Want to find the next Starbucks? They could be bankrupt failures today!

There’s the book gaining more and more attention
called Discovering the Next Starbucks,
which is about picking great companies ahead of the curve.

Just a reminder — the hot company is tomorrow could possibly be a dismal failure today.

Disney failed at the amusement park business three times before prevailing. The same number of failures as Pepsi. And so on. You’ve probably heard the list of Lincoln’s failures and Edison’s 1800 useless designs for the lightbulb. I’ll spare you.

In America, we worship entrepreneurial success, but are often more cool about the entrepreneurial failures that undoubtedly precede them.

The fantastically successful entrepreneur of tomorrow is probably drunk in a bar right now, sweating his unpaid mortgage and lamenting his past strategic decisions.

Failure is not a guarantee of future success, though it’s almost always one of the points along the way.

-Garland