My Favourite Failure: I made a big bet on the wrong product -Mussayab Ehtesham
Mar 14, 2024
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A story of perseverance and learning from failure as Mussayab Ehtesham shares how he turned a $30,000 e-commerce flop into a $1M success. From struggling with a camera wrap product to overcoming setbacks with strategic pivots, his journey to entrepreneurial success is filled with valuable lessons.
Developing employees is crucial for long-term business success by leveraging their potential.
Resilience, learning from mistakes, and pivoting strategies are essential for entrepreneurial success.
Deep dives
Importance of Developing Your Team
Developing your team is highlighted as one of the most impactful actions a leader can take, as it leverages the potential of the employees. The podcast emphasizes the significance of focusing on employee development for long-term success in a business. By using tools like Personio, leaders can streamline HR processes, allowing more time and energy to be invested in nurturing and growing the team.
Journey to Entrepreneurship
The podcast recounts Messiah's journey from being dissatisfied with his corporate job to venturing into passive income streams. Through failed attempts in trading stocks and dropshipping, he eventually found success in private label e-commerce. Messiah's pursuit for freedom and success led him to identify a niche in the market and take a chance on launching his own product despite initial setbacks.
Persistence and Adaptability in Business
Despite facing challenges and initial failures, Messiah's perseverance and willingness to learn from mistakes enabled him to pivot and find success. The narrative showcases the importance of resilience in entrepreneurship, emphasizing the need to adapt strategies, optimize product offerings, and continually invest effort even in the face of setbacks. The transformation from initial losses to eventual revenue success highlights the critical role of persistence in the entrepreneurial journey.
Mussayab Ehtesham sunk $30,000 of his savings into an e-commerce product that completely flopped. Instead of quitting, his obsession with entrepreneurial freedom drove him to learn from that costly failure and iterate relentlessly until he cracked the code and built a $1M private label business.