This is a guest post by Steve Rice from Karmic Kappuccino.
I suck at running a business! But I’m becoming a better entrepreneur.
How? By doing it.
I am much better than I was a few years ago.
Why? Because I bankrupted my business. (Is it bankruptcy if it was never solvent in the first place?)
You do not have to do it the way I did. Here are three basic lessons that I learned that I am applying to my new business.
They are common sense, and they are nothing particularly “new†or “flash-in-the-pan†but that is probably one of the reasons they work!
1. Make Your Business Pay (from the start)
2. Focus, Focus, Focus
3. Lead Your Tribe!
LESSON ONE: Make Your Business Support Itself
As an entrepreneur, it is easy to look at the world through rose-colored glasses. We always see the “glass half full,†and that is important; however, this trait can also lead to the destruction of our company.
So, dream as big as you can. Attempt as wildly as you dare, but make the business pay for itself. This principle is loosely based on advice from finance guru, Dave Ramsey. He says that a business is just a hobby until it makes money.
Making money means cash in hand AFTER all expenses and capital outlays have been accounted for (net gain). Just because you had $200 in revenue (gross), does not mean you made money.
I know this sounds silly and even simplistic, but I ran a massage therapy clinic “hobby†for two years this way, hoping that if I kept feeding it cash, it would magically become a business and start feeding me.
It is a lot more fun to run a business that is making money. Believe me!
LESSON TWO: Focus, Focus, Focus
Creative, big-picture types (i.e., me) tend to like to wing it. Our motto is “flying by the seat of my pants.â€
Flexibility is essential to running a successful business, but so is focus. There will be plenty of occasions that will require you to wing it. Do not buy into extraneous distractions, which could devastate your productivity and profits.
You have to focus on 3 main things in business:
- Your Mission
- Your Message
- Your Market
Look, ma…I alliterated! (Sorry, my mom’s an English teacher, so these things happen sometimes)
You must know your mission! Know your ‘why’. This makes it so much easier to filter opportunities that will come to you which may become distracting to your purpose.
Without clarity, I noticed that I sometimes struggle with business decisions. I feel guilt, stress or uncertainty. A clear sense of mission alleviates those pressures. (It also keeps me from jumping when the flash of a new opportunity catches my eye, just because it is new and “shinyâ€).
Know your message. What are you saying to the market and why? Be clear about how you are communicating your mission. Be able to articulate your message to those who are looking for it.
As an entrepreneur, this is vital. A million people may be exposed to your brand; but if you cannot effectively connect to them, they will move on, even if your message is one that will serve them better than someone else’s.
Connect to your market. This is essential and should go without saying. Most of us spend all (or most ) of our time trying to connect to our market. This is what we traditionally think of as “marketing.†These efforts are ineffective, however, if we have not focused on the first two elements—mission and message—sufficiently.
LESSON THREE: Lead the Tribe
This principle comes directly from Seth Godin’s book, Tribes.
Notice, I didn’t say, build a tribe. For far too long, this is what most businesses have done—attempted to build a tribe—through coercion, manipulation or bribery.
In Tribes, Seth says, “Every…tribe is a movement waiting to happen, a group of people just waiting to be energized and transformed. A movement is thrilling.†(p. 5)
Why was President Obama’s 2010 election so thrilling to millions of people? It was because they felt like part of the tribe. He, better than anyone in recent memory, was able to energize and transform the tribe into a block of willing voters. (This is not a political analysis, but merely as sociological one)
Seth wraps up his discussion of leading a movement with these words: “All that’s missing is leadership.â€
So, let me ask you—have you connected to your tribe? Are you providing them the leadership for which they are longing? You can do this! It isn’t rocket science, but it takes guts!
TAKE AWAY: “Just Do It!”
You are not just an entrepreneur, you are a leader! Remember to convert your business from a hobby by making it support itself from the beginning. Even if your products aren’t 100% perfect, ship them out the door. Jump into the market place with ideas and solutions. Be willing to learn as you go.
Focus, like a bulldog, on your mission and your message. And be sure to show up for your tribe. We are waiting to join your ranks. We are ecstatic with the thrill of your potential. Come lead us as only you can!
I am a speaker, writer and small business owner. I have worked in the healthcare field, building a staffing business and a massage business. My most recent endeavor is SR Communications which is launching my first book, An Imperceptible Spark: Finding the Courage to Live a Life of Joy in Spring, 2011.
[...] 3 Lessons I Learned From Failing In Business tells some of the pitfalls I have experienced as a small business owner and how to avoid them in your life and business. [...]
Stacy,
Thanks so much for the opportunity to share my experiences with your readership! You’re a joy to work with!
Steve @ Karmic Kappuccino invites you to read… My First Guest Post!
[Reply]
Stacy Reply:
April 25th, 2011 at 3:48 pm
Thank you, Steve, for such a great article! You were wonderful to work with too, you are welcome to guest post again any time!
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Good, simple, conscise advice, Steve. As I’m starting my own business I’m searching for others who have been successful at it to learn from their – good or bad – experiences. Thanks for sharing the post.
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Steve Reply:
April 25th, 2011 at 9:29 am
Johnny,
First, I wish you the best of luck with your business. I hope this post provided some basic advice that will be a good guideline for you as you get deeper into your journey. Thanks for stopping by and chiming in.
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Steve, great article and I loved your honest. There is a very important lesson about revenue, cash flow, and profitability. I know, because I learned the hard way, too. It’s not very sexy to discuss this but if you don’t understand the basic fundamentals of financials your business won’t last very long.
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Steve @ Karmic Kappuccino Reply:
April 25th, 2011 at 9:27 am
Exactly, Sherrie! The basics are not the fun and thrilling parts of business, but ignore them at your own risk.
Steve @ Karmic Kappuccino invites you to read… Addicted to Drama
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I totally agree with and can relate to what you said about a business being a hobby until it makes you more money than you have put into it. Great point!
So if that hasn’t happened yet, it’s important to figure out why so you can make the changes that will get you into profit.
Great post, Steve!
Jeanine Byers Hoag invites you to read… How to not Get Bored w- Your Clothes During a 30-Day Wardrobe Challenge
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Thanks, Jeanine. Sometimes that’s the most difficult part of the transition…learning to ask for money. Especially if we’re passionate about the work we do…and even more so, if the work is something we do, ultimately, to help others.
I don’t know why many of us in service industries feel uncomfortable for asking for a wage for our services and the help we provide to others.
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Very good, Steve!
It’s worth printing and posting in my working wall.
Gustavo@frugal science invites you to read… Creativity is already inside of us
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Steve @ Karmic Kappuccino Reply:
April 25th, 2011 at 9:52 am
Thanks for the support, Gustavo. I’m so appreciative.
Steve @ Karmic Kappuccino invites you to read… The Miracle of Your Own Existence
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Hi Steve,
Super practical tips here.
Hold a grand vision in mind then proceed to do what it takes to make the vision a reality. This means 1 part dreaming, one part doing. I lacked in the doing department for quite a while; not so much a lack of effort but I neglected to intelligently plan my campaign.
When I got the planning down I naturally led my tribe and did all the other things that you mentioned.
Thanks for sharing!
RB
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Steve Reply:
April 25th, 2011 at 1:26 pm
Thanks, Ryan.
That’s interesting. I kinda did the same thing. I figured I could “wing it.” Not planning…truly planning well…really set me back and I didn’t realize it.
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I like Thomas Edison’s quote, “I haven’t failed, I’ve found 10000 ways that don’t work.” While quotes and platitudes don’t replace blood, sweat and tears they are good reminders that much can be learned from failure.
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Steve @ Karmic Kappuccino Reply:
April 25th, 2011 at 1:28 pm
Thanks for chiming in, Jack! I really appreciate it. You’re right, platitudes don’t replace effort, but they do sometimes give us perspective when we’re in the middle of the “hunt”.
Steve @ Karmic Kappuccino invites you to read… Are You A Control Freak
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Great post! My biggest problem is that I don’t have a product, therefore it’s hard to turn it from a hobby to anything more, no matter how devoted I am. Right now, I’m trying to learn how to do that and execute the plans!
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Steve @ Karmic Kappuccino Reply:
April 25th, 2011 at 1:31 pm
Thank you so much, Heather!
You didn’t mention what your hobby is. There is no problem having a hobby (and keeping it as a hobby). The point I was hoping to make was that sometimes we start a “business” and treat it like our hobby.
We keep pumping money into it with hopes that it will produce cash for us, without being realistic about what it is.
Feel free to contribute more to this conversation. Would love to hear about your hobby and what it is you enjoy doing.
Steve @ Karmic Kappuccino invites you to read… What Do You Expect
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Heather Reply:
April 25th, 2011 at 1:38 pm
My “hobby” is building an online ministry. I don’t expect to ever make millions at it (that would be what I hope for my writing once I’m a published, famous author, LOL) but right now I’m facing the issue of wanting to operate it as more than a hobby while it makes no money.
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Steve Reply:
April 25th, 2011 at 1:43 pm
Ah. That makes sense. Well, I think that there are a few directions you could go to help create income. Here are a few off the top of my head.
1. A book club/book review (with Amazon affiliate links)
2. An e-book (devotionals, quote/thought of the day, uplifting…ala Joyce Meyers)
Wouldn’t perhaps create a TON of cash, but would get you started. The e-book will be the easiest and is almost pure profit. I would really encourage you to consider it.
Best of luck. Keep me posted if you decide to pursue any of these ideas or come up with some of your own.
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Steve. aloha. What a terrific post. Your candor made me smile and your content was on the mark.
Having owned many different businesses over the years, I truly appreciate your comments on 1 & 2. It is amazing how often we think that if we keep “feeding the business cash” and “show up,” it will turn into a viable business. If money & showing up were all it took, we would hear about far more success stories.
Steve, judging from your “Tribes” quote & “ship them out the door,” it sounds like you too are a Seth Godin fan. As it relates to “Tribes” & being a leader, here is my favorite:
“If you hear my idea but don’t believe it, that’s not your fault; it’s mine.
If you see my new product but don’t buy it, that’s my failure, not yours.
If you attend my presentation and you’re bored, that’s my fault too.
If I fail to persuade you to implement a policy that supports my tribe, that’s due to my lack of passion or skill, not your shortsightedness.
If you are a student in my class and you don’t learn what I’m teaching, I’ve let you down.”
No doubt about it, Steve, you are well on your way to becoming BOTH an entrepreneur and a businessman.
Best wishes for a terrific week. Aloha. Janet
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Janet,
Thanks for your kind words. I am really glad that this post was a benefit to you.
I definitely fell into the delusion of believing that the business would grow no matter what activities I was taking…even if the activity wasn’t productive. Strange how that happens.
I am a fan of Seth G. I love the way he thinks.
Really appreciate your kindness and the encouragement regarding my business.
Steve @ Karmic Kappuccino invites you to read… Addicted to Drama
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Those lessons might be basic, but a lot of us missed them starting out. Leading is the most difficult of them for me.
Thanks for your honesty and openness in this post. It’s a great example of how one failure absolutely doesn’t mean the end of the world, or the end of our business-building efforts. We can learn lessons, keep going and build better.
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Steve @ Karmic Kappuccino Reply:
April 25th, 2011 at 8:43 pm
Michelle, Thanks for stopping by. You’re right. I had to learn these the hard way. I still have to stay focused on them…I remember a basketball coach in HS screaming “Fundamentals! I don’t want to see anything but fundamentals!” Good advice for business too.
Yep, failing is a path to better success. It took me a few years to work through it, but now I have greater confidence and understanding of the fundamentals.
I’m the same way. Leading is the hardest for me. But I’ve started to realize that Seth G was right in “Tribes”. People are waiting to be led.
When I believe in my message and my purpose, I find that I’m leading without realizing it. People line up to follow someone who’s moving forward. Another key I learned tonight is that clarifying what we want our ‘tribe’ (followers, etc) to do is essential. Many people want to help, but I know I’m just not clear enough on how they can help.
Steve @ Karmic Kappuccino invites you to read… Life is Choose Your Own Adventure
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Hi Steve,
Glad to see you’re doing guest posting here.
These are super awesome tips mate. I love the point #2 about Focus. It is very important to know your why, message and market.
Thanks for sharing!
Dev
Dev invites you to read… How To Get Long Laster And Targeted Traffic From Twitter
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Steve @ Karmic Kappuccino Reply:
April 25th, 2011 at 10:00 pm
Dev,
Thanks so much for you support here and on blokube as well. Really appreciate you welcoming me so readily to the world of the blogosphere. Even though it’s only been a couple of months, I feel really supported.
Focus is one of the biggest challenges I have faced as I’m launching my new business ventures. I’m glad it resonated with you as well.
Steve @ Karmic Kappuccino invites you to read… Are You A Control Freak
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I loved the honesty and humility in this post, Steve! You have a knack for making people listen to you and reflect on your thoughts because you provide so much value in what you say! =)
I’m a newbie businesslady myself and find these tips very valuable. I especially liked the distinction between having a hobby and a business. I think I’m sitting on the fence between the two and probably more leaning towards a hobby at this point. =P
I needed this kick in the butt! =)
Samantha Bangayan invites you to read… Are You a Bystander
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Steve @ Karmic Kappuccino Reply:
April 26th, 2011 at 9:53 am
Samantha,
I really appreciate the kind words and I’m glad they connected to you. I really hope that my experiences can save you some of the disappointments that I went through in establishing a business. Remember the fundamentals. Learn to do that well, and the rest will start to take care of itself.
We’re in contact on Twitter, etc, so be sure to contact me directly if I can ever be of assistance.
Steve @ Karmic Kappuccino invites you to read… The Power of Personal Awareness
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Hi Steve, a great guest post and thanks for being upfront! As a coach and hearing other coaches it’s hard to ask for the money and like you have clearly stated, that means what we are doing is a hobby and not a business.
How did you overcome the resistance to asking for money and what can a person who is new in building their business do to start making an income from the get go?
I think you said it best when you say, just do it. I am new to the world of blogging and by just doing, I am learning a lot. It’s not about being perfect because by making mistakes you grow and become better at what you do.
Diana Simon invites you to read… Acknowledge Your Blogging Success
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Steve @ Karmic Kappuccino Reply:
April 26th, 2011 at 10:05 am
Diana,
Thanks for stopping by. It is hard to ask for money in a service industry (my previous business was massage therapy).
I once had a chiropractor who wanted to pay me $10/hour to do chair massages out in the sun (for a summer festival). I told him no. My hourly rate was $60. He huffed and puffed saying, “Well, fine, then…if you can afford to turn away business!”
The truth was, I couldn’t, but I also knew what my skills were worth and I didn’t want to get in a place of devaluing my skills because of someone else’s manipulation and bullying. That was my lesson to learn.
Yours may be different. Here are some tips.
1. Value your ability. What are your skills/guidance worth in the real market? Check out other coaches, etc.
2. Work to increase your estimation of your value. This is more inside work…focusing on self-esteem in regards to your business. (I still work on this with my new business—speaking and writing—because it was hard for me to place value on what I do naturally)
As far as starting out to make an income from the “get go,” it’s all about creativity, IMO. When I started speaking, I looked for any organization that might need speakers. I did luncheons for church groups (at $100 for a 1/2-hour luncheon talk…not bad for starters). I did speeches for nursing home personnel.
The key is to connect to your market. There are LOTS of people out there who want what you have to offer. And now, more than ever, we have tools to reach them (social media, etc). This really comes down to knowing your market.
For example, if you’re a coach, maybe you can’t start at $100/session. But can you find 10 business owners who will pay $10 for a group session on overcoming obstacles? Can you find 10 people to pay $10 on a group session on how to improve their relationships. (I bet you can)
So, all that to say, find your market and customize your products and tools to meet the market. Hope that helps.
Feel free to contact me directly on Twitter or FB if I can be of further help
Steve @ Karmic Kappuccino invites you to read… The Power of Personal Awareness
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Hi Steve,
Wow…You’ve got my wheels turning. Tips 1-3 resonates with me. I’m still wet behind the ears with all of this and as I can see I have a lot to learn.
For the past year I have been working my business Pro-Bono. About a month ago I finally decided to set a price and I am still working putting together an eBook but at this time I don’t know what to write about.
I loved the advice you gave Heather.
Thanks for shearing, that was great.
~Tisha
Tisha invites you to read… Top 5 Plugin Review-Turn Your WP from Drab to Fab
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Steve @ Karmic Kappuccino Reply:
April 26th, 2011 at 10:12 am
Tisha…how exciting! “Wet behind the ears” is sometimes the best place to be…cuz you don’t know what is possible or not for you.
I’m still “wet behind the ears” in the publishing industry…but you know what? I’m about to release my first book in a few weeks. I still don’t know what the heck I’m doing, but I’m having a blast doing it!
Let me just add to the advice I gave Heather…and it’s a lesson I’m just learning myself…When you’re creating products, find out what your market or “tribe” wants from you (it’s often really different than what you think they want).
For example, I just wrote a book and am releasing it as a printed book, e-book and audio. The next one I do, will be e-book only. I’m going to let the market tell me if I should produce a printed version, etc. If I sell a certain number of copies as an e-book and have a “tribe” of people passionate about it, then I’ll produce a printed version and let that “tribe” (who’s already excited about my work) help me connect with others in the market who want the same value they got from the e-book version.
Hope that makes sense. Keep up the good work and connect with me on FB or Twitter so I can see what you produce!
Steve @ Karmic Kappuccino invites you to read… The Power of Personal Awareness
[Reply]
Tisha Reply:
April 27th, 2011 at 5:12 am
Yes Steve, It makes a lot of sense. And I will definitely connect with you, don’t hesitate on giving me positive criticism. I am like a sponge right now, soaking up as much as I can.
~Tisha
Tisha invites you to read… Top 5 Plugin Review-Turn Your WP from Drab to Fab
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Hi Steve,
thanks for sharing your experiences so openly. I agree that only a busines that makes money can be called a business, otherwise it’s a hobby. Focus and clarity are also very important. People who don’t know what they want can’t get what they want and they are unable to focus. Clarity is power.
Take care
Oliver
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Steve @ Karmic Kappuccino Reply:
April 26th, 2011 at 10:13 am
Oliver,
Thanks for your insight. I always enjoy your blog and the wisdom you share from the experiences you gain. I love your statement: “Clarity is Power”. I might have to steal that and put it on a plaque in my house!
Steve @ Karmic Kappuccino invites you to read… The Power of Personal Awareness
[Reply]
Awesome. Love the simplicity of this Steve.
Obviously these three points are easier said than done, but nonetheless if we set a clear intention to build a business bearing them in mind, we’ll be moving in a very different direction to the ‘seat of our pants’ approach.
The take-away is perfect. Whatever it is we do, you have to simply begin. It’s the getting involved and taking action – any kind of action to begin with – which reveals the lessons to be learned and turns our dreams from an idea into a reality.
Thanks mate, and thankyou Stacy for hosting this great post!
All the best,
Jym
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Steve @ Karmic Kappuccino Reply:
April 26th, 2011 at 10:15 am
Jym….
Thanks for your kind remarks. I don’t think I’d come across your blog yet, so I’m looking forward to connecting.
I’m so glad that the take away from my experiences resonated with you. And you are right…it is easier said than done, but that’s the fun of this adventure we call “life”! Best regards!
Steve @ Karmic Kappuccino invites you to read… The Power of Personal Awareness
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Hi Steve,
That must have been a real downer, but you did what any entrepreneur should do and learned from your experience. Great job with your explanation.
Steven Schmeltzle invites you to read… What Is TribePro And Who The Heck Needs It
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Steve @ Karmic Kappuccino Reply:
April 26th, 2011 at 10:17 am
You’re absolutely right, Steven. It seemed like a downer at the time. Believe me, it’s not fun to go broke, but now several years later, I have the wisdom and I can share what I learned to help lots of people. So it makes it worthwhile!
Thanks for your input and stopping by to read my post. I appreciate it tons!
Steve @ Karmic Kappuccino invites you to read… The Power of Personal Awareness
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Great post Steve and boy can I relate. I honestly had no clue what I was doing when I first started online several years ago. I had heard that phrase numerous times that it’s just a hobby unless you are making money. But like many, it was hard to ask for money. I have no problem now!
Thanks for sharing your experience with us and giving us such a clear recipe for what it really takes. Enjoyed your post.
Adrienne
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Steve @ Karmic Kappuccino Reply:
April 26th, 2011 at 10:19 am
Adrienne,
You’re an inspiration because you’ve actually done it. Many of us are on the way to where you are already. Congrats on your success. I know you’ve worked hard for it.
It is strange that once you get used to asking for what you’re worth, it becomes easier.
I really appreciate you stopping by and contributing to this great conversation.
Steve @ Karmic Kappuccino invites you to read… The Power of Personal Awareness
[Reply]
Wonderful lessons here. Taking action is the best step, but like you said, wrong actions can be devastating.
Bill Gelwick invites you to read… Big MLM Tip of the Day Time Management – Productive Tasks
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Steve @ Karmic Kappuccino Reply:
April 26th, 2011 at 4:07 pm
Thanks, Bill! You are right. Inaction is debilitating, but taking wrong action can set one back with one’s goals. That’s why I think contend that knowing your “mission, message, and market” is essential. Thanks for stopping and contributing to our conversation. I appreciate it.
Steve @ Karmic Kappuccino invites you to read… The Power of Personal Awareness
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Bravo, Steve!! Thanks for laying out these essential elements so clearly. It can be overwhelming at times so this practical advice is so important and helpful.
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Thanks, Earl. You’re right. It is overwhelming…especially if you’ve never done this before. Glad you found this advice helpful.
Steve @ Karmic Kappuccino invites you to read… The Power of Personal Awareness
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Steve,
Great wisdom and we appreciate you openly sharing your experiences with us. Failure is all a part of the game but I admire you just picking up, brushing off, and moving forward.
Keep up the momentum and best wishes on your future endeavors.
Jon
Jon@Business Ideas invites you to read… The Skinny on Ways to Fatten Your Wallet Doing Business Online
[Reply]
Steve @ Karmic Kappuccino Reply:
April 26th, 2011 at 9:18 pm
Jon, thank you for your input. I appreciate those who’ve stopped in to give such great positive feedback on my first guest post. It means a lot.
Thank you for the well-wishes and best of success to you as well.
Steve @ Karmic Kappuccino invites you to read… The Power of Personal Awareness
[Reply]
Hi Steve,
Kiss ass post. You really want us to take action immediately after reading the post right?
Well, I completely agree with your points and it is so true that tribes make a lot of difference. I must admit that my blog’s success started to creep in once I became involved in tribes.
Thanks for the wonderful post.
Cheers,
Jane.
Jane@Make money blogging invites you to read… Effective Blog Commenting to build high quality backlinks
[Reply]
Steve @ Karmic Kappuccino Reply:
April 26th, 2011 at 9:17 pm
Thanks, Jane. I really appreciate it. It is true that we have to connect with others to make our way.
It is amazing how much connecting to others who are seeking for our point of view or perspective really enriches the lives of all members of the “tribe”.
Thanks for joining this vibrant conversation!
Steve @ Karmic Kappuccino invites you to read… The Power of Personal Awareness
[Reply]
Hi Steve!
We really learn a lot from our mistakes. And, it’s really in failing that we learn things well. Its impact in our lives gives a lasting effect that we could never forget and know better next time what NOT to do.
Thanks for sharing your experiences with us as well as the lessons that you have learned from it!
Elmar Sandyck invites you to read… Still On Good Manners in the Digital Era
[Reply]
Steve @ Karmic Kappuccino Reply:
April 27th, 2011 at 10:13 am
Elmar, Thanks for stopping by and reading my post.
You’re right, failure is a great teacher. I’m glad that I do have the refined skills to be more successful next time!
I appreciate you joining our conversation here.
Steve @ Karmic Kappuccino invites you to read… Power of Response-Ability
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Wow, Steve – these are solid lessons. I really liked that part where you advice to move the business from a “hobby” to supporting itself.
Thanks for sharing.
Stella @Write eBooks Fast invites you to read… 9 Effective Ways to Increase Targeted Traffic to Your Blog or Website
[Reply]
Steve @ Karmic Kappuccino Reply:
April 29th, 2011 at 10:17 am
Thanks for stopping to chime in, Stella. I appreciate it. It is sometimes a challenge to transition to a business.
Steve @ Karmic Kappuccino invites you to read… Power of Peace
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Hey Steve,
Awesome guest post man. Kudos!
Learning from experience they say is a great teacher, but I believe learning from others experience is definitely better because it saves a lot of pain.
I especially love FOCUS because in this most amazing online world it is so easy to get distracted and to start engaging in fruitless activities that bring about no result.
This is to more great guest posts, Steve!
Cheers!
Tosin
Tosin@Home-Based Business Coach invites you to read… Automated Tools- Stop Hiding Behind Automation
[Reply]
James H Reply:
July 20th, 2011 at 6:41 am
Tosin, i agree with you, Experience is the best teacher, and if some one elses experience teaches you a thing or two, nothing can be better than that!
James H invites you to read… new driver insurance
[Reply]
Tosin,
You’re absolutely right. It is easy to become distracted so easily from the fundamentals of business by all the things going on around us.
Thank you for your contribution to the conversation here.
Steve @ Karmic Kappuccino invites you to read… Power of Peace
[Reply]
[...] 3 Lessons I Learned From Failing in Business – Guest Post by Steve on Grow With [...]
[...] that time, I have had the good pleasure to publish my first guest post (3 Lessons I learned from Failing at Business) for my friend, Stacy at Grow with Stacy. We have grown in readership significantly and have [...]
Thanks for this helpful post. I am looking into more of the links that you have shared.
I use free advertising sites. One that I have found useful for local advertising is Gumtree.
We have definitely seen an increase in interest in our business. I have seen people make it and break it so far this year. It can be a testing time for some but fortunately our team is growing stronger than ever.
I wish you all the best too. Thanks for sharing your tips and inspiring other marketers to see the light!
[Reply]
[...] http://growwithstacy.com/2011/04/25/3-lessons-learned-failing-business/ – Steve Rice [...]
What really makes me your fan is the way you put things about your life so vividly and without hesitating. And yes, this is what makes me like your writing.
Though people like to keep their failures in the closet, you like to share them, and what you have learnt from them. I must say that you are very very generous at heart.
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Steve @ Karmic Kappuccino Reply:
May 30th, 2011 at 8:26 am
Thanks, Joshua. I’m grateful my “failures” can be a source of inspiration to you.
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Joshua@Plumbing training Reply:
June 20th, 2011 at 10:39 pm
Its not about failures or anything. Its all about learning from other people’s experiences-both good and bad. I am glad you chose to bring out the bad ones!
Regards
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I must say Joshua, not many people talk openly about their failures. You have given a concise picture of life through your experiences. I read your blog and I appreciate your views. Best of luck Joshua.
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Links for the day!…
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It should be noted that all people can make mistakes. Err is human. So, probably you will fail several times before to become a successful entrepreneur. The most important is not to fail into despair, but analize mistakes properly and draw the correct conclusions. That is the best way of an entrepreneur to success.
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As Kyosaki said and felt… every business man must go broke atleast three times before he is mature enough to keep it’s business from falling again.
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I think these lessons can change failure into success.
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Keep on staying positive and emitting your high energy. No matter how things appear to be, remember, it’s all energy, and the higher energy you are the more you dissolve any part of you that isn’t in harmony with your divine nature.
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Thank you for letting us learn from your mistakes by telling us what you have learned from raising your bankrupted business back to life. You mentioned Dave Ramsy, I love his stuff! Also excited to read his new book about businesses.
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Bankruptcy is a fertile teaching ground (I know from experience). Thanks for sharing your personal gems; I’m sure many business people will benefit. For me, I’m off to read Tribes. Sounds like just what I need at the moment….
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Running a business, whether online or offline, is no easy feat. You need passion, persistence, energy and dedication to succeed. The road may be bumpy or you might even take a hard fall. But remember, successful people are almost always optimistic, positive and they never give up.
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i Agree in can be overwhelming at times so this practical advice is so important and helpful. thank you!
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