Friday, June 2, 2023

3 Entrepreneurs Who Turned Failure Into Success: What Was The Key?

When trying to venture out and become an entrepreneur, it starts with the illusion of succeeding and gradually achieving success; However, the road is full of circumstances and conditions that will probably prevent you from reaching that point, hidden possibilities of failure and much more in such a competitive and changing market place that we currently live in, but are you ready to face it? Ready for?

Failing at a project can be frustrating and discouraging, understanding that it is part of life and business can be hard to swallow, but at the same time, if we look at the most successful entrepreneurs, they will say that Having been part of the journey during World War II, British Prime Minister Winston Churchill also said an iconic phrase that should be kept in mind: “Failure leads to success without losing enthusiasm.”

This phrase refers directly to the persistence and persistence that one must have in a business, or to keep trying when things don’t go well, among the characteristics that are common to those who achieve success is that which has never Didn’t give up Arturo Elías Ayub talked about the importance of not getting discouraged on his social network.

“You’re going to have a thousand failures and a thousand downfalls, I can’t count the times I broke it starting and doing business. The fun is in learning from every failure.” learn from each fall, rise with more will And say, ‘I am going ahead’. Now, if you fall all the time and see that it doesn’t pull up, what you have to do is change occupations. But take advantage of falls so that they are a great learning, the more often you fall, the more it will help you to move forward”.

In this sense, we share three success stories of entrepreneurs who had to overcome the failure of their projects to later become examples of struggle and icons of the business world.

Larry Ellison

In 1977, along with two other partners, Larry Ellison founded Software Development Laboratories, a company dedicated to consulting and developing custom software, a few years later they became specialists in standardized databases and by 1982 renamed Oracle Systems Corporation,

The project was growing and in 1986 they entered the stock market to sell shares, but various errors in the calculation of the profits of those who had acquired stakes caused Oracle to be forced out. Double check your earnings report That resulted in several lawsuits, class actions, and problems with stock regulators.

Derived from these circumstances, the company found itself in need of laying off 400 employees and was one step away from bankruptcy, it experienced restructuring in the administrative part, in the midst of efforts to survive, they launched Oracle 7 in 1992, Which it was a success and it helped the company to rise from the ashes.

Sir frank williams

The founder of one of the most successful and prestigious teams in Formula 1, Frank Williams had to overcome a lot of adversity before becoming a successful owner and manager of his team.

He was not talented enough as a driver and decided to continue as a mechanic. His talent for building cars led him to found Frank Williams Racing Cars in 1967, investing money he earned as a Campbell Soup distributor.

Their cars competed in Formula 3 and Formula 2, moving up to Formula 1 for 1969; However, a year later, Piers Courage, driving his car, died at the Dutch Grand Prix, dealing a heavy blow to the modest team, which faced financial problems as the sport was becoming an increasingly popular activity. Expensive and complicated if you don’t have the financial backing and maintain ended up selling the team to a Canadian businessman,

Those were difficult years in which he had no job and his wife, at times, had to maintain the economic needs of their household, but he managed to reinvent himself and together with Patrick Head he founded the 1977 In founded Williams Grand Prix Engineering.

They understood how the Formula 1 market worked and secured sponsorships and business deals that gave them the economic stability they needed. In their history they have won a total of nine Constructors’ World Championships with 113 victories and seven Drivers’ Championships.

Henry Ford

He is considered one of the biggest businessmen in the United States, currently his name is still valid and a reference in the automotive industry, but all was not well and its consolidation cost him years of effort and frequent failures. paid off, became one Example of persistence and stability,

In 1899 he founded his first automobile company, where he designed the first gasoline-powered vehicle, the Quadricycle; However, there were many complaints about the poor quality of the material and its handling. The cars were too expensive to produce and didn’t sell fast enough to be a viable project, so they had to Shut down your company after a few years.

This was a severe blow, but it did not stop him, he founded the Ford Motor Company in 1913, where he designed and developed a large-scale production line capable of producing high-speed vehicles. He created the Model T, which came to represent half the vehicle fleet in the United States.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news


Please enter your comment!
Please enter your name here