Even the most successful executives and entrepreneurs have faced significant setbacks. Whether being fired from a high-level role, launching a failed business, or dealing with burnout, failure is often the turning point that shapes lasting success.
But what separates those who rise from those who stay stuck?
The answer lies in how you respond to failure or better said – turn failure into success.
If you’re feeling stuck in your career or business, overwhelmed by setbacks, or unsure how to move forward, understanding how others have turned failure into success can help. Learning from real-world examples can reveal the strategies and mindset shifts that make a difference. These stories show how setbacks can lead to breakthroughs—and how you can apply the same lessons to your own journey.
How to Turn a Setback into a Setup for Success
Steve Jobs co-founded Apple in 1976, but by 1985, he was forced out of his company after a power struggle with the board. It was unprecedented—being pushed out of a company he had built from the ground up. Jobs later admitted that, at the time, he felt like he had utterly failed. He was humiliated, lost, and uncertain about his next steps.
Imagine being publicly ousted from the company you’ve built.
Naturally, for Jobs, this was a crushing blow.
For most people, that kind of setback would be the end of the story.
But Jobs didn’t let it define him.
Instead of retreating, he founded NeXT, a tech company focused on high-end computing and bought Pixar, which was then a struggling animation studio. NeXT focused on building advanced software and hardware solutions, but Pixar would be his real game-changer.
After years of innovation, Pixar’s Toy Story became the first full-length computer-animated film, catapulting the company to success and proving Jobs’ ability to build visionary companies outside of Apple. By 1997, Apple was struggling with declining sales, a lack of innovation, and poor leadership. The company strategically decided to acquire NeXT—not just for its technology but to bring Jobs back into the fold. Upon his return, Jobs quickly restructured Apple, cutting down unprofitable product lines and focusing on simplicity and design. He secured a $150 million investment from Microsoft, which stunned the industry but was crucial to keeping Apple afloat. Soon after, the iMac, iPod, and the iPhone changed the company’s trajectory forever- the moment his failure turned into his most significant success.
Failure isn’t final.
It can be the reset you need to think bigger and return stronger. Jobs’ removal from Apple forced him to innovate, leading to more tremendous success than before.
Your setback is a setup for something bigger.
Reframing failure as a stepping stone rather than a dead end can transform setbacks into opportunities. Jobs didn’t let rejection define him—he saw it as a chance to innovate elsewhere.
When facing failure, ask yourself: What can I learn from this? What new doors might be opening? Growth often comes from discomfort.
Reinvention is the Key to Long-Term Success
Sallie Krawcheck was one of the most powerful women on Wall Street, known for her sharp analytical skills and integrity. She was CEO of Smith Barney, Citigroup’s wealth management division, when she boldly advocated reimbursing clients after they were misled into buying poor-performing investments. Her principled stance, while the right thing to do, clashed with the bank’s leadership, and she was fired.
Then, she was fired. Twice.
First, from Citigroup, after she advocated for reimbursing clients who had been sold lousy investment products.
Second, from Bank of America during a restructuring.
These very public firings could have ended her career.
Instead of trying to claw her way back into the corporate world, she reflected on the systemic gaps in the financial industry. She recognised a massive opportunity: women were significantly underserved in wealth management. With this in mind, she co-founded Ellevest, a digital investment platform specifically designed for women’s financial needs, considering income gaps, career breaks, and longer life expectancy in investment strategies. Her approach completely shifted from the traditional ‘one-size-fits-all’ investment models.
She saw a huge gap—women were being overlooked in wealth management.
She launched Ellevest, a digital investment platform designed specifically for women. Today, the company manages billions in assets, and Krawcheck is a leader in financial empowerment.
Failure forces reinvention.
Instead of seeing setbacks as obstacles, view them as redirections toward something better. Krawcheck used her expertise and network to build a company that directly solved a problem she cared about. When one door closes, another door opens—but only if you’re willing to walk through it.
Don’t rush back to the same path if you’ve hit a dead end. Take a step back and reflect—could this be an opportunity to pivot? Use failure as a springboard for reinvention by freshly leveraging your strengths.
Adaptability is key.
Instead of resisting change, embrace reinvention. Krawcheck recognised that failure wasn’t the end—it was a redirection toward a greater mission. If you feel stuck, ask yourself: How can I use my expertise in a new way? What industry gaps can I fill? True success comes from aligning your skills with a meaningful purpose.
Personal Growth Can Lead to Professional Success
Dan Harris had a successful career as a news anchor, covering high-stakes global conflicts and breaking news. But behind the scenes, he was battling intense stress, workaholism, and anxiety. His lifestyle, filled with high-pressure reporting and little self-care, led him to rely on adrenaline and even occasional substance use to cope. But years of stress, burnout, and poor coping mechanisms caught up with him in a very public way.
In 2004, he had a panic attack on live TV while delivering a segment on Good Morning America. It was humiliating, and he thought it might end his career.
Rather than ignore his struggles, Harris decided to take control of his mental health after a wake-up call—his panic attack was so severe that it nearly derailed his career. He began researching stress management and resilience, which led him to the unexpected world of mindfulness and meditation. At first, Harris was sceptical. He thought meditation was ‘for hippies,’ but as he explored the neuroscience behind it, he realised its potential for high-performing professionals like himself. Dan started researching stress, anxiety, and the brain.
What he found was meditation—something he had once dismissed as nonsense.
He decided to try it anyway. It wasn’t an overnight fix, but little by little, it worked. His anxiety became more manageable, and he regained control.
Harris didn’t just stop there.
He wrote 10% Happier, a book that turned his experience into a lesson for others, breaking down meditation in an approachable, practical, and evidence-based way. It became a bestseller, resonating with professionals who, like him, had dismissed mindfulness as ineffective or impractical. The book’s success led to the launch of the Ten Percent Happier app and podcast, where he interviews experts in neuroscience, productivity, and well-being. It became a bestseller. He later launched a meditation app and podcast, reaching thousands of people struggling with stress and burnout just like he had.
Your most significant challenges can reveal your true purpose.
Your struggles can become your superpower. Instead of ignoring anxiety, Harris confronted it head-on and turned it into a life-changing mission. Resilience isn’t about avoiding failure—it’s about using it to fuel growth. When faced with challenges, ask: What is this teaching me? How can I turn this struggle into strength? Personal growth fuels professional success.
Failure is Not the End—It’s a Stepping Stone to Success
Failure doesn’t mean you’re incapable—it means you’re growing.
The most successful people use failure as a tool to reassess, adapt, and move forward with greater clarity. They turn failure into success.
Your setback may be setting you up for something bigger. Reinvention is a power move. If you hit a dead end, pivot and leverage your strengths differently. Personal resilience fuels professional success. Investing in your well-being will strengthen you in every area of your life.
Your most remarkable comeback might be just around the corner.
References
- Gallo, C. (2015). The Presentation Secrets of Steve Jobs: How to Be Insanely Great in Front of Any Audience. McGraw-Hill Education.
- Isaacson, W. (2011). Steve Jobs. Simon & Schuster.
- Krawcheck, S. (2017). Own It: The Power of Women at Work. Crown Business.
- Harris, D. (2014). 10% Happier: How I Tamed the Voice in My Head, Reduced Stress Without Losing My Edge, and Found Self-Help That Actually Works. Harper Wave.
