Failure is Opportunity

Life as an entrepreneur is not as glamorous as many might perceive it to be. For one to be an entrepreneur, there needs to be a certain level of failure one can withstand. Entrepreneurship is all about the failure, the risk, the chance of pouring your soul into something, only for it to fall apart. There’s a reason why entrepreneurs become so successful – they see failure as opportunity.

Take a look at any of the big entrepreneurs of today. Looking at Mark Zuckerberg and Bill Gates, they all had something in common: both encountered an incredible amount of negativity and obstacles along their path to success. They had to work through tough times and recover from incredible losses. Mark Zuckerberg, as portrayed in the film “The Social Network”, ends up being sued by his three founding partners. From those troubles, Zuckerberg emerged positive, and pushed through the tribulations. Now, not only is Facebook one of the most popular websites on the face of this planet, but Mark has joined a movement called Internet.org – an initiative to bring technology and the internet to people around the world. Out of his failure in losing all the founding partners from Facebook, spending countless hours working out the settlements, and most likely to the point of emotional duress, he came out strong.

Bill Gates is another icon not many know to have failed. When Bill first started out with Microsoft, Apple was already making much more progress than he. But Apple valued the technology Bill was developing, so much so that Steve Jobs hired him to work alongside Apple. But when Steve found Apple at a point of superiority, Bill was seen as expendable. So Steve Jobs called up Bill Gates in the middle of a keynote and subsequently fired him. Imagine being fired in front of an audience full of peers whom respected you? I’d feel absolutely horrible.

Nonetheless, Bill Gates rose from his failure and seized the opportunity to show the world what he was truly made of – which, if you looked him up today is approximately $81 billion, far more than Steve Jobs ever had. Not to mention that Bill has given over $24 billion of his own money to fight malaria and other predicaments over in Africa.

The point of all this is that from failure, you can always find opportunity. One can always find a way to rise, rebuild and recover.


I hope you enjoyed this insightful post regarding my entrepreneurial philosophy. If you enjoyed it, consider subscribing to my mailing list – I send out just one email per week (usually Friday mornings) and it contains a bountiful amount of valuable content I don’t normally share with non-subscribers.

I wish you the best in all of your ventures.

zb

What is Intrapreneurship?

Don’t worry, not introvert-entrepreneurship, innovative-entrepreneurship — the idea of an entrepreneur that has the ability to raise money, maximize existing institutional resources, and take risks which increase social and financial return on investment for large companies, institutions, and nonprofits. As I have begun to read into this, it’s quite the interesting area of work, as FastCoexist.com puts it:

Dubbed “intrapreneurship” by early adopters, this trend highlights the value of people–the “intrapreneurs”–working from within a company who are accelerating change while continuing to drive business benefits. Economic constraints are forcing even large, established companies to act in a manner akin to the startup phase of much younger organizations; they’re leveraging the creativity and passion of their people to become more dynamic, more innovative, and more agile.

(FastCoexist.com, 2013)

Basically, an intrapreneur is someone who constantly thinks of ways to increase efficiency in his or her field of work. In my opinion, this is an occupation best suited for those who absolutely love where they work but want to break out of the box a little bit as well — you’re still considered an entrepreneur! Even though the context will suggest otherwise.

For me, having dealt with horrendously inefficient companies in the past, this is a growing need in the business world. Consider this article a creative partnership between myself and FastCoexist.com, where they talk about Hilton Worldwide:

At Hilton Worldwide, this is the model we strive for, and some of our leading accomplishments, such as LightStay (which calculates our hotels’ impact), were developed as a result of this mentality. Intrapreneurs across the company identified the opportunity to create a new product to track the sustainability footprint of our properties. This tool was rolled out across the enterprise and has not only resulted in reduced energy, water use, waste, and carbon outputs, but also it has generated over $147 million in cost savings. Simultaneously, we have seen new sales within our hotels as properties meeting LightStay standards qualify to be featured on sustainable hotel lists, attracting guests specifically seeking this niche offering.

Just seeing those numbers, $147,000,000, makes me imagine how valuable this type of entrepreneur is to not just the top-tier Fortune 500 company, but other companies in the same boat of inefficiency as well. As long as you’re not using cardboard for dry-wall, you’re innovating correctly!

If you feel torn between your job (which I doubt) and being an independent entrepreneur, this might just be the middle-ground for you. Although, since there is no official Intrapreneur Certification and given that you will most likely need experience in entrepreneurial activities before you begin making these big decisions for companies, you might as well figure out your short-term goals and get those out of the way first.

Cheers!

zb

Past Few Days

So it’s been about 6 days since my last post on here. My apologies. I’ve been writing down all of my ideas, just haven’t gotten the chance to type them up. There’s been a lot of commotion over here, as I’m currently working with a startup advisory publication (think online startup magazine) and we’re getting ready to launch soon so you can imagine the stress from that. I’ve also been busy writing a whitepaper on social media marketing. I put up a preview image on Twitter, so I suppose I’ll do the same here:

smm
 

I’ll be releasing the whitepaper to my subscribers on the January 24th mailing. I’m doing my best to spread out the emails I send to everyone – flooding your inbox is the last thing I’d want to do. So what else is new?

Oh that’s right! I’ve hit 400 email subscribers as of yesterday. I’m really glad with the direction this blog has taken and the audience that I have built. Twitter still hovers around 300 followers, and site traffic is growing with about 10 new unique users each day. Small numbers, yes, but these numbers are pure, organic and important to me. I’ve run sites in the past where huge marketing campaigns have brought in over 12,000 unique visitors within 48 hours, but the users were generally one-stop viewers.

All of you who read my blog on a frequent basis, I appreciate you. You keep me doing what I’m doing and give me the ability to provide you with excellent content.

Thank you.

zb