Today’s Show Recap

Thanks for listening to Makin’ It. On this week’s episode, we talk about Gawker founder, Nick Denton, filing for bankruptcy, Facebook changing its Newsfeed again, the Makin’ It Success Stories this week features successful people who have failed and, finally, on Makin’ It or Breakin’ It, whether it’s better to have B2B business or a B2C business. Let us know what you think of the show in the comments section at the bottom of the page!

Everyone hold on to your hats because it’s time to start the show!

Tommy, Todd and Brittany start the show talking about how Gawker founder, Nick Denton, had to file personal bankruptcy because of Gawker being sued. Recently, a jury awarded Hulk Hogan $140 million against Gawker and its founders because they released a sex tape of Hogan with his friend’s wife. Denton was personally responsible for $10 million. Gawker is essentially a blog, and it brings private information, largely about celebrities, out to the public. It has been around since 2006 and is valued around $250 million. But are Gawker’s First Amendment rights being violated, or do people have a right to privacy? A jury didn’t think Gawker’s rights were being violated and awarded Hogan the money. Hogan’s lawsuit isn’t their first; however, it was enough to cause Denton to file for bankruptcy. Moreover, it is still unknown how Gawker got the tape in the first place. What do you think of the verdict against Gawker? Do you think Denton should be on the hook for the money? Do you think celebrities have a right to privacy? Let us know in the comments section.

Next up, the gang discusses Facebook and how it has changed its Newsfeed again. While no one really knows the algorithm Facebook uses to figure out the things people will find relevant in their feeds, they are aware that is the way to get advertisers to spend their dollars. Facebook is one of the most powerful social media tools in the world, and their value is in the data they have on their members in terms of advertising so they know exactly what you want to see. What do you think of Facebook selling your information to advertisers so they can control your Newsfeed? Let us know in the comments section.

OMG Fact of the Week:
Hawaii moves toward Japan 4 inches every year.

In the next segment of the show, Tommy, Todd and Brittany do another installation in the Makin’ It Success Story Profile Series. However, this week, they discuss eight successful people who didn’t let failure stop them.

The first person they look at is Michael Jordan who not only was cut from his sophomore high school basketball team, but has missed more than 9,000 shots, lost 300 games, and on 26 occasions was entrusted to the take the winning shot for the game and missed. Now, he is considered one of the most successful basketball players of all time.

Next up, Steve Jobs. Despite being fired from his company, Apple, and launching an unsuccessful computer elsewhere, he returned to Apple and led the company to be the most profitable in the United States.

In 1849, Elizabeth Blackwell was rejected by 29 medical schools before finally being admitted. And, despite no doctors wanting to work with her because she was a woman, Blackwell graduated and went on to be the first woman with a medical degree.

Arianna Huffington was rejected by 36 publishers before the first time she got published. She ended up selling “The Huffington Post” to a publishing business for hundreds of millions of dollars.

Next is Bill Gates who is now one of the wealthiest people in the world and not without his share of failure. Early in Gates’ career, he tried to launch a company that was designed to watch traffic tapes, which was largely unsuccessful. Then, he went on to develop Windows®.

Back to the sports side, where winning is the main way to have profit, Yankees owner George Steinbrenner was no exception to failure. While first owning a team that completely failed, Steinbrenner, while controversial, went on to take the Yankees to be extremely successful with six World Series entries and 26 World Championships.

Next up is Walt Disney who had been told he lacked creativity and his first company was considered a bust. However, he went on to create Mickey Mouse and the rest was history. Disney is now considered one of the most creative geniuses of the 20th century.

Finally, Milton Hershey was not without his share of failures when his candy company focused solely on caramels. When he realized chocolate was what people wanted, everything turned around.

So what do all of these people have in common that makes them successes despite their failures? The first thing was their perspectives. They didn’t deem failure as something to be humiliated by so they wouldn’t try again. They saw failure as a means to make them sharper and stronger and be able to deliver what their customers wanted. Additionally, when people criticized them, such as telling them they weren’t creative, they didn’t listen. It is generally a good idea to not listen when someone tells you that you are really bad at something because that person is probably dead wrong and you are excellent at it. These successful people were always paying attention and digging deeper into whatever their goal, whether it is creating animated movies or advancing the personal computer, always looking for what the people want. And, most important, these successes never gave up. What do you think of these successful people who originally failed? How do you think they obtained their success? Let us know in the comments section.

Finally, Tommy, Todd and Brittany end up the show with the Makin’ It or Breakin’ It segment. This week, they talk about whether it’s better to have a B2B business or a B2C business. A B2B business is a business that sells directly to businesses, while a B2C business sells directly to consumers. A B2B business tends to allow people to feel more like employees of other businesses where you can be fired. However, while the sales can take a long time to process, they can yield large returns. A B2C business is more about the psychological aspect of business by trying to find what your market wants and delivering it to them. Sales can be quick and impulsive. Which do you think is better: B2B or B2C? Let us know in the comments section.

Thanks for tuning in to Makin’ It. Let us know what you think of the show and if you have questions about your business, send us an email at info@makinitnow.com or leave us a comment below. We love to hear from our listeners and we read comments on the air. We just might choose yours for next week’s show (so don’t forget to tune in!).

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Additional Resources for Entrepreneurs:

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