Jones: Failure ‘Is Worth It’
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowEleven Fifty founder and serial entrepreneur Scott Jones says failure in business is important because it can help innovators “find the winners.” He joined other Indiana business leaders in last week's “Fail Fest,” organized by Launch Fishers. Jones says, throughout his career, he has raised more than $200 million in capital, which has turned into about $5 billion for stakeholders. But, he adds $100 million of that capital was lost on failures. Jones cites a multi-year effort called Indy Robot Racing that ultimately resulted in the creation of a business that produces robotic lawn mowers. Jones and Launch Fishers Founder John Wechsler discussed Fail Fest on this weekend's edition of Inside INdiana Business Television. Editor's Note: Scott Jones is chairman of Grow INdiana Media Ventures LLC, the parent of Inside INdiana Business.
Jones says he hopes Fail Fest can become a regular event.
Speakers at last week's event included:
David Becker – First Internet Bank
Michael Cloran – DeveloperTown
Eric Doden – Indiana Economic Development Corporation
Gerry Hayes -Slane Capitol
Scott Hill – PERQ
Scott Jones – Eleven Fifty
Mike Langellier – TechPoint
Andy Medley – PERQ
Clay Robinson – Sun King Brewing Company
Neal Rothermel -VMS BioMarketing
Jacob Schpok – Office of Small Business and Entrepreneurship
Peter Shubert, Pd.D., P.E. – IUPUI School of Engineering and Technology
Shawn Schwegman – Gusto
Indiana Lt. Governor Sue Ellspermann
Sources: Launch Fishers, Inside INdiana Business