104: How to Fail Well and Fail Fast with Dan Duncan of Oust Lab



In theory, launchers know they will fail nothing is ever perfectly successful the first go round. And while most of us know that to be true, we still struggle when the inevitable happens, often leaving us shaken and wondering if we were cut out to launch in the first place.

Meet Dan Duncan, creative director and co-founder of Oust, an Atlanta-based creative studio that helps startups get their footing, whether through creativity or investment. Dan says the key for any entrepreneur or intrapreneur s success? Failing fast and failing well. Join us on today s episode to learn what it means to fail successfully, why perfectionism is the enemy to success, and the tools you need to be confident in your idea or product.

Welcome to episode 104 of the Executive Minds Podcast.

Links + Resources:

Oust Brand + Film Studio

Simon Sinek s WHY discovery workshop

091: Creating the Culture You Want

Red Antler

069: When Passion and Heart Lead the Way: Dana Spinola of fab rik

The 5 Elements of the Launch Loop

Elevator Pitch

The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses

Personal Brand Assessment

Four Takeaways:

1. Avoid the pitfall of appearing successful.
The quickest way to fail? Focus more on looking like a success story instead of operating from a place of creative efficiency. The most logical path to success is having a product or service that meets a need and one you re willing to change should the need arise. Don t let your image and pride get in the way of the big picture.

2. Be confident.
No one else will believe in your idea unless you do. People will doubt your idea and ask questions that s their job. It s your job to answer those questions with boldness and belief that you re doing what you re meant to do. If your idea is good, after a while, others will buy into it, too.

3. Don t be afraid to fail.
Failure isn t optional in launching. The key is to fail fast. Remember: Your first version will likely not be your last version, so create the first version, get feedback, create version two and repeat as often as necessary.

4. Surround yourself with peers six to 12 months ahead of you.
It s easy to feel comfortable around a group of people who are in the same stage you re in, but Dan encourages launchers to surround themselves with people who are just one step ahead people who have been exactly where you are and have made it through. They can offer sound advice and the encouragement you need to persevere through the rough times.

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