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Did anyone else screw up in business so bad that they are stuck in the slowlane?

Discussion in 'General Entrepreneur Discussion' started by MoreValue, Oct 8, 2018.

  1. MoreValue
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    MoreValue Contributor

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    I am making this thread to make myself feel better, but yeah I am currently stuck in the slowlane now due to taking on the fastlane. I took 100% and went all in. I have lost so much. At this rate, my failed fastlane venture has made me an indentured slave. I can’t count how much I have lost, but I pretty much just locked myself in slowlane slavery for what it seems a lifetime...
     
    SYK and throttleforward like this.
  2. Andy Black
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    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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  3. Conrad
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    Conrad Contributor

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    Been there, still struggling, but if you don't fail, you dont learn. Next time you won't make the same mistakes, as long as you have your end goal. Try investing 10-25% instead of all-in. Look for Kelly criteria ;-)
     
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  4. throttleforward
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    throttleforward Platinum Contributor FASTLANE INSIDER Speedway Pass Summit Attendee

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    Yep :) I continue to owe tons of money from my failed crate rental business (no to me tion lingering health and marriage issues). I have been fortunate to have a decent-paying day job and have excelled there, but I feel the pain of that failure regularly.

    The key, however, is to get back up and try again. I suggest reading this: https://www.amazon.com/Success-Through-Positive-Mental-Attitude-ebook/dp/B0030HKYUG

    You can find free PDFs of it online.
     
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  5. Bryan James
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    Bryan James Bronze Contributor Speedway Pass

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    Happens to the best of us. What doesn't kill you makes you stronger. Business is not a lottery and failure is a certainty in all business endeavors. The point is to learn from your mistakes and make the necessary changes next time.
     
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  6. Lex DeVille
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    Lex DeVille Sweeping Shadows from Dreams Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Yup, several times. But no slowlane prison can hold me. Escaped more times than I can count. Got good at it. Now I just work on evasion skills. Pretty good at that now too.

    :D
     
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  7. LaraJF
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    LaraJF Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    I'm still in big credit card debt and have been looking for a job to get it paid off while still working on one business model. It happens.
     
  8. scott wisniewsk
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    scott wisniewsk Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    What doesn't kill you makes you stronger and you learn a lesson . I have some painful lessons learned . It can be like the school of hard knocks . That school is free but its going to cost you .
     
  9. Shirkahn
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    Shirkahn Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER

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    I know that feeling all too well!!! But I have stopped looking at it as having lost all my savings, created bad credit or simply thrown money down the toilet. I call the school fees!

    So learn from your mistakes and make such those school fees are recouped.

    I am currently also recovering from a failed a sale of my business. Basically I sold it being confident the new owner would run it like I did and he could simply pay me off over time while I go on a sabbatical and start looking for new ventures. Well, it turns out he couldn’t run the business and couldn’t pay me anything and instead forget to sign over surety that’s now left for me to fight in court.

    I must be honest these have been my highest school fees ever and I am coasting in the slow lane right now but only until I grab that next opportunity.

    Don’t regret it - learn from it.
     
    Dramolion likes this.

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