Startup businesses are often toughest on the owners because they have to overcome so much adversity on the road to eventual success. Online shoe retailer Zappos, led by Tony Hsieh, endured about a decade of failures before its successful acquisition by Amazon Inc.
Success is the ability to go from one failure to another with no loss of enthusiasm.
-Sir Winston Churchill
Inc. Magazine’s “10 Steps to Zappos’ Success” highlights Zappos’ struggles and eventual success:
- Being in a bad business with a track record of failure.
- Running out of money multiple times.
- Tony selling his San Francisco home to pay for a distribution center.
- Tony taking an annual salary from $24 to a high of just $36,000.
- Rejecting Amazon’s first buyout offer of $370 million.
- Eventually selling to Amazon after a decade of hard work for $1.2 billion and being able to remain as CEO and keep the company independent.
For entrepreneurs, even the path to success is filled with mostly failure after failure.