Famous Business Failures of Successful Entrepreneurs

[CHASHA FARMING]

1. Henry Ford

Henry Ford failed twice in business before he finally went on to build the Ford Motor Company; and became one of the richest men in the world. He has this to say about his business failures:

"Failure is just a resting place. It is an opportunity to begin again more intelligently." – Henry Ford
"If I lose a billion dollars, I will have it back in less than five years." – Henry Ford

2. Thomas Edison

Thomas Edison went through a lot in life as an entrepreneur but his most spectacular business failure was his famous light bulb invention. He failed 10,000 times trying to invent the light bulb and after the 10,000[SUP]th[/SUP] time; he succeed. Today, his company General Electric is one of the most powerful companies in the world. Thomas Edison has this to say about his business failures:

"I have not failed. I have just found 10,000 ways that won't work." – Thomas Edison
"Many of life's failures are people who did not realize how close they were to success when they gave up." – Thomas Edison

3. Robert Kiyosaki

Robert Kiyosaki in his best selling book "Rich Dad's Before You Quit Your Job" explained how he built a successful business (Nylon and Velcro Wallet Company) from scratch and lost this business due to incompetence. With experience from the failure of the Nylon and Velcro wallet company; he went on to build "The Rich Dad Company." This is what he has to say about his business failure.

"There are no mistakes in life, just learning opportunities." – Robert Kiyosaki
Rich Dad's Before You Quit Your Job: 10 Real-Life Lessons Every Entrepreneur Should Know About Building a Multimillion-Dollar Business

4. Colonel Harland Sanders

Colonel Sanders started out as an entrepreneur at the age of 66; when he developed a "Chicken recipe" business idea. He took this business idea to different restaurants and he was turned down over a 1,000 times. These rejections formed the foundation on which Kentucky Fried Chicken was built and this is what Colonel Harland Sanders has to say about his initial failures.

"I made a resolve then that I was going to amount to something if I could. And no hours, nor amount of labour, nor amount of money would deter me from giving the best that there was in me. And I have done that ever since, and I win by it. I know." – Colonel Harland Sanders
5. J. K. Rowling

Harry Potter series is one of the best selling books in the world but what most people will never know is that the author "J. K. Rowling" was turned down several times by publishers. Instead of being deterred; she went on to become a billionaire author and this is what she has to say about her initial failures.

"What's the worst that could happen? Everyone turned me down; big deal." – J. K. Rowling
"Never be ashamed! There's some who will hold it against you, but they are not worth bothering with." – J. K. Rowling

6. Martha Stewart

Martha Stewart successfully built her company "Martha Stewart Living OmniMedia" from scratch and became a billionaire. But she made a mistake (insider trading) that negatively affected her reputation and landed her in jail. Being an entrepreneur with guts; she refused to be cowed by her mistakes and she bounced back to fortune and fame. This is what she has to say about her mistake and resulting failure.

"I know I have a very tough five months ahead of me, but I understand, too, that I will get through those months knowing that I have the ability to return to my productive and normal life, my interesting work and future business opportunities." – Martha Stewart
"My new motto is: When you're through changing, you're through." – Martha Stewart

7. Larry Ellison

Larry Ellison dropped out of college twice; and bounced from job to job without a direction. His adopted father told him that he would not amount to anything in life. But Larry Ellison started Oracle from scratch and went on to become one of the richest drop out billionaires in the world and this is what he has to say about it.

"The most important aspect of my personality as far as determining my success goes; has been my questioning conventional wisdom, doubting experts and questioning authority. While that can be painful in your relationships with your parents and teachers, it's enormously useful in life." – Larry Ellison
"I have had all the disadvantages required for success." – Larry Ellison

8. Sir Philip Green

Sir Philip Green is a British billionaire and owner of one of the world's largest retailing chain but what most people will never know is that Sir Philip Green went through four business failures before making his first million at the age of 33.

9. Donald Trump

Donald Trump is a savvy real estate billionaire that has gone through bankruptcy; not one but twice. He once had a personal debt of $1billion and corporate debt of $9billion but he courageously pulled himself out of the mess and this is what he has to say about his business failures.

"Anyone who thinks my story is anywhere near over is sadly mistaken." – Donald Trump
"Sometimes by losing a battle, you will find a new way to win the war." – Donald Trump
"I was relentless even in the face of total lack of encouragement because much more often than you think; sheer persistence is the difference between success and failure." – Donald Trump

10. Richard Branson

Richard Branson is one of the few entrepreneurs that inspire me the most. He has gone through thick and thin; and has been on the verge of business failure on countless occasions. His first business (student magazine) failed despite showing strong potentials.

Richard Branson has also painfully shut down or sold some businesses just to survive; but despite all, he still emerged stronger and more successful. You can read about his business experience, failures and successes in his best selling book "Losing My Virginity: How I've Survived, Had Fun, and Made a Fortune Doing Business My Way."

 

[CHASHA FARMING]

Nimeipenda sana hiyo namba mbili Thomas Edson, kwa kweli jamaa hakukata tamaa kabisa, huku bongo mtu akishindwa mara moja ndo basi

 

[Entrepreneur]

Nimeipenda sana hiyo namba mbili Thomas Edson, kwa kweli jamaa hakukata tamaa kabisa, huku bongo mtu akishindwa mara moja ndo basi

Mimi hiyo quotation ya pili imenikumbusha mbali sana kipindi nipo darasani, kwani kuna mwalimu wangu alipenda sana kuitumia mbele yangu.
Kimsing Quotation zote zinafundisha, zinatia moyo na zinaongeza ari ya mapambano kwenye uwanja wa kibiashara. Tatizo leu wabongo, tunaona kama business failure ni kama mkosi hivi au ni mapungufu ya mtu, kumbe ni sehemu ya mafunzo na njia ya mafanikio.
Kila la heri kwa wote wanaofanya na kushindwa. Waendelee na mwendo huo huo, wasikate tamaa kwani mafanikio yao yapo karibu sana. Go get em

 

[Ambitious]

Thank you for this delicious food for my brain.. inspiring stuffs.

 

[MIUNDOMBINU]

mkuu, nimeipenda sana hii.asante

 

[King Kong III]

Mbona qoutes za riz1 haujaweka?

 

[CHASHA FARMING]

Mbona qoutes za riz1 haujaweka?

u

Mkuu hatuwezi endelea kwa mizaha, na si razima uchangie kama huna cha kuchangia ni vizuri kukaa kimya na vilevile hili si jukwaa la siasa na inashangaza Watanzania kila kitu tunaingiza siasa,

Mkuu hatutaweza kusongo mbele kwa siasa, na muda wa siasa tufanye siasa na muda wa kufanya mambo ya muhimu kwa Taifa tufanye hivyo,

Mimi hii nilileta hapa iweze kuwasaidia members sijaleta hapa kwa ajili ya politic

 

[The Boss]

thanx..
wait for my story soon...

 

[Huihui2]

Nends kakusanye na success story za wamiliki wa maghorofa wa Kariakoo, utashangaa hasa wale wanaotoka Makete

 

[CHASHA FARMING]

Nends kakusanye na success story za wamiliki wa maghorofa wa Kariakoo, utashangaa hasa wale wanaotoka Makete

Watanzania utajiri wao ni wa utata mtupu, na nivigumu kukupa story za mafanikio make wengine ndo hivyo walienda kwa waganga

 

[CHASHA FARMING]

Nends kakusanye na success story za wamiliki wa maghorofa wa Kariakoo, utashangaa hasa wale wanaotoka Makete

,
Mkuu hao hapo juu si kwamba ni mtu alienda kukusanya bali wameandika vitabu vyao ndo vina hayo yote, na watu waengi sana waliofanikiwa huko majuu huandika vitabu ili kuwasaidia na wengine

Hapa bongo nako inatakiwa nyie wajasiriamali ndo muandike story za mafanikio ili iwe soma kwa vizazi vilivyopo na vijavyo,

Mtu kama HENRY FORD alisha kufa kama sikosei ila bado story zake za mafanikio zitaendelea kutumiwa na vizazi vya sasa na vijavyo

 

[sanjo]

Thanks for compiling these inspiring quotations from people/entreprenuers who never believe in failures. The story of Donald Trump is so relevant for everyone of us that ups and downs are part and parcel of our journey towards success. We must not loose focus, determination and thirst of achieving of set targets regardless of prevailing environments.

 

[King Kong III]

u

Mkuu hatuwezi endelea kwa mizaha, na si razima uchangie kama huna cha kuchangia ni vizuri kukaa kimya na vilevile hili si jukwaa la siasa na inashangaza Watanzania kila kitu tunaingiza siasa,

Mkuu hatutaweza kusongo mbele kwa siasa, na muda wa siasa tufanye siasa na muda wa kufanya mambo ya muhimu kwa Taifa tufanye hivyo,

Mimi hii nilileta hapa iweze kuwasaidia members sijaleta hapa kwa ajili ya politic

Aiseee kweli we komandoo kilaza swali jepesi,majibu kibao nje ya mada,wadau tunaitaji qoutes zake ni muhimu kwa sababu amefanikiwa na kua billionea ndani ya mwaka m1 sasa hauoni itatusaidia wanajamvi? Wewe ndio unaleta siasa,utaishia hvyo hvyo kukalia politiki.

 

[King Kong III]

Nends kakusanye na success story za wamiliki wa maghorofa wa Kariakoo, utashangaa hasa wale wanaotoka Makete

Hakawii kukuambia ni siasa,sisi tupo interested na watu wa kwetu coz mazingira yao na sisi ni sawa hao kina Wallen Baffet na kina Bill gates qoutes zao hazitotusaidia,KOMANDOO acha politiki.

 

[Idimi]

Edson kiboko.
Inahitaji akili ya kiuwendawazimu kujaribu kitu na kufeli mara 10,000 katika mazingira ya leo!

 

[Nxt Millionaire]

Edson kiboko.
Inahitaji akili ya kiuwendawazimu kujaribu kitu na kufeli mara 10,000 katika mazingira ya leo!

Yaah Thomas Edson alikuwa mkali sana, ni mfano mzuri sana wa kutokata tamaa, kuna kitu alikuwa anakiona, PICHA AKILINI, ambayo hakuna mtu mwingine alikuwa anaiona ni sawa na Steve Jobs wa Aple Computer na falsa yake ya "Computer as simple to use as toaster".

Watu woote waliofanikiwa hakukubali kukatishwa tamaa na mtu awaye yote au mazingira au kushindwa mara kadhaa, waling'ang'ania kile walichokuwa wanakiona akilini mwao VISION au MAONO, Hii ndio msukumo mkubwa wa mafanikio yao.

Unapokuwa na MAONO au VISION ya jambo fulani unakuwa na picha halisi kichwani mwako, hivyo kushindwa kunageuka kuwa njia ya kujifunza. Maono yoyote lazima yakumbane na vikwazo tena vikubwa, lakini kama ni halisia ndani ya mtu, haijalishi vikwazo gani vitaibuka havitakuwa na uwezo wa kuua MAONO/VISION ya mtu isipokuwa mtu mwenyewe.

Wengi tunaosema tumeshindwa ni kwasababu twakosa hii kitu MAONO/VISION, na hakika si kama tunakuwa tumeshindwa bali tumeacha kujaribu, tukumbuke Quitters never win.

Asante sana Komandoo kwa kutuletea nukuu hizi.

 

[CHASHA FARMING]

Edson kiboko.
Inahitaji akili ya kiuwendawazimu kujaribu kitu na kufeli mara 10,000 katika mazingira ya leo!

Mkuu si akili za kiwenda wazimu, ni kuwa na malengo tu, na mkuu ukijaribu kusoma story za wavumbuzi mbalimbali wapo walio jitolea kufa ila wakiamni watakaofuata wataendeleze walipo ishia,

Ni kweli ni vigumu sana katika mazingira ya kawaid make mtu akishindwa mara moja ndo basi

 

[Mopalmo]

Asante sana mkuu,imenielimisha sana

 

[Retired Member]

I have been selling since when i was 10-ish and its just recently, money has started to come in as i have started to put smartness into the whole process;

Also, recommend that you read: The Richest Man in Babylon - by George S. Clason, kwa watanzania wenzangu; it will open your eyes on building up wealth, maana watu wengine just because ana biashara nzuri anataka kuvaa kama vile amefika mbinguni; :juggle:

 

[dav22]

very nyc inspirational story.....