Hellas Direct - International Day for Failure
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Presentation by Emilios and Alexis, co-founders of Hellas Direct, to students at the Athens University of Economics and Business. [International Day for Failure - 11 Oct 2012]
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Hellas Direct - International Day for Failure
- 1. LESSONS IN FAILURE: SETTING UP AN INSURANCE COMPANY IN GREECE (“YOU WILL F*CK UP – YOU BETTER GET USED TO IT”!) INTERNATIONAL DAY FOR FAILURE ATHENS UNIVERSITY OF ECONOMICS AND BUSINESS 11 OCTOBER 2012
- 2. SOMETIMES YOU F*CK UP BIG … Titanic (1912) Search for aliens (1958) The Lewinsky Scandal (1998) 1,502 USD 200,000,000,000 USD 40,000,000 people dead* space programme investigation * and a Leonardo di Caprio movie
- 3. … AND SOMETIMES YOU GET LUCKY! Tower of Pisa (1372) Corn Flakes (1894) Post-it (1967) 1,000,000 128,000,000,000 USD 3,400,000,000 tourists per year bowls per year revenue per year
- 4. FAILURE IS STILL VIEWED AS A TABOO … 5.2 million books 500 billion words Books mentioning the word “success” 6x Books mentioning the word “failure” 1840 1920 2000 Source: nGram Viewer
- 5. … BUT PEOPLE ARE WARMING UP TO IT Johnnie Walker (1998) Nike (2006) Apple (2012) Roberto Baggio Michael Jordan Steve Jobs
- 6. THE NATURE OF FAILURE HAS CHANGED … Neanderthal (40,000 BC) Modern Human (2012) HIERARCHY OF NEEDS SELF ACTUALISATION ESTEEM LOVE SAFETY PHYSIOLOGICAL NEEDS Failure? No food. Failure? No Likes.
- 7. … AND THE STAKES ARE MUCH HIGHER BOOKSTORES HAVE A HUGE … OFTEN DISPLAYED NEXT TO A NUMBER OF BOOKS, WHICH BUILD SECTION OF SELF-HELP BOOKS ON UNREALISTIC EXPECTATIONS … HOW TO DEAL WITH FAILURE. D’OH!
- 8. WE ARE SETTING UNREALISTIC EXPECTATIONS IS “GENERATION Y” DESTINED TO FAIL? (THAT’S YOU BY THE WAY!)
- 10. IF THERE IS ONE MESSAGE WE WANT YOU TO TAKE AWAY FROM TODAY’S TALK IS THIS: IT’S OK TO FAIL! (YOU WILL MOST DEFINITELY DO SO)
- 11. WHAT’S OUR STORY? ¡ A NEW, DIRECT INSURANCE COMPANY. ¡ “CHANGING THE GREEK INSURANCE MARKET, ONE POLICY AT A TIME”. ¡ WE ARE HIGHLY SPECIALISED. ¡ WE LIVE AND BREATHE TECHNOLOGY. ¡ WE LOVE NUMBERS. ¡ 23 PEOPLE IN 3 COUNTRIES. ¡ 3 YEARS TO PUT THIS ALL TOGETHER. ¡ WE F*CKED UP TOO MANY TIMES TO MENTION…
- 12. FINDING INVESTORS WAS TOUGH … 2,500 approaches 300 meetings 1:8 11 investors 1:27 1.5 years
- 13. … THAT’S A 99.56% REJECTION RATE! THERE IS A HIGHER CHANCE OF BETTING ALL YOUR MONEY ON BLACK IN THE ROULETTE FOR 7 CONSECUTIVE TIMES … … AND WINNING!
- 14. PHILOSOPHICAL QUESTION OF THE DAY: ARE ENTREPRENEURS ATTRACTED TO THE RISK OF FAILURE? (TO BE DISCUSSED OVER ALCOHOL!)
- 15. THREE KEY LEARNINGS: A. GET IN THE RING - YOU CANNOT SUCCEED WITHOUT TRYING. YOU WILL FALL - HOW QUICKLY CAN YOU GET UP AGAIN?
- 16. THREE KEY LEARNINGS: B. IT IS THE PERCEPTION OF FAILURE THAT SCARES PEOPLE. OWN YOUR FAILURE – DON’T LIVE SOMEONE ELSE’S DREAM.
- 17. THREE KEY LEARNINGS: C. THE ODDS WILL ALWAYS BE AGAINST YOU – PLAN WELL. BELIEVE IN THE DREAM, KEEP SMILING AND ENJOY THE RIDE!
- 18. AND THREE BOOKS THAT INSPIRED US
- 19. THANK YOU