Enterprise
Key lessons from start-up failures
Calyn Yap | 11 Aug 2017 00:30

Most successful entrepreneurs have experienced failures at some point. And as the saying goes, failure is the mother of success. Businesses failed for various reasons, and these can be powerful lessons for start-ups.

The word “failure” can send a chill down the spine of any start-up founder, causing him or her to shy away from its negative aspects. But is failure all that bad?

Prior to co-founding Twitter, Evan Williams established podcasting platform Odeo, which went obsolete after Apple’s iTunes store introduced a similar offering.

Richard Branson, who owes his fortune to Virgin Airlines and Virgin Records, also had a few failures along the way, including in the beverage industry, namely Virgin Cola and Virgin Vodka, as well as several other ventures in cosmetics, games, clothing and cars.

World Islamic Economic Forum (WIEF) Young Leaders Network chairman Ebrahim Patel says: “The world is less forgiving of failures today. If you’ve had a bad experience with any tech product, no one wants to talk about it any longer.



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