Upside of Failure

The Sunday New York Times magazine had a thought-provoking article on whether schools should focus on building 'character' and not just academic competence.  I generally applaud the sentiment, though I also believe that kids get much of their character guidance from parents and the community, with the school supporting and emphasizing it.

The article is titled 'What if the Secret to Success is Failure?' and goes on to cover all the character-building benefits of failing at something which then leads to future success.  Again, yes, I do support the concept as I believe it builds resilience, which is a big factor in successfully navigating this fast-changing world.  (I also believe students should be taught compassion, but that's a different story.)  What made this article particularly appealing to me is how much of this approach resonates with successful entrepreneurship.

"True: learning is fun, exhilarating and gratifying.... — but it is also often daunting, exhausting and sometimes discouraging."  Just like entrepreneurship!  "People who accomplished great things.... often combined a passion for a single mission with an unswerving dedication to achieve that mission, whatever the obstacles and however long it might take."  That is the defining characteristic of an entrepreneur.  The concern about children from affluent families having so much done for them that they're unable to deal with setbacks is somewhat like an over-funded startup failing because it never had the pressure of limited resources making it focus on what was really important.  And of course, the idea that failed experiments and uncertainty contribute to the development of grit and ultimate success is one of the reasons that, in Silicon Valley at least, a two-time entrepreneur is respected, even if the first time was a bust.

There is more, for example, 'social intelligence' and 'optimism' are super helpful for entrepreneurs too.  Read the article here - it'll make you wonder if teaching entrepreneurship will do more than just help build the economy.

Once an entrepreneur...

We've heard of serial entrepreneurs who keep founding one company after another.  It's in their DNA, they can't think of doing anything else and they are, mostly, successful at it, so it's all good.

Today's MercNews had a story on a tech entrepreneur who's starting a new company - get this - more than 40 years after the first one.  It is Sandra Kurtzig coming out of decade-long retirement to launch a new venture.

The story itself focuses on the dearth of women CEOs in tech even though Sandra was a pioneer so many decades ago.  And that is a point worth considering and addressing, and maybe I'll add my take on it another time.  But, what grabbed me is that Sandra, apparently living the good life in Hawai'i, had an idea and was ready and willing to give it up to take on the startup challenge again.  Of course, doing a startup is a lot easier for Sandra than for most of us - she's launching with over $10 million in funding from top VCs, light years away from my bootstrapping stories.  Still, the funding doesn't take away from her drive and enthusiasm to take on a brand new venture.  Somehow the entrepreneurial calling didn't fade away regardless of lifestyle or age (maybe there's something to this story that more than 30% of online entrepreneurs are over 50).

It is exciting to see a pioneering entrepreneur come back after so long to lead a new startup and it will be fascinating to see how she steers her company in a world that has changed so much since the last time she was at the helm.  Go Sandra!