TheJVConnector
New Contributor
I’ve been an entrepreneur since I was 5 years old and selling crayons. But, I’ve been supporting myself as an entrepreneur for almost 7 years.
I will be 25 in January. I’ve been paying my own way from businesses I’ve started since I was 18. I even paid my way through my last two years of college.
Last year my longtime B2B marketing agency failed. It crashed and burned. We were a cold email agency that ran cold email campaigns for marketing agency’s. It’s a long story, but essentially Google started blocking the sending softwares we depended on.
I closed the business in August 2019 after refunding the 30 clients we had at the time and laying off my team of 6. Because I had reinvested every penny in the business and only paid myself $1,500 a month to cover my expenses, there was nothing left for refunds. So, I took out a loan and after the loan was used up by refunds I told everyone remaining to file disputes with PayPal, which they did.
I was left with $77k in debt. I’m now at $57k. I was able to negotiate $10k off and have spent the last year paying another $10k off.
The issue is I’m just in a really, really deep funk.
With my last business I had people throwing money at me and was doing $40k a month. Now, I can’t even get to $2k a month that I need to pay my rent and make the debt payments.
I’ve even tried starting a new business doing what my last business did but found that $3 an hour Virtual Assistants have filled the market now that sending softwares don’t work.
I’m just in a situation where I’m constantly chasing money to make the next payment. I HATE it. I can’t dedicate any substantial amount of time to any one business because if it doesn’t make money quick enough I have to move on.
I will be 25 in January. I’ve been paying my own way from businesses I’ve started since I was 18. I even paid my way through my last two years of college.
Last year my longtime B2B marketing agency failed. It crashed and burned. We were a cold email agency that ran cold email campaigns for marketing agency’s. It’s a long story, but essentially Google started blocking the sending softwares we depended on.
I closed the business in August 2019 after refunding the 30 clients we had at the time and laying off my team of 6. Because I had reinvested every penny in the business and only paid myself $1,500 a month to cover my expenses, there was nothing left for refunds. So, I took out a loan and after the loan was used up by refunds I told everyone remaining to file disputes with PayPal, which they did.
I was left with $77k in debt. I’m now at $57k. I was able to negotiate $10k off and have spent the last year paying another $10k off.
The issue is I’m just in a really, really deep funk.
With my last business I had people throwing money at me and was doing $40k a month. Now, I can’t even get to $2k a month that I need to pay my rent and make the debt payments.
I’ve even tried starting a new business doing what my last business did but found that $3 an hour Virtual Assistants have filled the market now that sending softwares don’t work.
I’m just in a situation where I’m constantly chasing money to make the next payment. I HATE it. I can’t dedicate any substantial amount of time to any one business because if it doesn’t make money quick enough I have to move on.
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