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3 Business Failure Turned into Success Stories that Will Motivate You
failure turned into success stories

3 Business Failure Turned into Success Stories that Will Motivate You

It has become a bit of a trend in the past few years for entrepreneurs to assess the positive aspects of failure. Others’ failure, of course. They see what lessons there are to be learned. And if they, somehow, can never repeat the mistakes made by others. With that in mind, we have put together a list of business failure turned into success stories that are sure to motivate you.

1. Kathryn Minshew, the founder and CEO of The Muse

Back in 2011, Kathryn and three other people had built a website called PYP Media. She had dedicated all her time to it as well as all her savings. However, because of disagreements with her partners, she simply woke up one morning to find that she had been cut out of the picture.

“A disagreement between the four [cofounders] turned into a nasty power struggle that put me and Alex [Cavoulacos], my current Muse cofounder, at the receiving end of screaming threats, and I woke up one morning to find my website access, as well as that of Alex and our entire team, shut off. I felt completely humiliated, like I had failed them and myself. I also ended up losing the entire life savings I’d put in the company–about $20,000. We could have sued, or we could have started over. We chose the latter.”

That lead to her founding The Muse. Kathryn now says that the failure is the best thing that ever happened to her.

2. David Lucatch, the founder and CEO of Yappn Corp.

Despite his hard work, David found himself quite a few times in a situation where he thought that his company, Yappn Corp., would simply not work. But he kept on pushing through. That’s how he got the nickname ‘the Bulldog.’ When it comes to failure turned into success stories, his are worth listening to.

“There have been times in my career when I thought I was going to fall short. Most recently during the early days of Yappn in 2013. By July, the company was in a stalemate, despite all my hard work. During these trying times, I poured all my energy and focus into doing whatever it took to succeed and leading my team by example.”

You might also like – How to Get Over Your Fear of Failure: 4 Ways and 5 Books

3. Benny Luo, the founder of Nextshark

“Before I found success in my first company, I dabbled in many ‘get rich’ ventures. Including network marketing, online poker, and affiliate marketing. While I did find some minimal success, all of these ventures eventually turned into failures. But, one day I realized that after each failure, I always gained some valuable knowledge of things I could apply to or avoid in my next project. That was the attitude I adopted after every failure from then on. I focused on what I gained instead of what I lost. Because that’s what really matters in the end.”

The truth is that we all love good failure turned into success stories. Whether it’s for the mere pleasure of hearing it or because we actually need the advice or simply to make ourselves feel better, we eat them up like candy. Or maybe we want to know we’re not the only ones going through this. But the important thing to remember is that you need to make your own mistakes to learn from.