Taking a risk is a basic and the best thing for start-up companies?

    Let's suppose that you are a ‘clever’ investor and I, Neil Blumenthal, am a leader of a group that wants to build a start-up company.
    Thankfully, you gave me a chance to persuade you. So today, clear Tuesday morning, I and my friend are here in front of you. Except Jeff and Andy who are still graduate students. They already sent word we have big exam in the whole day, so we cannot be there. As soon as I pass their word to you, I see your jaw drop. Quickly, I give a more prudent message of them to you. “We need to keep alternative against failure. Because I don’t have any big confidence with our business idea and I don’t know whether our start-up will be successful or not.” I see your face twisted more and more. “so I have spent my time for it when I am not busy in the school life.” With freeze face, you ask me. “Then... How about you, two guys? Both of you are now spending your all time on building your new business, right?” The question mark has unusual high tone. Slowly, I give a prudent message of mine and Dave’s to you. “Actually, in the early of this month, we was given the chance to have a internship this summer. me at a venture capital, Dave at the medical company. So we are preparing for each one’s job.” Dave continued as follow: “About the start-up, actually, we haven’t make any web site... and it has taken six months to decide the name of our company.” I see your whole body just in calm without any motion. Kindly, nonetheless, I talk to you. “But, all of us still want to make our start-up company.” Timely, the eyes of yours and mine are in the shortest distance. “Would you please make an investment in our start-up?” Thankfully, you have a few seconds to breath freely. but the time is coming to answer us. What kind of answer will you return to us?

     Above story, actually, is a nearly fiction. But the main points of the story were absolutely real in the case of that Warby Parker company founders did a few years ago. The company, Warby Parker, is well known as the best online company for selling eyeglasses. and it was counted as the best innovative company ahead of Google and Apple in 2015 by a american monthly magazine Fast Company. (Before the company did, no one couldn’t think about buying a cheap eyeglasses in the U.S. and even from online.) In above fictional story, the investor is not actually an investor in real. He is Adam Grant, who is the youngest whole-life professor at Wharton, University of Pennsylvania. I read the original story of above in his recent book Originals. One of the founders, Neil, was actually Grant’s students at Wharton. And at the time he asked of Grant’s advice with a plan about their start-up company. But, as you already felt in the above fake story, in the real situation Adam Grant also felt very sick in front of him. And he firmly returned the answer to him, “I’m sure your business cannot be successful.” “If you really want the start-up to succeed, you guys should drop out of school and spend your whole awake time on building it.” added, Grant. But, after all the founders of Warby Parker accomplished and succeed what they wanted. They followed their sustainable and considerate minds. The professor Adam Grant got started to make reconsideration about his judgement. And finally the first chapter of his recent book is full filled with his honest reflection. He said he was wrong.

     Through this essay, I haven’t told you about the detailed progress of how their start-up succeed in the business market, but it’s focused on their own minds and styles. Most of us, even Adam Grant, believe that taking a risk is a basic and the best thing for start-up companies. So, we normally think if I have an idea for new, anyway I have to stop previous work as fast as possible because of concentrating on new. On one side, It can work powerfully. But, on the other side, it naturally makes a risk. The founders of Warby Parker broke the generally accepted ideas in our business society or in our personal life. They always kept alternative in their life and business for safety. And it, their way, also worked. It has made a success and changed the part of our world, even against very famous and talented professional person. Adam Grant summarized it at the end of the real story in his book, “They were making alternative against the failure and they avoided the risk. So I was absolutely sure they must fail. But, just that point made them succeeded after all.”

   Let's turn to the –a little fixed- title again.

Unconditionally taking a risk is a basic and the best thing for start-up companies or for the challenge in our lives?

 

 

Hongsung Kim

iamhongsungkim.blogspot.com