Elizabeth Yin: You Can’t Have Success Without Failure

July 16, 2013

3:00 pm

Despite having very limited funds and facing seemingly impossible odds, Charlie Bucket took a risk. Not only did this lead to his eventually finding a golden ticket into Willy Wonka’s factory, but on the most rudimentary level, taking that initial risk gave him 1) the opportunity to actually participate and 2) the opportunity to consider new options or directions in his life.

Elizabeth Yin knows about risk, and knows the negative and positive payoffs of taking risks. Yin is the CEO and cofounder of LaunchBit, an ad network for email, that make it easier for advertisers to reach their target demographic through niche email newsletters. Although LaunchBit has found a healthy spot in the marketplace, it wouldn’t be in this position today if Yin had never learned to take certain risks in her life.

Yin has learned that failure and success are deeply connected: you can’t have one without the other. Despite having failed at her first venture, Parrotview, taking the risk to launch that initial business gave Yin the opportunity to learn from that experience and opened up a path and opportunity for starting LaunchBit. Failure leads to success just as much as success can lead to failure, but regardless of the outcome, people (and entrepreneurs, especially) can learn a lot from their actions. Simply doing more stuff can give them the opportunity to seek out a new direction or approach to things.

Yin lets us in on how her various failures eventually led to successes – check out the video.

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Ronald Barba was the previous managing editor of Tech.Co. His primary story interests include industry trends, consumer-facing apps/products, the startup lifestyle, business ethics, diversity in tech, and what-is-this-bullsh*t things. Aside from writing about startups and entrepreneurship, Ronald is interested in 'Doctor Who', Murakami, 'The Mindy Project', and fried chicken. He is currently based in New York because he mistakenly studied philosophy in college and is now a "writer". Tweet @RonaldPBarba.

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