'FAIL QUICKLY' AND SIX MORE START-UP LESSONS
23 September 2014, Written by Laura Daquino
‘FAIL quickly’ is Ben Fogarty’s motto, and after learning of the big clients he has scored after only being in business for 18 months, you could bet there is an emphasis on being quick.
1. Become an expert at failure
Fogarty is fixed on the Shorthand team “becoming experts at failure but in a good way”. He is a believer of success through trial and error.
2. Sea-saw between disruptive innovation and sustaining innovation
“It’s important to understand there is a big difference in the way you need to innovate, between sustaining innovation and disruptive innovation, and it’s not one or the other more like an ongoing line you keep sliding across,” says Fogarty.
3. Dive in then learn your stroke
It’s foolish to not know how to swim before diving into a business venture, but that doesn’t mean you need to be an expert at your stroke before taking the plunge.
4. Be flexible enough to bend your business
…but don’t build everything you create into your established offering straight away.
5. You can grow very quickly and still be very protective of your product
Shorthand has grown at a rapid rate, but not at the expense of being selective about how the product is being used.
6. Stray from tradition
Shorthand is anti-tradition in its entirety by challenging the storytelling and news delivery model, so it makes sense that even its smaller product details adhere to this.
7. Float all ideas to get the ball rolling faster
This approach won Shorthand creative license in Nike’s FourFourTwo campaign. The business was also launched through this same approach.