Saturday, January 27, 2007

Yahoo Entrepreneur teaches a lesson

This entrepreneur of the week feature on Yahoo Finance is pretty cool because it gives a quick storyline of how someone took an idea all the way into a successful company.

One of the most useful/encouraging things about the feature is that every one I've read, no exceptions, goes like this:

- Person has passion for X, causing them to get really into it (X)
- Person decides to expand their passion for X by helping other people
- It balloons thanks to great demand and turns into a growing, actual business
- Person makes a crucial decision that ends up costing him/her big time, and the company plummets, almost dying out completely
- Person mortgages their home, raids savings, goes into debt, and so on to keep the business afloat, the problem is overcome, and now the business is a huge success

With slight variations, this is the way all these stories go. Probably by design, but the point is well taken: There comes a time where things will fall apart and you don't think you'll be able to go on. The people that succeed and truly believe and have that quality to succeed - they keep going and break through that wall.

Lesson: we will all face adversity, all of us. What are you going to do when you run into it?


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