6 Stories of Entrepreneurs Who Overcame Failure
In life almost everybody has encountered failure at one point or another; be it school, college, work or even in business. What matters the most is how one reacts and overcomes the setback of failure and gets right back up and keeps going. Most people tend to look at failure as a setback and get disheartened, give up and go into isolation. However, the winners are the ones who never give up and keep hustling till they win and achieve greatness.
In this article, I have written about six famous and well-known entrepreneurs who the entire world knows. When they first began their careers they failed quite a few times but they kept getting right back up to eventually succeed.
Ariana Huffington got rejected 36 times by publishers till she became the most recognizable online publisher of our time. Huffington had written a book which she tried endlessly to get published. Each publisher she went to gave her a hard time with negative reviews and told her she will never be able to get it published. What set her apart was that she never gave up and has now grown her publishing company to a global empire.
Bill Gates is known as the owner and founder of Microsoft and has also been nominated for several years as the richest man in this planet till the owner of Zara took over his throne this year. He did not get this title overnight, he also went through several failures and hardships in his life.
Bill Gates first started his entrepreneurial journey by starting a company called Traf- O – Data that used to process and analyze data from traffic tapes. Him and his business partner, Paul Allen, tried to sell this idea to several companies but the product never worked. In fact, it was a complete disaster and became a laughing stock in the tech world.
This failure never held Bill Gates back and he started to explore different opportunities. After a few years, he created his first Microsoft product and the rest we all know how he grew his tech empire.
Before George made a name for himself by buying the New York Yankees he used to own a small basketball team called the Cleveland Pipers in the early 1960s. In 1962, the entire franchise of the Pipers went bankrupt because of his management skills and the direction he was trying to take his team.
In 1970, George took over the New York Yankees team. The team struggled and constantly lost throughout the 1980s and 1990s. Eventually, after all the failure, criticism and negative reviews, George overcame all that and lead the NY Yankees team to Six World Series wins from 1996 to 2003 and now the Yankees have become one of the most profitable Major League Baseball teams in the US.
We all know Walt Disney’s story when he first started working in a newspaper company. He was fired because his boss said he lacked creativity. This did not stop him and he opened an animation company called Laugh O Gram films. He raised $15,000 for the company but it eventually failed and he had to close it down.
Disney was desperate after this big loss and decided to try his luck in Hollywood where he faced, even more, criticism and failure. After some time he finally proved himself once his first classic film started to gain popularity.
Steve Jobs was a great entrepreneur and the pioneer of innovation and design of the 21st century. However, he to had some setbacks at the beginning of his career. He was the founder of Apple computers in his 20s but when he turned 30, the board of directors of Apple decided to fire him from the company.
After this, Jobs did not give up and created another company called NeXT, which was eventually bought off by Apple. He then rejoined Apple, proved himself and his greatness to everyone by reinventing Apple’s image and brand and grew Apple to the biggest computer and smartphone company this world has seen.
Everyone knows Hershey’s chocolate but when he first started his candy company nobody knew who he was. Hershey had started three candy related ventures and he watched them all fail miserably.
He gave it one more shot and started Lancaster Caramel Company where his main focus was to create milk chocolate and target the masses. This gave him a huge boost and his business was a success. He then founded Hershey Company and became one of the most well-known names in the chocolate industry.
These stories should definitely be an inspiration and motivation for you all when you are experiencing failure. The entrepreneurs listed above are no different than you and I. They just had the determination, ambition and will power to succeed and never took failure as an option. They never even thought about quitting.
If you learn from your mistakes, reflect and accept your failure you will be able to move on and focus on the next venture that could eventually become a success.
For some more inspiration check out my blog post Why Do We Fall.