Ticket to Ride

THE ENTREPRENEURIAL ROLLER COASTER

· Business,Entrepreneurship,Work,Mental Health

Summer is nearly here, and for many kids and families that means visiting theme parks and going on carnival rides. When I was a kid, I loved visiting a theme park, a water park, or a pop-up carnival in the summer time. In upstate, New York, we had Six Flags and now that I live in Los Angeles, we have Six Flags, Disneyland, Universal Studios, and more. We're blessed with many fun things to do on a summer day. People love to sign up for the thrill, and put up with waiting hours in line for their turn. In fact, waiting in line and building anticipation as you hear the screams of riders and imagine yourself in their spot, is indeed a part of the ride.

It got me thinking that embarking on the journey of entrepreneurship is a lot like strapping into a roller coaster seat. The exhilarating highs, stomach-churning drops, unexpected twists, and heart-pounding loops are all part of the ride. Just like in a theme park, we eagerly sign up for this adventure, patiently wait in line, and now that it's finally our turn, we take a deep breath and dive in. Let's explore why entrepreneurship is like a roller coaster and how embracing the ups and downs is essential for success.

The Initial Ascent: Anticipation and Excitement

As the roller coaster climbs its first incline, there's a mix of excitement and nervousness in the air. Similarly, when starting a business, there's a rush of adrenaline as you anticipate the possibilities and envision success on the horizon. Many of us started our careers working for someone else - observing them as they took their ride on the business ownership roller coaster.

As employees, managers, or assistants, we were at the amusement park, but weren't really on the roller coaster ourselves. For those of us who dreamed of business ownership, we knew the feeling of working and waiting until it was our turn; until we left the safe confines of the lines and food courts and actually bought a ticket to ride the roller coaster. And now it's our turn. Strap in.

"The way to get started is to quit talking and begin doing." - Walt Disney

Famous Ride: Walt Disney faced numerous ups and downs on the initial roller coaster of founding and launching Disneyland. Despite his eventual success, his journey was fraught with challenges:

  1. Rejections: Disney faced numerous rejections when pitching his idea for Disneyland to potential investors and partners. Many believed his concept of an amusement park with a theme was too risky and would not be financially viable.
  2. Financing struggles: Securing financing for Disneyland was a significant hurdle for Disney. Banks were skeptical of the project, and Disney had to mortgage his own assets and seek unconventional funding sources to finance the park's construction.
  3. Overcoming skepticism: Disney had to overcome skepticism from industry experts and even his own team who doubted the feasibility of Disneyland. Convincing others of his vision required persistence and determination.
  4. Construction challenges: Building Disneyland presented numerous construction challenges, including tight deadlines, budget constraints, and technical difficulties. Disney had to navigate these obstacles while ensuring the park met his high standards of creativity and innovation.

Despite these challenges, Walt Disney persevered, and Disneyland opened its doors to the public on July 17, 1955. The park quickly became a cultural phenomenon and laid the foundation for Disney's legacy as a pioneer in the entertainment industry.

 

The Thrilling Highs: Achievements and Milestones

As the roller coaster reaches its peak, there's a moment of triumph where you feel like you're on top of the world. Similarly, in business, there are highs such as landing a big client, launching a successful product, or reaching a significant milestone. But the ride isn't done with you, yet.

"The only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle." - Steve Jobs

Famous Ride: Steve Jobs, the co-founder of Apple Inc., faced incredible ups and downs on the rollercoaster of entrepreneurship and business ownersship throughout his journey with Apple, including his initial founding of the company, his eventual termination, and his triumphant return, which ushered in a new era of innovation and success:

  1. Founding Apple: In 1976, Steve Jobs co-founded Apple Computer with Steve Wozniak and Ronald Wayne in his parents' garage. Despite early success with the Apple I and Apple II computers, Jobs encountered challenges managing the growing company and clashed with executives brought in to provide more experienced leadership.
  2. Termination from Apple: In 1985, due to internal power struggles and disagreements over the direction of the company, Jobs was ousted from Apple by the board of directors. His departure marked a period of decline for Apple as it struggled to innovate and maintain its market share without his visionary leadership.
  3. Launching NeXT and Pixar: After leaving Apple, Jobs founded NeXT Computer and acquired the computer graphics division of Lucasfilm, which would later become Pixar Animation Studios. While NeXT struggled in the computer hardware market, Pixar found success with films like "Toy Story," establishing Jobs as a significant figure in both the tech and entertainment industries.
  4. Return to Apple and the iPod era: In 1997, Apple acquired NeXT, bringing Jobs back to the company he co-founded. Jobs assumed the role of CEO and immediately began restructuring and revitalizing Apple's product lineup. One of his most significant contributions was the introduction of the iPod in 2001, a groundbreaking digital music player that revolutionized the music industry and paved the way for Apple's dominance in consumer electronics.
  5. Launching new products and the rise of Apple: Under Jobs' leadership, Apple continued to innovate and launch iconic products such as the iPhone, iPad, and MacBook. Jobs' focus on design, simplicity, and user experience propelled Apple to unprecedented success, making it one of the most valuable companies in the world.

Despite facing setbacks and challenges, Steve Jobs' resilience, vision, and relentless pursuit of excellence transformed Apple into a global powerhouse, leaving an indelible mark on the technology landscape. His journey serves as a testament to the importance of perseverance, innovation, and never giving up on your dreams.

 

The Unexpected Twists: Challenges and Setbacks

Just when you think you've got it all figured out, the roller coaster takes an unexpected turn. Similarly, in business, challenges and setbacks are inevitable. Whether it's economic downturns, fierce competition, or internal struggles, these twists test your resilience and adaptability. Know that they will be there. Knowing that the roller coaster will turn and twist and that it is a guaranteed part of the ride, will help you deal with it, without resentment and with its proper perspective.

"The biggest adventure you can ever take is to live the life of your dreams." - Oprah Winfrey

Famous Ride: Oprah Winfrey's journey to success was marked by numerous trials and tribulations, starting from her tumultuous childhood to facing discrimination in the workplace. Despite these challenges, her unwavering determination and belief in herself propelled her to overcome adversity and build a multimedia empire that inspires millions:

  1. Tumultuous Childhood: Oprah Winfrey was born into poverty in rural Mississippi and faced a difficult upbringing marked by poverty, abuse, and instability. Despite the hardships she endured, Oprah found solace in books and education, recognizing their power to transform lives.
  2. Overcoming Adversity: Throughout her early career, Oprah faced various setbacks and challenges, including being fired from her first television job and battling sexism and racism in the male-dominated media industry. Despite these obstacles, Oprah remained resilient and continued to pursue her passion for broadcasting.
  3. The Oprah Winfrey Show: In 1986, Oprah launched "The Oprah Winfrey Show," which would become one of the most successful and influential talk shows in television history. Through her show, Oprah tackled important issues, inspired millions with her personal journey, and empowered audiences to live their best lives.
  4. Building a Multimedia Empire: Beyond her talk show success, Oprah expanded her media empire to include film production, publishing, and philanthropy. She founded Harpo Productions, launched O, The Oprah Magazine, and established the Oprah Winfrey Network (OWN), cementing her status as a media mogul and cultural icon.
  5. Philanthropic Endeavors: Throughout her career, Oprah has been deeply committed to philanthropy and giving back to others. She has donated millions to various charitable causes, established educational programs, and used her platform to advocate for social justice and equality.

Despite facing numerous obstacles and setbacks, Oprah Winfrey's journey is a testament to the power of resilience, perseverance, and self-belief. Her remarkable success serves as an inspiration to millions around the world, demonstrating that with determination and courage, anything is possible.

 

The Heart-Pounding Loops: Risks and Uncertainty

As the roller coaster hurtles through loops and corkscrews, there's a mix of excitement and fear. Similarly, entrepreneurship is fraught with risks and uncertainty. From investing your savings into a new venture, to making tough decisions that could make or break your business, navigating these loops requires courage and resilience.

"The biggest risk is not taking any risk... In a world that's changing really quickly, the only strategy that is guaranteed to fail is not taking risks." - Mark Zuckerberg

Famous Ride: Mark Zuckerberg, the co-founder and CEO of Facebook, took a bold risk when he dropped out of Harvard to pursue his vision of connecting people through social media. Despite facing skepticism and challenges along the way, his willingness to take risks and adapt to change propelled Facebook to become one of the most influential companies in the world.

  1. Dropout from Harvard: Mark Zuckerberg's decision to drop out of Harvard University to pursue his vision of connecting people through social media was a pivotal moment in his life. Despite facing uncertainty and skepticism from family and peers, Zuckerberg was determined to turn his idea into reality.
  2. Founding Facebook: In 2004, Zuckerberg, along with his college roommates, co-founded Facebook from his dorm room. Initially launched as a social networking platform for Harvard students, Facebook quickly expanded to other universities and eventually became available to users worldwide. Zuckerberg's ambition and foresight propelled Facebook's rapid growth and popularity.
  3. Facing Skepticism and Challenges: As Facebook grew in prominence, Zuckerberg faced criticism and legal challenges, including accusations of privacy violations and concerns about the platform's impact on society. Despite these setbacks, Zuckerberg remained resilient and committed to addressing issues while continuing to innovate and expand Facebook's reach.
  4. Adaptability and Innovation: Throughout Facebook's evolution, Zuckerberg demonstrated a willingness to adapt to changing trends and technologies. Under his leadership, Facebook acquired Instagram and WhatsApp, expanding its portfolio and solidifying its position as a dominant force in the social media landscape. Additionally, Zuckerberg spearheaded initiatives such as Facebook Live and virtual reality (VR) technology, further diversifying the company's offerings.
  5. Impact and Influence: Today, Facebook (Meta) is one of the most influential companies globally, with billions of users and a significant impact on how people connect, communicate, and share information. Zuckerberg's vision of creating a more connected world has reshaped the way we interact online and has cemented his legacy as a tech visionary.

Despite facing skepticism and challenges along the way, Mark Zuckerberg's bold risk-taking, adaptability, and unwavering commitment to his vision have propelled Facebook to unprecedented success, making him one of the most influential figures in the tech industry.

Conclusion

In short, entrepreneurship is indeed a roller coaster ride, filled with highs, lows, twists, and turns. Just as we eagerly line up for the thrill of a roller coaster, we must embrace the journey of business ownership with gratitude for the opportunity and the privilege. By embracing the excitement, anticipating the setbacks, and accepting and dealing with the pressure of the risks with wonder and gratitude, we can navigate the entrepreneurial roller coaster with confidence and resilience. So strap in, hold on tight, and enjoy the ride. After all, it's what we signed up for. Remember to keep your heads, hands, and feet with you at all times.

See you at the photo stand after.