To Entrepreneurs: Clyde Tuggle on 10 Ways to Fail
Clyde Tuggle, co-founder of Pine Island Capital Partners, Senior Vice President, Director for Public Relations and Communications at The Coca-Cola Company (2008-2017), spoke at RANEPA Summer Campus.
Clyde Tuggle has already shared his experience with the participants of the RANEPA Summer Campus in recent years via video link and held a masterclass this year. Over 30 years with The Coca Cola Company, Clyde Tuggle has become Senior Vice President in Public Relations and Communications and moved to Pine Island Capital Partners, a startup company, last year.
Clyde Tuggle began his speech with warm greetings to the participants, organizers and all of his colleagues, he thanked for the invitation to and the organization of the RANEPA Summer Campus. Then the guest spoke about his experience with The Coca-Cola Company and passed to the speech topic: 10 Ways for an Entrepreneur to Fail. So, an entrepreneur should never cease undertake risky projects because it is impossible to earn big money without risk. Being inflexible is most often a drawback for an entrepreneur.
"Failure" is guaranteed where an entrepreneur ignores the reality due to misconceptions about his/her being right in everything. Nobody is able to make the correct decisions only. Self-insulation is a deadlock for an entrepreneur because he/she fails to receive all information in this case. A successful entrepreneur should act very sensitively and without breaking the law.
Saving time on thinking over the decisions is a very bad idea: a top-manager’s and business owner’s measure of responsibility is high, and an erroneous decision can be expensive for a company. Clyde Tuggle noted today that haste in decision-making is typical of many young businessmen. The belief that experts and consultants will make the strategic planning instead of you is one of the reasons for an entrepreneur’s failures.
Commitment to bureaucratic procedures leads to failure due to the feedback blocking. You should not send indistinct and mixed messages and communications to your audience and employees. This produces an adverse affect on their willingness to follow the main goal. In addition, an entrepreneur should not be pessimistic; he/she should look at things realistically and with optimism. Pessimism locks the pursuit of new projects and the confidence in success an entrepreneur needs.
Clyde Tuggle devoted a large part of the masterclass to communicating with RANEPA Summer Campus participants. The students proved to have a lot of questions to the speaker: from his favorite book, committed mistakes and lessons from them to the advice to young social entrepreneurs. The questions concerned the difficulties encountered by the expert when joining the startup, Coca-Cola taste in different countries, and many other topics.
"Remain passionate for life and work. You should be passionate about your job. Otherwise you will never be able to do it really well,” advised Clyde Tuggle to RANEPA Summer Campus participants.
The organizers of RANEPA Summer Campus include RANEPA, the Government of Tatarstan, and the Association of Innovative Regions of Russia, with the support of ACIG Group of Companies.
For media accreditation, please call: +7 (903) 788-38-02 Dmitry Sokolov, press secretary, RANEPA.
General partner: The Сoca-Cola Company.
Strategic information partner: TASS. Official information partner: Interfax. Main information partner: Polit.Ru. Campus newspaper: Parlamentskaya Gazeta. Main regional information partner: Realnoye Vremya. Regional information partner: Expert Tatarstan. Campus TV: Tatarstan State TV and Radio Company.
Partners of the Summer Campus: Gazeta.ru, Tatar-inform news agency, Strategia magazine, RBC Tatarstan, TatCenter.ru, Kazan Vedomosti, ProKazan.ru, KazanFirst.ru.