Timmons (1990:291) holds
that success without the highest measure of integrity and reliability is
failure. Integrity and reliability are
probably the most important factors contributing to the long-term success of
entrepreneurs. This is because these two
traits are the glue and fiber that bind successful personal and business
relationships and make them endure all the difficulty. Besides that, integrity and reliability also
help to build and sustain trust and confidence between the entrepreneurs with
their investors, partners, customers and creditors.
As for Kathryn Minshew, the
founder and CEO of The Muse she had been through this kind of situation once
before she created The Muse. Minshew said, “In 2011, I woke up one morning to
find out that I couldn’t log in into PYP Media, a site that I had built with
all my entire life savings into. That’s when my life had fell apart”. This happened to her because there’s a
disagreement between the four cofounders turned into a nasty power struggle
that put Minshew and Alex, her current Muse cofounder, at the receiving end of
screaming threats and she woke up one morning to find her website access, as
well as of Alex and all their team shut off.
She felt completely humiliated because she thought she had failed her
team and herself. Minshew also lost all
her entire life savings about $20, 000.
They can sued, or started all over again and she choose the latter.
Every single person except
for her two former partners left PYP Media to start The Muse in July 2011 and
in their first month, they had more people visit the site than in the history
of PYP. They build a much stronger
product, raced ahead with a clear sense of purpose. This situation that happened to Minshew shown
that the integrity and reliability was very important in order to become a
successful entrepreneur.
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