Famous 'Trep Failures -- and Comebacks
Many entrepreneurs have their business heroes. Some are revered not only for their spectacular successes but for the reversals they endured and subsequently overcame. With economic indicators for a strong business recovery still faint, it can be helpful to recall the early setbacks of some of the best-known entrepreneurs and what can be learned from them.
Here's a look at iconic entrepreneurs, their early struggles and their eventual comebacks.
Henry Ford (1863-1947)
Company: Ford Motor Co.
Turnaround: Ford continued to develop better auto designs and gained national acclaim in 1904 by demoing a car -- the "Ford 999" -- that broke the land-speed record by going a mile in about 40 seconds. In 1908, he released the Model T, a well-made, low-priced car that quickly gained traction with U.S. consumers. Annual sales topped $250,000 by 1914.
Lesson: Building a brand requires more than just building a good product..
Anita Roddick (1942-2007)
Frederick W. Smith (1944 - )
Walt Disney (1901-1966)
Steve Jobs (1955 - 2011)
Bill Gates (1955 - )
Harland David Sanders, a.k.a. "Colonel Sanders" (1890-1980)
Mary Kay Ash (1918-2001)
Dave Thomas (1932-2002)
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