Blog

The Power of Failure and Frustration

I remember the very first venture I ever embarked on just like it was yesterday! As a first-year student in University, this sense of entrepreneurship was driven by nothing else other than failure and frustration. The first thing was the frustration that came with not being able to secure a part-time job which would have helped to support me during my studies. Secondly, the frustration of seeing an antique seller who could not see his full potential. How could he not? I couldn’t understand how he had a good product but yet, he was not doing too well!

A long story short every day on my walk home from university, I would see this store that had amazing second-hand items for home decor, Jewellery, etc. the only problem is that nobody ever went in, everyone just window shopped and passed by. The prices were a bargain and although it was messy inside and the products were all over the place I always managed to find gems, gems that people would always want to buy from me but that just meant the opportunity cost was spending more time in the store looking for them.
One day, I finally approached the store owner who was fond of me by then, I asked him if I could collect his best items and host a popup event which would be more hip, and even host a Dj at another location and mark up the items whereby he makes money and I make money. This was clearly a win-win situation.

Of course he said NO and reiterated that if I wanted I should buy the stock in cash and go sell or give it to all my girlfriends, being persistent we managed to negotiate that I leave a deposit and once I sold the items I would pay the value and get my deposit back. This was the birth of Mimosa, 10 years later from a brand that hosted pop up events for second-hand items to a brand that now is plastered on a fin-tech products and several other products. All this wouldn’t have happened without the process of FAILURE and FRUSTRATION!

Failure shouldn’t define you, it’s a moment like any moment and you can’t avoid it. What you ought to master is how to flip the failure into a win. It is a journey of which many entrepreneurs are well aware of, I say look forward to the pain and frustration. As a matter of fact sometimes we should go out looking for it. You will be surprised at how it grooms you for your purpose in business and shapes your journey towards success. The edge you will have in doing business will be phenomenal and it will drive you. The amazing thing about failing is that you learn more than you can ever do when succeeding!

Mike Raymond
Muanzilishi,  Mimosa Concierge

 

Leave a Reply

Your email address will not be published.