“Accepting Failures is easier” Said than done because the human ego doesn’t permit accepting failures. Besides, it is a lonely path to walk, and many people shirk from supporting others during times of failure. People network only if you are successful, and when you fail, people find reasons to be busy to keep away from you. That is an unsaid law in this world. Given the scenario associated with failures, people end up building strong walls internally and avoid taking risks, and experimentation takes a back seat. But there are people who have seen early failure, and have eventually succeeded and created substantial value.
Walt Disney, the creator of Disney characters like Mickey Mouse saw more failures that then successes he anticipated. As on April 5 2013, Disney’s market capitalisation was about $102.25 Billion. Ending December 2012, Disney’s revenues stood at $42.28 Billion with an operating income of $8.76 billion. Surprisingly, a newspaper editor had fired Walt Disney because he leaked imagination and had no any good ideas. After that, Disney started a number of business that didn’t last too long and ended in failure and bankruptcy.
However, he continued his animation movie, Snow White the Seven Dwarfs, which no distributor was willing to take up the movie, and they had to be cajole with huge discounts. When the movie opened at the box office, it made history and Walt Disney established a prominent place for himself in history.
The Wright Brothers battled family sickness, depression, and comprehensive stays at home. They started a bicycle shop and ultimately, from the 1900s onwards, experimented with flights. For several years they toil hard, and tried different kinds of prototype, flying machinery, and gliders. But all their attempts went in vain and they failed miserably umpteen times before their first flight took off on 17 December 1903, from Kitty Hawk, North Carolina. They were the first to institute a three axis control that is still used today for fixed wing aircrafts. Failure didn’t hollow their passion to create the first flight; instead it instigated them further to succeed.
Apparently, the rice cooker was the first product introduced into the market by Akio Morita, the co-founder of Sony Corporation. It sold a total of 100 units and often the contents of the cooker were burn. The failure didn’t depress the confidence of Akio Morita and his partners. They surge forward with newer innovative products to create Sony Corporation, a multibillion dollar company.