Here is a recap for the SCALE UP #august2023 edition.
In case you haven’t noticed, this month’s theme is all about #failure. But it's not just about failure itself; it's what happens before and after. It's about how you should prepare for failure and how you can leverage it as an opportunity to move forward. Andy Waroma MSID managed to use the lessons he learned from his initial startup attempt's failures to refine his process and strategy, eventually leading to the creation of Cloud Comrade. Vanessa Lu (she/her) advises us to take that initial step, to approach new things with a mindset that embraces failure right from the beginning. Remember, failure itself isn't scary; what's truly scary is prolonging the admission process and continuously deceiving yourself. The key is to get back on your feet quickly when you stumble. Failing fast and learning swiftly are the cornerstones of navigating failure successfully. And lastly, we have Cassandra Ong, who turned her own layoff into a stepping stone, embarking on an exciting adventure by launching her own marketing consultancy. Remember, 𝐟𝐚𝐢𝐥𝐮𝐫𝐞 𝐢𝐬 𝐨𝐧𝐥𝐲 𝐚 𝐫𝐨𝐚𝐝𝐛𝐥𝐨𝐜𝐤 𝐢𝐟 𝐲𝐨𝐮 𝐜𝐡𝐨𝐨𝐬𝐞 𝐭𝐨 𝐬𝐞𝐞 𝐢𝐭 𝐭𝐡𝐚𝐭 𝐰𝐚𝐲.
Elon Musk said, “I also fear failure everyday, but I try to calculate my percentage of success super early on. Once you start accepting the probabilities, it diminishes the fear. When I started SpaceX, I thought the success rate was only less than 10%, and I just accepted that fact and moved forward."
When it comes to the #scaling lessons. This month’s common theme is long-term thinking. Andy Waroma MSID mentioned his biggest regret is not exiting wrong hires quick enough. Due to various reasons, such as the prolonged hiring process and the resources already invested in training, making that crucial decision early on became difficult. The truth is recruiting is never a one-time off effort. And quality of hire will always be the no.1 priority to any hiring manager. Taking that long-term perspective and never underestimate the value of culture fit, will benefit a company’s long-term talent strategies. Vanessa Lu (she/her) highlighted the impact of good intentions not always translating into favorable outcomes if we don't adopt a long-term perspective when designing projects.
Big shoutout to this month’s special guest Cassandra Ong and be sure to check out her awesome new marketing agency OtterHalf! Also, thank you so much for the podcast's overwhelming support; it has now crossed the 1000-download mark 🎊 . Keep subscribing, because next month, I'll take you back to the venture side, sharing stories from the Bay Area and founders who are building million-dollar startups, along with their invaluable scaling lessons.
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