Iconic Brands Inc (ICNB)

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Entrepreneur 101 - case studies: Failure

0. Amazon - Amazon CEO Jeff Bezos told us, “I’ve made billions of dollars of failures at Amazon.com…None of those things are fun. But they also don’t matter. What really matters is, companies that don’t continue to experiment, companies that don’t embrace failure, they eventually get in a desperate position where the only thing they can do is a Hail Mary bet at the very end of their corporate existence,” Bezos said.

1. IBM - 0Thomas Watson Sr., the original Chairman and CEO of IBM, once said  “The fastest way to succeed is to double your failure rate.”  I sincerely believe that. In sales management and in marketing you must experiment a lot and this means that you will fail often and fail a lot before you can succeed.  In fact, in work and in life, failure is an absolutely essential ingredient for success.


2. Thomas Edison -I didn’t fail 1,000 times,” Edison answered. “The light bulb was an invention with 1,000 steps.”

3. Apple - Founded in 1976, the company had its share of failed products – even ousting its founder during a downturn in 1985. The iMac and iPod turned everything around, with Steve Jobs returned in 1997 and becoming an icon of the industry. But without the hard times and failures that preceded these successes, Apple would never have become what it is today.

4. Dyson Vaccumm- Currently, Dyson is one of the top-selling vacuums of all time. However, founder James Dyson’s road to the top was lined with failure. He tested 5,271 prototypes before finally found a vacuum that worked – but even then, he couldn’t find an American or European company to license and manufacture his product. As a result, in 1993, he created his own manufacturing operation. Just two years later, Dyson vacuums were a worldwide sensation, demonstrating that it pays to never give up.

5. WD-40 - Have you ever wondered where this useful lubricant got its name? The name comes from the fact that the formula represents the 40th attempt to create a degreaser and rust protection solvent