July 16, 2013
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.
Did you like this article?
Get more delivered to your inbox just like it!