You’ve probably heard it before: 90% of startups fail. This can be a little discouraging if you’re an entrepreneur trying to pursue your dreams as best you can.
However, we have a few heartwarming success stories that’ll help put this stat into perspective. Below we’ve highlighted three ‘failed entrepreneurs’ that demonstrate with hard graft, tenacity, and the right idea- anything’s possible.
So, why shouldn’t you enjoy the same success? With that in mind, let’s dive in!
1. Bill Gates
One of Bill Gates’ first business ventures was a company that utilized the black cables that stretch across the road to measure traffic. This was the principle idea behind his company Traf-O-Data.
Gates presented a system that recorded info about traffic which he and his colleagues reported to civil engineers and local government authorities.
Sadly, this company failed. However, as we all know this didn’t stop him from transforming him into the tycoon, we all know and love today.
2. Thomas Edison
Thomas Edison is the man famous for creating the lightbulb. However, at school, he was made to feel as though he was ‘too stupid to learn anything.’ Consequently, he was expelled from school due to being ‘unteachable.’
Luckily for him, Edison’s mother had faith in him and his abilities and encouraged him to persevere with his learning. Unfortunately, things didn’t get much better for Edison as he embarked upon his career.
Thomas was fired from his first few jobs because he wasn’t productive enough. He also had numerous attempts at inventing the light bulb all of which were failures – until he came across the winning formula!
In addition to the light bulb, he created plenty of other things, and by the end of his life, he owned tons of patents, including the patent for movie projectors. All in all, he became a fabulous success story!
3. Walt Disney
Not many people know this, but Walt Disney’s first production company failed due to an alleged ‘lack of creativity’.
He lived in a pretty sorry state for a while. Reports say he was unable to pay his rent and was living off dog food to get by!
Additionally, his first character ‘Oswald the rabbit’ was stolen by one of his colleagues. Then Mickey Mouse was rejected by MGM- they reasoned all women were scared of mice and therefore they thought the character wouldn’t catch on!
Despite all these failings Disney managed to prevail, he learned from his mistakes and turned his ideas and creativity into the international empire that it is today.
Was This Article About Failed Entrepreneurs Useful?
If this feature about ‘failed entrepreneurs’ inspired you, then we’re confident you’ll love the other posts published on our blog.
Over there we discuss everything from why mistakes benefit you as a business owner to tips on starting your own business (while working a fulltime job). Enjoy!
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