Success and Self-Confidence Through Rejection | Ted Ladd | TEDxHultAshridge

the grizzly bear has been honed by

the grizzly bear has been honed by evolution to be the perfect predator it

evolution to be the perfect predator it

evolution to be the perfect predator it can weigh up to 600 pounds or 300

can weigh up to 600 pounds or 300

can weigh up to 600 pounds or 300 kilograms it can run faster than any

kilograms it can run faster than any

kilograms it can run faster than any horse and certainly faster than any

horse and certainly faster than any

horse and certainly faster than any human it is at the top of its food chain

human it is at the top of its food chain

human it is at the top of its food chain and is able to chase catch and consume

and is able to chase catch and consume

and is able to chase catch and consume any land animal in North America its

any land animal in North America its

any land animal in North America its Latin name is Ursus horribilis

Latin name is Ursus horribilis

Latin name is Ursus horribilis the horrible bear when I was a young man

the horrible bear when I was a young man

the horrible bear when I was a young man I herded cattle horses and tourists

I herded cattle horses and tourists

I herded cattle horses and tourists through the Rocky Mountains of Wyoming I

through the Rocky Mountains of Wyoming I

through the Rocky Mountains of Wyoming I wasn’t just comfortable in the

wasn’t just comfortable in the

wasn’t just comfortable in the wilderness I craved it the solitude of

wilderness I craved it the solitude of

wilderness I craved it the solitude of wild rugged landscapes and wild rugged

wild rugged landscapes and wild rugged

wild rugged landscapes and wild rugged animals like the grizzly bear mountain

animals like the grizzly bear mountain

animals like the grizzly bear mountain lion deer elk they forged my character

lion deer elk they forged my character

lion deer elk they forged my character and they fed my soul so when I got my

and they fed my soul so when I got my

and they fed my soul so when I got my high school college was not enticing so

high school college was not enticing so

high school college was not enticing so I didn’t go

I didn’t go

I didn’t go instead I joined the state agency that

instead I joined the state agency that

instead I joined the state agency that monitors and tracks and protects grizzly

monitors and tracks and protects grizzly

monitors and tracks and protects grizzly bears what better way I thought for me

bears what better way I thought for me

bears what better way I thought for me to expand and extend my love of the

to expand and extend my love of the

to expand and extend my love of the wilderness than to study these animals I

wilderness than to study these animals I

wilderness than to study these animals I was wrong

was wrong

was wrong typically when I would travel through

typically when I would travel through

typically when I would travel through the backcountry

the backcountry

the backcountry I would intentionally avoid grizzly

I would intentionally avoid grizzly

I would intentionally avoid grizzly bears or I’d make loud noises to scare

bears or I’d make loud noises to scare

bears or I’d make loud noises to scare them away now in this job I was trying

them away now in this job I was trying

them away now in this job I was trying to find grizzly bears and trying to

to find grizzly bears and trying to

to find grizzly bears and trying to sneak up on them studying their

sneak up on them studying their

sneak up on them studying their carnivorous habits brought that

carnivorous habits brought that

carnivorous habits brought that knowledge from the background into the

knowledge from the background into the

knowledge from the background into the foreground I was terrified during the

foreground I was terrified during the

foreground I was terrified during the day as I was walking on trails a branch

day as I was walking on trails a branch

day as I was walking on trails a branch would break and I was absolutely sure

would break and I was absolutely sure

would break and I was absolutely sure that it was a grizzly bear ready to eat

that it was a grizzly bear ready to eat

that it was a grizzly bear ready to eat me I would see a stump and was sure that

me I would see a stump and was sure that

me I would see a stump and was sure that it was a gruesome everyday evening at

it was a gruesome everyday evening at

it was a gruesome everyday evening at night lying in my tent was the worst I

night lying in my tent was the worst I

night lying in my tent was the worst I thought that I was a grizzly bear

thought that I was a grizzly bear

thought that I was a grizzly bear burrito and I was going to be the Chen

burrito and I was going to be the Chen

burrito and I was going to be the Chen the tender chewy center

the tender chewy center

the tender chewy center I at the age of eighteen tough macho kid

I at the age of eighteen tough macho kid

I at the age of eighteen tough macho kid didn’t sleep for a week I would cry all

didn’t sleep for a week I would cry all

didn’t sleep for a week I would cry all night in terror

night in terror

night in terror I didn’t eat for four days so the

I didn’t eat for four days so the

I didn’t eat for four days so the wilderness of Wyoming had been

wilderness of Wyoming had been

wilderness of Wyoming had been transferred transformed from heaven on

transferred transformed from heaven on

transferred transformed from heaven on earth to hell on earth at night I would

earth to hell on earth at night I would

earth to hell on earth at night I would try and count sheep in order to fall

try and count sheep in order to fall

try and count sheep in order to fall asleep and instead inevitably I would

asleep and instead inevitably I would

asleep and instead inevitably I would find myself counting grizzly bear teeth

find myself counting grizzly bear teeth

find myself counting grizzly bear teeth 42 grizzly bear has 42 teeth so then one

42 grizzly bear has 42 teeth so then one

42 grizzly bear has 42 teeth so then one day I in the middle of the summer

day I in the middle of the summer

day I in the middle of the summer just south of Yellowstone National Park

just south of Yellowstone National Park

just south of Yellowstone National Park we happened upon a 500 pound male

we happened upon a 500 pound male

we happened upon a 500 pound male grizzly bear he was a monster and he was

grizzly bear he was a monster and he was

grizzly bear he was a monster and he was eating the carcass of a deer that had

eating the carcass of a deer that had

eating the carcass of a deer that had probably died in a winter avalanche and

probably died in a winter avalanche and

probably died in a winter avalanche and had only been recently uncovered by

had only been recently uncovered by

had only been recently uncovered by melting snow he had eaten 200 pounds of

melting snow he had eaten 200 pounds of

melting snow he had eaten 200 pounds of meat the equivalent for us of a 60 pound

meat the equivalent for us of a 60 pound

meat the equivalent for us of a 60 pound hamburger in one sitting so we

hamburger in one sitting so we

hamburger in one sitting so we approached him to conduct our medical

approached him to conduct our medical

approached him to conduct our medical tests our adrenaline was pumping we had

tests our adrenaline was pumping we had

tests our adrenaline was pumping we had our guns drawn and he rolled over on his

our guns drawn and he rolled over on his

our guns drawn and he rolled over on his back lazily waved a massive claw in our

back lazily waved a massive claw in our

back lazily waved a massive claw in our direction and went back to sleep we

direction and went back to sleep we

direction and went back to sleep we conducted our tests and left no drama no

conducted our tests and left no drama no

conducted our tests and left no drama no danger no damage so this encounter

danger no damage so this encounter

danger no damage so this encounter entirely changed my opinions I had found

entirely changed my opinions I had found

entirely changed my opinions I had found that many of my assumptions and fears

that many of my assumptions and fears

that many of my assumptions and fears about grizzly bears were wrong and as a

about grizzly bears were wrong and as a

about grizzly bears were wrong and as a result I also gained self confidence I

result I also gained self confidence I

result I also gained self confidence I decided that perhaps I could go to other

decided that perhaps I could go to other

decided that perhaps I could go to other environments that were equally harsh

environments that were equally harsh

environments that were equally harsh with equally nasty predators and perhaps

with equally nasty predators and perhaps

with equally nasty predators and perhaps survive and maybe even thrive so I left

survive and maybe even thrive so I left

survive and maybe even thrive so I left Wyoming and I became an entrepreneur in

Wyoming and I became an entrepreneur in

Wyoming and I became an entrepreneur in Silicon Valley so fast forward 25 years

Silicon Valley so fast forward 25 years

Silicon Valley so fast forward 25 years I was part of a small team in Palo Alto

I was part of a small team in Palo Alto

I was part of a small team in Palo Alto that was making a SmartWatch we were

that was making a SmartWatch we were

that was making a SmartWatch we were taking all of the functionality of a

taking all of the functionality of a

taking all of the functionality of a smartphone and putting it onto a small

smartphone and putting it onto a small

smartphone and putting it onto a small package the office was about three miles

package the office was about three miles

package the office was about three miles from Apple and three miles from Google

from Apple and three miles from Google

from Apple and three miles from Google so we wanted

so we wanted

so we wanted keep this a secret we operated in

keep this a secret we operated in

keep this a secret we operated in stealth mode in the hopes that once we

stealth mode in the hopes that once we

stealth mode in the hopes that once we launched a product we would get a jump

launched a product we would get a jump

launched a product we would get a jump on our competitors including these tech

on our competitors including these tech

on our competitors including these tech behemoths so we could gain some early

behemoths so we could gain some early

behemoths so we could gain some early market share and some profits we were

market share and some profits we were

market share and some profits we were what very well-funded

what very well-funded

what very well-funded we had a partnership with Foxconn which

we had a partnership with Foxconn which

we had a partnership with Foxconn which is the world’s largest manufacturer of

is the world’s largest manufacturer of

is the world’s largest manufacturer of consumer electronics we had a team of

consumer electronics we had a team of

consumer electronics we had a team of motivated Silicon Valley veterans and we

motivated Silicon Valley veterans and we

motivated Silicon Valley veterans and we had a product that was packed with

had a product that was packed with

had a product that was packed with interesting technologies when we

interesting technologies when we

interesting technologies when we launched the product into the market

launched the product into the market

launched the product into the market nobody bought it this was a disaster

nobody bought it this was a disaster

nobody bought it this was a disaster perhaps it had been because we didn’t

perhaps it had been because we didn’t

perhaps it had been because we didn’t talk to customers because we were in in

talk to customers because we were in in

talk to customers because we were in in stealth mode but I didn’t know so I

stealth mode but I didn’t know so I

stealth mode but I didn’t know so I vowed to search for the recipe that

vowed to search for the recipe that

vowed to search for the recipe that would help entrepreneurs create

would help entrepreneurs create

would help entrepreneurs create successful disruptive businesses that

successful disruptive businesses that

successful disruptive businesses that would provoke change in entire

would provoke change in entire

would provoke change in entire industries the first part of this recipe

industries the first part of this recipe

industries the first part of this recipe is 400 years old

is 400 years old

is 400 years old Copernicus and Galileo observed

Copernicus and Galileo observed

Copernicus and Galileo observed celestial movements and they concluded

celestial movements and they concluded

celestial movements and they concluded that conventional wisdom was wrong the

that conventional wisdom was wrong the

that conventional wisdom was wrong the Sun did not move around the earth

Sun did not move around the earth

Sun did not move around the earth instead the earth moves around the Sun

instead the earth moves around the Sun

instead the earth moves around the Sun Galileo said the Scott Truths are easy

Galileo said the Scott Truths are easy

Galileo said the Scott Truths are easy to understand once they’ve been

to understand once they’ve been

to understand once they’ve been discovered the point is to discover them

discovered the point is to discover them

discovered the point is to discover them their legacy to us is the scientific

their legacy to us is the scientific

their legacy to us is the scientific method where we declare assumptions and

method where we declare assumptions and

method where we declare assumptions and then we reconstruct those assumptions

then we reconstruct those assumptions

then we reconstruct those assumptions into falsifiable hypotheses which we

into falsifiable hypotheses which we

into falsifiable hypotheses which we test with direct evidence let me give

test with direct evidence let me give

test with direct evidence let me give you the epilogue for the SmartWatch

you the epilogue for the SmartWatch

you the epilogue for the SmartWatch company we were running low on money

company we were running low on money

company we were running low on money running low on motivation we looked for

running low on motivation we looked for

running low on motivation we looked for buyers for the company we didn’t find

buyers for the company we didn’t find

buyers for the company we didn’t find any we had always assumed that Google

any we had always assumed that Google

any we had always assumed that Google would be indifferent or perhaps even

would be indifferent or perhaps even

would be indifferent or perhaps even antagonistic to our efforts but the CEO

antagonistic to our efforts but the CEO

antagonistic to our efforts but the CEO set up a meeting anyway he sold the

set up a meeting anyway he sold the

set up a meeting anyway he sold the company to Google in 43 minutes he had

company to Google in 43 minutes he had

company to Google in 43 minutes he had had an assumption that he decided to

had an assumption that he decided to

had an assumption that he decided to test

test

test with direct evidence and as a result he

with direct evidence and as a result he

with direct evidence and as a result he dramatically improved the outcome for

dramatically improved the outcome for

dramatically improved the outcome for all of us in order to find further

all of us in order to find further

all of us in order to find further nuances of this recipe for successful

nuances of this recipe for successful

nuances of this recipe for successful entrepreneurship I study business

entrepreneurship I study business

entrepreneurship I study business incubators including the hope prize

incubators including the hope prize

incubators including the hope prize which is a sister organization to the

which is a sister organization to the

which is a sister organization to the Hult International Business School every

Hult International Business School every

Hult International Business School every year thousands of students from hundreds

year thousands of students from hundreds

year thousands of students from hundreds of different schools compete to design

of different schools compete to design

of different schools compete to design new ventures that solve global problems

new ventures that solve global problems

new ventures that solve global problems and if they win they get a million

and if they win they get a million

and if they win they get a million dollars to launch their venture last

dollars to launch their venture last

dollars to launch their venture last year for example the challenge was how

year for example the challenge was how

year for example the challenge was how to design a venture that would bring 10

to design a venture that would bring 10

to design a venture that would bring 10 million people in urban slums out of

million people in urban slums out of

million people in urban slums out of poverty in ten years so here are some

poverty in ten years so here are some

poverty in ten years so here are some empirical results from my studies first

empirical results from my studies first

empirical results from my studies first the entrepreneurs who used the

the entrepreneurs who used the

the entrepreneurs who used the scientific method did 2.6 times better

scientific method did 2.6 times better

scientific method did 2.6 times better than entrepreneurs that relied on

than entrepreneurs that relied on

than entrepreneurs that relied on midnight epiphanies or gut instinct this

midnight epiphanies or gut instinct this

midnight epiphanies or gut instinct this statistic also shows you that there are

statistic also shows you that there are

statistic also shows you that there are lots of entrepreneurs who are still

lots of entrepreneurs who are still

lots of entrepreneurs who are still relying on midnight epiphanies and gut

relying on midnight epiphanies and gut

relying on midnight epiphanies and gut instincts the second finding is that for

instincts the second finding is that for

instincts the second finding is that for every hypothesis that an entrepreneur

every hypothesis that an entrepreneur

every hypothesis that an entrepreneur confirmed with direct evidence as being

confirmed with direct evidence as being

confirmed with direct evidence as being valid their chance of success in the

valid their chance of success in the

valid their chance of success in the competition increased by 3.3 percent for

competition increased by 3.3 percent for

competition increased by 3.3 percent for every hypothesis they confirm success

every hypothesis they confirm success

every hypothesis they confirm success went up by 3.3 percent even more

went up by 3.3 percent even more

went up by 3.3 percent even more interesting though is that for every

interesting though is that for every

interesting though is that for every hypothesis they rejected using direct

hypothesis they rejected using direct

hypothesis they rejected using direct evidence to determine that they via the

evidence to determine that they via the

evidence to determine that they via the assumption was invalid their success

assumption was invalid their success

assumption was invalid their success went up by 4.6 percent what explains

went up by 4.6 percent what explains

went up by 4.6 percent what explains this difference why is rejection so much

this difference why is rejection so much

this difference why is rejection so much more powerful than confirmation so for

more powerful than confirmation so for

more powerful than confirmation so for this we need to move beyond just the

this we need to move beyond just the

this we need to move beyond just the process of the scientific method to

process of the scientific method to

process of the scientific method to start to understand the mind of the

start to understand the mind of the

start to understand the mind of the person conducting the scientific method

person conducting the scientific method

person conducting the scientific method so let me introduce you to angel angel

so let me introduce you to angel angel

so let me introduce you to angel angel was my mule in the backcountry she

was my mule in the backcountry she

was my mule in the backcountry she carried all of my gear

carried all of my gear

carried all of my gear an angel kicked when she was happy she

an angel kicked when she was happy she

an angel kicked when she was happy she kicked when she was sad she kicked in

kicked when she was sad she kicked in

kicked when she was sad she kicked in the morning she kicked at night she

the morning she kicked at night she

the morning she kicked at night she kicked I say hello she kicked I put

kicked I say hello she kicked I put

kicked I say hello she kicked I put stuff on her she’d kick I’d ask her to

stuff on her she’d kick I’d ask her to

stuff on her she’d kick I’d ask her to walk she’d kicked she was incredibly

walk she’d kicked she was incredibly

walk she’d kicked she was incredibly stubborn in fact she was stubborn as a

stubborn in fact she was stubborn as a

stubborn in fact she was stubborn as a mule entrepreneurs are also simile

mule entrepreneurs are also simile

mule entrepreneurs are also simile obstinate and we are prone to

obstinate and we are prone to

obstinate and we are prone to confirmation bias which means that we

confirmation bias which means that we

confirmation bias which means that we subconsciously interpret new evidence as

subconsciously interpret new evidence as

subconsciously interpret new evidence as supporting what we already believe to be

supporting what we already believe to be

supporting what we already believe to be true so it’s possible that entrepreneurs

true so it’s possible that entrepreneurs

true so it’s possible that entrepreneurs who have collected lots of confirmed

who have collected lots of confirmed

who have collected lots of confirmed hypotheses are not actually on their way

hypotheses are not actually on their way

hypotheses are not actually on their way to a perfect venture but instead just

to a perfect venture but instead just

to a perfect venture but instead just demonstrating their bias on the other

demonstrating their bias on the other

demonstrating their bias on the other hand entrepreneurs who have collected

hand entrepreneurs who have collected

hand entrepreneurs who have collected and rejected hypotheses are

and rejected hypotheses are

and rejected hypotheses are demonstrating objectivity that they are

demonstrating objectivity that they are

demonstrating objectivity that they are willing to listen to and follow the data

willing to listen to and follow the data

willing to listen to and follow the data this study of the Hult prize and other

this study of the Hult prize and other

this study of the Hult prize and other incubators has led to also another

incubators has led to also another

incubators has led to also another interesting conclusion around

interesting conclusion around

interesting conclusion around self-confidence entrepreneurs who are

self-confidence entrepreneurs who are

self-confidence entrepreneurs who are already self confident in their ability

already self confident in their ability

already self confident in their ability to eventually find a profitable business

to eventually find a profitable business

to eventually find a profitable business are much more likely to use the

are much more likely to use the

are much more likely to use the scientific method furthermore

scientific method furthermore

scientific method furthermore entrepreneurs whether they started with

entrepreneurs whether they started with

entrepreneurs whether they started with self confidence or not who use the

self confidence or not who use the

self confidence or not who use the scientific method increase their self

scientific method increase their self

scientific method increase their self confidence to use evidence which means

confidence to use evidence which means

confidence to use evidence which means that they’re not only perfecting the

that they’re not only perfecting the

that they’re not only perfecting the business that they’re working on now at

business that they’re working on now at

business that they’re working on now at the time but they’re also perfecting

the time but they’re also perfecting

the time but they’re also perfecting their decisions far into the future this

their decisions far into the future this

their decisions far into the future this echoes my own experience with that

echoes my own experience with that

echoes my own experience with that grizzly-bear

grizzly-bear

grizzly-bear tested some assumptions rejected them

tested some assumptions rejected them

tested some assumptions rejected them and found that I was more self confident

and found that I was more self confident

and found that I was more self confident for future performance Muse Anna is a

for future performance Muse Anna is a

for future performance Muse Anna is a company that illustrates this point

company that illustrates this point

company that illustrates this point these were students who entered the Hult

these were students who entered the Hult

these were students who entered the Hult prize with the desire to create a more

prize with the desire to create a more

prize with the desire to create a more economical food cart for street vendors

economical food cart for street vendors

economical food cart for street vendors starting in Kampala Uganda the founder

starting in Kampala Uganda the founder

starting in Kampala Uganda the founder Natalie told me

Natalie told me

Natalie told me all of our initial assumptions were

all of our initial assumptions were

all of our initial assumptions were wrong now I confess I must bear some

wrong now I confess I must bear some

wrong now I confess I must bear some responsibility for this these were

responsibility for this these were

responsibility for this these were students of mine and some of those wrong

students of mine and some of those wrong

students of mine and some of those wrong assumptions had been my suggestions she

assumptions had been my suggestions she

assumptions had been my suggestions she said it was incredibly painful just when

said it was incredibly painful just when

said it was incredibly painful just when they thought they had found a solution

they thought they had found a solution

they thought they had found a solution that solved a problem and they were

that solved a problem and they were

that solved a problem and they were getting excited about it they they

getting excited about it they they

getting excited about it they they determined that they had to go to into a

determined that they had to go to into a

determined that they had to go to into a different direction they persevered they

different direction they persevered they

different direction they persevered they continued to test and reject assumptions

continued to test and reject assumptions

continued to test and reject assumptions until they found the right ones

until they found the right ones

until they found the right ones lisanna was a finalist in the Hult prize

lisanna was a finalist in the Hult prize

lisanna was a finalist in the Hult prize competition and is now offering

competition and is now offering

competition and is now offering different food cart solutions in several

different food cart solutions in several

different food cart solutions in several different locations in East Africa so

different locations in East Africa so

different locations in East Africa so the search for a successful venture for

the search for a successful venture for

the search for a successful venture for an entrepreneur just like wandering

an entrepreneur just like wandering

an entrepreneur just like wandering through the Wyoming wilderness can be

through the Wyoming wilderness can be

through the Wyoming wilderness can be torturous and terrifying but if we

torturous and terrifying but if we

torturous and terrifying but if we declare our assumptions structure them

declare our assumptions structure them

declare our assumptions structure them as hypotheses collect evidence test our

as hypotheses collect evidence test our

as hypotheses collect evidence test our hypotheses confirm and even better

hypotheses confirm and even better

hypotheses confirm and even better reject our hypotheses we end up with

reject our hypotheses we end up with

reject our hypotheses we end up with better entrepreneurial outcomes that are

better entrepreneurial outcomes that are

better entrepreneurial outcomes that are more likely to capture consumer demand

more likely to capture consumer demand

more likely to capture consumer demand moreover we develop self-confidence we

moreover we develop self-confidence we

moreover we develop self-confidence we become better entrepreneurs for future

become better entrepreneurs for future

become better entrepreneurs for future startups and future decisions so let me

startups and future decisions so let me

startups and future decisions so let me summarize this in a sentence

summarize this in a sentence

summarize this in a sentence entrepreneurs create success and improve

entrepreneurs create success and improve

entrepreneurs create success and improve self-confidence through rejection this

self-confidence through rejection this

self-confidence through rejection this was true for grizzly bear biologists it

was true for grizzly bear biologists it

was true for grizzly bear biologists it was true for high tech entrepreneurs

was true for high tech entrepreneurs

was true for high tech entrepreneurs it’s true for students in the Hult prize

it’s true for students in the Hult prize

it’s true for students in the Hult prize and I contend that it will be true for

and I contend that it will be true for

and I contend that it will be true for you thank you

you thank you

you thank you [Applause]