“I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” — Steve Jobs

If you’ve heard of Spider-Man, the Fantastic Four, Iron Man, Thor, and the X-Men, then you’ve been exposed to Stan Lee’s work. Lee used to be Marvel Comics’ Editor-in-Chief and Publisher. He also makes cameos in many of Marvel’s films.

Maybe you’ve seen him before. For a guy with a pretty significant string of failures, he sure looks happy most of the time:

Image by: Gage Skidmore

By most gauges of success, Lee would be successful. He is influential: Game of Thrones creator George R.R. Martin said in an interview, “Maybe Stan Lee is the greatest literary influence on me, even more than Shakespeare or Tolkien.” Forbes ranked Lee as the ninth most influential celebrity of 2014. Watchmen creator Alan Moore was influenced by Stan Lee’s work.

Lee’s work at Marvel Comics also led to Disney acquiring Marvel for US $4 billion in 2009. (But he had no equity in the company. More on that later.)

Most don’t look past these accolades into Lee’s actual story. Although he was undoubtedly blessed with a great creative ability (refined through regular writing and several clever experiments), I think one of Lee’s most remarkable accomplishments was his persistence despite his many failures and shortcomings.

For starters, Lee was entrepreneurial and creative, but he was far from a robust businessman. As he wrote in his autobiography (co-authored with George Mair) Excelsior!:

One of my lifelong regrets is that I’ve always been too casual about money. It’s been made abundantly clear to me, by friends such as Marshall and others, that I should have realized I was creating a whole kaboodle of characters that became valuable franchises, but I was creating them for others.

Harry Stonehill was a friend of Stan’s from the service who wanted to go in business with him. Stonehill was going to sell Christmas cards in the Philippines, because there was a short supply. Lee thought he was a lunatic. As he wrote in his biography, Excelsior!:

As the months and years went by I kept hearing from Harry. It seemed he now owned the franchise for U.S. Tobacco. Then I learned he had built a large glass-manufacturing company. Next time I heard he had created a fast-growing import-export company. It went on and on. Bottom line: After a few years my old army pal, Harry, had become the wealthiest man in the Philippines! I remember once writing to him and asking, “What kind of car are you driving?” because we always used to talk about cars. He wrote back, “Stan, I own half of the cars here in the Philippines. I’ve got dealerships.” Yep, any time my ego needs deflating, I remember how I was too smart to leave my comicbooks and go into business with ol’ Harry!”

That’s a pretty serious missed opportunity. Similar missed opportunities have probably haunted some people you know, as they grow more and more frustrated and wistful with each passing year. “If only…” they say.

In another case, here’s how Lee botched an income-generating side project:

Now I’ll give you further evidence of what a great business talent I possess. I gleefully told Joanie, “Honey, we’re a success. We made a five-thousand-dollar profit on the books.” And here’s where my embarrassing lunkheadedness comes in. I never thought to go back to press! I mean, I had the photos, I had the original plates, I had all the material. The creative part and the biggest expense was all behind me. I should have printed another ten thousand copies, and then another as long as they kept selling. But not good ol’ one-shot Lee. I was just happy to have proven to myself that I could write and sell my own humor book, and it never dawned on me that I had the foundation of a new publishing business if I would have stayed with it.

Lastly, when Marvel was acquired by Perfect Film and Chemical Corporation, Lee was in a perfect position to negotiate practically anything from his employer. His friend Marshall Finck advised him of this, and Lee reacted:

Well, Stan “Big Brain” Lee shrugged Marshall off by saying, “Are you kidding? Martin may have his faults, but he’s a friend. I’ve worked for him for twenty years. Do you think I’d insult him by saying, ‘What are you going to give me?’ I know he’ll be fair. I’m not some money-grubbing ingrate who’s gonna take advantage of the situation.

Unfortunately, Finck was right. Lee’s publisher and Marvel’s founder, Martin Goodman, never gave him anything. (There’s something to be learned for many artists out here, I’m just not sure what it is.) That happened again in a subsequent acquisition.

Let’s not forget the time Stan Lee was investigated by the SEC, FBI, and Justice Department when he had left day-to-day operations at Marvel and started a new venture Stan Lee Media. As it turns out, his partner Peter Paul had left the country to fled to Brazil. Paul was later convicted of securities fraud.

These monumental failures would be devastating to most individuals. Just hearing about them would probably scare their friends into never trying again. How the hell did Stan Lee get through all of that? As co-author George Mair wrote:

But once again, his ability not to dwell on the past served him well. A new chapter was about to open in his life and Stan was eager to face it.

Closing Thoughts

Remember, persistence is typically crucial to success.

Most entrepreneurs have their egos and self-worth tied in with their net worth or their companies’ success. Lee didn’t have to focus on that, partially because he was always a salaried employee. It’s tough, but crucial, to attempt to remove yourself from the situation.

Most artists have their egos and self-worth tied in with their work. Lee created so many characters and stories that a few resonated with mainstream audiences. He didn’t stick with one, and instead moved on to create new characters that were curious to him. Continue creating despite your momentum (or a lack thereof).

Be optimistic. Keep momentum going to avoid rumination. Accept mistakes. Don’t dwell on the past. And, as Lee said, “Hang Loose.” Don’t take yourself so seriously.