So why do I talk about the benefits of failure? Simply because failure meant a stripping away of the inessential. I stopped pretending to myself that I was anything other than what I was, and began to direct all my energy into finishing the only work that mattered to me. Had I really succeeded at anything else, I might never have found the determination to succeed in the one arena I believed I truly belonged. I was set free, because my greatest fear had been realised, and I was still alive, and I still had a daughter whom I adored, and I had an old typewriter and a big idea. And so rock bottom became the solid foundation on which I rebuilt my life.
How has a failure, or apparent failure, set you up for later success? Do you have a favourite failure?
Question
What advice would you give your twenty-year-old self, and what should they ignore?
Time & hindsight
Failure is the most likely outcome of entrepreneurship. Hence there is absolutely nothing wrong with failure. It is the default outcome. Success on the other hand is rare and unpredictable. Very few find it. However what can help entrepreneurs succeed is when an ecosystem learns from failure.
Aboyeji's own verified LinkedIn account, Iyinoluwa Aboyeji on LinkedIn, 5 January 2024 source ↗
Others on this question
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J.K. Rowling
Novelist and screenwriter
Adam Peaty
British swimmer; Olympic champion 2016 and 2021
When I lost that 100m final I spiralled. I went quite aggressive. It is an Adam I don't really recognise.
Francis Collins
American physician-scientist
about 95% of the experiments we do are total failures, and that’s because we’re out there on the leading edge of what’s possible, and most of the time it isn’t quite possible.
Recorded
Academy of Achievement, Academy of Achievement interview, Bethesda, Maryland, 1 April 2000
source ↗
Tony Fadell
Engineer and designer; led the iPod and iPhone teams at Apple, founder of Nest Labs
I had such failure for the first ten years in Silicon Valley. General Magic — over a billion dollars invested in 1990 dollars! Could you imagine what that is today? The best team in the world. We were told we were gonna topple Microsoft and all these companies.
More from Iyinoluwa Aboyeji
View profile →Do a deep reflection on what exactly went wrong and write it down. Please don't do that lazy analysis where you just blame government, the economy, the markets, fundraising etc. It might have been a contributing factor and you should reflect that but please do that uncomfortably deep and introspective work of figuring out where *YOU* the founder went wrong.
Recorded
Aboyeji's own verified LinkedIn account, Iyinoluwa Aboyeji on LinkedIn, 27 July 2024
source ↗
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