In our continuing series with the New York Times, we look at what happens when you take a chance -- and something goes wrong.
It takes a certain amount of fearlessness to be an entrepreneur who shakes things up.
That’s why we’ve long admired the risk-taker Lysanne Tusar, whose business we profiled in this video back in 2011. Seven years ago, the Vancouver native decided to up and move to Hong Kong, to start — of all things! — a winery in a city that has no vineyards. Using flash-flozen grapes shipped from fertile areas of the world, her 8th Estate winery has since produced several vintages, including some that have won international wine competitions.
But the flip side of taking chances and being innovative is that something can go terribly wrong. For Tusar, that happened earlier this year, when one of her landlords decided to double the rent — not a complete shock in an expensive city, but an unusual problem for a winery to have. Read the full story in today’s New York Times or on our site here.
Tusar isn’t sure what will happen next. She’s reviewing options, talking to people she trusts and figuring out her next move. She’s down but not out. And she still has an unshakeable faith in her business.
We’ll be watching to see what she does next. Stories about fearless entrepreneurs are plenty, particularly when they’re an unquestionable success. But what happens when you’re still proving yourself and your innovative business — and a big setback occurs?
We’re not worried about Tusar. But we are interested to hear how a risk-taker like herself handles the challenges that come with this particular outside-the-box style of entrepreneurship. We’ll update the story in coming months.
Leave a comment below on how you handled a setback, downturn or other challenge to your business.
Posted: June 25, 2014