While many associate the word “bankruptcy” with “epic failure”, history shows us that through the adversity of life one must use knowledge and tenacity to turn “epic failure” into, just, “epic”.

In 1923, Walt Disney‘s creditors forced bankruptcy upon him and assumed his assets to settle his debts. Walt Disney and Mickey - Disneyland Anaheim (California USA) Likewise, after many ups and downs, including being fired from the company he created, Steve Jobs returned to Apple in the mid 90’s while it was on the verge of bankruptcy. Today, Apple sits as one of the most powerful and highly valued companies in the world, with a net worth over 65 billion dollars. Walt Disney was reportedly worth over $1 billion when he passed, and Disney continues to be a household name in places across the world. So, what happened?

Both men did not allow failure as an option. Rather, they accepted their failure and used it as a learning experience to catapult them to the next level. Through their struggle, they both discovered valuable lessons and let their mistakes serve as springboards to correcting their paths in achieving their ultimate dreams.

Bankruptcy can serve as a springboard for many who have made mistakes in a difficult economy under difficult circumstances. Rather than the perception of bankruptcy as a failure in our lives, it can serve as a new beginning and learning experience to protect and educate us towards a brighter future. Inaction results in nothing, and through the examples of champions in business and innovation in both Steve Jobs and Walt Disney, action and tenacity through tough times has been proven to be successful.

The more knowledge one has about bankruptcy, the more power one has over their future. With the help and guidance of an attorney, a strong team can navigate the path towards future success.

(RN/tl)