Getting back on the horse
Have you ever heard the phrase “If you fall off the horse, you have to get back on”? This is almost the unofficial motto for the Innovate Pasadena Epic Failures Competition that occurred recently. It came down to three lucky winners who were recognized for their epic failures that lead to successful ventures. One in particular – GonnaBe- may not have had the best of beginnings (or endings) but opened up the future for his other successful business, Vytmn. Hank Leber, the mind behind GonnaBe, found that failing at first could help you triumph later.
Turning failure around
The point of the Innovate Pasadena Epic Failures Competition was meant to recognize entrepreneurs and companies who had failed miserably but turned those failures into a big achievement. Skild help support the competition by creating the online contest software responsible for judging and choosing the finalists. With the online contest management provided by Skild, GonnaBe sent in a 2-minute video and filled out a brief questionnaire in order to prove why they should be awarded the $5,000 cash prize.
GonnaBe’s whole purpose was to be a social media platform that was similar to Twitter and Facebook – but differed by focusing on the future. Leber noticed how social media failed to prompt us to say what our future plans were in the next hour, day, evening, and so on – so he created GonnaBe to make that happen. Unfortunately, it was extremely expensive to name only one of many issues that caused its ultimate demise.
Learning from your mistakes
But with GonnaBe failing, Leber learned great values. He found that it is important that you, “Do not chase the elephant with a BB gun,” and that you must “Understand that execution is everything, and if you can’t execute with the product you’re making right now, it doesn’t matter what kind of big deals you are going to make – they’re not going to work. You absolutely need to execute on the ground level and build your company from the ground up.”
GonnaBe may have been a failure, but not a complete one. Without it, Leber believes that he wouldn’t have been able to have the success he has now with his new company, Vytmn, without the learning process GonnaBe put him through. Let this be a lesson – to never give up and keep persevering. You never know when your failure is actually the key to your success.