11. Decca Records rejected The Beatles on the ground that “guitar groups are on the way out”, when auditioned for them in 1962, and claiming, quite wrongly, that “The Beatles have no future in show business.”
This is considered to be one of the greatest fiascos in musical history: before The Beatles were THE Beatles, they auditioned for Decca Records. They were rejected outright by the recording label, who chose Brian Poole and the Tremeloes instead. The reason they gave? That “guitar groups are on the way out”, and that “The Beatles have no future in show business.” One imagines – and perhaps quite rightly – that Decca must have regretted their blatant claims quite intently.(source)
12. 17-year-old Fred DeLuca, in a bid to earn enough to pay for medical school, opened the first Subway restaurant in 1965.
After having borrowed $1,000 from his friend Peter Buck, 17-year-old Fred DeLuca, in a bid to fund his tuition for medical school, started “Pete’s Super Submarines” in Connecticut. With the franchise expanding, they formed Doctors Associates Inc. to oversee operations in the many branches. The sandwich shop was renamed “Subway” in 1968.(source)
13. Enzo Ferrari had once told a man – “You may be able to drive a tractor, but you will never be able to handle a Ferrari properly.” The man, insulted, outraged, vowed to make the perfect car. Oh, and his name was Ferruccio Lamborghini.
Ferruccio Lamborghini was a wizard with mechanical work, and when it came to fixing engines, you probably would find no one better. After having served in WW II, Ferruccio set up a car and motorcycle repair shop in Italy. Being a car enthusiast, he owned several cars, one of which included a Ferrari 250 GT, but which was giving Ferruccio considerable problems. This led him to visit Enzo Ferrari, who, in answer to Lamborghini’s complaints had one thing to say to him – “The problem is not with the car but with the driver”, and proceeded to tell a then incensed Lamborghini to look after his tractors instead. Of course, Lamborghini did not heed that, and his cars are testimony to that.(source)
14. More than 1,000 restaurants rejected Harland David Sanders when he tried selling his chicken. Had they then known that this would be the famous “Colonel” of the even more famous KFC, they might have thought twice about rejecting him.
Then one didn’t, and now, Colonel Sanders and his pet KFC are one of the most loved, most renowned fast-food joints out there.(source)
15. Jaguar and Land Rover are both owned by Tata Motors – the Indian automotive company, and its story will inspire you.
1998: Ratan Tata(owner of TATA Motors), already having a car division, bought a hatchback car – Indica. But alas, people didn’t seem to like it, and it failed badly. Some even suggested that he sell his car division – something he agreed to do.
1999: In a bid to sell the division, Tata contacted many companies, and
“When you don’t know anything about passenger cars, why did you start the business? We are doing a favour by buying your business.”
But what goes around comes around. Come 2008, and Ford’s Jaguar-LandRover was on the brink of being bankrupt. And to the rescue comes none other than Ratan Tata, who bought the JLR division of Ford. This time, Ford’s words were-
“You are doing us a favour by buying our company.”
In 2014, of Tata Motors’ profit of 2.33 lack crore INR, JLR’s share was 1.90 lakh crore INR, amounting to around 82% of the total profits. Need I say more?