Over the years, after talking with tens of thousands of entrepreneurs, artists and creatives, almost every success story we’ve heard has been filled with stories of failure. Unfortunately, in our view the media rarely covers these parts of the story – instead we often read summaries that make it seem like success happened “overnight.” However, what we’ve learned in our conversations with so many successful folks is that failure is core ingredient in the recipe for future success. Below, we’ve shared some fascinating stories of failure from folks who have ultimately found great success.
Mackenzie Morris
I have been an entrepreneur for over 15 years and in that timeframe I have failed so many times. That is just a fact of life when you are an entrepreneur but what’s funny about it is that every time I fail I do not consider a failure but I consider a win because from that failure, I will automatically gain experience and knowledge and wisdom that will get me closer to my next big goal and help mold me to better becoming the highest version of myself. One of my most prominent failures in my career was when I decided to get my company’s product onto Amazon. I wanted to tap into it’s global market and I just knew that my products would sell and I would impact millions of lives and make millions of dollars……that could not have been further from the truth. Not only was there a HUGE learning curve between selling for yourself and then selling on a platform like Amazon, but there were astronomical hidden costs associated with launching a private label brand that are not common knowledge. Let me break it down for you: Read more>>
Rodney Perry
Do I have a lesson of failure it’s happening as we speak I believe I’m in a season of failing, but specifically failing on my own expectations of myself. 2024 is the year of the great humbling that I didn’t truly foresee at the start of the year, I was managing two great reoccurring clients and consistently seeking out new opportunities I had planned to revamp my services and marketing strategy to fit the local needs of Atlanta’s creative/small business ecosystem, but through unforeseen circumstances I found myself back to square one. I felt demoralized and lost as to how all of this happened, that was months ago and I believe I have started to discover the silver lining as the year comes to a close Read more>>
Ali Waks Adams
When I was 31 years old, I am now 54, I opened a restaurant. At that time I had worked in theater, special events, trade shows, offices but never in a restaurant. Actually that is not true, when I was 19 I bartended one night a week for the summer at a restaurant that was 100% laundering drug money. I think I worked there a total of 6 times. So yeah, I knew NOTHING about the restaurant business from the inside. I LOVED restaurants, and I read Soul of a Chef and Kitchen Confidential, I wanted desperately to be on the inside, just not desperately enough to do it the right way. I came to this business completely ass backwards. I started at the top knowing nothing. Read more>>
Antonia Boakye
I think i fail every day , but it’s all in perspective. There’s many ideas or businesses I’ve had that just didn’t work out , yet from each one was a lesson. A lesson on what not to do and on what to do better. Constantly learning and growing as a business owner- it’s hard! While it sucks failing is the best teachers. Like children learning to walk they fall time and time again yet they don’t give up they try again. It’s literally the mindset we need when doing something new and the first time. We can ask for help and have people encouraging/supporting us and that helps! Read more>>
Dr. Latrice Williams
My story of failure is in business. It was actually a failure that turned into a major win! Early in my business, my company produced an amazing empowerment magazine. We had paid writers on staff who submitted quarterly articles. The response was good at first and subscriptions we’re going well. After about two years, subscriptions were beginning to slow and it was costing more to produce than what was being made. Although it was a great product, after the third full year of production, I shut the magazine down with the last quarter having NO sales. That was a hard choice but a necessary one. The major win came shortly after I decided to closeout the Magazine division. A lady reached out to me wanting to produce her own magazine. She wanted my company to design the layout for her and provide the ability to sale her magazine. Amazingly, this one year contract generated more income for my business than the full three years of magazine sales. Since that time, I’ve designed magazines for many other ministries and for profit organizations. My experience over the three years of producing my magazine, though it didn’t yield much then, is now yielding greater return. And I was able to hone my design skills. Now, Living With More Enterprises, has a full magazine/newsletter design division. It was a huge failure with some losses that has turned into a major win for me. Read more>>