My first business--a book publishing and sales business--flopped and I shut it down (and closed all of its accounts) this past June.
Two big mistakes I made with this one was getting emotionally attached to it and writing/marketing books there was no demand for. I made the mistake, in my emotional attachment, of creating a product and trying to find someone to sell it to. I'm a thinker by nature, but I believed so much in this that I almost ignored what the market was telling me.
What sucks was the devastation of it. I was a wreck just two months ago. I knew I would dust off and get back up after this failure but it hit me harder than it should have. We all go through this. This will not be happening again. I found there are times when someone can tell you what steps to take in life/business and times where you have to get out into the water and experience things yourself to truly understand and appreciate them.
Not a handful of months removed from this experience does God drop an opportunity in front of me that will get me back into the saddle. One of my best friends--who is a residential real estate investor, mentoring coach, and private lender--recently approached me with a business opportunity in an entirely different industry. The offer was too good to refuse and he decided to bring me in as a partner with himself and a few others. I'm the managing member. Any resources I cannot develop or acquire myself, I can tap his shoulder for. Since in my previous business, I developed a transferable brand name under my LLC, I've attached this brand to my current business. In other words, "ROYOT Books" is now "ROYOT Cellular". I've moved from book publishing to cellular service and phone sales.
What experience do you have in the cellular service industry? None, but I have years of experience in sales, customer service, and IT. Plus, I now have 4 years of recent business management experience. I'm a quick learner, as well. I'll serve the market just fine.
This feels great. When you start walking your path, you get more and more prepared for opportunities. The universe starts to open up and opportunities seem to drop out of the sky, sometimes. Recognizing them and being prepared for them is a learned skill that I will always value.
This is what making your own luck is all about.
Two big mistakes I made with this one was getting emotionally attached to it and writing/marketing books there was no demand for. I made the mistake, in my emotional attachment, of creating a product and trying to find someone to sell it to. I'm a thinker by nature, but I believed so much in this that I almost ignored what the market was telling me.
What sucks was the devastation of it. I was a wreck just two months ago. I knew I would dust off and get back up after this failure but it hit me harder than it should have. We all go through this. This will not be happening again. I found there are times when someone can tell you what steps to take in life/business and times where you have to get out into the water and experience things yourself to truly understand and appreciate them.
Not a handful of months removed from this experience does God drop an opportunity in front of me that will get me back into the saddle. One of my best friends--who is a residential real estate investor, mentoring coach, and private lender--recently approached me with a business opportunity in an entirely different industry. The offer was too good to refuse and he decided to bring me in as a partner with himself and a few others. I'm the managing member. Any resources I cannot develop or acquire myself, I can tap his shoulder for. Since in my previous business, I developed a transferable brand name under my LLC, I've attached this brand to my current business. In other words, "ROYOT Books" is now "ROYOT Cellular". I've moved from book publishing to cellular service and phone sales.
What experience do you have in the cellular service industry? None, but I have years of experience in sales, customer service, and IT. Plus, I now have 4 years of recent business management experience. I'm a quick learner, as well. I'll serve the market just fine.
This feels great. When you start walking your path, you get more and more prepared for opportunities. The universe starts to open up and opportunities seem to drop out of the sky, sometimes. Recognizing them and being prepared for them is a learned skill that I will always value.
This is what making your own luck is all about.
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