Neil Douglas Reilly

putting it all together

The renowned statement by Thomas Edison on reinventing failure to find 10,000 ways that something will not function is a core mantra that entrepreneur Steph Korey practices. Korey states that people who take the effort and time to discover the lessons from their mistakes and failures succeed in the current cut-throat business setting.

 

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Despite the challenges that she has faced in establishing a $1.4 billion travel-oriented company, Steph Korey has embraced a go-getter attitude. In addition, she is a committed investor who strives to support firms started by entrepreneurs from minority backgrounds. She has received various accolades, such as being named one of the ‘30 under 30’ in Forbes magazine in e-commerce and retail in 2016.

How Mistakes and Failures Promote Success

Steph Korey has shared insights that can help budding entrepreneurs:

Failure Is a Fundamental Ingredient in Winning

According to Steph Korey, if people are not failing, they may not win either. She emphasizes this point to stir up inventors to take risks and achieve small daily wins that can lead to massive gains.

Failure Is the Basis for Learning

Korey advises that people need to embrace the right disposition and culture and proper resources and tools. To succeed in business, we should discover takeaways from failure and build a culture that fosters openness, trust, and teamwork.

Disagreeing Is Not Failing

Korey advocates that disagreement is not only typical and healthy; it is inevitable in human interactions. By disagreeing openly, people can engage with each other and convey their ideas and expertise.

Discussing Failure Enhances Improvement

Steph Korey indicates that talking about failure hypothetically is much easier than actually embracing it and highlighting the instances they happen. In her experience, it is imperative to create a platform where people can openly share wrongdoings and lessons the team can realize from failure for future purposes.