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Wednesday, October 19, 2011

Success vs. Failure

I've started several businesses over the years, and I've had a couple that have been successful and I've had a couple that have failed.  I often find myself thinking about what I've learned, and how I can do things better. 

That thought process always leads me to another question, have I learned more from success, or more from failure?


I think the answer differs for everyone depending on your experiences, but I can say that for me I've learned far more from the things I've done wrong in business than from the things I've done right.  This is going to sound strange, but I actually welcome failure because it's an opportunity to gain incredible insight and education.  Failure when analyzed fully, presents us with a road map to start over and do things differently (and hopefully better!).  

To be successful, I believe you have to step out of your comfort zone, take risks and not be afraid of failure.  Big swings lead to a lot of strikeouts, but they also lead to a lot of home runs.  If we don't take the time to examine our failures, we are bound to fail repeatedly. Some people say that success breeds success, and I think that's true for some.  For me, it's the opposite.  I've learned to succeed from the failures I've had, and I believe that every failure is one step closer to success.  

Do you fear failure?  Have you learned more from success or from failure?  Please comment and continue the conversation, I think it's an important one.  

Monday, September 19, 2011

Why Detroit?


Why Detroit?  I get that question all the time.  People are amazed that I've chosen to set up shop here and that I want to stay here and make a difference.  There are even people who live here that don't understand it.  I'm on a mission to change that.


My answer is simple.  I believe there is no better place on planet Earth right now to be an entrepreneur, or anyone looking to launch a new idea.  This city is ripe for creativity, innovation, and development.  The barriers to entry really don't exist.  The talent of the people here is strong.  The drive and commitment to revitalize is greater than most other places.  The energy level of the people, the heartbeat of the city is tremendous.  We had over 200 ideas submitted to the Hatch Detroit Retail Business Contest!


If you don't believe me, spend an early morning down at Eastern Market on Saturday (my favorite place to be in Detroit).  Grab lunch at Traffic Jam & Snug in Midtown during the work week.  Hit up Roast downtown for drinks at Happy Hour.  Take a stroll along the RiverWalk or run around Belle Isle on a Sunday morning.  These are just a few examples, there are literally hundreds more I could have used.
  
The status quo is changing.  Revitalization is churning.  It's not going to happen overnight,  and the process will be slow, but it's coming.  Get on board!  What do you think?  Do you agree?  Do you disagree?  Do you think I'm insane?  

About Ted Balowski

I’m passionate about Detroit and passionate about entrepreneurs!  I’ve started several businesses in the last 10 years, including Hatch Detroit, Ballgame Consulting, 4DetroitDudes.com, and ContractorKey, LLC.  I’m also an Account Executive with CareTech Solutions, a Michigan based healthcare IT company.  I’m very interested in helping other entrepreneurs by sharing my experiences, and shining a bright light on all the positive things going on in the City of Detroit.  When I’m not burning the midnight oil, I try to spend as much time as possible with my family!

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