12 Millennial Entrepreneurs Who Started with Nothing—and Made a Fortune

Understand your mistakes

Jake and Caroline Danehy founded Fair Harbor, a company that makes swimwear made out of recycled plastic bottles, at the ages of 20 and 17, while studying at Colgate University. The brother and sister duo pitched the idea in a Shark Tank competition put together by their university, and won a $20,000 grant. That’s not to say it was smooth sailing from there. “Everyone will try to warn you of how many mistakes you’ll make, but you don’t actually realize it until you experience each one for yourself,” Jake says. “Just keep going and learn from your mistakes.” So you messed up, maybe big-time—it happens. Here’s how to come out of this experience a wiser, more compassionate person.

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