We have all experienced failures, either big or small. They are life events that, admittedly, are not great experiences and can bring us a lot of negative thoughts.
When we fail at something, we generally have two choices to consider. Either we keep going to try succeeding in what we’ve failed at, or we quit and say goodbye to our goals and dreams.
Choosing the former means that failures won’t stop us and persisting is always a good choice. Why? Here are some logical reasons why failure is the pillar of success, something that’s even crucial if we want to achieve our goals in life.
Failure gives us lessons to succeed that other experiences can’t
As Bill Gates said, “It’s fine to celebrate success, but it is more important to heed the lessons of failure.” When we fail, we learn things such as what don’t work, possible mistakes, real risks, and others. We learn those that cannot be learned so clearly in other situations. This ability to see things more clearly is relevant for success.
Therefore, when failures happen, we should find the lessons that we can use as cautions in the future. They may become important notes to help us determine what next move to take.
Failure humbles us to think that nothing is easy to get
When we have the right mindset, we can acknowledge failures as signs that we must work harder. Nothing in life that is worth it comes easy and that is also true for the ultimate success that we’ve always dreamed of. Failures can remind us of that fact, making us more motivated to put in the effort.
Success, after all, is something that can only be achieved by working hard consistently.
Failure makes us fine-tune our work approach to perfection
As failures help us realize our lapses, we will naturally learn what is right. It will force us to tweak the process and our approach of doing things in order to achieve progress.
Because of this, each point where we have failed should hone our work approach gradually. The new methods that will arise from our mistakes should be better compared to the initial ones we used when we were just starting.
Failure strengthens our mentality
A strong mentality is needed even after securing success. Many competitions and naysayers can knock us down if we don’t have the right mentality for maintaining our accomplishments. The journey that we take from the bottom to the position of success should prepare our mentality for that.
Each failure that we overcome during the journey rightfully strengthens our toughness. That should be a useful pillar for the mentality that we need to have when we achieve our goals.
Failure increases our appreciation of success
When we finally succeed after lots of failures on the way to the top, how do you think that feels? Immense satisfaction, right? Something that must be fought hard to get is much more valuable to us than the one that required less efforts.
The failures that we experienced on the road to success should make our achievements more valuable. This level of appreciation will also give us higher motivation to sustain our success or even improve it further to another level.
Failure sometimes creates valuable opportunities to succeed
Failures can also lead to other opportunities, which can be an important foundation for your success in the future.
To point out, let’s say that you are fired from your job. You may feel that you failed immensely because of this. However, this might also open the opportunity to start a business that you’ve always wanted. The time that you never had before is now at your disposal, allowing you to explore other possibilities.
When you fail, try to see it positively and carefully look at the opportunities that might be opened. They might become essential factors for you to succeed in the future.
Failure tests our resolve whether our goals are the right success for us or not
Do you have a strong resolve to something that you say you want to achieve? When your goals aren’t that meaningful, failures might be your wake-up call telling you that you’re supposed to do something else. It can also be the moment when you have to compare the efforts needed with the things you will get if you succeed.
If these goals are meaningful enough for you, then you should keep on pursuing them. If not, then you might want to think about your goals again and re-evaluate your definition of success. Hence, failures can also help you discover what your true aim in life is.
Failure is something that most successful people have experienced
It is always good to benchmark with those who have already made it before us. When we look at the success stories of successful people, most of them have experienced failures on their way to the top. Big or small, those experiences are important parts of the success that they now enjoy.
Do you want to succeed, too? Then there is little to suggest that you won’t go through struggles and setbacks like those before you have experienced.
Failures make successful people who they are. They become the contributing factors that direct them to the top. Acknowledging this should make you believe more that failure is a crucial part of success. After all, this has been tested by those who have experienced success before us.
So, what do you think about the notion that failure is the pillar of success? Have you thought that, somehow, success is more attainable with lessons gained from failures?
Don’t let failures stop you in achieving the things that give your life joy, pride, and meaning. Instead, make them an essential part of your progress.
The post 8 Logical Reasons Why Failure is the Pillar of Success appeared first on Dumb Little Man.
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Following the news that China’s esport giant VSPN (Versus Programming Network) has raised close to $100 million in a Series B funding round, led by Tencent Holdings, TechCrunch interviewed founder and CEO Dino Ying via email about his strategy for the company.
Founded in 2016 and headquartered in Shanghai, VSPN was one of the early pioneer in esports tournament organization and content creation out of Asia. It has since expanded into other businesses including offline venue operation.
VSPN began hosting the first large-scale esport event with offline audiences in August, although tournaments now operate under strict COVID-19 prevention measures.
TechCrunch: VSPN has a large content production ecosystem surrounding its esports activity. Can you expand on the detail behind your stated short-form video strategy? Will this involve TikTok?
Ying: VSPN intends to use our world-class video production capabilities and industry insights to create different forms of content. We will give our existing fans and a wider audience a new and vivid esports experience. Kuaishou, as our investors and a strategic partner, will support in all ways as a media platform to help our content reach more users. Short-form video is an important part of our future strategy and we look forward to working with platforms all over the world in this regard.
TC: What is VSPN’s share of the eSports market?
Ying: There is no official estimation of the size of the esports market but VSPN is far the largest esports organization in China, with over 1000+ employees and covering every major esports tournament you’ve ever heard of. By many measures, we are the largest esports organization in the world and will continue to expand.
TC: Why do you think Shanghai has become a center for esports?
Ying: As the biggest and perhaps most international city in China, it has a vibrant and increasingly sophisticated economy. Tech innovation and new industries are actively encouraged to grow here.
The Shanghai government has implemented supportive measures and policies to encourage the growth of esports both domestically and internationally. Thanks to these measures Shanghai has become an international hub for the biggest and best tournaments in the world
VSPN events have returned, despite COVID-19
TC: How important is research into eSports for VSPN and why?
Ying: It is vital for VSPN. As an esports total solutions provider aiming to build a sustainable global esports ecosystem, data and R&D allows us to give our fans a richer experience. The research center will allow us to continually improve as a company and develop the industry.
TC: You are the cofounder and chairman and CEO by title. What is the role of cofounder Ethan Teng?
Ying: Ethan Teng is Co-founder and president of VSPN. Ethan as one of the most important partners of VSPN, with his dedicated esports industry experience, he plays a vital role in leading and managing the company’s strategic goal setting and day to day management.
TC: What is the nature of the strategic relationship with Tencent?
Ying: VSPN is a key partner of Tencent in the esports industry. With Tencent’s support, VSPN has built a leading position in esports tournament content production. Since the emergence of esports in China, our deep-rooted industry expertise has helped further develop the esports ecosystem to grow and mature. Alongside Tencent we will continue to generate new opportunities within the industry.
TC: What made you choose these partners and why? What was the strategic thinking behind these decisions?
Ying: Together with Kuaishou, VSPN aims to establish an esports short-form video ecosystem to diversify existing content, and to build the connections between top quality creators and channels. With an extensive portfolio in the consumer and TMT sectors, both Tiantu Capital and SIG will utilize their industry insights and expertise to aid VSPN’s strategic development. With our investors, we will empower esports to be the new sports for the next generation.
TC: In addition to the core esports tournament and content production business, VSPN has branded esports venues. How important are these other businesses – like the venues – to the core offering of VSPN? What sort of growth do you expect in the next few years?
Ying: Regardless of business lines, VSPN’s core mission is to provide the best eSports experiences for our fans. And these experiences include not just online viewing experiences, but also offline ones where fans physically attend. We see our offline business as a natural way to extend our services to our fans; it is an important supplement to our overall offerings. We expect to grow it per our fans’ and partner’s demands.
TC: Mobile esports, especially the KPL and PUBG MOBILE (or Peacekeeper Elite in China), have attracted more and more female audiences. What is the future of eSports among women / girls?
Ying: Mobile gaming has really helped extend eSports’ reach to female participants and audiences. Rightfully so, we see a future of eSports where female participants take a more prominent role than they have done. Not just on stage as athletes, but also off stage as fans and more importantly backstage as top quality producers and decision-makers in the industry. The impact of having more female fans, athletes and professionals is exciting and will be hugely beneficial to the wider industry.
TC: What is the future of esports in Augmented Reality?
Ying: We think eSports in its full form will look and feel a lot different from what we’ve seen so far in sports and entertainment. The possibility of integrating real world gaming and virtual competitions is fascinating. VSPN is only beginning to test the boundaries of new technologies such as AR, VR. The emergence of these technologies will help us create fresher experiences, and the possibilities are endless.
TC: Please tell us more about your personal history?
Ying: Firstly, thank you for having me – it is a real pleasure to speak to TechCrunch and be able to announce our fundraise to the world. I have been working in the gaming and esports industry all my life and I’m excited about the future. With the team at VSPN we are proud to be pioneers in the esports industry.
I live between Beijing and Shanghai, but I spend a lot of my time travelling to other Chinese cities like Xi’an, Chengdu, Guangzhou and Shenzhen where we have esports arenas and business interests. Usually I travel internationally to some of our overseas operations and competitions, so I look forward to that when travel becomes easier.
I am a fan of traditional sports too and an avid football fan. I follow some of the European leagues – whenever I can, I go to matches to enjoy the atmosphere; I went to Stamford Bridge early this year and loved it, but seeing the AC vs Inter Derby live is hard to beat…
TC: Why did you get into this business and how?
Ying: Mostly because I am a HUGE gaming fan! I’ve been playing computer games since I was a teenager and enjoy playing all types. Earlier this year I played COD Warzone as soon as it came out and often play PUBG Mobile; I’m extremely lucky to be in an industry which I’ve loved since I was very young. It’s a great way to connect with friends and I am proud to have worked in game development and publishing for my whole career. 5 years ago, esports seemed like the obvious next step because of the competitive element. We saw the beginnings of a trend and founded VSPN with a world-class team to make that potential a reality.
VSPN is very proud to be leading the world in a relatively new industry. We think esports will continue to grow exponentially and will be an incredibly important part of the entertainment industry in years to come. To lead a Chinese company with a global future is really exciting.
TC: What motivates you as a businessman?
Ying: Bringing new forms of entertainment to millions of people around the world and building a global business. TC: Who inspires you most in the business world?
There are so many fantastic businessmen in China who are doing some really innovative things at the moment. For example, the live-streaming industry has become enormous in 2020 due to the pandemic and has offered entrepreneurs a new way to sell products and engage with new audiences.
If I had to name one it would be Mark Ren (COO at Tencent Holdings) – he is an exceptional businessman. The way he has helped create sustainable ecosystems in the entertainment space and captured trends is something every businessman should aspire to. This is something VSPN works hard at and we are very proud to be such close partners of Tencent. TC: What is your opinion of Silicon Valley?
Ying: It’s an amazing place and has shown the world how technology can improve lives all over the world. For many years it has led the world as a centre for creativity and innovation and continues to be an inspiration to entrepreneurs around the world. In China, we have lots of Silicon Valleys! TC: Is there anything else you’d like to say to TechCrunch readers?
Ying: This has been a challenging year for many businesses and the esports industry has had to adapt, but I think the world has seen how big esports is and how it can bring communities and cultures together. As the industry grows there will bigger and bigger online and offline tournaments across the world, especially with 5G and mobile gaming becoming even more popular. We look forward to being at the forefront of esports for competitors all over the world and hopefully some of your readers will enjoy watching our original content and tournaments.
Finally, with celebrities and big brands seeing live streaming and casual gaming as a new way to engage with a wider audience, the future for VSPN is very, very bright.