Honest Abe Lincoln bought too much stock he couldn’t sell and then his partner died. He took 10 years to pay back his debt. But he did pay it behaving honourably as an ethical entrepreneur. His bounce back in business shows you can be ethical in failure as well as success.
Abraham Lincoln failed and bounced back so many time it is extraordinary.
• 1816 His family was forced out of their home. He had to work to support them. Two years later his mother died.
• 1832 Lost his job - he wanted to go to law school but couldn't get in.
• 1833 Lent money from a friend to start a business but by the end of the year he was bankrupt. He spent the next 17 years of his life paying off this debt.
• 1834 Ran for state legislature a second time and won.
• 1835 Very sadly he got engaged but his fiance died, he was very depressed and heart broken.
• 1836 Had a total nervous breakdown and stayed in bed for six months.
• 1838 Sought to become speaker of the state legislature - defeated.
• 1840 Sought to become elector - defeated.
• 1843 Ran for Congress - lost.
• 1846 Ran for Congress again - this time he won - went to Washington and did a great good job.
• 1848 Lost in re-election to Congress.
• 1854 Ran for Senate of the United States but lost.
• 1856 Humiliating defeat in running for Vice-Presidential nomination
• 1858 Ran for U.S. Senate again lost again.
• 1860 Elected president of the United States.
Was his the greatest bounce back in business? Well it was certainly the biggest bounce back in US politics.
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