prasad1
Active member
Resilience may be more important than luck to your success. One thing these multimillionaires have in common is the ability to bounce back.
It's common knowledge that most entrepreneurs fail at some point. Sometimes it's a colossal failure that results in a startup closing its doors.
Other times, it's just a little hiccup that makes for a great story. Regardless of the severity of the failure, many successful individuals have had just as many defeats as victories, making every entrepreneur just a little bit wiser and stronger.
That doesn't mean that it's an easy pill to swallow. Failure isn't fun.
But if it's any consolation, even the most successful, influential, and wealthy individuals in the United States have also had their fair share of failure at some point. Here's a look at the 25 richest Americans and how they experienced failure.
1. Bill Gates
Have you ever heard of Traf-O-Data? Probably not, but it was Bill Gates' first company. Traf-O-Data was a device that read and processed traffic tapes. The problem was that it never worked and Gates was never able to sell it.
2. Warren Buffett
Even the great Warren Buffett experienced a few slip-ups during his storied career. In 1951, Buffett purchased a Sinclair Texaco gas station and wasn't able to turn a profit. But by 1962, Buffett was a millionaire. Even then he still had some learning to do.
3. Larry Ellison
Larry Ellison (along with his former boss, Bob Mine), founded Oracle in 1977. By 1980, Oracle still hadn't experienced much success, which forced Ellison to mortgage his home in order to secure a line of credit.
4. Sheldon Adelson
Always the entrepreneur, Sheldon Adelson began his career at the age of 12 selling papers and toiletries. Following his service in the army, the Boston native became a mortgage broker and investment adviser. At age 38, Adelson was worth $5 million. Unfortunately, the declining stock market and unwise business ventures caused him to lose his fortune not once, but twice.
5. Michael Bloomberg
Michael Bloomberg was let go from the investment bank Salomon Brothers. Bloomberg has stated that he went on to fund his own company because "nobody offered me a job, I was probably too proud to go look for one, and I said well, why not start your own company?" Over the next three years, Bloomberg perfected his company, which focused on finance, data, and media. The firing of this future mayor of New York City may have been for the best.
https://smallbusiness.yahoo.com/adv...ns-failed-during-made-millions-193000333.html
It's common knowledge that most entrepreneurs fail at some point. Sometimes it's a colossal failure that results in a startup closing its doors.
Other times, it's just a little hiccup that makes for a great story. Regardless of the severity of the failure, many successful individuals have had just as many defeats as victories, making every entrepreneur just a little bit wiser and stronger.
That doesn't mean that it's an easy pill to swallow. Failure isn't fun.
But if it's any consolation, even the most successful, influential, and wealthy individuals in the United States have also had their fair share of failure at some point. Here's a look at the 25 richest Americans and how they experienced failure.
1. Bill Gates
Have you ever heard of Traf-O-Data? Probably not, but it was Bill Gates' first company. Traf-O-Data was a device that read and processed traffic tapes. The problem was that it never worked and Gates was never able to sell it.
2. Warren Buffett
Even the great Warren Buffett experienced a few slip-ups during his storied career. In 1951, Buffett purchased a Sinclair Texaco gas station and wasn't able to turn a profit. But by 1962, Buffett was a millionaire. Even then he still had some learning to do.
3. Larry Ellison
Larry Ellison (along with his former boss, Bob Mine), founded Oracle in 1977. By 1980, Oracle still hadn't experienced much success, which forced Ellison to mortgage his home in order to secure a line of credit.
4. Sheldon Adelson
Always the entrepreneur, Sheldon Adelson began his career at the age of 12 selling papers and toiletries. Following his service in the army, the Boston native became a mortgage broker and investment adviser. At age 38, Adelson was worth $5 million. Unfortunately, the declining stock market and unwise business ventures caused him to lose his fortune not once, but twice.
5. Michael Bloomberg
Michael Bloomberg was let go from the investment bank Salomon Brothers. Bloomberg has stated that he went on to fund his own company because "nobody offered me a job, I was probably too proud to go look for one, and I said well, why not start your own company?" Over the next three years, Bloomberg perfected his company, which focused on finance, data, and media. The firing of this future mayor of New York City may have been for the best.
https://smallbusiness.yahoo.com/adv...ns-failed-during-made-millions-193000333.html
