Strategies
Tip Sheet on Tap” podcast hosted by Marquette’s Innovator-in-Residence Chuck Swoboda, Moore discussed his entrepreneurial journey and provided insight on achieving success through increasing ambition and embracing failure.
Increase ambition and embrace failure
E
lmer Moore is the executive director of Scale-Up Milwaukee, founder of Milwaukee Denim Company, and a professor at Marquette University. In a recent episode of the “Innovators
SHOOT FOR THE MOON Moore identified lack of ambition as one of the most significant barriers to growth. “The reality is, if you are tying to grow a business that grows 10% a year, you’ll probably underachieve and grow 5% a year,” said Moore. “If you are diligently trying to grow a business that’s going to grow 25, 30, 45%, you’ll still likely underachieve that, but you’re more likely to get 15 to 25%.” Your goals and plans are an indication of your confidence, said Moore. Confidence in the economy, confidence in your own abilities and confidence in the systems you’ve put in place.
MAKE FAILURE LESS DANGEROUS To explain his philosophy on failure, Moore used the visual of falling off a tightrope lifted three feet off the ground. If an entrepreneur or risk-taker falls off that tightrope, they may break their leg, but they won’t break their neck. “It’s going to teach a lot of folks how to balance, and for the least risk averse, it’s going to give them an opportunity to prove they can do a handstand and a cartwheel on this tightrope,” said Moore. “But it’s also likely to convince some folks that, ‘I just can’t fall. Even though I’m not going to break my neck, I just can’t fall. I can’t break my leg.’” He said that learning how to succeed doesn’t come from being terrified of losing, but instead from loving to win. Listen to the podcast at: www.innovatorsontap.com/podcast/becoming-yourself-w-elmermoore. n
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