12 Lessons from Failure for all of us by Bill Gross at LeWeb 2011 [VIDEO]

For the last few years, my daily routine goes something like this, I am up around 4am, I then head over to my home office and slowly fully wake up as I listen to something positive, for example a Joel Osteen podcast, or an inspiring audio book, or I read a good book on my Kindle. I just would not dare tackle the day without a positive mind-set, especially now that I’m venturing out on my own. Next, with the help of all my Tablets (iPad, Xoom, Kindles and Kindle Fire and Nook) plus iPhone and Droid2, I begin my daily expedition in search of great content that I can learn from and share with my followers. Some of the mobile apps and sites I use for this, include Flipboard, Google Currents, HitPad, Zite and on the web I mostly go to techmeme.com and news.google.com. With so much information being shared these days, there’s always something good out there. However, every now and then, I come across something amazing that I often have watch twice and clip over to my Evernote account. Such is the case with the video below of Mr. Bill Gross delivering a presentation at the famous LeWeb conference in Paris. For the record, I don’t really see where he failed, but I supposed it makes for a great title.

I found the presentation to be absolutely amazing and the stories he shared around his 12 lessons, inspiring, but perhaps the biggest lesson for me is one that isn’t even mentioned by him, namely:

Ideas are all around us

They say that necessity is the mother of all invention and throughout his presentation, Bill tapped into a lot of his ventures by simply observing his world around him, as in the case of when he dropped off his son at Kindergarten, which led him to develop Knowledge Adventure as a way for children to fall in love with learning. So much to learn from this story.

I don’t think you have to be an Entrepreneur to be inspired by this presentation, I think there are lessons for all of us regardless of what we do in life. Please check it out and let me know what lesson resonates best with you.

For me, I absolutely love lessons 2, 3, 5, 9 and 11.

  1. Market Power Rules. Try to find a rapidly growing market — it’s like running a race with a strong wind at your back.
  2. Master the Demo. Learning how to sell, to pitch, to explain, to demonstrate is one of the most valuable, entrepreneurial skills.
  3. Pursue Your Passion. Work at something you love — Every business will face huge challenges that you will only overcome if you have deep passion for the idea.
  4. Focus, Focus, Focus. Is almost always better, even if you pick the wrong focus. Do fewer things extraordinarily well.
  5. Recognize Your Strengths. Design a structure around them, and balance that by hiring complementary skills.
  6. Don’t Overbuild — The world can change fast. It’s better to grow slowly than to go out of business with over-capacity.
  7. Survive until the market is Ready — If you have a great offering, but the market isn’t ready for you yet, immediately cut your burn to survive until the market IS there.
  8. Test, Test, Test — Find a way to test your core proposition with your customer and manage your resources to adopt that learning.
  9. Stick With It — When you have a great idea, stick with it despite what the critics say.
  10. Find Essential Partners — If you have a world-changing idea with huge capital requirements, work hard to get the partners you need to achieve your vision.
  11. Harness your users’ Passion –In the new world of media you must create automated ways for your customers to bring you new customers.
  12. All Truth passes through 3 stages — 1) First, it’s ridiculed; 2) It’s violently opposed 3) it’s accepted as being self-evident

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