5 Giant Entrepreneurial Figures Who Failed Before Becoming Successful01 May 2018 3568
Failure is the stepping stone to success, and without it, there is no achievement. To succeed in life, a person should treat failure as a lesson and move past the mistakes and setbacks to continue to greatness. The successful figures that we see today had undergone a spate of failures in the past. They failed school exams, dropped out of the college and washed out on major life goals at every age.
However, they didn’t succumb to the face of early failure, rather learned how to handle it and grow from their experiences. From Bill Gates to Jeff Bezos, here are the failure stories of world’s top entrepreneurs:
With a net worth of $112 billion, Jeff Bezos has come a long way since the days he used to work as a McDonald’s fry cook. He turned down jobs at Intel and Bell Labs to start a small business that failed within two years. Disappointed, Bezos job-hopped within the finance industry but left it too to start Cadabra (now known as Amazon). For many years, he made adjustments and took big risks to establish his company, and today it is world’s largest online retailer.
The founder of Microsoft Corporation, Bill Gates, along with his friends, once founded Traf-O-Data that was concerned with reading the raw data from roadway traffic counters and creating reports for traffic engineers. Their concept gained moderate success for a period but ultimately failed. However, this experience helped him in the creation of Microsoft a few years later.
Widely recognized as one of the pioneers of the microcomputer revolution of the 1970s and 1980s, and co-founder of Apple Inc., Steve Jobs tasted failure when he produced two products, ‘Apple I’ and ‘Apple Lisa.’ His company lost millions of dollars while developing them and it ultimately led to Jobs being sacked from Apple in the mid-eighties. He went on to start another company, NeXT that failed too. Fortunately, he found his way back to the company in 1997 and helped it made one of the world’s largest information technology companies and mobile phone manufacturers.
Larry Ellison co-founded Oracle Corporation in 1977 with his former Boss Bob Miner. Till 1980, the company didn’t experience much success, and that's why he had to mortgage his home to secure a line of credit. He went on to develop a business software that dominated the market in the 1980s, but soon, his company experienced another disaster. To put the company’s finances back, he fired almost everyone except the salespeople who helped him in shipping the products. By 1995, Oracle earned $2.5 billion in revenue, and now it stands as one of the world’s largest software making companies.
One of the most well-known entrepreneurs in the world, Richard Branson struggled with dyslexia in his early days and dropped out of high school due to his constant poor academic performance. At the age of 16, he started his first venture, the ‘Student Magazine’ that almost sent him behind bars for publishing remedies on venereal diseases. He then started a Virgin record shop and was found guilty of tax evasion. It ultimately led him to spend a night in prison, and the trend of failures continued for many years. His Virgin Group now holds over an empire of more than 400 companies.
These business magnates took great risks in their lives and heeded lessons from their failures to reach where they are today. Being a student, you must look for inspiration in these stories to never give up in life. But if your academic load is stressing you out and blocking your path to success, then you can seek writing assistance from our entrepreneurship assignment help experts.
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