Numbers VS Real Lives
Could the secret to successful entrepreneurs actually be the art of failing?
What does success really mean?
Often, success is equated with happiness and/or wealth. But what if it's simply about living, trying, enjoying, failing, learning, and doing better? Living.
What's your perspective on success in the world of entrepreneurship and business? Take 30 seconds to think about it.
Let's explore how a successful life can be a series of challenges interspersed with breaks.
I've had a few epiphanies that led me to discuss this topic now. I'm not sure why, but what matters is what I experienced while writing it and what you'll take away from it.
Here's my second letter.
With Love From G #2
INDEX
1 - Data, data. Numbers, numbers. It's become the dominant topic of conversation.
2 - The Billion Dollar Code
3 - My Life Be Like “Ooh Ahh”
4 - What to remember
RECOMMANDATIONS
I like to share. That's why this letter and all the following ones will include various recommendations (books, movies, recipes, etc.)
Retreat > Pivot > Luck.
1 - Data, data. Numbers, numbers. It’s become the dominant topic of conversation..
In the United States, often seen as the epitome of entrepreneurship and success stories, nearly 90% of companies shut down within five years of their inception, while in France, only half cease operations at this milestone. These statistics highlight both economic and social realities. To me, they underscore that failure might indeed be the most effective springboard to success. Paradoxical? Perhaps, but undeniably true.
Entrepreneurship is a perilous journey with a known starting point, an uncertain destination, and unpredictable challenges. This unpredictability makes the journey fascinating. The question arises: why does society valorize perseverance? Why is maintaining an average, unstable, or even personally damaging business seen as a sign of talent or success? I've previously discussed resilience. Could this be the ultimate entrepreneurial skill—the ability to acknowledge mistakes and take necessary actions, even if it means stopping a project and stepping back? The concept of "withdrawal" is rarely discussed in the startup ecosystem, yet the statistics suggest it should be.
In my view, EBITDA or Cash Out are not true success indicators. The hero's quest and their response to challenges reveal much more. Each number conceals many truths not immediately apparent.
This one-sided perspective leads us to share only the positives. But why? For social status? It's nonsensical to focus solely on social standing, material, or financial possessions.
It results in a dichotomy of wealth chasing and isolation.
How many entrepreneurs suffer from burnout without realizing it? The French reluctance to withdraw at the first sign of serious trouble is notable. Maybe it's our historical role as would-be saviors that prevents us from letting go. In contrast, Americans make decisive choices and easily abandon projects to start new ones, though they're not spared difficult times; they simply bounce back and thrive faster.
These are stories worth telling. Let me share them with you.
2 - The Billion Dollar Code
(Great mini-série!)
In the remarkable series "The Billion Dollar Code," novice entrepreneurs create a revolutionary computer code. Unfortunately, their journey with the project doesn't end as they hoped. Despite adversity, they develop an application that respects individuals. In a world where technical progress is often seen as the ultimate goal, despite introducing concerning practices that infringe on freedom, these entrepreneurial heroes manage to offer a tool that is both useful and technically advanced. Personally, I give them more credit than a company that profits by leveraging already acquired assets. It's commonplace, unfair from an equal opportunity standpoint, and one wonders if the ultimate goal of such endeavors is truly to assist others or merely to enrich oneself.
Anyway, everyone is entitled to their own value system and view of reality. I have mine as well.
3 - My Life Be Like “Ooh Ahh”
I'm proud of my journey as an entrepreneur. Yet, I haven't cashed out or generated millions in revenue. Does my worth and expertise only amount to that? There are so many aspects of my story to consider that I wouldn't know where to begin explaining.
What's certain is that over the last 18 months, I've spent a considerable amount of time revisiting my journey and analyzing every step taken. Why did I act this way? What influenced my decisions? What were the causes and consequences of my actions? Were there other options? What should I have done?
One thing is clear: I've made mistakes, some of which led to a point of no return. My cousin Groover, co-founder at Hip Hop Community, told me at the start of our venture, "What matters isn't the number of right decisions you make, but the number of wrong ones you avoid."
The worst decision I made was to tackle all my life projects at once. Starting a 360° independent label while launching a book, creating a festival, starting a music tech startup specializing in consulting and project engineering for Hip Hop, all while preparing for the arrival of a second child. Who does that, honestly? Moreover, I didn't know when to give up my first company when necessary, due to attachment to the project and all the people involved (collaborators, partners, artists, clients, board of directors, providers, etc.). Snowball effect, the adventure ended poorly.
I should have paused the project, even stopped it, and prioritized the most profitable and simplest activity.
However, the best decision ever made: I stepped back, a bit late, but still. I took the time to analyze, rebuild, and educate myself. And I'm setting off again, better and more prepared than I've ever been.
To Be Continued.
4 - What to remember
Together, we've delved into why business failure statistics don't reveal the whole truth.
Behind each number lies a story, a team, and, most importantly, a valuable learning opportunity. True successes are often shaped in the flames of failure. Let's not fear failure; instead, learn to understand and use it as a lever towards success.
This notion is increasingly discussed, but have we truly integrated it into our minds, processes, and lives?
In summary, the secret to entrepreneurial success closely aligns with the points I discussed in my first letter. It lies in discipline, resilience, and the importance of communication. Integrating these elements will better equip you to make informed decisions, including knowing when to strategically withdraw.
What if we viewed bankruptcy, failure, and mistakes as strategic withdrawals to learn better?
Hall of Fame :
#1 Dierdre Dubois, an artist-entrepreneur, artist, writer, and composer, offers music that goes against the current trends, blending Jazz-Hop with a feminine twist, which is quite cool. As the producer of her own project, she takes time to learn, improve, establish her structure, and professionalize her production processes. Celebrate with us!
#2 Argotier, stands out for its authentic values and addressing real needs. With their expertise, energy, and talkative beverages, including high-end ready-to-drink cocktails, they enhance the beverage offerings for professionals in the hospitality and events industry. They're rapidly becoming a reference in their field. Celebrate with us!
#3 Raphaël Favero Longo, having produced, developed, and directed numerous projects in events and audiovisuals, has created two guest houses focused on well-being and spirituality. The second is currently under renovation and seeking partners for development. Celebrate with us!
Quote of the day: :
Hard Core like admitting his mistakes.
Kery James (French rapper)
—
Book Recommendation :
Katrin Novagrantz, The Blue Sweater: Bridging the Gap Between Rich and Poor in an Interconnected World.
This book changed my perspective on what Impact Business could be. It's a must-read if you want to start leaving a positive imprint on the world through entrepreneurship.
—
Entertainment x Learning Recommendation:
In the 90s in Berlin, two friends developed Terra Vision, a precursor to Google Earth, and 25 years later, they find themselves in court against a multinational corporation. Inspired by a true story.
Musical Recommendation:
Grits - Ooh Ahh (My Life Be Like)
My recipe recommendation #2: The Queen of Leek Pies:
A recipe from my mother, enhanced by G.
In cooking, as in life, it's useful to reinvent the wheel, especially if you want to score points.
This time, it's about a simple pie, best enjoyed from September to March with real leeks (You know what I mean!). It's based on my mother's recipe, which I've modified so much that I can no longer replicate hers.
Give it a try if you have some time, 30 real minutes max, if you're really slow.
Here's the roadmap.
Steps:
Wash, peel, and cut a bunch of leeks, two onions, and two garlic cloves. Keep the peels and clean heads to put in the water of another dish if needed, to give your dishes a healthy vegetable broth flavor.
Sauté the onions well, add the crushed and chopped garlic, then the leeks.
Season with salt, pepper, curry, nutmeg, and let cook gently for 5-10 minutes before blending everything and setting it aside at room temperature.
Preheat the oven to 200°C.
Make a shortcrust pastry with flour, salt, olive oil, and elbow grease. Check a recipe on the net that doesn't need to rest and enjoy directly. For the dough, I recommend 70% wheat flour and 30% chickpea flour. Roll it out and place it in a pie dish.
Make a pie filling with two eggs, 40-50cl of crème fraîche, and grated cheese, and add the leeks before blending everything.
Pour the mixture into the pie dish.
Bake for about 30 minutes.
And TADA! Enjoy.
If you talk about my activity to a friend who needs support in developing their projects, I will talk about your respective news in the hall of fame.
Join us if you enjoyed this letter. You can put hearts, comment, forward.
I will be more than happy to read you in return; or even better to talk with you. If you feel like it, thank you for taking the time to respond to me or to arrange a time to chat via the link shared at the end of this email.
Thanks for reading With Love From G!