Success Comes With A Price - Interview with Sim Wong Hoo
Success comes with a price of failure. How much you have paid for the lessons of failure determines your next step of success. Some people have the thought that you are successful, because you are lucky. NO WAY, success doesn’t come with great luck. If you just want to try your luck, you may go to the casino, or go and buy a lottery ticket.
But success doesn’t work that way. You need to put in effort and the effort that you put in does not definitely turns out to be the seed of success, but even if it is a failure, you paid a price to learn something, which you definitely know that you just can’t get things right in this way, and you end up fine tuning the way, which makes you smarter, wiser and tougher, and closer to success.
We are going not to look at the success story of Creative Technology, but their failure story that impacts so much on them, to become what they are today. Every failure faced, is a lesson learnt.
The Failure Story of Creative Technology
The story that I want to share with you is that no one can ever succeed without failing, even the founder of Creative Technology Ltd, Mr Sim Wong Hoo. Creative Technology Ltd is a great manufacturer of their own in-house brand of sound systems for entertainment.
With glory of successes in today’s world, Creative Technology moves into the NASDAQ, and their products are a must in many computers for excellent sound entertainment. But little do people know that the company has failed in their journey to success, when they spent time creating their own computer, and not targeting at their niche.
And eventually, the company realized they can’t continue doing so, and specialized very much in the music industry, which contributed to what they are, and where they are today.
Interview with Sim Wong Hoo
Here is an interview featuring the founder of Creative Technology Ltd, Mr Sim Wong Hoo.
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on Thursday, August 9th, 2007 at 12:20 am and is filed under Self Improvement, Success Secrets.
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September 3rd, 2007 16:24
One of the things Sim talks about here is about FOCUS - how he had to focus to become successful in business. Pretty common mistake that people try to be everything to everyone, ie providing so many services and products that they have no focus, and become a jack of all trades, master of none.
September 4th, 2007 23:39
That’s true, regardless of what line of services or products that one is offering. Diversifying into too many areas tend to be too way off of our concentration. Hence, it is important to stay focus in one area, do it well before you really think about going into and focusing on others.