Are there any chances to succeed after startup failure? 💪

Yesterday we told you about the rules of a successful and a failed startup. If you have missed it, be sure to check it out HERE!

Today, we decided to answer a very popular question: “If I find myself at the bottom, is there any chance to get out as a winner?” Well, the history of modern business gives a clear answer — everything is possible as business always carries a number of risks and opportunities.

What if we tell you that some of the most popular inventions, which we use daily all over the world, were just some desperate startup ideas?

For example, YouTube, which generated $19.77 billion in revenue in 2020, was initially a failing dating site before becoming the largest video hosting site. The success came when one of the founders, Jawed Karim, checked the technical side of the site and posted a video from a zoo. People started sharing their videos through hosting, and that's when the idea came up to radically redesign the concept. That is the greatest illustration of flexibility.

Apple also had a hard time getting started. Steve Jobs made a journey from his parents' garage to Apple Park with a tremendous amount of effort. It was a hard work and non-stereotypical thinking that brought his ideas to a new level.

And one of the most important qualities was demonstrated by Dyson at the start of its history. In 1978, vacuum cleaners had several disadvantages: low power due to bulky bags and the need to purchase burnt parts. This inspired James Dyson to create a completely new product that had no copies. After 5.127 prototypes, the firm achieved universal recognition. Here it is, a real example of perseverance and obstinacy.

What story amazed you the most?