Joe Stump on How to Turn Past Mistakes Into Future Successes

In Chapter 4 of 14 in his 2012 interview, Internet entrepreneur Joe Stump answers "What Role Has Reflection Played in Shaping Your Personal Growth?"  Stump finds reflection the only way to leverage past mistakes and turn them into future successes.  Stump writes a bullet point list of mistakes made at his previous company, SimpleGeo, and uses this to guide his next company, Sprint.ly.  Joe Stump is a serial entrepreneur based in Portland, OR. He is CEO and co-founder of Sprint.ly, a product management software company.  Previously he founded SimpleGeo, which was sold to Urban Airship in October 2011.  He advises several startups - including attachments.me and ngmoco:) - as well as VC firm Freestyle Capital.  He earned a BBA in Computer Information Systems (CIS) from Eastern Michigan University. 

Transcript:

Erik Michielsen: What role has reflection played in shaping your personal growth?

Joe Stump: I'm a big fan of learning from mistakes. I'm definitely a trial and error kind of guy, that’s how I learned how to program. You could make a solid argument, that’s how I've learned to start companies. So, I think that reflection is the only way that you can leverage your past mistakes into future success.

So I've spent a lot of time, particularly after SimpleGeo, reflecting and I actually wrote a long document, basically this long bullet point list. It was basically a punch list of things that I had messed up on and that bullet list, that punch list of mistakes basically very much guided me as I went on to create my next company.

Erik Michielsen: Can you give a couple of examples?

Joe Stump: Yeah. Yeah. I think, so, at SimpleGeo, I think we raised too much money too quickly and we hired too many people too quickly before we had really figured out what the product was fully going to be and how we were going to take it to market. So, basically everything was kind of done backwards.

So at Sprint.ly, I have the mantra of like -- I beat the drum of what I call the three S’s, small, slow, and steady. We're building a company that I hope to work at for possibly decades and you don’t do that overnight. So, that’s probably been the biggest lesson that I've taken away. We had amazing people and amazing investors and obviously plenty of money in the bank at the time but it was putting the cart before the horse in a lot of ways.

Audrey French on How Personal Priorities Change With Age

In Chapter 10 of 15 in her 2012 Capture Your Flag interview, entrepreneur Audrey Parker French answers "How Are Your Personal Priorities Changing As You Get Older?"  With maturity and age, French learns to be less harsh on herself when things go wrong.  Additionally, she learns to be more open with her strengths and weaknesses to find and take action on improvement opportunities. 

Audrey Parker French returns to CYF for her Year 3 interview after a one-year sabbatical from work and getting married.  She co-founded CLEAResult, an energy management consulting firm.  In 2010, CLEAResult ranked #144 in the Inc. 500 list of fastest-growing private companies.  In late 2010, CLEAResult was sold to General Catalyst Partners.  She graduated from Wake Forest University. 

Transcript: 

Erik Michielsen: How are your personal priorities changing as you get older?

Audrey Parker French: I think as I’m getting older, I’m recognizing that new circumstances call for an openness of mind and an openness to consider new actions and new thoughts that previously maybe didn’t fit into my world. So it’s a recognizing that maybe I didn’t have it all figured out in certain areas that I – that previously I thought I had it all figured out and having to come to grips with, “Well, I actually really stink at that.” And really being honest with myself to learn how to excel or improve in areas where I was not strong.

And then also looking at where aspects of my life where not really up to level that I  -- where I want them and just being willing to make the changes necessary. I think a big part of developing as I’ve gotten older is I’m learning, I’m still – I still haven’t mastered it but I’m learning how to be easier on myself. How to not beat myself up as quickly or as harshly or as long when I get upset with something that I’ve done wrong or that I just didn’t see coming or that I just – you know, something was off with it. In the past, I’ve spent a lot of my energy really making myself miserable when I’ve messed up something. And I think with age and maturity comes perspective to say, “You know what? Mistakes happen. Things go wrong. Things happen.” 

And I can choose to look at it as I’ve done terrible and wrong or I could choose to look at it like, “Well, that’s certainly wasn’t what I was intending to do.” And in the future I’ll do something different. And let me see what else I can learn from this experience and then I can let it go and get on with my day, get on with my life, you know, clean up any messes that have – that are remaining but once it’s cleaned up there’s no reason to just keep being upset with the fact that we’re all just still learning.

How Leadership and Management Roles Differ - Mike Germano

In Chapter 10 of 19 in his 2012 Capture Your Flag interview, social media ad agency CEO Mike Germano answers "How Do Leadership and Management Differ in What You Do?"  Germano acknowledges his weaknesses as a manager and what he has done to compensate in a team setting.  He shares what behaviors and experiences have shaped him as a leader and how he has recruited and empowered managers working in digital media.  Mike Germano is co-founder and CEO of DUMBO, Brooklyn based social media advertising agency Carrot Creative.  Previously, Germano ran for and was elected to public office in Connecticut.  He is a graduate of Quinnipiac University. 

Why Mutual Respect Matters in a Marriage - Jason Anello

In Chapter 2 of 20 in his 2012 interview, creative director Jason Anello answers "Why is Mutual Respect Important in a Marriage?"  Anello shares how respect plays into basic communication and experience fundamental to living with a spouse.  He shares why respect matters in a marriage of two professionals who may not always be able to understand each other in a day to day job context.  Jason Anello is a founding partner and creative director at marketing services agency Manifold Partners.  He is also the co-founder of the Forking Tasty Brooklyn supper club.  Previously, Anello held creative leadership roles at Yahoo! and Ogilvy & Mather.  He graduated from the University at Albany. 

The Humbling Experience of Building a Company - Jason Anello

In Chapter 15 of 20 in his 2012 interview, creative director Jason Anello answers "What Has Been the Most Humbling Experience to Date Building Your Company?"  He is amazed the amound of work required building the business foundation at Manifold Partners.  From business development to operations, Anello finds great challenge in all the elements required to run not just creative projects but also all aspects of a business.  Jason Anello is a founding partner and creative director at marketing services agency Manifold Partners.  He is also the co-founder of the Forking Tasty Brooklyn supper club.  Previously, Anello held creative leadership roles at Yahoo! and Ogilvy & Mather.  He graduated from the University at Albany. 

Advice on How to Handle Rejection

In Chapter 16 of 16 in her 2012 interview, author and food writer Cathy Erway answers "How Do You Deal With Rejection?"  Erway notes how dealing with rejection comes down to attitude and ego.  She reminds herself rejection is not about her and shifts focus on understanding the party saying no and why it would do so.  Cathy Erway is an author and food writer living in Brooklyn.  Her first book, "The Art of Eating In" developed from her blog "Not Eating Out in New York".  She earned a BA in creative writing from Emerson College.

Transcript: 

Erik Michielsen:  How do you deal with rejection?

Cathy Erway:  Rejection is actually -- it is a product of ego. I'm very easygoing, and if somebody rejects me and it's not a huge deal, I really handle it pretty well. Or if something, you know, I -- say I submitted to a poetry contest and I didn't get it, it's really not--I'm not going to be crushed, so I don't really get so worked up.

And if you didn't have a big ego, then you, there's no such thing as rejection, actually. It doesn't exist. It is something that you feel when you're--when somebody says no for whatever reason. You can take that to be, "Oh, I respect the way that person or that organization is thinking," and that's, it is what it is, you know? That's all it is. It's not about me, but let's think about what they were thinking, and that's their choice, okay. So, cool. But if you're thinking of it from only your point of view, "Oh," you know, "the world is -- It's me against the world. And the world is rejecting me." Then of course you're going to feel bad, so it's really about an attitude.

How to Bounce Back From Rejection - Phil McKenzie

In Chapter 14 of 21 in his 2011 interview, Phil McKenzie answers "What Has Been the Most Humbling Experience to Date Building Your Company?"  For McKenzie, the humility comes from letting go of pride of ownership and understanding that rejection is part of business and not every offering is right for potential clients or partners.  McKenzie is the founder of Influencer Conference, an international event series bringing together tastemakers across the arts, entrepreneurship, philanthropy and technology.  He is also managing partner of influencer marketing agency FREE DMC.  Previously he worked in Domestic Equity Trading at Goldman, Sachs, & Co.  He earned his BA from Howard University and MBA from Duke University. 

When to Kill Your Passion Project - Julie Hession

In Chapter 16 of 21 in her 2011 Capture Your Flag interview, food entrepreneur Julie Hession answers "How Do You Evaluate When to Continue a Project and When to Kill It?"  She notes the challenge of abandoning a passion project.  She learns from her husband and his corporate project pursuits and the number that fall through.  Hession learns to evaluate short and long term project benefits as she grows as an entrepreneur.  Julie Hession is the founder of Julie Anne's All Natural Granola Company.  Passionate about food since childhood, Hession has developed her career by food blogging, cooking contests, and starting fine food companies.  Hession earned an MBA in Marketing from Duke University and a BA from UNLV. 

How to Start a Gourmet Food Business - Julie Hession

In Chapter 19 of 21 in her 2011 Capture Your Flag interview, food entrepreneur Julie Hession answers "How Has Starting a Granola Company Built Upon Your Previous Food Experience?"  As a retail store owner, Hession learns how the "other side" of food makers work by attending industry conventions.  She researches different approaches and applies lessons learned when she launches her own product line.  Once established, she then encounters challenges working with large gourmet food and grocery stores and competing in a cutthroat market.  Julie Hession is the founder of Julie Anne's All Natural Granola Company.  Passionate about food since childhood, Hession has developed her career by food blogging, cooking contests, and starting fine food companies.  Hession earned an MBA in Marketing from Duke University and a BA from UNLV. 

The Humbling Experience of Working at a Restaurant - Scott Gold

In Chapter 16 of 20 of his 2011 Capture Your Flag interview with host Erik Michielsen, author and writer Scott Gold answers "How Has Working Restaurant and Service Industry Jobs Shaped Your Character?"  Gold believes everyone in America should be obligated to work in the service - or restaurant - industry for one year.  The experience teaches humility, providing high quality service independent of your feelings about the customer.  Working at a restaurant, Gold finds himself learning something new every day and always trying to improve how he serves customers.  Scott Gold is an author and writer based in New York City.  When not writing, Gold moonlights as a bartender at Char no. 4 restaurant in Brooklyn.  He earned a BA in Philosophy from Washington University in St. Louis. 

Entrepreneur Life Myths and Realities - Hattie Elliot

In Chapter 13 of 16 in her 2011 Capture Your Flag interview with host Erik Michielsen, The Grace List founder and entrepreneur Hattie Elliot answers "In Retrospect, What Has Been the Most Difficult Part About Being an Entrepreneur?"  Elliot shares how entrepreneurship is an exhausting pursuit full of fast and unexpected changes and lots of hard work.  She notes how youth culture is conditioned via media to expect big prizes and rewards come with little effort.  Elliot notes how far away this is from the entrepreneur life reality.  Elliot is the founder and CEO of The Grace List, which is redefining the dating world by creating opportunities for singles to revitalize personal interests and find intriguing people who will influence their lives.  Before founding The Grace List, Elliot worked as a social entrepreneur and business development consultant.  Elliott graduated from the University of Cape Town in South Africa, where she studied economics, philosophy, and politics.

How Reality TV Show Goes From Pitch to Pilot - Hattie Elliot

In Chapter 14 of 16 in her 2011 Capture Your Flag interview with host Erik Michielsen, The Grace List founder and entrepreneur Hattie Elliot answers "What Has Developing a Reality TV Show Taught You About How the Entertainment Industry Works?"  As a businessperson, Elliot faces a steep learning curve understanding how things work in television.  She learns to manage expectations, work with a large, talented team, and adapt her business world to the television world as her reality TV show goes from pitch to sizzle to pilot.  Elliot is the founder and CEO of The Grace List, which is redefining the dating world by creating opportunities for singles to revitalize personal interests and find intriguing people who will influence their lives.  Before founding The Grace List, Elliot worked as a social entrepreneur and business development consultant.  Elliott graduated from the University of Cape Town in South Africa, where she studied economics, philosophy, and politics.

Learning Business Strategy Research in Stanford PhD Program - Ben Hallen

In Chapter 8 of 21 in his 2011 Capture Your Flag interview with host Erik Michielsen, business school professor Ben Hallen answers "What Was Most Challenging About Earning Your PhD at Stanford University?" Hallen finds the greatest challenge rising to the expected level of research. Understanding what it means to create high caliber research. Not only is it rigorous in understanding what is the right behavior to use, but also rigorous in that it strives to learn something that is not understood yet that applies in strategy and management. Hallen is an Assistant Professor of Strategy and Entrepreneurship at London Business School. Previously, he was Assistant Professor of Management and Organization at University of Maryland. Hallen earned his PhD from Stanford University and its Stanford Technology Venture Program (STVP). He has been a startup CTO and graduated from the University of Virginia with a BS in Electrical Engineering and a Masters in Computer Science.

Entrepreneur Life Myths and Realities - Slava Rubin

In Chapter 3 of 12 in his 2011 Capture Your Flag interview with host Erik Michielsen, IndieGoGo co-founder and entrepreneur Slava Rubin answers "How is Life as an Entrepreneur Different Than You Imagined It Would Be?" Going in, Rubin expects it to be similar to what he saw on "The Big Idea" with Donny Deutsche. He notes, in reality, being an entrepreneur is more work, more exciting, and more rewarding than he ever imagined. Rubin is co-founder and CEO of IndieGoGo.com, a crowdfunding startup whose platform helps individuals and groups finance their passions. Before IndieGoGo, Rubin worked in management consulting for Diamond Consulting, now a PWC company. Rubin founded and manages non-profit Music Against Myeloma to raise funds and awareness to fight cancer. He earned a BBA from the Wharton School at the University of Pennsylvania.

Transcript: 

Erik Michielsen:  How is life as an entrepreneur different than you imagined it would be?

Slava Rubin:  I mean I always thought it was interesting when I like saw other entrepreneurs, especially when I’m like watching CNBC, and I’m just hearing people’s stories, or Donnie Deutsch who had this – "The Big Idea", and like the really regular entrepreneurs who told about their dreams.  I would just say that it’s more work than I even thought, it’s more exciting than I even thought, and it’s genuinely more rewarding to be part of it than I even thought.  I’ve always been a person that likes the concept of there used to be thin air, and then based on your actions, something happened, and you created something.  And I always thought that was important, but being a part of it really from the entrepreneur perspective is even more amazing.

What Makes Failures Great Learning Experiences - Matt Curtis

In Chapter 8 of 18 in his 2011 Capture Your Flag interview with host Erik Michielsen, public affairs and communications strategist Matt Curtis answers "Why are Failures More Meaningful Learning Experiences Than Successes?" Curtis recalls a political campaign where one of his favorite candidates lost the race due to one small error. He notes how losing the race ultimately amplified the learning experience for those involved with the campaign. Curtis is the communications director for Austin mayor Lee Leffingwell. Curtis' charity work includes affiliations with Capital Area Food Bank, Big Brothers, Big Sisters, Students of the World, the Rainforest Project and the Art Alliance. In 2011, Curtis won "Austinite of the Year" in the Austin Under 40 Awards. He earned his bachelor's degree in radio, television and film from the University of North Texas.

How Marketer Changes Career to Pursue Passion for Sports - Randall Metting

In Chapter 5 of 11 in his 2011 Capture Your Flag interview with host Erik Michielsen, brand marketer and Austin on-air radio personality Randall Metting shares how he broke into sports marketing working with the PGA Tour.  After working with Coca-Cola and ad agency McCann-Erickson, Metting decides to take a pay cut to work in sports.  Working with the PGA Tour leads to several opportunities organizing events for big brands, including Nationwide and Chrysler, for different golf events.  Metting is a brand developer focused on the intersection of luxury goods, professional sports, and charitable cause sponsorship and promotion.  He is also an on-air radio personality for 93.3 KGSR Radio Austin.  He earned a B.S. in Advertising from the University of Florida. 

How Starting a Company Teaches Humility - Dan Street

In Chapter 1 of 20 of his 2011 Capture Your Flag interview, software entrepreneur and Loku founder Dan Street shares how he has embraced the challenges starting a business. He notes the lifestyle changes associated with becoming an entrepreneur - constant focus on the business, less sleep, and less social time. He finds meaning in learning the ropes - hiring, raising capital, and learning all aspects of the business - as he works on his vision. Street is the founder and CEO of Loku, previously known as Borrowed Sugar which develops Internet software to strengthen local communities. Previously, Street worked in private equity at Kohlberg, Kravis, and Roberts (KKR) and management consulting at Bain & Co. He earned a BA in music and business from Rice University.

Why Entrepreneurs Need Great Cheerleaders - Dan Street

In Chapter 3 of 20 of his 2011 Capture Your Flag interview, software entrepreneur and Loku founder and CEO Dan Street shares why entrepreneurs need great cheerleaders. He notes entrepreneurship is a perception game. To gain confidence and build that positive perception, Street finds value in both internal company support networks as well as outsider support networks. By being transparent and showing his flaws, the insider and outsider "cheerleaders" find more ways to support him. Street is the founder and CEO of Loku, previously named Borrowed Sugar, which develops Internet software to strengthen local communities. Previously, Street worked in private equity at Kohlberg, Kravis, and Roberts (KKR) and management consulting at Bain & Co. He earned a BA in music and business from Rice University.