Reality Sets In

I vividly recall the day we launched FAVORIOT, buzzing with excitement and certainty. “This is it, Mazlan,” I said to myself, “This is the moment you’ve been preparing for your entire life.” Little did I anticipate that the road ahead would be anything but straightforward, resembling a maze of challenges.

In the initial phase, my optimism was unwavering. I had faith in our product, vision, and potential to transform the IoT landscape. However, reality soon hit hard. The first product we unveiled failed to connect with the market. “How could this happen?” I pondered. We had invested countless hours into its development, firmly believing in its promise. Yet, the market had different plans.

I made a fundamental misjudgment regarding our target demographic, realizing too late that we were aiming at the wrong audience. This error cost us invaluable time and resources. It was a humbling moment, stirring self-doubt within me: “Am I suited for this? Can I guide this company toward success?” Nevertheless, I persevered, rallying my team to shift our focus.

Refinement and Continuous Adaptation

We refined our product, targeting a different market segment. I was resolute in learning from my past mistakes. “Failure is not the end, Mazlan. It’s a lesson. Stand up and try again.” As we moved forward, rejections began to accumulate. Potential clients turned us down, proposals were overlooked, and sales remained elusive. Each “no” felt like a personal setback. “Why can’t they see the value in what we’re offering?” I would often express in frustration.

Despite the discouragement, quitting was never an option. Investor meetings became trials of endurance. Time after time, we faced rejection. Investors scrutinized our forecasts, market strategy, and even our execution skills. “What am I missing?” I would ask myself after each encounter. It was a harsh reminder that belief in our vision alone wasn’t enough; we needed to showcase it with tangible results.

One particularly tough rejection stands out. After months of discussions with a prospective investor, who we believed was on board, we were met with a decline. It felt like a heavy blow. “What now, Mazlan? How do we proceed from here?” I found myself at a crossroads, reevaluating the feasibility of our aspirations.

Navigating Self-Doubt

During these moments of uncertainty, I turned inward for strength. “Remember why you embarked on this journey,” I would tell myself. “It’s not solely about immediate success or external validation. It’s about your vision for a connected world and the impact you aim to achieve with IoT.” The entrepreneurial path is often idealized, yet the truth is far from glamorous. It demands endurance, patience, and relentless pursuit.

I made numerous mistakes — regarding the product, the target market, and our forecasts. Each miscalculation was painful but essential for growth. A significant misjudgment was our initial customer expectations. I overestimated the market's readiness and underestimated the competition. Our projections were overly optimistic, leading to a financial crunch. “How could I have misjudged this so severely?” I scolded myself.

Insights Gained from Failures

This experience taught me the critical importance of comprehensive market research and realistic projections. Yet, each failure also provided clarity. We learned to remain flexible and agile in our strategy. When one approach faltered, we devised another. I discovered that resilience is not about never falling but consistently rising again. “Mazlan, you are more robust than your setbacks. Each ‘no’ brings you closer to a ‘yes’. Keep pressing on.”

The entrepreneurial journey has also tested my belief — in myself, my team, and our vision. At times, the burden of doubt felt overwhelming. “Is this worth it? Should I abandon this dream and return to the safety of a conventional job?” Such thoughts haunted me during the darkest moments. Yet, in those instances, I found comfort in my past experiences. My career has been a tapestry of unexpected challenges and triumphs. From academia to corporate leadership, I have navigated and conquered numerous obstacles.

“You didn’t come this far only to stop now,” I reminded myself. Regardless of the difficulties, each step was part of a larger journey toward a more significant purpose. I began to perceive failures not as dead ends but as invaluable feedback. Each rejection and misstep became a lesson in disguise. “What can I learn from this? How can I improve?” These inquiries evolved into my guiding principles through the complexities of entrepreneurship.

Finding Strength to Move Forward

Building FAVORIOT has transcended being merely a business initiative; it has turned into a personal journey. I’ve unearthed strengths I never knew existed and recognized weaknesses that required attention. This journey has cultivated a resilience I never knew I possessed. “Mazlan, you are capable of more than you think. Keep pushing forward.”

The support of my team has been indispensable. Together, we’ve navigated the storms of uncertainty and disappointment. Their faith in our vision has been a steady source of encouragement. “We are in this together,” I frequently remind them. “Our victories and failures will be shared. We learn and evolve as a unit.”

Reflecting on the past seven years, I view a series of experiences — each symbolizing a lesson learned, a challenge faced, a dream pursued. The failures and poor decisions are not scars but badges of honor, representing the journey of an entrepreneur willing to dream big.