It was the world's 3rd largest private equity fund. But it was the fastest growing over the last 7 years. It's phenomenal growth rate and track record confirmed that the top management team had the skill to bet on winning horses. In business, we have no choice. We back the track record. When a start up becomes a failure, the failure becomes an orphan, it's left alone, with no one to support, no parents.
For the sad plight of orphans, we have specially built orphanages. An orphanage attempts to bridge the financial, and emotional gap in these young children. Orphans miss the security of parents. Their identity in society is confused. Orphanages are one of the alternative solutions. Orphans are often more internally stronger than other children, so they are not failures. They have better chances at success, only no helping hand to launch them. So, orphans are necessarily not failures.
In business, we avoid backing failures. But wise stock market sense says that when the chips of a stock are down, it's the best time to invest. You buy cheap. You buy into a failure. The failure if reversed can pay huge dividends. Back a failure, support it when it is down, and then enjoy the ride of success.
Most of us ride the same bandwagon. We call this the bandwagon effect. We attach ourselves to winners, and disassociate ourselves from losers. We are weak. We don't have internal will power and strength to guide and mentor a loser. Being a winner and seeing with them enhances our self-image. We ensure that success has several fathers, not only 1. Each of us want to be the owner of success.
It's a fact that failure is an orphan. But aren't our duties multiplied when that happens ? If we leave failure alone we show 3 things lacking in us - lack of will power, lack of brain power, lack of heart power. In reality, we lack nothing. But our ambitions, desires, wants, and greed have ensured that when we look in the mirror, we only want to see the perfect figure of success. So, when we see failure standing in the mirror, either we disown it or quickly change the mirror. We are not able to own upto and accept failure. We lack basic humility. We lack courage. Till then, failure will continue to remain an orphan.
- Sir Dr. Huz