Saturday, February 28, 2009

Succeed to Fail : Fail to succeed

As a person one who believes that one has to stay in the game to win, it was interesting to get exposed to a few different perspectives on how one could be on course to winning -by failing!!
Last evening I attended the monthly meeting of the Hyderabad chapter of TiE, where the speaker Krishna Natarajan, a co-founder of an erstwhile start up OrderMonger -spoke about the lessons learnt after closing a start-up! It was an unique experience -as one usually is exposed to the success stories-listening to some one who was very courageous to stand up and recount the sequence of events from the germination of the idea-to the closure of the organisation. The Q&A session-moderated by Sateesh Andra, was very enlightening-as the audience kept probing the nuts and bolts of the business-as well as the alternatives.
Interestingly, there was an article "Failing Right-knowing when to let go" in the ET yesterday too-pointing out research that failed entrepreneurs have a better chance of succeeding in their second effort than first time ones!
In the present market scenario-I keep bumping into professionals- who have been laid off-or whose talents are being underutilised! And increasingly, a lot of them are open to joining firms that stretch their adrenalin.
It is also amazing how many SME firms are just stuttering-due to the liquidity crunch, and simply do not have the bandwidth to stay in the game!! Ironically, most promoters are running to raise funds-that they take their eyes off the operations-which further plunges them down.
Am sure there are a lot of people-who also would love to get a higher return than the 'safe' banking norms.
Not to mention a generation of freshers-engineers and MBAs -and other graduates-who are waiting for get opportunities to get into the work force.
Something tells me it is the right ecosystem for unleashing the potential of entrepreneurism !! As
of now, there seems to be a severe loss of confidence in the businesses -with most people waiting and watching!!
But to win, one has to play, right??
One is reminded of the classic Keynesian problem (of production cuts due to lower demand which in turn was caused by lower salaries that curtails reduced spending.) When this disastrous cycle begins Keynes mentioned that the only solution to this problem was the government to invest in infrastructure even if it means hiring people to “dig holes and fill them”.
Imagine if we get into a game willing to fail. Well, if you fail, you win. And if you fail to fail, you win too ?? Anyone game? Isn't failure the stepping stone to success??

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