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Fail Fast, Fix Fast, Learn Fast | Beatrice Fischel-Bock & Madeline Fraser | TEDxOlympicBlvdWomen


from the very beginning of our

from the very beginning of our entrepreneurial career we have always

entrepreneurial career we have always

entrepreneurial career we have always been a team in fact we have another

been a team in fact we have another

been a team in fact we have another woman that makes up our trio but

woman that makes up our trio but

woman that makes up our trio but speaking in front of people is in her

speaking in front of people is in her

speaking in front of people is in her strong suit so she decided we should

strong suit so she decided we should

strong suit so she decided we should take this one she’s in the audience

take this one she’s in the audience

take this one she’s in the audience somewhere the three of us have been a

somewhere the three of us have been a

somewhere the three of us have been a team that has evolved over the past six

team that has evolved over the past six

team that has evolved over the past six years of friendship three of those years

years of friendship three of those years

years of friendship three of those years on intense journey has brought us here

on intense journey has brought us here

on intense journey has brought us here today we like to think that the way we

today we like to think that the way we

today we like to think that the way we met was fate we met in our very first

met was fate we met in our very first

met was fate we met in our very first architectural drafting class at

architectural drafting class at

architectural drafting class at university Madeline had come from a gap

university Madeline had come from a gap

university Madeline had come from a gap year in India Lizzio transferred schools

year in India Lizzio transferred schools

year in India Lizzio transferred schools and I was switching majors we had no

and I was switching majors we had no

and I was switching majors we had no connections to each other but somehow

connections to each other but somehow

connections to each other but somehow gravitated towards one another looking

gravitated towards one another looking

gravitated towards one another looking back we were uniquely different women

back we were uniquely different women

back we were uniquely different women with a shared spirit to be out of the

with a shared spirit to be out of the

with a shared spirit to be out of the ordinary and an inherent drive to do

ordinary and an inherent drive to do

ordinary and an inherent drive to do something big

something big

something big separately we were three strong

separately we were three strong

separately we were three strong individuals but together we were one a

individuals but together we were one a

individuals but together we were one a hell of a powerful unit Henry Ford says

hell of a powerful unit Henry Ford says

hell of a powerful unit Henry Ford says coming together is a beginning keeping

coming together is a beginning keeping

coming together is a beginning keeping together is progress working together is

together is progress working together is

together is progress working together is success we can finally say we’ve reached

success we can finally say we’ve reached

success we can finally say we’ve reached stage 3 and would like to impart some of

stage 3 and would like to impart some of

stage 3 and would like to impart some of what we’ve learned along the way being 3

what we’ve learned along the way being 3

what we’ve learned along the way being 3 woman’s navigating the tech startup

woman’s navigating the tech startup

woman’s navigating the tech startup world has been an adventure that never

world has been an adventure that never

world has been an adventure that never ceases to amaze and surprise us almost

ceases to amaze and surprise us almost

ceases to amaze and surprise us almost on a daily basis we have grown

on a daily basis we have grown

on a daily basis we have grown individually as women but more

individually as women but more

individually as women but more importantly have grown as a team we have

importantly have grown as a team we have

importantly have grown as a team we have been a team in all sense of the word we

been a team in all sense of the word we

been a team in all sense of the word we were a team navigating through

were a team navigating through

were a team navigating through University and Design School we were a

University and Design School we were a

University and Design School we were a team facing a parents divorce cancer

team facing a parents divorce cancer

team facing a parents divorce cancer death and an incurable diagnosis and we

death and an incurable diagnosis and we

death and an incurable diagnosis and we were a team deciding to start our first

were a team deciding to start our first

were a team deciding to start our first business our junior year of college some

business our junior year of college some

business our junior year of college some friends come together when spirits are

friends come together when spirits are

friends come together when spirits are high and there is something to celebrate

high and there is something to celebrate

high and there is something to celebrate others come together in grief and in

others come together in grief and in

others come together in grief and in support we came together to face it all

support we came together to face it all

support we came together to face it all a quote from Winston Churchill that

a quote from Winston Churchill that

a quote from Winston Churchill that perfectly describes us and how we now

perfectly describes us and how we now

perfectly describes us and how we now define success success is stumbling from

define success success is stumbling from

define success success is stumbling from failure to failure with no loss of

failure to failure with no loss of

failure to failure with no loss of enthusiasm through our time together

enthusiasm through our time together

enthusiasm through our time together we’ve learned that failure is a huge and

we’ve learned that failure is a huge and

we’ve learned that failure is a huge and inevitable part of life what sets you

inevitable part of life what sets you

inevitable part of life what sets you apart from your failure is your ability

apart from your failure is your ability

apart from your failure is your ability your ability to accept the failure and

your ability to accept the failure and

your ability to accept the failure and have an enthusiasm and willingness to

have an enthusiasm and willingness to

have an enthusiasm and willingness to keep going life is 10% the things that

keep going life is 10% the things that

keep going life is 10% the things that happen to you 90% how you react to those

happen to you 90% how you react to those

happen to you 90% how you react to those things we’ve developed a mantra on our

things we’ve developed a mantra on our

things we’ve developed a mantra on our fan trip friendship that we’ve

fan trip friendship that we’ve

fan trip friendship that we’ve integrated into our company today fail

integrated into our company today fail

integrated into our company today fail fast fix fast and learn fast a lot of

fast fix fast and learn fast a lot of

fast fix fast and learn fast a lot of people ask us how we can be such close

people ask us how we can be such close

people ask us how we can be such close friends and run a business together to

friends and run a business together to

friends and run a business together to live together also there’s a lot of work

live together also there’s a lot of work

live together also there’s a lot of work together all the time if we boil it down

together all the time if we boil it down

together all the time if we boil it down it actually comes down to the stamina

it actually comes down to the stamina

it actually comes down to the stamina that we’ve been able to maintain through

that we’ve been able to maintain through

that we’ve been able to maintain through every last hiccup one of our first

every last hiccup one of our first

every last hiccup one of our first failures in business was when we decided

failures in business was when we decided

failures in business was when we decided to enter a business plan competition our

to enter a business plan competition our

to enter a business plan competition our junior year of college we had decided we

junior year of college we had decided we

junior year of college we had decided we were going to start a virtual interior

were going to start a virtual interior

were going to start a virtual interior design company we didn’t know exactly

design company we didn’t know exactly

design company we didn’t know exactly what it meant all we knew is that we

what it meant all we knew is that we

what it meant all we knew is that we were going to start charging for a

were going to start charging for a

were going to start charging for a service that we were already providing

service that we were already providing

service that we were already providing our friends and family designing their

our friends and family designing their

our friends and family designing their spaces through photographs and online

spaces through photographs and online

spaces through photographs and online shopping something we definitely knew

shopping something we definitely knew

shopping something we definitely knew how to do around that time our

how to do around that time our

how to do around that time our university was hosting a school-wide

university was hosting a school-wide

university was hosting a school-wide business plan competition with a $60,000

business plan competition with a $60,000

business plan competition with a $60,000 prize to start your first business the

prize to start your first business the

prize to start your first business the power of three made us courageous enough

power of three made us courageous enough

power of three made us courageous enough to say let’s apply so we had two weeks

to say let’s apply so we had two weeks

to say let’s apply so we had two weeks to write an executive summary small

to write an executive summary small

to write an executive summary small problem what’s an executive summary

problem what’s an executive summary

problem what’s an executive summary we attended a lecture for all of the

we attended a lecture for all of the

we attended a lecture for all of the applicants to get to know one another

applicants to get to know one another

applicants to get to know one another and to learn how to write this so-called

and to learn how to write this so-called

and to learn how to write this so-called executive summary and business plan and

executive summary and business plan and

executive summary and business plan and as we sat there in the lecture it was

as we sat there in the lecture it was

as we sat there in the lecture it was filled with mostly business and grad

filled with mostly business and grad

filled with mostly business and grad students and of course mostly men then

students and of course mostly men then

students and of course mostly men then we were really actually the first people

we were really actually the first people

we were really actually the first people from our design school to apply so as we

from our design school to apply so as we

from our design school to apply so as we sat there listening we felt very blonde

sat there listening we felt very blonde

sat there listening we felt very blonde very out of place and very intimidated

very out of place and very intimidated

very out of place and very intimidated something special about our trio is that

something special about our trio is that

something special about our trio is that when one of us stumbles when one of us

when one of us stumbles when one of us

when one of us stumbles when one of us doesn’t have the courage the other two

doesn’t have the courage the other two

doesn’t have the courage the other two are there to pick us up

are there to pick us up

are there to pick us up luckily we have a knack for each

luckily we have a knack for each

luckily we have a knack for each stumbling at different times so there’s

stumbling at different times so there’s

stumbling at different times so there’s always been someone there with the

always been someone there with the

always been someone there with the silver lining and this case was no

silver lining and this case was no

silver lining and this case was no different one of us we won’t name names

different one of us we won’t name names

different one of us we won’t name names did not want to go through with it and

did not want to go through with it and

did not want to go through with it and the other to whip her into shape so

the other to whip her into shape so

the other to whip her into shape so needless to say we spent countless

needless to say we spent countless

needless to say we spent countless grueling hours poring over exactly what

grueling hours poring over exactly what

grueling hours poring over exactly what it meant to start a business and we came

it meant to start a business and we came

it meant to start a business and we came out with our heads held high with the

out with our heads held high with the

out with our heads held high with the executive summary of the century we

executive summary of the century we

executive summary of the century we submitted the proposal the next day and

submitted the proposal the next day and

submitted the proposal the next day and we got a response rejected our first big

we got a response rejected our first big

we got a response rejected our first big step starting our business and it was a

step starting our business and it was a

step starting our business and it was a big fat fail we don’t didn’t know what

big fat fail we don’t didn’t know what

big fat fail we don’t didn’t know what we were doing and apparently the idea

we were doing and apparently the idea

we were doing and apparently the idea wasn’t even good enough to be given the

wasn’t even good enough to be given the

wasn’t even good enough to be given the chance to put a business plan together

chance to put a business plan together

chance to put a business plan together this could have ended our journey right

this could have ended our journey right

this could have ended our journey right there we could have said we’re proud of

there we could have said we’re proud of

there we could have said we’re proud of ourselves we tried it is what it is

ourselves we tried it is what it is

ourselves we tried it is what it is luckily we had the naive ignorance and

luckily we had the naive ignorance and

luckily we had the naive ignorance and ego that 20 year olds have and decided

ego that 20 year olds have and decided

ego that 20 year olds have and decided to take what we had learned in our

to take what we had learned in our

to take what we had learned in our one-page executive summary and put words

one-page executive summary and put words

one-page executive summary and put words into action we had someone in our class

into action we had someone in our class

into action we had someone in our class put together a very basic website and

put together a very basic website and

put together a very basic website and printed business cards and we were ready

printed business cards and we were ready

printed business cards and we were ready for action what followed was two years

for action what followed was two years

for action what followed was two years of constant and we mean constant ups and

of constant and we mean constant ups and

of constant and we mean constant ups and downs failures and small wins in both

downs failures and small wins in both

downs failures and small wins in both our personal lives and in our business

our personal lives and in our business

our personal lives and in our business through it all we had our one constant

through it all we had our one constant

through it all we had our one constant we were a team that accepted failure we

we were a team that accepted failure we

we were a team that accepted failure we were a team that found humor in our

were a team that found humor in our

were a team that found humor in our little and big dejected moments and we

little and big dejected moments and we

little and big dejected moments and we were a team with a prevailing commitment

were a team with a prevailing commitment

were a team with a prevailing commitment to learn and to just keep going Arianna

to learn and to just keep going Arianna

to learn and to just keep going Arianna Huffington says that failure is not the

Huffington says that failure is not the

Huffington says that failure is not the opposite of success failure is

opposite of success failure is

opposite of success failure is being stoned to success it’s with that

being stoned to success it’s with that

being stoned to success it’s with that mentality that we enter darkness next

mentality that we enter darkness next

mentality that we enter darkness next business competition shark tank we were

business competition shark tank we were

business competition shark tank we were coming out of two years of hustle we

coming out of two years of hustle we

coming out of two years of hustle we were the designers the executives and

were the designers the executives and

were the designers the executives and wait for it the Handy men installing our

wait for it the Handy men installing our

wait for it the Handy men installing our own designs I am so happy to say that we

own designs I am so happy to say that we

own designs I am so happy to say that we have mastered the art of the drill we

have mastered the art of the drill we

have mastered the art of the drill we have won that’s true we had grown and

have won that’s true we had grown and

have won that’s true we had grown and there was real money flowing into the

there was real money flowing into the

there was real money flowing into the business but it wasn’t sustainable

business but it wasn’t sustainable

business but it wasn’t sustainable something big had to happen shark tank

something big had to happen shark tank

something big had to happen shark tank was big 8 million viewers money a mentor

was big 8 million viewers money a mentor

was big 8 million viewers money a mentor that’s what we needed so we went for it

that’s what we needed so we went for it

that’s what we needed so we went for it cold emailed casting and we were

cold emailed casting and we were

cold emailed casting and we were accepted into the application process

accepted into the application process

accepted into the application process whoo-hoo what ensued was six months of

whoo-hoo what ensued was six months of

whoo-hoo what ensued was six months of video applications and a self-taught MBA

video applications and a self-taught MBA

video applications and a self-taught MBA we read text books watch tutorials and

we read text books watch tutorials and

we read text books watch tutorials and even learn the basics of accounting all

even learn the basics of accounting all

even learn the basics of accounting all of this was going to be worth it because

of this was going to be worth it because

of this was going to be worth it because once we were on the show it could only

once we were on the show it could only

once we were on the show it could only go up from there well basically what

go up from there well basically what

go up from there well basically what we’re up here presenting as you can

we’re up here presenting as you can

we’re up here presenting as you can guess Shark Tank wasn’t all we had hoped

guess Shark Tank wasn’t all we had hoped

guess Shark Tank wasn’t all we had hoped it would be although we made a deal on

it would be although we made a deal on

it would be although we made a deal on air the terms were not favorable and it

air the terms were not favorable and it

air the terms were not favorable and it was not something we could go through

was not something we could go through

was not something we could go through with the episode brought traffic but

with the episode brought traffic but

with the episode brought traffic but nothing meaningful to turn things around

nothing meaningful to turn things around

nothing meaningful to turn things around for the future scale and growth of the

for the future scale and growth of the

for the future scale and growth of the business this particular failure brought

business this particular failure brought

business this particular failure brought about a poignant moment in our journey

about a poignant moment in our journey

about a poignant moment in our journey that brought us to a company today it

that brought us to a company today it

that brought us to a company today it was two months after the episode had

was two months after the episode had

was two months after the episode had aired and we were still dealing with the

aired and we were still dealing with the

aired and we were still dealing with the influx of traffic people liked the idea

influx of traffic people liked the idea

influx of traffic people liked the idea that was for sure but the economics not

that was for sure but the economics not

that was for sure but the economics not so much it was 2:00 a.m. we hadn’t slept

so much it was 2:00 a.m. we hadn’t slept

so much it was 2:00 a.m. we hadn’t slept we were swamped and then we had just

we were swamped and then we had just

we were swamped and then we had just gone an email that episode was rearing

gone an email that episode was rearing

gone an email that episode was rearing in a week defeated it is exactly how to

in a week defeated it is exactly how to

in a week defeated it is exactly how to define how he felt in that moment we

define how he felt in that moment we

define how he felt in that moment we this kind of exposure should be a

this kind of exposure should be a

this kind of exposure should be a positive not what was inevitably going

positive not what was inevitably going

positive not what was inevitably going to sink us

to sink us

to sink us something big had to happen we had to

something big had to happen we had to

something big had to happen we had to make a change so in that moment

make a change so in that moment

make a change so in that moment exhausted and hangry we all just kind of

exhausted and hangry we all just kind of

exhausted and hangry we all just kind of looked at each other and started

looked at each other and started

looked at each other and started hysterically laughing almost in a what

hysterically laughing almost in a what

hysterically laughing almost in a what the we can’t believe how badly

the we can’t believe how badly

the we can’t believe how badly is hitting the fan kind of life

is hitting the fan kind of life

is hitting the fan kind of life and somehow in our serie we sunk down

and somehow in our serie we sunk down

and somehow in our serie we sunk down out of our desk chairs and onto the

out of our desk chairs and onto the

out of our desk chairs and onto the floor where we lay there side-by-side

floor where we lay there side-by-side

floor where we lay there side-by-side taking it all in and as we started to

taking it all in and as we started to

taking it all in and as we started to calm down from our laughter we started

calm down from our laughter we started

calm down from our laughter we started to cry it was a feeling of utter

to cry it was a feeling of utter

to cry it was a feeling of utter weakness a moment when we stomped and

weakness a moment when we stomped and

weakness a moment when we stomped and didn’t fully know how we would move

didn’t fully know how we would move

didn’t fully know how we would move forward what if this was a failure that

forward what if this was a failure that

forward what if this was a failure that would break the camel’s back where would

would break the camel’s back where would

would break the camel’s back where would we go from here

we go from here

we go from here all we knew was that we had come too far

all we knew was that we had come too far

all we knew was that we had come too far and worked too hard to see it all end so

and worked too hard to see it all end so

and worked too hard to see it all end so right then in there we decided to make

right then in there we decided to make

right then in there we decided to make some substantial changes to fix the

some substantial changes to fix the

some substantial changes to fix the situation we were in what did we learn

situation we were in what did we learn

situation we were in what did we learn from this shark tank failure or shall we

from this shark tank failure or shall we

from this shark tank failure or shall we call it an experience number one we

call it an experience number one we

call it an experience number one we learned that we definitely needed some

learned that we definitely needed some

learned that we definitely needed some real investor money and number two we

real investor money and number two we

real investor money and number two we learned that we needed some key players

learned that we needed some key players

learned that we needed some key players to add to the team first step move to

to add to the team first step move to

to add to the team first step move to the west coast immediately to make one

the west coast immediately to make one

the west coast immediately to make one and to happen one of us left our

and to happen one of us left our

and to happen one of us left our husbands behind at medical school he’s

husbands behind at medical school he’s

husbands behind at medical school he’s not happy

not happy

not happy we sublet our apartments and we were in

we sublet our apartments and we were in

we sublet our apartments and we were in our headquarters a Starbucks in West LA

our headquarters a Starbucks in West LA

our headquarters a Starbucks in West LA within a week from there we met our

within a week from there we met our

within a week from there we met our game-changing partners and we were

game-changing partners and we were

game-changing partners and we were finally in the right place at the right

finally in the right place at the right

finally in the right place at the right time it took our unified ability to

time it took our unified ability to

time it took our unified ability to accept our failure a resolve to fix and

accept our failure a resolve to fix and

accept our failure a resolve to fix and learn from it and ultimately a belief in

learn from it and ultimately a belief in

learn from it and ultimately a belief in ourselves and what we were doing back to

ourselves and what we were doing back to

ourselves and what we were doing back to our friend Winston Churchill success is

our friend Winston Churchill success is

our friend Winston Churchill success is not final failure is not fatal it is the

not final failure is not fatal it is the

not final failure is not fatal it is the courage to continue that counts

courage to continue that counts

courage to continue that counts sometimes you need a little help to find

sometimes you need a little help to find

sometimes you need a little help to find that courage before one of my venture

that courage before one of my venture

that courage before one of my venture capital meetings I was in San Francisco

capital meetings I was in San Francisco

capital meetings I was in San Francisco at a coffee shop preparing Madeline

at a coffee shop preparing Madeline

at a coffee shop preparing Madeline called me task I was because this was

called me task I was because this was

called me task I was because this was not my first meeting and it was getting

not my first meeting and it was getting

not my first meeting and it was getting harder and harder to keep the stamina

harder and harder to keep the stamina

harder and harder to keep the stamina going I told her how do you think I’m

going I told her how do you think I’m

going I told her how do you think I’m doing not good I didn’t go to business

doing not good I didn’t go to business

doing not good I didn’t go to business school only 2.7 percent of female CEO

school only 2.7 percent of female CEO

school only 2.7 percent of female CEO startups get funding the odds are

startups get funding the odds are

startups get funding the odds are against us I shouldn’t do this her

against us I shouldn’t do this her

against us I shouldn’t do this her response was so what just go for it

response was so what just go for it

response was so what just go for it what’s the worst that can happen it’ll

what’s the worst that can happen it’ll

what’s the worst that can happen it’ll be another failure to learn from so she

be another failure to learn from so she

be another failure to learn from so she summoned the comp

summoned the comp

summoned the comp and courage that I helped her find and

and courage that I helped her find and

and courage that I helped her find and she went into that meeting with a power

she went into that meeting with a power

she went into that meeting with a power and fire that could only be created by

and fire that could only be created by

and fire that could only be created by accepting and embracing the possibility

accepting and embracing the possibility

accepting and embracing the possibility of more failure by just going for it we

of more failure by just going for it we

of more failure by just going for it we came out with our first two million in

came out with our first two million in

came out with our first two million in funding from a top VC firm

it was a good day since that first race

it was a good day since that first race we have continued to grow our business

we have continued to grow our business

we have continued to grow our business from a small founding team to a powerful

from a small founding team to a powerful

from a small founding team to a powerful team of 30 we have continued to raise

team of 30 we have continued to raise

team of 30 we have continued to raise more funding and through our success we

more funding and through our success we

more funding and through our success we have continued to experience failure

have continued to experience failure

have continued to experience failure time and time again our one constant

time and time again our one constant

time and time again our one constant aside from always having each other when

aside from always having each other when

aside from always having each other when we fail we fail fast we fix fast and we

we fail we fail fast we fix fast and we

we fail we fail fast we fix fast and we learn fast when you look at failure that

learn fast when you look at failure that

learn fast when you look at failure that way when you embrace it the times you

way when you embrace it the times you

way when you embrace it the times you fail are not definitive they become part

fail are not definitive they become part

fail are not definitive they become part of the journey the bumps in the road

of the journey the bumps in the road

of the journey the bumps in the road that make you bigger better and tougher

that make you bigger better and tougher

that make you bigger better and tougher we’re not standing up here today telling

we’re not standing up here today telling

we’re not standing up here today telling you that the courage to fail is all it

you that the courage to fail is all it

you that the courage to fail is all it takes in the end it takes hard work it

takes in the end it takes hard work it

takes in the end it takes hard work it takes dedication and it takes a will to

takes dedication and it takes a will to

takes dedication and it takes a will to just keep pushing through and maybe some

just keep pushing through and maybe some

just keep pushing through and maybe some sessions crying on the floor Elon Musk

sessions crying on the floor Elon Musk

sessions crying on the floor Elon Musk says that if you’re not failing you’re

says that if you’re not failing you’re

says that if you’re not failing you’re not innovating enough this is true in

not innovating enough this is true in

not innovating enough this is true in business and it’s also true in life

business and it’s also true in life

business and it’s also true in life failure is inevitable what you do with

failure is inevitable what you do with

failure is inevitable what you do with it now that’s up to you

”

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