7 Stories on Overcoming the Fear of Business Failure

1. Arianna Huffington: Rejection Fuels Reinvention

Arianna Huffington, co-founder of The Huffington Post, has an inspiring story of resilience. Long before building her digital media empire, she faced a challenge when her second book was rejected by 36 publishers. For many, such repeated rejection would have been a signal to give up, but not for Huffington. Instead, she used this experience as fuel to reinvent herself, realizing that persistence and adaptability were key to success.

Huffington’s work paid off when she launched The Huffington Post, a venture that initially faced skepticism but quickly rose to prominence. Her journey from rejection to success illustrates how embracing failure, rather than fearing it, can lead to new business innovation. “Failure is not the opposite of success; it’s a stepping stone to success,” she often reminds her audience.

2. Sara Blakely: From Failure to Multi-Billionaire

Sara Blakely, the founder of Spanx, turned one of her greatest fears—failure—into a key ingredient for success. Blakely’s early career as a door-to-door fax machine salesperson was far from glamorous. After being met with countless “no’s,” she shifted gears and decided to solve a personal problem—she wanted undergarments that didn’t show through her clothing.

When she created Spanx, Blakely was met with skepticism from manufacturers and department stores alike. She faced numerous rejections, but Blakely’s upbringing—where her father regularly encouraged her to embrace failure—gave her the confidence to persist. She is known for her quote, “Failure is nothing more than life’s way of nudging you that you’re off course. My dad used to ask us at dinner what we failed at that day.”

Today, Spanx is a billion-dollar company, and Blakely’s story is a testament to the idea that when failure is seen as a stepping stone rather than a stumbling block, great things can happen.

3. Walt Disney: Fired for “Lack of Imagination”

Walt Disney is synonymous with creativity and imagination, yet his career began with failure. In the 1920s, Disney was fired from a newspaper job because his editor felt he “lacked imagination and had no good ideas.” To make matters worse, Disney’s first animation studio, Laugh-O-Gram, went bankrupt.

Rather than seeing these setbacks as the end of his career, Disney saw them as opportunities to learn and grow. He used his early failures to refine his vision and develop new skills, eventually creating the iconic character Mickey Mouse and building one of the most successful entertainment empires in history.

4. J.K. Rowling: A Life Shaped by Imagination

Before J.K. Rowling became one of the most successful authors in the world with her Harry Potter series, she faced numerous obstacles. Living as a single mother on welfare, Rowling struggled with depression and was rejected by 12 publishers before Bloomsbury finally took a chance on her manuscript.

These rejections could have easily led Rowling to give up on her dream of becoming a published author. Instead, they fueled her determination. In a 2008 Harvard commencement speech, Rowling said, “It is impossible to live without failing at something unless you live so cautiously that you might as well not have lived at all, in which case you fail by default.”

Rowling’s eventual success came not just from her talent but from her resilience and ability to turn rejection into opportunity. Her story highlights how even when life seems at its bleakest, persistence can eventually lead to incredible success.

5. Vera Wang: A Late Bloomer Who Embraced New Directions

Vera Wang, now a world-renowned fashion designer, didn’t start her career in fashion until she was in her 40s. Before entering the fashion world, Wang was a competitive figure skater and a journalist for Vogue. When she was passed over for the Editor-in-Chief position at Vogue, after 17 years with the magazine, she decided to leave and pursue a different path in fashion design.

Wang’s entry into the fashion industry wasn’t without its struggles. She launched her brand with a bridal boutique in New York City, a risky move given her lack of experience as a designer. However, her unique vision and creativity soon set her apart. Today, Vera Wang is synonymous with high-end bridal fashion, and her brand is celebrated globally. Wang’s story demonstrates that it’s never too late to reinvent yourself and pursue your passions.

6. Fred Smith: From Failing Grade to Global Empire

Fred Smith, the founder of FedEx, came up with the idea for his overnight delivery company while studying at Yale University. When he submitted his paper outlining the concept, he received a C grade. The professor deemed the idea impractical and unlikely to succeed. After college, Smith faced further challenges when he tried to turn his idea into a reality. In FedEx’s early years, the company struggled financially, even reaching a point where it was close to bankruptcy.

Instead of giving up, Smith took bold steps to save the company, including using his last $5,000 to gamble in Las Vegas, which earned him $27,000—enough to keep the company afloat. FedEx eventually found its footing and grew into a global logistics giant. Smith’s willingness to take risks despite early failures demonstrate how bold thinking and determination can turn an improbable idea into a successful global business.

7. Soichiro Honda: From Rejected Engineer to Automotive Innovator

Soichiro Honda, the founder of Honda Motor Co., experienced several failures before achieving success. Initially, Honda was rejected by Toyota for an engineering job. This setback could have discouraged him, but instead, he decided to pursue his dream of creating his own car company.

Honda’s early ventures faced numerous difficulties, including the destruction of his factory in World War II and a devastating earthquake. Despite these challenges, Honda remained resilient, focusing on developing innovative and affordable motorcycles. His perseverance paid off when the Honda Super Cub became a global bestseller, helping to establish Honda as a successful business in the automotive industry. Today, Honda is one of the largest and most respected car manufacturers in the world.