Scaling Up Business Podcast

Pamela Kan is the President of Bishop-Wisecarver, a manufacturer in rotary motion products. Pamela is the second generation to lead the family business, which was founded 67 years ago. Today, Pamela speaks about her personal experience with developing strategic partners — what works, and what doesn’t work! Let’s first focus on the things that didn’t work. We often learn more from our failures than we do from our successes. Pamela tries to develop a culture of fail fast, but unfortunately with this particular example, it took a little longer to fail, and her company ended up burning some money because of it. Pamela partnered with a competitor in her industry to do a joint development on a product. Both companies were very well aligned on management and everything seemed to be going fine. Pamela already had a design for the product and even ordered the necessary parts to get this product on its way. But by the end of it all, the entire project ended up failing, and the reason why came down to a number of things