5 people who were successful after facing bankruptcy

We continue in times of economic crisis. Many families are still struggling to make ends meet and many others have all their members unemployed.

This is why I wanted to create a really motivating article. Next, you will discover the story of five people who overcame the initial failure of their business and became very successful people.

An innovative idea is not always synonymous with success. You have to insist, be constant at work, provide an extra dose of motivation and passion to make this idea (or a similar one) succeed.

Even the greatest entrepreneurs have suffered major economic setbacks in their lives and they were not discouraged for that. Although they went bankrupt, they did not give up everything and tried again.

1. Abraham Lincoln

One of the most famous presidents in the history of the United States. Today, his face is printed on some coins but this person became penniless in his pocket.

When he was young, Lincoln had a small store in New Salem, Illinois, in 1832. However, Despite knowing how to run a nation, he was not very good at his own business: After his partner died, he racked up a huge debt and lost everything.

He finished paying for it all in 1840, two decades before he became president.

2.Henry Ford.

Henry Ford was one of the greatest business men in the world when it lowered the cost of manufacturing cars by implementing the mass production process.

However, life was not always a bed of roses for him: before creating the Ford, he founded the Detroit Automobile Company, which failed after two years of operation and with only 20 cars built.

Fortunately, was able to rise from its ashes in record time and founded the factory of his dreams in 1903.

3. Milton Hershey.

He was the inventor of chocolate in bars.

Milton Hershey faced bankruptcy when he was very young. He began as an apprentice in a candy store, until he founded his own company in Philadelphia (USA) in 1876.

However, this company did not work and it went bankrupt six years later. After that, he returned to his hometown of Lancaster, and pioneered the use of fresh milk to produce caramel. Thanks to the success of this new company, he sold it for 1 million dollars in order to dedicate himself to what he loved the most: milk chocolate. It worked!

4.Walt Disney.

One of the greatest entertainment entrepreneurs of all time He also went through difficult times in life.

Walt Disney's business career began in 1922 with a company located in Kansas. He began creating advertising videos and short films. However, ended up going bankrupt.

In 1928, Disney reappeared to create Mickey Mouse and revolutionize seventh art animations.

5. H. J. Heinz.

At age 25, Heinz founded a company with two partners to create a horseradish-based sauce. This was the first of 57 varieties created by him, but it was very successful. Your company went bankrupt.

A year later, Heinz tried again to work with condiments and teamed up with his brother and a cousin to create a new company with tomato sauce as a flagship. This time it worked and he was able to invest in different flavors.