Abraham Lincoln – Long before he was president or a politician, Lincoln was an entrepreneur. Fortunately for this Country, Lincoln was far better as president of the Country than he was of his company. Having gone into debt to buy a general store, and even deeper in debt to buy out a competing store, Lincoln and his partner had everything they needed, except one thing… paying customers. Unable to repay creditors with bartered goods, Lincoln’s store (called “Berry and Lincoln”) quickly went out of business, Lincoln found himself being sued by creditors and even had his horse “repossessed” by the sheriff. In need of a job, Lincoln ran for state legislature. Unfortunately for Lincoln, there were no bankruptcy laws at the time, and Lincoln was essentially a slave to his creditors, struggling to repay his debts for nearly two decades… even as a member of Congress.

Walt Disney – Long before the name Mickey Mouse was a household name, Walt Disney was a struggling filmmaker growing deeper and deeper in debt. Armed with a used camera, Disney and his partner began making short films and cartoons in Kansas City, Kansas in 1922. After having been cheated out of a promising distribution deal, Disney couldn’t keep up with his overhead and operating expenses, and eventually filed for bankruptcy in 1923. Determined to succeed, and free of debt, Disney left Kansas behind and headed to Hollywood. While Disney had some creations of limited success in the years immediately following filing bankruptcy, it was Disney’s introduction of a certain mouse in the short cartoon “Steamboat Willie” in 1928 that marked the beginning of Disney’s success.

Milton Hershey – Ever the dreamer, after four years as an apprentice to a candy maker, and without any formal education, Milton Hershey opened his first candy shop in Philadelphia in 1876. After six years unsuccessfully trying to sell his sweets in Philadelphia and also New York City, Hershey’s business went sour, and Hershey went back home to Lancaster Pennsylvania. It was back home in Pennsylvania where Hershey pioneered the use of milk in caramel production, and formed the Lancaster Caramel Company. Hershey later sold the Lancaster Caramel Company for an estimated $1 million and found even sweeter success pursuing a perfect milk chocolate formula, perhaps you’ve heard of Hershey’s Chocolate?