#4 Angelinvesting.it - From idea to Series A - Weekly Newsletter

Sense of security and faillure

3 Minutes to reflect

In the 90s, whenever a car component supplier of the FIAT Group (a car automaker located in Turin, now part of the French conglomerate FCA) was in trouble, the company's management would come to my father's door.

In exchange for assistance, my father would receive new orders and favorable prices. This arrangement greatly contributed to my father's wealth. Ironically, in the mid-2000s, the supplier in crisis was us, and for my father, it was one of the toughest times of his life.

For me, that failure was an extremely formative life experience. I first-hand experienced the ups and downs of entrepreneurship: the intense drive to strive higher and the emotional difficulties of falling.

There is quite a lot of plastic in any car.

In entrepreneurship, the rules of the game are clear. Failure is an inherent part of the risk-taking process. Doing business involves taking calculated risks. Nevertheless, not attempting is far worse than failing.

In a well-known Google study named "Project Aristoteles" the key factors for a team's success were evaluated. The study found that two psychological characteristics stood out above all others: a shared narrative that fostered a sense of belonging and a strong sense of security within the group.

Having a sense of security in business means accepting failure as part of the journey. Putting aside one's ego and focusing on creating value rather than status.

2 Resources to advance to pro-level

Management principles derived directly from Google's Project Aristotle (3-minute read)

Thought-provoking quote: "You miss 100% of the shots you don't take," by Wayne Gretzky's father.

1 Reason to be happy

As harsh as capitalism may sound, it appears to be effective. Consider the remarkable decrease in the number of people living in extreme poverty

Percentage of people leaving in extreme poverty

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Have a great weekend,

Simone

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