featured in The CEO Magazine
Published date: 1509/2017
Titled: What I learned from failure from ‘The Gambler’
There is always understandable excitement when the daring entrepreneur finally achieves the goal of establishing a start-up business. The journey is filled with tales of hits and near misses, from thinking of a company name to the dreaded discussion about finance.
And the business plan that kept growing, with more details added daily, until it was officially blessed, be it with a few unspoken gaps. However, there is little mention of the risk of failure. The term risk is used in polite company rather than the word that truly captures what entrepreneurs do: gamble.
They pit their skills and drive against the high odds of failure. If they win, they are successful. If not, they must manage failure in its various forms.
Most entrepreneurs know failure. I have found the chorus of Kenny Rogers’ song ‘The Gambler’ summarises my experience with failure in its various forms.
The introductory line is a fair warning to all entrepreneurs.