How to Fail in Business – When You’re Really Trying
Start writing a post
Life Stages

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

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

29
How to Fail in Business – When You’re Really Trying

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!

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
Adulting

Unlocking Lake People's Secrets: 15 Must-Knows!

There's no other place you'd rather be in the summer.

933130
Group of joyful friends sitting in a boat
Haley Harvey

The people that spend their summers at the lake are a unique group of people.

Whether you grew up going to the lake, have only recently started going, or have only been once or twice, you know it takes a certain kind of person to be a lake person. To the long-time lake people, the lake holds a special place in your heart, no matter how dirty the water may look.

Keep Reading...Show less
Student Life

Top 10 Reasons My School Rocks!

Why I Chose a Small School Over a Big University.

109263
man in black long sleeve shirt and black pants walking on white concrete pathway

I was asked so many times why I wanted to go to a small school when a big university is so much better. Don't get me wrong, I'm sure a big university is great but I absolutely love going to a small school. I know that I miss out on big sporting events and having people actually know where it is. I can't even count how many times I've been asked where it is and I know they won't know so I just say "somewhere in the middle of Wisconsin." But, I get to know most people at my school and I know my professors very well. Not to mention, being able to walk to the other side of campus in 5 minutes at a casual walking pace. I am so happy I made the decision to go to school where I did. I love my school and these are just a few reasons why.

Keep Reading...Show less
Lots of people sat on the cinema wearing 3D glasses
Pinterest

Ever wonder what your friend meant when they started babbling about you taking their stapler? Or how whenever you ask your friend for a favor they respond with "As You Wish?" Are you looking for new and creative ways to insult your friends?

Well, look no further. Here is a list of 70 of the most quotable movies of all time. Here you will find answers to your questions along with a multitude of other things such as; new insults for your friends, interesting characters, fantastic story lines, and of course quotes to log into your mind for future use.

Keep Reading...Show less
New Year Resolutions

It's 2024! You drank champagne, you wore funny glasses, and you watched the ball drop as you sang the night away with your best friends and family. What comes next you may ask? Sadly you will have to return to the real world full of work and school and paying bills. "Ah! But I have my New Year's Resolutions!"- you may say. But most of them are 100% complete cliches that you won't hold on to. Here is a list of those things you hear all around the world.

Keep Reading...Show less
Lifestyle

The Ultimate Birthday: Unveiling the Perfect Day to Celebrate!

Let's be real, the day your birthday falls on could really make or break it.

54933
​different color birthday candles on a cake
Blacksburg Children's Museum

You heard it here first: birthdays in college are some of the best days of your four years. For one day annually, you get to forget about your identity as a stressed, broke, and overworked student, and take the time to celebrate. You can throw your responsibilities for a day, use your one skip in that class you hate, receive kind cards and gifts from loved ones and just enjoy yourself.

Keep Reading...Show less

Subscribe to Our Newsletter

Facebook Comments