Last Updated on Mar 6, 2020 by James W
Why do some people in spite of working like a dog and not taking a lot of breaks, are not able to meet with success? On the other hand, don’t we keep hearing about someone having success come seeking him out? What exactly is going on? To know the answer to these questions, let us go hear what some exceptionally successful entrepreneurs had to say at the third Chicago Ideas Week. These worthy gentlemen explained how their company was created, how they had to overcome many obstacles along the road to success and how they kept learning and are still doing it from the experiences they had.
Don’t Give up
The old wisdom has it right: Failure is only a stepping stone to success. Not for you to sit still and stare at the infinity of your troubles; instead, start excogitating on how what you carefully chalked out had turned into a damp squib and ended in a fiasco. CEO of Groupon, Eric Lefkofsky narrated several instances of his failures and how he almost became bankrupt. He was not one to lose heart; he started InnerWorkings which was a success. The print procurement company did not attain success from the word Go but his hard work made it possible.
Coffee and other Drinks
A search for a good cup of tea led Yale School of Management professor to unexpected quarters. He discovered that there was no dearth of beverages in the market and realized that each of these lacked substance some or other way. Water was too ordinary, soda was actually candy in liquid form and diet drinks, contrary to common belief, were dangerous. He did an analysis and came up with the theory that the best products cannot be sweet beyond a point; should contain less calories and the manufacturer should not be burdened with too much cost of production. He collaborated with Seth Goldman, his former student and created Honest Tea. This was in 1998. In 2001, Coca-Cola was interested enough in the product to buy it off Mr. Nalebuff.
Don’t let go of Opportunities
Still on Nalebuff, just after the launch of his tea, he chanced upon Oprah Winfrey in a yoga retreat. He had made it a habit to carry samples of his tea wherever he went. He offered his tea to the famous celebrity. She obviously liked it for, she chose to feature the tea in her magazine.
Nalebuff says that since you never know when the opportunities would strike, you had better be prepared.
Passion to Build
Success does not have only one path leading to it; if that had been the case, everyone would take that road and strike gold. While there are any number of ways to succeed, wisdom lies in choosing the method that is right for you. Detroit Venture Partners funds new ventures and engages itself in revitalizing efforts. The founder of the company, Dan Gilbert says that most entrepreneurs like to build and the passion to build is what drives them.
Naomi Stillinger has been a module curator with the Righttrack Training Consultants. He believes to succeed one must be focussed on what he wants eventually, and not suddenly. He also blogs about guest blogging services and content marketing solutions.