Failure Is an Option

Jeffrey A. Harris

Chapter Chapter 6 in Transformative Entrepreneurs, 2012, pp 89-101 from Palgrave Macmillan

Abstract: Abstract Milton Hershey‘s first two candy companies went bankrupt before he found a recipe for a distinctive confection, caramels. It was only later that he went into the chocolate business and became a household name. Walt Disney’s first cartoon factory and second entrepreneurial venture, Laugh-O-Gram Films, folded not long after it started. His third start-up company continues to flourish. Henry Ford’s first two car companies flopped, though the second one was restarted by others and became Cadillac. His third attempt profoundly influenced society. We only care about these failures because in each case the entrepreneur regrouped, having learned from prior mistakes, persevered, and launched a new venture that had considerable success.

Date: 2012
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DOI: 10.1007/978-1-137-51231-4_7

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