How learning from business failures can help us innovate better?

Learn the UVP/USP of others' to inspire your own UVP/USP design.

How learning from business failures can help us innovate better?

TALK

Yesterday, I was invited to speak on 'understanding business failures: how can we innovate better?'.

One of my key takeaways on the importance of learning from business failures is 'success + failure' learning = competitive insights.

Why? Reason being, in order to scale a business, it's rocket science.

In the presentation deck, I presented how we can draw our competitive advantage or differentiation by learning from the Unique Value Proposition (UVP) or Unique Selling Point (USP) of others' to better design our UVP/USP.

*Disclaimer: Numerous excerpts were paraphrased from the books and articles as cited below in my presentation deck for your further reading.


Author

Paul Lee, Co-founder & CEO, Flipidea

Citation and republishing

Flipidea's articles and reports may be republished in accordance with our Citation Policy and Terms of Service.


References

Beyer, T. (2019). Getting to $50 million: How to avoid the SaaS Valley of Death. Retrieved 30 September 2020, from https://venturebeat.com/2019/03/30/getting-to-50-million-how-to-avoid-the-saas-valley-of-death/

Bygrave, W. D., & Zacharakis, A. (2014). Entrepreneurship, 3rd Edition. Retrieved 30 September 2020, from https://www.oreilly.com/library/view/entrepreneurship-3rd-edition/9781118582893/

Carroccio, B., & Chen, A. (2020). The a16z Marketplace 100. Retrieved 1 October 2020, from https://a16z.com/2020/02/18/marketplace-100/

Dayangku, S. (2020). Despite RM10mil In Funding, Here's The Real Reason Why Offpeak Shut Down After 5 Years. Retrieved 30 September 2020, from https://vulcanpost.com/696046/offpeak-malaysia-food-discount-platform-shut-down-update/

Flaherty, J. (2017). Invisible unicorns: 35 big companies that started with little or no money. Retrieved 1 October 2020, from https://techcrunch.com/2017/07/01/invisible-unicorns-35-big-companies-that-started-with-little-or-no-money/

Flipidea Viewpoints. (2019). What is your definition of business failure? Retrieved 1 October 2020, from https://viewpoints.flipidea.co/what-is-your-definition-of-business-failure/

Janz, C. (2019). What does it take to raise capital, in SaaS, in 2019? Retrieved 19 September 2020, from https://medium.com/point-nine-news/what-does-it-take-to-raise-capital-in-saas-in-2019-26829debef29

Kooij, J. van der (2015). Achieving $1M ARR. What does it mean? Retrieved 30 September 2020, from https://blog.stormventures.com/achieving-1m-arr-what-does-it-mean-da66d37179b3

Lee, P. (2020). Startup VC Funding Metrics & Benchmarks. Retrieved 30 September 2020, from https://viewpoints.flipidea.co/startup-vc-funding-guide/

Lee, P., Kamaluddin, E., Nadzirah, S., & Lai, D. T. C. (2020). Descriptive analysis: why did 500 companies shut down? Retrieved 30 September 2020, from https://viewpoints.flipidea.co/why-did-500-startups-shut-down/

Levy-Weiss, G. (2020). The New Mindset for Product-Market Fit. Retrieved 1 October 2020, from https://www.nfx.com/post/new-mindset-product-market-fit/

McClure, D. & Shorter, S. (2020). VC Fund Secondary: Buy the Winning Ticket at Halftime. Retrieved 6 October 2020, from https://practicalvc.com/vc-fund-secondary-buy-the-winning-ticket-at-halftime-at-half-price/

Nasser, S. (2018). Roadmap to a SaaS IPO: how to unicorn your way to $100M revenue. Retrieved 30 September 2020, from https://medium.com/parisoma-blog/roadmap-to-a-saas-ipo-unicorning-your-way-to-100m-revenue-33e065ce7548

Nobel, C. (2011). Why Companies Fail - and How Their Founders Can Bounce Back. Retrieved 30 September 2020, from https://hbswk.hbs.edu/item/why-companies-failand-how-their-founders-can-bounce-back

Rachitsky, L. (2020). What it feels like when you've found product-market fit - Issue 45. Retrieved 30 September 2020, from https://www.lennyrachitsky.com/p/what-it-feels-like-when-youve-found

Sequoia Capital. (2020). The Matrix for COVID-19. Retrieved 30 September 2020, from https://medium.com/sequoia-capital/the-matrix-for-covid-19-c25bd5195f46

Sparks, A. (2019). Understanding Venture Capital. Holloway Guide To Raising Venture Capital. Retrieved 30 September 2020, from https://www.holloway.com/g/venture-capital/sections/understanding-venture-capital

Suster, M. (2016). Why Raising Too Much Money Can Harm Your Startup. Retrieved 6 October 2020, from https://bothsidesofthetable.com/why-raising-too-much-money-can-harm-your-startup-5adc112e1259

Trivedi, N. B. (2020). Agglomerators vs. Specialists. Retrieved 6 October 2020, https://nbt.substack.com/p/agglomerators-vs-specialists

Turck, M. (2020). Resilience and Vibrancy: The 2020 Data & AI Landscape. Retrieved 1 October 2020, from https://mattturck.com/data2020/

U.S. Small Business Administration. (2019). How Many Businesses Open and Close Each Year? Retrieved 14 June 2020, from https://cdn.advocacy.sba.gov/wp-content/uploads/2019/09/24153946/Frequently-Asked-Questions-Small-Business-2019-1.pdf

Wang, H. Z. (2016). The rise and fall of Shenqibuy, an 18-year-old's million-dollar startup. Retrieved 30 September 2020, from https://alltechasia.com/youthful-exuberance-the-rise-and-fall-of-shenqibuy-an-18-year-olds-million-dollar-startup/

Yuen, H. (2017). VC Math. Retrieved 1 October 2020, from https://hackernoon.com/vc-math-2848971a34a0


By invitation, Paul occasionally conducts guest lectures and seminars on the topics of business management, tech innovation, startups, entrepreneurship, venture capital, and financial investment.

Last edited on 14 March 2021.