Connect with us

Entrepreneur Stories

Inspiring Lessons From Famous Failures

Smruthi Kishore

Published

on

Inspiring Lessons From Famous Failures,Startup Stories,Startup News India,Inspiring Startup Story,Lessons From Famous Failures,Famous Failures Lessons,Famous Failures Stories,Inspirational Lessons From Biggest Failures

The names are known, the faces are familiar and their stories are inspirational. However, while we know who they are now, we ignore the failures they went through to get to where they are today. From Oprah Winfrey to Henry Ford, all these greats went through struggles to get to where they are now. Here is looking at the struggles the people who changed the world went through early on in their life.

1. Oprah Winfrey 

Before Oprah became the first Black female billionaire, she led a really hard life. Her childhood was filled with struggles and heartache. Born to a working class family (her mother was a daily wage worker and her father was a construction worker,) Oprah not only lived in poverty, but was also abused at the age of 9 and 13. To make matters worse, she ended up with an unfortunate pregnancy at the age of 14. With her childhood bieng anything but glamorous, Oprah fought hard and long to get to where she is right now. From getting fired for being unfit for television to becoming one of the most inspirational faces in the world, Oprah truly came a long way. Struggling through everything life threw at her with grit and determination, Oprah’s sturggles to success are an inspiration to everyone!

2. Walt Disney 

It may have all started with a mouse on paper. However, did you know that before his rise to success, Walt Disney failed not once, but several times? At the age of 20. Disney was fired from his first because his editor thought he lacked imagination and creativity. The first rejection did not stop him and he went on to create Laugh O’ Gram, a startup which went bankrupt months after its inception. In fact, even after creating the now famous Mickey Mouse, Walt could not find distributors for his seemingly unique product. It was only until sound made its way into the world of cinema that Disney became the sensational phenomanon it is today! If Disney gave up after the first bankruptcy, the world would have been a very different place!

3. Henry Ford 

Henry Ford, the founder of Ford Motor Company, was more than just a successful entrepreneur. While everyone knows what Ford is, not many know he failed two times and filed for bankruptcy both those times! In 1989, Ford formed his first company, the Detroit Automobile Company with backing from the famed lumber baron, William H. Murphy. The company went bankrupt. His second attempt was in 1901, when he formed the Henry Ford Company, which he ended up leaving with only the rights to his name. This particular company was later renamed to the Cadillac Automobile Company. However, it was Ford’s third try, with the Ford Motor Company which hit the proverbial nail on the head. The rest, as they say, is history!

4. Colonel Sanders 

Yes, Kentucky Fried Chicken (KFC) is finger licking good. However, do you know how many fingers went into making the chicken so delectable? Founded by Colonel Sanders, the special chicken recipe was rejected a grand total of 1009 people! Before he broke the perfect chicken recipe, he tried his hand at every odd job which hame his way. From being a fireman to being a tier salesman, Sanders did it all. A broke and hungry Sanders came up with the idea of frying chicken with the right sauces, a recipe created to perfection over time. He set up his first Kentucky Fried Chicken (KFC) restaurant in 1952 and from then onwards, the success rate was stupendous. In 1964, at 72 years, Sanders sold the the company for $ 2 million dollars to a group of investors led by Jack C. Massey and John Y. Brown Jr. He retained the rights to the Canadian franchises and stayed on as a salaried goodwill ambassador to the company. They say a happy tummy makes a happy person and Colonel Sanders rise to success proves just this point!

5. Thomas Edison 

We know the story all too well. Edison tried over 10,000 times to get the idea just right. His main focus? Inventing a commercially viable electric bulb which would give people all over the world the power of light. From his teachers to his peers, everyone thought Edison could not succeed with his life. If he had given up at the young age of 5, the world really would be very different.

The world is filled with wonderful inventions and creations. From tech related products to electricity related inventions, these were only possible because the inventors and the creators refused to give up their dream. If you think we missed out on any great inventors or creators, please feel free to comment and let us know!

 

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Emerging Startup Stories

When Kickstarter Was Kickstarted!

Published

on

The summer of 2009 was quite remarkable for Perry Chen, Yancey Stricker and Charles Adler. It was that time of the year when their dream website Kickstarter was launched! Kickstarter is a New York based public benefit corporation known for building a global crowdfunding platform. The company brings creative projects to reality and is the go to platform for many entrepreneurs! There ain’t no middlemen, no loans and no grants. Sounds cool, right?

The inception of Kickstarter!

Back in 2005, the mastermind Perry met Yancey Strickler and they became good friends. In a friendly conversation, the duo started scribbling on a whiteboard their exceptional thoughts with regard to a crowdfunding platform! Later, Perry convinced his friends to give him a little bit of money. Months later, Perry was introduced to Charles Adler and so the rest you know! The three of the great minds started working on their ideas and turned it into a website.

After years of research, they finally launched the website in 2009 which was then flooded with tons of investors and projects.

Perry Chan, along with the American media editor, Yancey Stricker and American Web designer, Charles Adler came up with the idea of launching a website for the purpose of crowdfunding. Post the launch of their website, the founders spread word about Kickstarter in their friends circle. However, projects started coming in and people stepped up to support projects consequently. In January 2010,  the team moved into a tenement building in the Lower East Side of Manhattan. From 3,910 successful projects and $ 27,638,318 pledges in 2010, the firm was reaching new heights already! This was followed by 18,109 successfully funded projects and $ 319,786,629 pledges in the year 2012. In the year 2013 Perry stepped down from the position of the CEO and went on to become the Chairman. He was replaced by Yancey Strickler. The year of 2014 brought the company a huge raising $ 13.28 million, which became the most funded Kickstarter project in history!

Here’s what makes Kickstarter so interesting!

Kickstarter does not rely on affluent investors. The company opts for crowdfunding, in which loads of smaller investors make contributions. The investment could be as little as a $ 1 and there are basically no restrictions. The company generated its revenue by assessing a fee of 5 percent from projects that reached or surpassed their funding targets. Projects that did not meet their funding goals within a specified time period did not receive any money pledged to them, and they were not subjected to the fee. The company so far has funded thousands of projects from investor donations resulting in several hundred million dollars. Isn’t that huge?

Kickstarter has become extremely important in the startup ecosystem! From entrepreneurs to investors, Kickstarter is one damn platform that could get you what you desire!

Continue Reading

Entrepreneur Stories

Get Ready To Say Goodbye To Yahoo Messenger On 17 July

Published

on

Featured, Get Ready To Say Goodbye To Yahoo Messenger On 17 July, Goodbye To Yahoo Messenger, no more Yahoo Messenger, RIP Yahoo Messenger, Say goodbye to Yahoo Messenger, Startup News India, startup stories, Yahoo Messenger to end on 17 July, Yahoo Messenger to go offline July 2018, Yahoo Messenger to shut down, Yahoo Messenger Will Be Discontinued on 17 July 2018, Yahoo Messenger Will Shut Down on 17 July

Let us take a dig at those nostalgic days when Yahoo instant messenger was a big thing! Remember those funky emojis? Oh, yes! How could you forget those stylish yet cute avatars that you could change instantly! Well, get ready to say a final goodbye to Yahoo messenger on 17 July.

According to the latest reports, Oath, the subsidiary of telecommunications giant Verizon, who operates Yahoo, announced the final wrap up of Yahoo Messenger. Yahoo’s spokesperson said,

Yahoo Messenger will no longer be supported after July 17, 2018. Until then, you can continue to use the service normally. After July 17, you’ll no longer be able to access your chats and the service will no longer work.

The current users who are still clinging to the old messaging service will be redirected to the new group messaging app Squirrel. Users will have six months to download their chat history! For more than a month now, Yahoo has been testing beta testing the Squirrel app. It will be open to the public once the Yahoo Messenger shuts down. However, those who are looking to try out the Squirrel app right now can request for beta access.

Yahoo on its official website said,

We know we have many loyal fans who have used Yahoo Messenger since its beginning as one of the first chat apps of its kind. As the communications landscape continues to change over, we’re focusing on building and introducing new, exciting communications tools that better fit consumer needs.

The Yahoo Messenger was launched in 1998 and was a big hit with the users! However, with time, the app appeared to lose its captivation as the competition got intense. Over the years, the app came up with a lot of updates to keep its users hooked to it. From redesigning the app, to bringing up new features, Yahoo did try surviving in the messaging platform but, couldn’t make it. The users did not find the messenger fascinating enough and eventually switched to other apps. Anyway, It is time to say goodbye to our once favourite messaging app, Yahoo messenger!

You will always be our first and favourite messaging app. 

Continue Reading

Entrepreneur Stories

Another bet slips off Amazon, PremjiInvest takes 6% Stake In Future Retail

Published

on

The year 2018 has been quite famous with a number of deals and acquisitions taking place in the Indian business market!

Speaking about the much hyped Flipkart-Walmart deal, that took place recently had everyone glued to the news. With regard to the Flipkart-Walmart deal, the e commerce giant Amazon Inc., lost its bet on Flipkart to the US retail behemoth Walmart. The Indian business market recently noticed an interesting investment between two firms!

The famously known Czar of the Indian IT, Azim Premji’s firm PremjiInvest, bought 6 % stake in Kishore Biyani’s Future Retail Ltd., for a whopping $ 251 million! The acquisition happened in a bulk deal! PremjiInvest, bought the stake in a bulk deal from Cedar Support Services Ltd., a subsidiary of Bharti Ventures Ltd., It purchased the stake from Bharti Group, which owns a 9 % stake in Future Retail.

Kishore Biyani, the Founder and CEO of Future Group, said in an interview,

PremjiInvest is one of the larger investors in the consumer space in India. They are also investors with us in Future Lifestyle Fashion (4% stake.)

The value of the transaction is around $ 251 million, of which Future Retail, will get up to $ 85.2 million through a clawback provision. A clawback is a provision which is a special contractual clause, typically included in employment contracts by financial firms, by which money already paid must be paid back under certain conditions.

In an interview, with regard to the e commerce giant Amazon Inc.,

Mr. Biyani said,

We are not in discussions of any stake sale at the moment

Earlier this year, there were talks about the CEO of Amazon, Jeff Bezos aligning with Mr. Biyani to discuss the strategic alliance. Alongside, back in March, there were reports that Amazon was about to acquire a 10 % stake in Future Retail! Well, looks like the ball is not in Amazon’s court!

As of now, Future Retail owns, the Indian hypermarket, supermarket and home segments with other significant brands such as  Big Bazaar, Easy Day and Foodhall.

With the two major acquisitions already slipping off, let us see what else is in store for Amazon in the future!

 

Continue Reading
Advertisement

Recent Posts