Has anyone failed in a Business venture??

[Rich & Sunny]

I failed a couple especially MLM.
Today I'm truly grateful/successful with
the online home based business I'm in.

I'm just curious to hear your reasons why you might have failed,
or maybe why you never started?

I love hear others share their personal experience,
please make sure it's from the HEART though
not just from the top of your head.
Thanks...


Richard Edwards.
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[ZingerIntl]

Let me tell you what I have come to understand.
I have had a
contracting company (seasonal)
MLM
Marketing firm
Construction company

All the people that are around me, that are not willing to take the risk of leaving a job to work for themselves, see me as a guy that has failed a lot. Well I closed out the books and lets see the failure.
contracting company (seasonal) 8 seasons $240,000 income $40,000 expenses
MLM $500 start up cost $10,000 income in one year (franchise went bankrupt)
Marketing firm avg $8,000/week income avg $6,000/week expenses about $50,000 profit
Construction company $4,000 worth of tools made $50,000 in 8 months part time

Now look at it this way and you see that I have never failed, but because my dreams were bigger than how much I made, all the people that heard my dreams that have NO DREAMS OF THEIR OWN... think I am a failure.

Many people that have the same path, do not look at it this way. I know that I got into each business because I saw a short term gain, and WHY NOT. Same as a job with less rules. I do not like rules, or being told what and when to do it.
Ask yourselves this... Are you a failure? Or have you just not found what it is that you will take on for the long haul?

[SIMPLEROBB]

Congrats to R.

[Rich & Sunny]

Thanks for sharing ZingerInt...

Good point on the last sentence
of the last paragraph question

[NTSMotivations]

I had a few businesses fail...scratch that... miss the mark. I don't feel it's possible to fail at anything. I feel that when a business does not reach its intended purpose, it is just feedback. It is a flashing beacon of "something I'm doing isn't working", "it's time to do it differently."
I have grown the most from the lessons taught from my past business experiences. As I make slight adjustments to my business behaviors, things begin to come around and ultimately I reach success.

[Young Money Investor]

ZingerInt - nice post.


From age 16, my cousin and I have been trying MLM - never with any luck (has anyone tried Zango?)

At 20, we got wise and tried a staffing/recruiting/head hunting company. We pulled 90k a month average for 3 months at the climax of the business.

How did we "fail"? - agree with NTSMotivation on this one, it's not a fail, just didn't go the way we wanted

We worked with friends and were too young to be managers.

[haroldhundreds]

Never tried MLM because I didn't know how to market it. So I started looking for people in the business who have a good marketing system and then I could market just about anything.

[Jenie0109]

you might want to read this why Entrepreneurs Fail...

[Proph]

i think why some people see it as failure (i agree with you zinger) is because of the "sucesses" out there. If you aren't in your garage starting microsoft or google you aren't a "success". You can't really quantify "success" but when most people know how two college kids started a microsoft or ebay and your current business makes only a few hundred grand, you can understand how they see that as a failure. I don't think it is but alot of people will compare things they know about. they know about google then they know about your business and if you put those two side by side, yeah your business isn't looking so great. americans tend to have the "hit a home run or bust" mentality.

[mthomas]

I had a few businesses fail...scratch that... miss the mark. I don't feel it's possible to fail at anything. I feel that when a business does not reach its intended purpose, it is just feedback. It is a flashing beacon of "something I'm doing isn't working", "it's time to do it differently."

Wow I really love that outlook. I really think that is the best way to look at failure--a learning opportunity to change and tweak what you are doing.

I believe quite a few of my businesses can be considered failures and successes both at the same time. I had to close my first business I started at 15 because I didn't have enough time to run this business (which wasn't making a lot of money), have a job and go to school. While it didn't make me rich (as I had hoped it would do at that age), I enjoyed a 1000% ROI during the few years that I was in business, which I was very proud of.

Some other businesses have been slow to grow but require persistence and work. So while it can be seen as a "failure" in that they have been a bit stagnant, I see it as a success in that I have learned that they just require more persistence and attention; and I am far from giving up on them.

[anilpank]

Wow, great comments regarding definition of failure. I would say that everybody can't become a Microsoft and Google but I can firmly say that in the coming years you would see something bigger than google happening.
In my opinion a business is successful not only when it starts generating handsome revenues but also when it changes life of people in a positive way.

[SIMPLEROBB]

i think why some people see it as failure (i agree with you zinger) is because of the "sucesses" out there. If you aren't in your garage starting microsoft or google you aren't a "success". You can't really quantify "success" but when most people know how two college kids started a microsoft or ebay and your current business makes only a few hundred grand, you can understand how they see that as a failure. I don't think it is but alot of people will compare things they know about. they know about google then they know about your business and if you put those two side by side, yeah your business isn't looking so great. americans tend to have the "hit a home run or bust" mentality.

Well put P. Well put

[erikko]

How hard it is to go back and put up the pieces of your business?

[pboychuk]

MLM is stupid, end of story, although my parents still get a pretty check from scamway, after dedicating 10+ years to it. and being able to go to 5 star hotels on a regular basis while growing up made for a great childhood. But otherwise, I would classify doing MLM right below working for the man

[CybFun.com]

I've never failed so far.