Introduction
Very often when we look at the greatest entrepreneurs we can think of, we see them as infallible, and perfect. However, the reality is that 90% behind them have put at least 1 company out of business before great success. In this post, we will talk about the importance of failure for entrepreneurs. We’ll also highlight some famous figures who experienced failure either before or after their success.
All of us are subject to failure, always.
Walt Disney.
He is one of the most famous entrepreneurs and creative geniuses in history, known of course for his most important business, Disney. However, not many people know that the young Walt Disney before this incredible success tried the same kind of business but with a different approach. He began to create scenes
animated scenes called “Laugh-O-Gram” and began to use them primarily for advertising.
People liked these micro cartoons, and Walt decided to try to go the extra mile…
He aimed to animate the most famous fairy tales known at the time, certainly no small goal for a boy in his 20s. Unfortunately, Disney overworked himself and drove the venture to bankruptcy before finishing his first cartoon. His hope for external funding collapsed when the $11,000 he had been promised did not arrive “Laugh-O-Gram” was officially bankrupt.
Henry Ford.
Known as one of the greatest businessmen in America and around the world, Henry Ford incredibly had great failures. One of the most famous occurred when early in his career, drained all the money his investors without even being able to produce A SINGLE CAR!
It’s incredible to think that this failure came from the man who later brought cars to almost every home…
In the end, he still managed to produce a car and received $60,000 in investment, do you think the worst is over now? Well, you are wrong.
He also managed to bankrupt his Auto Company in Detroit…
Chris Gardner.
Probably simply reading the name won’t come to mind, but I’m sure all of you have 100% seen one of the most famous movies ever inspired by this very man’s life: “The Pursuit Of Happiness”
That’s right, what you see in the movie is all based on a true story. This man had to live as a homeless man with a dependent child, without a place to sleep or something to eat. You could consider him a failure…
Nevertheless, he decided never to give up, driven also by a great love for his son, and, to this day, Chris has a net worth of about 60 million dollars. He may be the poorest one on this list, but his story has nothing to envy from other giants.
J.K Rowling.
One of the most famous writers in the world, yet her story is punctuated by constant failures and difficulties.
After one of the greatest sorrows of her life, namely the death of her mother from multiple sclerosis, Rowling had a baby girl from a marriage that FAILED. She found herself without a job and with a dependent daughter, surviving mostly on welfare benefits.
Despite all these difficulties she decided not to give up and continue to pursue her dream of becoming a writer. After facing numerous rejections, she finally got the chance she longed for.
To this day, J.K Rowling has an estate of about $1 BILLION.
Steve Jobs.
Although his first company, namely Apple, was incredibly successful right from the start, we cannot forget that Steve Jobs was fired from his own company. And if that isn’t a failure…
Despite this, however, he could not sit idly by and still decided to get to work and continue to pursue the dream he so desired with a new company that was always interested in the world of Computers, Next. While this new company wasn’t a major success, Jobs eventually returned to Apple as CEO to restore the company, which was close to collapse.
If we do not consider this a success…
(If you want to read more about it here)
Thomas Edison.
The man because of whom I am here writing on this computer. His impact on our world today and our way of life is unequivocal. His most important invention is surely that of the light bulb. But do you think he succeeded on his first try?
You are wrong.
Thomas Edison tried hundreds and hundreds of times before he succeeded in achieving what we know today as the light bulb. He didn’t view his failures as setbacks but as attempts.
It is because of these attempts and this tenacity that he is still remembered today as one of the inventors of some of the most important technologies in our world.
Reflections
These entrepreneurs show us that failures aren’t tragedies but chances to learn and improve. Don’t be discouraged if things don’t go as planned. The road to great achievements is rarely straightforward.
To achieve great goals, there is a need for great failures.
In the work of the entrepreneur, the role of failure is crucial. If you refuse to accept and learn from it, you are doomed to fail. You can’t hope to succeed without facing challenges similar to those mentioned above. Even in my very short career as a young entrepreneur I had several failures before “PERSONA” (which did not always go so well but rather). I ran at least three other businesses into the ground, but they taught me valuable lessons and, in a way, were enjoyable.
I hope I have been able to get across the true importance of failure for entrepreneurs.
For anyone reading this, please don’t give up. Use this failure to get to the greatest success of your life.