Tales from the Corporate Frontlines Try, Try, Again
The corporate world is full of ups and downs. One day, everything might be going as planned, and the next, everything might fall apart. In such a dynamic environment, it takes a great deal of resilience and determination to keep moving forward. This is where the phrase ‘try, try again’ comes in handy. It's all about persisting through failure and setbacks to achieve success.
Here are a few tales from the corporate frontlines that demonstrate the power of persistence:
The Story of Colonel Sanders
Colonel Harland Sanders, the founder of Kentucky Fried Chicken (KFC), is one of the most famous examples of persisting through failure. Sanders had a tumultuous career and had failed multiple times before he became a household name. In his twenties, he worked several odd jobs before buying a gas station in Kentucky. He later converted it into a cafe, which he ran himself.
Sanders' cafe was a huge hit, and he spent several years perfecting his secret recipe for fried chicken. However, when the interstate highway was built, it bypassed his cafe, and Sanders was forced to close it down. Unfazed, he took his recipe on the road, trying to sell it to other restaurants. He faced countless rejections but kept trying.
Finally, in 1955, a restaurant in Salt Lake City agreed to serve Sanders' chicken. It was an instant hit, and other restaurants soon followed suit. By 1964, there were over 600 KFC outlets across America. Colonel Sanders was 74 years old when he sold the franchise and became a multimillionaire. He is a shining example of what persistence and hard work can achieve.
From Zero to Hero
A young entrepreneur in Australia, named Ruslan Kogan, didn't let the lack of funds or experience hold him back. In 2006, he had the idea of selling electronics online. He started with a loan of just $25,000 from his parents and launched Kogan.com. He began by importing cheap televisions from China, branding them with the Kogan name, and selling them online at a lower cost than his competitors.
However, Ruslan faced a lot of skepticism and negativity from retailers and suppliers. They warned him that nobody would buy cheap electronics online, and he would never be able to compete with established brands. Undeterred, he kept refining his business model, introduced a wider range of products, and focused on providing excellent customer service.
Ruslan's persistence slowly paid off, and Kogan.com grew into an established brand. By 2010, it was a household name in Australia and had expanded into New Zealand and the UK. Today, Kogan.com is a multibillion-dollar business, and Ruslan Kogan is one of Australia's wealthiest young entrepreneurs.
The Power of Resilience
Another tale from the corporate frontlines is that of Alan Sugar, founder of Amstrad, a UK-based electronics company. In 1968, Alan Sugar started trading electronics goods from a van he bought for £50, selling his wares to high street retailers. In 1980, he founded Amstrad and became known for his affordable home computers and other electronics.
However, in the late 1980s, Amstrad faced a crisis. The company's profits plummeted, and it faced stiff competition from rivals such as IBM and Apple. Alan Sugar faced criticism from shareholders and the media, and some wrote off the company's future. But he remained determined not to let Amstrad fail.
Instead, Alan Sugar focused on innovation, redesigning his computers and improving the company's product line. He also diversified Amstrad's business and launched new products such as satellite dishes and set-top boxes. Eventually, his persistence paid off, and Amstrad rebounded from its crisis. The company was later sold to BSkyB for £125 million in 2007, making Alan Sugar a very wealthy man.
Conclusion
In the constantly evolving corporate world, success is never guaranteed. There will always be challenges and setbacks, but the key is to keep going and not give up. These tales from the corporate frontlines prove that persistence and resilience are essential traits for success. These entrepreneurs didn't let failure or criticism stop them from pursuing their dreams. Instead, they kept trying until they achieved success. They show that the phrase ‘try, try again’ is not just a cliché but a powerful mindset that can lead to great achievements.