Dealing with failure

The news was out yesterday about Morten Lund’s bankruptcy following his bad investment on a Danish newspaper.

Lunds’s is a VC / Angel with more than 80 high-tech start ups including Skype and ZYB) and when he fails and writes about it, it’s definitely valuable information. Learning from failure gives you the knowledge to deal with it accordingly. The more you learn about failure the less you feel afraid of it.

At Le Web Lund did an inspiring talk talking about that failure and what really matters in business and life. His thoughts are great and this comment summarizes very well the takeaway points of that talk:

  • Can’t decouple risk from return and risk from impact. Risk takers must be ready to lose.
  • Entrepreneurship might not be for you. Do you love what you’re doing even in a terrible climate?
  • Good people mandatory, smart people who have done real things. Not “smart-asses.”
  • Build on revenue.
  • Act instead of talking.
  • Frugality and focus on value, not cash in the bank, is healthy.

Really good advice in there.

See the video of his talk for all the inspiration:

January 15, 2009 | Tags: , , ,  

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