Learning From Business Mistakes

Business Card (png file) (Photo credit: docpop)

My logistics business was my first official entrepreneurial venture. Starting in January of 2005 I left my retail management job to get my MECP (mobile electronics certified professional) certification. Upon completion of my certification I returned home and with the help and support of my family and friends financed the start-up of a small store front and installation bay on industrial eastside of town. The majority of my clients were young car enthusiasts.

My business opened it’s doors and after a challenging five months was promptly shut down. Where did I go wrong? For starters, the lack of a business plan, I mean I had absolutely nothing written down, no plans for success, no market analysis, no competitive analysis, no projected sales, nothing. Second of all I got caught up in living the dream, no more boss, just me, calling the shots, doing it how I want, when I want on my own terms. Well Mr. Big Shot somebody has to be able to pay the bills, oh yeah and who’s going to do all the work? I contracted two employee’s one who specialized in car alarms, and the other in vinyl graphics, while I handled custom speaker enclosure fabrication, stereo, speaker installation and mobile video.

Would I do it all over again? For sure I would, it was “one of the best failures of my life”! I have absolutely no regrets, I have always been able to see the silver lining every dark cloud. “Everything always works out” is what I always tell myself and somehow it does, I wont let this fool me into beliving that I can jump off a cliff and expect to land on my feet. Closing up shop, and failing miserably may not seem like working out to you, but it was a necessary experience that made me stronger and wiser. So yes I will do it again, but this time I will be prepared, I will work both smarter and harder, I will Build a better site and a Better World. Since then I have taken proactive steps in starting up a new logistics page and I will communicate and collaborate with a community of entrepreneurs who have faced adversity, failed and come back for more, and ultimately reached their goals and built successful businesses.

The entrepreneurial bug keeps calling me, stronger and louder each time, when I do answer the call again I will make sure that I am ready.

Dream Big, Take Action, and Make a Difference.

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