mark Leslie and Andy Rachleff have taught the idea to be as plain as vernacular. Their new structure course at the Graduate School of Business Administration is well received by students, and the author is currently teaching the subject.

"Being authentic" means that the entrepreneur must understand the market environment in which they live, and must be hands-on to solve the problem. But it is a prerequisite, that is to say, the entrepreneur must have enough knowledge of the market, and then find a product and the best fit of the market, so that there will be more opportunities to become a successful enterprise.

But there is another side to true reliability, and this side is equally worthy of our careful consideration. With the failcon of the day, one of the things that surprised the writer was that the speakers and the attendees were not overwhelmed by their failed projects or companies, most of them looking for opportunities to learn how to avoid a second failure. Attendees are looking for ways to improve their skills and talents so they won't make the same mistakes in the future. They want to learn from the failure of others so that when they try again, they avoid failure.

The author finds that failure is authentic.

At the end of the meeting, I realised that the conference on startup failures was really different, and that it was similar to the one we taught in xseed to entrepreneurs. That is, to make the most original mistakes, not to commit the mistakes that others have made. Most other meetings will always share the stories of successful startups, who are always admired for their success. The FailCon startup Losers conference is the opposite, but very good.

Last year, I moved back to Silicon Valley, and I think it's a particularly difficult thing to talk about a person's failure, especially in a cultural environment like today. If you read the recent New Yorker article on San Francisco's entrepreneurial culture, you might even think that everyone is an entrepreneurial star, you're not! Although there are still a lot of success stories in the Bay Area of Silicon Valley, the present environment makes it very difficult for people to talk openly about failure.

No one is perfect and no one lives a perfect life. While most CEOs are always optimistic and have a positive attitude, there is no denying that most startups have failed or near-death experiences.

Best of all, I would like to comment highly on this conference, because what they do is very important and valuable. Although failure is not the reason why every entrepreneur gets up early in the morning, it is a brave thing to discuss his own failure in public.