Entrepreneurs who succeeded after failure

 

            

 Entrepreneurs who succeeded after failure

  “Never let a stumble in the road be the end of the journey”

For the following 10 entrepreneurs, persistence was key to achieving great success, making them the inspirational businessmen that they are today. Let’s take a look…

 1.Bills Gates

Traf-O-Data system recorded traffic information and gave it to government authorities, civil engineers and others who needed it. This system ultimately failed. It’s failure ultimately gave Bill Gates and Paul Allen the experience and skills they needed to create one of the biggest software company in the world “MICROSOFT”. Presently Microsoft net worth as of January 06, 2023 is $1677.19B.

2.Steve Jobs:

A person who was fired by his own founded company. In 1985, less than 10 years after he founded Apple, Steve Jobs was fired from his position as the CEO of Apple. Apple was on the verge of bankruptcy and in the year 1997 Steve Jobs came up with a creative idea and saved the company, Rejoined Apple. Apple became the first Trillion Dollar company.

3.Frederick W. Smith

In 1971 after raising $91 million as a capital. Operations start in 1973.In his first 26 months in business he piled up $29 million in losses. Even after bringing $75 million as revenue in 1975 the company was still indebted.

The company barely earned a $98 million profit in 2009, down from $2 billion two years earlier. Posts a $1.6 billion profit on record-high sales in 2013.

4.Walt Disney

A company labeled as lacking creativity. Disney was, at one point, living on dog food and unable to pay his rent. Disney created Silly Symphonies in 1929 which featured Mickey Mouse’s friends, Minnie Mouse, Donald Duck, Goofy, and Pluto. He won 22 Oscars in total in 59 nominations. Snow White and the Seven Dwarfs became the most successful motion picture of 1938 and by May 1939 it crosses $6.5 million and won a total of eight Oscars, which makes it the most successful sound film made to that date.

5.Jeff Bezos

In the year 2000, Bezos invested $60 million dollars into Kozmo.com — a shampoo delivery service. That company didn’t last very long. Then, in 2012, Bezos lost $175 million through the purchase of LivingSocial.

Now one of the richest people on any continent, Bezos was the first person to obtain a net worth surpassing $150 billion in the last 30 years. His net worth is estimated around $201.6 billion as of July 19, 2021, according to the Forbes. So, Bezos is clearly doing something very right, but he’s made plenty of mistakes along the way.

6.Milton Hershey

Milton Hersey failed twice before he finally found success making caramel candy. After being fired from an apprenticeship with a printer, Hershey started three separate candy-related company but eventually all of them failed.

In his final attempt, Hershey started the Lancaster Caramel Company, and started watching its success. He believed in his vision for milk chocolate, so he eventually started the Hershey Company and became one of the most well-known names in the industry. The company’s net worth as of January 06, 2023 is $46.28B.

 

 

7.Lawrence Ellison

Oracle Ellison’s company has had many struggles. After Ellison dropped out of college ,he worked as a programmer for eight years, after that he co-founded the company with his former boss. But Oracle struggled for years before making it big.

 He resigned from Oracle’s CEO role after 37 years in 2014. Oracle corporation grew in part through steady acquisitions of software companies, Oracle got the cloud revenue with $9.3 billion for NetSuite in 2016.

8.Evan Williams

Before co-founding Twitter, Williams developed a podcasting platform called Odeo. But the platform didn’t take off, in part because Apple announced the podcast section of the iTunes.

Williams as co-founder, board member, and investor. In October 2008, Williams became CEO of Twitter, succeeding Jack Dorsey, who became chairman of the board. His net worth is estimated at US$2.1 billion.

 

9.Reid Hoffman

Before co-founding LinkedIn and investing in huge companies like PayPal and Airbnb, Hoffman created SocialNet, an online dating and social networking site that was a failure.

On the Forbes 2021 list of the world’s billionaires, Hoffman was ranked #1580 with a net worth of US$2.4 billion.

10.Peter Thiel

Before starting PayPal and investing in huge company like Facebook, Thiel severe losses. His early hedge fund, Clarium Capital, lost 90 percent of its $7 billion assets on the stock market, currencies and oil prices. As of May 2022, Thiel had an estimated net worth of $7.19 billion.