Ann: Exclusive USA Distribution Agreement-IOT.AX, page-259

Exactly. I could have chosen one of many, many entrepreneurs or billionaires who finally made it big after failure in their career. The fact he worked for Branson only adds to the relevance of the article!

That old quote by Michael Jordan also springs to mind:

"I've missed more than 9000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed."

Having someone who has experience on the board like this is invaluable. Invariably 'experience' = failure in life at some point along the way and using that to achieve success.