How to Fail in Business – When You’re Really Trying

How to Fail in Business – When You’re Really Trying

You can try so hard - and mess it all up. Learn how not to!

18
views

I've been working my business full-time for almost four years. Despite my hard work, my business very nearly failed.

I made a lot of mistakes that lead to this. I want to share those with you, so that you can learn from what I did – and have better success than my business has had.

Wait Too Long to Make the Leap

I was in a very comfortable, stable, and BORING day job. I had dead-ended in my career years before I finally had the courage to leave.

68% of employees in corporate jobs are disengaged. I was one of those folks. I had my business as a side-hustle, and it provided additional income. But I waited three years before I took my business full time!

Why?

Honestly, I let fear and security win the day – until I was truly desperate and HAD to leave. And unfortunately, that led to my second mistake.

Leave Your Job Without Savings

So, while I was comfortable, I wasn't building my income. I let myself get lazy – even though I had a business on the side. It was very difficult to prospect at night when all I wanted to was veg.

Plus, at the same time I was running my side-hustle, I was dating and eventually marrying my husband. That took a lot of energy, and I was more interested in spending time with him than in building my uncertain business.

As a result, when I finally reached my absolute limit and finally gave my two-week notice, I didn't have a cushion saved up. I had a retirement account – and I used it entirely the first year of my business.

Not recommended.

Fall For All the Marketing

I'll tell you the honest truth. It's really hard to resist the temptation to spend like crazy when you have your own business.

I had excellent credit. (HAD.) As a result, I was approved for a strong credit limit on my business credit card. And I took full advantage!

A lot of this had to do with the fact that I fell for a LOT of marketing messages. You know all the folks that say, "I built my business 1000% in one month using these five strategies?"

They're lying!

If I had realized that MUCH earlier, that alone could have helped my business stay a lot more healthy.

Here's the dirty truth – they grew their business 1000% by preying on the uncertainty of beginning business owners like you. They'll give you some generic strategies in their course – assuming you even finish it. But your results will not be theirs, because you're not following the REAL business model.

I also liked the feeling of traveling to business conferences. And those conference hotels are NOT cheap. I whipped out the credit card, oblivious. Oh – and business conferences are one more giant sales pitch. Don't fall for it.

Finding Your Footing

I made all of these mistakes, and my business is still alive. It's very rough and my family is in a deep hole. At this point I only qualify for the types of credit cards Bonsai Finance recommends for folks with bad credit. But I'm still kicking!

A lot of what I did to right the ship was to get back to my core service – freelance writing – and stop chasing every other "success story" out there. I started ignoring the marketing messages. I stopped believing the "I can show you a way to easy money," lies.

If you've found yourself struggling in your business, you may be making these mistakes. Hopefully this article has given you some clarity so you can see the way out!

Popular Right Now

Summer In College Is For More Than Just Working

No, you're never to hold to have fun in the summer.

486
views

There should never be an age where you stop having fun in the summer. The weather is nice, there are always things to do, and everyone is just naturally happier. So, regardless of whether you're 7 or 21, I'm talking to you.

During the year it can be hard to find a routine unless you are a very put together person. Sadly, I am not. Even when I tell myself I'm going to eat healthily, work out, and stop procrastinating, I usually don't follow through with that. At school, I find myself in somewhat of a constant catch-up mode. When I feel like I'm ahead on my homework or studying, that usually means I'm behind on being healthy in other aspects of my life. That is why I love summer. It's a chance to reset the clock for a second and catch your breath.

I get that having an internship or working is important for your post-graduation life, but having fun is important for your college years too. When you get a job in the real world, summer is going to look a lot different for you. That is why it's best to take advantage of the time now. This doesn't mean turning down that work experience, it means doing things other than just working.

First things first is finding a hobby you enjoy that you don't do at school. Pick it up for a little over the summer. Why not? For me, this is yoga. For whatever reason, I find myself too nervous to attend yoga classes at school. I have absolutely no reason to be anxious about doing something I like, but I am so I take the time to attend a few classes a week in the summer.

Secondly, try reading. Before you make that look of disgust on your face, think about the last time you read a book of your choosing. If it was recently, then kudos to you for managing your time well enough to do that. If you are not that person, then hello! I am talking to you. I am not a fan of reading because I usually associate it with homework. However, I find that when I have the time to browse the book section of a store for a few seconds, I find multiple books that jump out at me. During the summer I take the opportunity to read a little here and there. The nice part of leisure reading over school reading is that there's no deadline. You can read what you want when you want to.

Finally, learn something new. Again I usually associate learning with things that I am required to learn for my major. Learning something new that interests you is a different kind of rush. When I'm bored in class, I make bucket lists of little things I want to learn about. They can be big or small. One time I wanted to learn how to knit. Don't ask me why my 19-year-old self thought it would be sweet to sit on my porch in the summer knitting, but I did, and I'm kind of sad I didn't pursue that interest. When might I ever have time to learn how to knit again?

These might sound like quirky things to do, but you're young. Make a bucket list and try to cross one thing off each weekend. If you're like me, then you're a little scared of growing up. Scared you won't be able to accomplish all the things you want to. But, the fact of the matter is no one is going to make you accomplish them but you. So, take some initiative and do them. Summer is for more than just working; it's time to live a little and reset the clock.

Related Content

Connect with a generation
of new voices.

We are students, thinkers, influencers, and communities sharing our ideas with the world. Join our platform to create and discover content that actually matters to you.

Learn more Start Creating

What Do You Do if A Loved One Needs an Intervention?

When stepping in can save a life.

4
views

I watch the A&E; TV show Intervention on a regular basis, and the stories are both sad and frightening. There are so many things that can trigger someone to become an addict, and once they begin it's very, very hard to stop.

So what if you have a loved one that needs help? How do you pull off your very own intervention?

Form a Group

Who's going to participate in the intervention? Who's going to help plan it? There should be a specific group, although not everyone who helps with planning has to participate.

It can be helpful to have a professional present at the intervention, or you could choose to consult a professional during the planning but not have them physically attend. It depends on how big the group is and how likely you are to need an outside perspective.

Having one or more non-family members present can be helpful, though, especially if things get heated. A more neutral point of view can help keep everyone calm.

Know the Situation

Even though you may be angry at your addicted friend or loved one, remember that there's always a reason that they began taking drugs. Drugs tend to be an escape mechanism from pain.

What painful events has your friend or loved one faced? Have they been abused? Dealt with death or divorce? Had a bankruptcy or other financial embarrassment?

Knowing the core of the matter can help you be compassionate instead of angry, and if you address these core problems you may be able to get through an addict's defensiveness.

Find a Good Treatment Facility

Part of the strategy of a good intervention is to not give the addict a chance to change their mind once they agree to treatment. They should be moved as quickly as possible to the treatment facility.

Finding a good facility can be difficult since it shouldn't be too close to home. Everlast Recovery can be a great option since it's set in a beautiful location in California.

The Substance Abuse and Mental Health Services Administration (SAMHSA) can also be a very valuable resource. It's essential to have a facility selected before the intervention.

Plan Statements and Consequences

There to need to be clear, and often severe, consequences if an addict decides to stay on drugs. Perhaps they will be cut off from the family, or you will report them to social services so their children can be in a safer environment.

Have each person make notes about specific instances of problems, how they feel about the behavior, and how much they want the addict to get help. Some members of the team may want to simply write out their statement as a letter.

Do a Practice Run

Of course, the addict should not know about the intervention until it happens. However, the rest of the group should have one or more practice runs so that they can rehearse their statements. It's also important to practice emotional control.

You can have someone from the planning group stand in for the addict, and you may want to work through more than one scenario about how he or she might react.

Having a calm, united front will be vital on the day the actual intervention occurs.

Hold the Intervention and Follow Up

The intervention should be secret from the addict until the last minute. Once the person does or doesn't agree to go to treatment, the consequences should be immediate. This means an immediate trip to the facility or immediate negative consequences from family and friends.

Don't shy away from carrying out your ultimatums. When you're serious, they may reconsider!

Having a family or friend struggling with addiction is very hard. An intervention may save their life. Don't wait another day – get started!

Related Content

Facebook Comments