More on Being a Failure

I’ve written about the need to fail before, and Shoemoney did recently as well.  Along those lines, I loved this quote from Chris Larsen, Founder of E-Loan.com and Prosper.com.

“Cut the lifeboats.” I heard this from Jim Collins, who wrote “Built to Last” and was the best M.B.A. professor I had at Stanford. He pleaded with the class, saying, “You’re young. You can fail two or three times, even lose all your money two or three times, and you’ll be just fine. Taking that risk puts you in the path of wealth.”

If he hadn’t said that, I probably would have taken a job, like a typical M.B.A., instead of founding a company. Starting my own business seemed so risky, but maxing out credit cards or even going bankrupt isn’t so risky if you do it at a young age. You’ll never regret taking those risks, but you might regret it if you don’t.

Comments


  • gagan

    May 8, 2009
    at 2:43 pm

    Great article . I remember a Einstien Quote that ” if you fail 1000 times then you should be happy because you have discovered 1000 ways that won’t work”

    So Ready to take risks because No risk means Mo Gain


     

  • Shane

    May 8, 2009
    at 2:51 pm

    I love that quote. It was actually Thomas Edison, though, and apparently more than once.

    After his seven-hundredth unsuccessful attempt to invent electric light, he was asked by a New York Times reporter, “How does it feel to have failed seven hundred times?”

    His response was, “I have not failed 700 times. I have not failed once. I have succeeded in proving that those 700 ways will not work.”