How Many Businesses Must a Man Fail...

[GIlman]

Hopefully you don't take this wrong, but you haven't succeeded because you haven't started anything.

In a short 5 years you list 13 things you have failed at. If you were serious you would have had time to fail at 1, maybe two, or at most 3 during this time if you were putting in the time and effort required to make something successful. It realistically takes 3-5 years to built a business and be able to write it off as a failure.

Where is the conviction, where is the drive, where is the perseverance?

What you have done is throw a bunch of shit at the wall, hopping something would stick, and when it falls to the floor calling it a failure and moving on. You can repeat this 100,000 times and the outcome is certainly going to be the same every single time.

This should be the FIRST lesson you learn. There are no short cuts, there are no get rich quick schemes.

Real businesses take tons of time, lots of efforts, and everyone on this board that has started one will tell you lots of really high highs and some terribly low lows...

Read some of the threads by @AllenCrawley, @Eskil, @biophase, @Iwokeup, just to name a few. Do you see a pattern here? These guys have busted there butts, for years. Fought through failures, persevered, and kept on moving.

For example 4 porn websites in 4 years. Why 4? I built websites and web apps. There is no way you have produced anything meaningful in that time period since none lasted longer than 1 year. Were any of these anything more than quick landing pages thrown up? What and how much effort did you put into promotion and marketing? What changed between the 4, anything besides the URL?

Same thing with your books. What experience do you have that people will value? How much time did you spend marketing these? Did you pay someone in the Philippines to write your "books" throw them on Amazon and just cross your fingers that someone would buy it? Look at serious authors, they spend enormous amounts of time researching, writing, and then promoting.

Look at MJ, smart guy with tons of valuable experience. How many books has he written. How much effort did he put into writing and editing. How much time did he put into promotion. BTW this whole forums acts as promotion for his book.

Get serious about something and stick with it. Find and bring value to the market.

 

[AgainstAllOdds]

Network Marketing:

• Value added: None.
• Scamming people into joining your "funnel" creates no value. In fact, it creates negative value.

Porn Website:

• Value added: None.
• There's already enough porn on the internet.

Books:

• Value added: ???
• However, my guess is that the value added was minimal considering that you wrote several books a year, and presumably on the side.

Online Tool that Converts Videos to MP3's:

• Value added: None.
• Do a quick google search. No one needs another converter.

Do you see a recurring theme?

 

[AllenCrawley]

... Before becoming a successful enterpreneur?


No, I don't like Bob Dylan at all...


Anyway, his Blowin' in the Wind refrain fits very well for my current situation.

I am only 27 and I already failed in 13 different businesses!


Why am I telling you this?
Because this forum is (maybe) the only one where users are not scared to admin their failures.


In chronological order:

2009: Network Marketing #1
2010: Network Marketing #2
2011: Network Marketing #3 (yes, I am really pigheaded... )
2011: Porn Website #1
2012: Porn Website #2
2013: Porn Website #3
2013: Book #1
2014: Porn Website #4 (!!!)
2014: Book #2
2014: Book #3
2015: Book #4
2016: Book #5
2016: Online tool which converts videos to MP3 audio files


I swear after the 100th failure, I will search a job

What's your top 3 lessons learned?

 

[Dazed]

What's your top 3 lessons learned?

No more fapping?

 

[AndrewNC]

I wasted time, money and effort in all of them and never reached any ROI.

My first business idea was a social network for dead people.

Nobody signed up.

I spent 6 months learning how to code websites from scratch. Now - I can throw up a website in less than a day, from the skills I learned from that failure.

Yes, I'm serious.

 

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[SteveO]

so i told them " ok, maybe i am wrong, just show me that your business made you free "

no one answered back.

Perhaps nobody found that it was worth answering you back...

 

[ZCP]

Which businesses provided value? Seems you failed at crowded, 'me too' businesses. Chasing money?

Maybe take all you have learned and solve a need.

 

[SeanyHang]

Maybe try a VR Porn Website this time? Those are DEFINITELY going to be getting popular in the years ahead.
¯\_(ツ)_/¯

 

[ApparentHorizon]

No meaningful lesson.

Maybe it's not a failure in business, but one of self reflection.

 

[1step]

My first business idea was a social network for dead people.

Go on... I'm listening...

 

[AllenCrawley]

that's what i was saying on this forum when people disagreed.

i said " you have a 80 % probability to fail within 4 years "

and people started to shout at me with positive thinking and B.S.

so i told them " ok, maybe i am wrong, just show me that your business made you free "

no one answered back.

so the point is , succeeding is very difficult and MJ DeMarco's victory against all odds is not a common case.


i wish you to succeed but we have odds againts us. good luck

You're funny.

Most people starting a business are starting one that no one will want to buy from. I read somewhere a survey with founders of failed start-ups. The number one reason they attribute their failures was because they created a product or service no one wanted.

Have you even read the book? (I ask because you do not have the "I've read TMF badge")

If you follow the concepts laid out in TMF you greatly improve your chances of success.

90% of the successful business people I know I met on the forum and at the annual Fastlane Summit.

no one answered back

As @SteveO suggested, we do not feel the need to answer such a question.

 

[Guest34764]

No meaningful lesson.

You've failed 13 times and there has been no meaningful lessons?

My first "business" was cleaning shoes for highschoolers.

I learned a lot about business and came up with some great lessons for only cleaning shoes....

 

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[funkj25]

Which businesses provided value? Seems you failed at crowded, 'me too' businesses. Chasing money?

Maybe take all you have learned and solve a need.

ZCP beat me to saying this. What's glaring from your list is that you seem to be doing the same thing over and over, but they listed as features/products instead of as solutions to problems (although your last one is a step in the right direction).

If you're like me when I started you may be getting bogged down in the jargon of business. So I'll be a little "zen" here.

There is no such thing as business. Or companies. Only people.

People with problems, people with solutions. Find people with problems, be the person with the solution.

 

[AndrewNC]

Go on... I'm listening...

It's a virtually untapped market!

 

[Fox]

so i told them " ok, maybe i am wrong, just show me that your business made you free "

no one answered back.

There is at least 100 successful threads on here of people succeeding in business. You are blinded by your own limiting beliefs.

 

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[Frankie Relax]

... Before becoming a successful enterpreneur?


No, I don't like Bob Dylan at all...


Anyway, his Blowin' in the Wind refrain fits very well for my current situation.

I am only 27 and I already failed in 13 different businesses!


Why am I telling you this?
Because this forum is (maybe) the only one where users are not scared to admit their failures.


In chronological order:

2009: Network Marketing #1
2010: Network Marketing #2
2011: Network Marketing #3 (yes, I am really pigheaded... )
2011: Porn Website #1
2012: Porn Website #2
2013: Porn Website #3
2013: Book #1
2014: Porn Website #4 (!!!)
2014: Book #2
2014: Book #3
2015: Book #4
2016: Book #5
2016: Online tool which converts videos to MP3 audio files


I wasted time, money and effort in all of them and never reached any ROI.


I swear after the 100th failure, I will search a job

 

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[1step]

No meaningful lesson.

This is the most troubling thing I see in what you've written, 13 failures and you can't come up with 3 lessons?

How can you expect #14 to succeed if you aren't learning anything meaningful through the process?

Based on your past business trends it would seem you will start about 3-4 more video to mp3 converters in your near future...

 

[Fox]

No meaningful lesson.

13 Businesses and no lessons learned?
You need to slow down, think and plan ahead, and reflect and analysis past results.

I learn dozens of lessons DAILY in my businesses. You are either rushing, not mentally engaged, or doing things half assed.
You should have MORE lessons than people who have succeeded.

Get a diary, plan ahead and look back afterwards.
Did things go as planned? Why?
Did things happen differently? Why?

 

[H. Palmer]

Network Marketing:

• Value added: None.
• Scamming people into joining your "funnel" creates no value. In fact, it creates negative value.

Porn Website:

• Value added: None.
• There's already enough porn on the internet.

Books:

• Value added: ???
• However, my guess is that the value added was minimal considering that you wrote several books a year, and presumably on the side.

Online Tool that Converts Videos to MP3's:

• Value added: None.
• Do a quick google search. No one needs another converter.

you see a recurring theme?

Exactly. The first thing that came to me after I read the opening post is: where is the value?

OP seems to be in the business of money chasing (also known as the "me me me" principle) and doesn't realize that money only comes when something of value is provided to someone who needs it so much that he is willing to pay for it.

There is really not much else to learn here. If there is no passion behind the business, you can start dozens more businesses in dozens of industries, but the money will keep escaping you.

 

[AndrewNC]

i had a similar idea . but the problem for me was the name. how will people go to a site with a nice name surrounding dead people.

two ideas were: youregone.com and thedeathofalovedone.com

but it is an untapped market. and there is lot of advertising in there.

but seriously difficult to make people come to your site!

Mine was like "forever remembered" or something. Selling the emotion of having an online memorial always keeping their loved ones remembered after they die.

From that experience, I discovered how to code websites - and then realized I didn't know how to do marketing so I spent years learning that through 5 more failed business ideas.

These failures built the fundamental skills of business. Website. Product creation. Sales. Marketing.

It's like learning how to use a hammer on your first failure. Then how to use a screwdriver on your second failure. And then a nail gun.

Now that you know how to use the tools - the next step is to build a shed...and then a house....and then one day you can build your mansion.

It's a shame that more early stage entereprneeurs don't realize that their first businesses are their classroom.

They want to read the instruction manual and have the mansion built. Or they want MJ to build the mansion for them.

But they never focus on master the skill of using a hammer. And then they give up.

And then the final words I'll say to them are "no, I don't want fries with that" as they move on to serving the next customer.

 

[eliquid]

You're 27. You're suppose to fail many times. ( sarcastic )

You're judging your global failures too much.

Even though I hate this example, Edison failed 10k times on 1 idea.. the light bulb ( big hint here ).

You failed 13 times, but on several ideas ( a few on network marketing, a few on porn, a few on books, and once on a tool ).

Take 1 idea and fail on it 13 times and I bet you will be further down the road on making money with it than your current approach.


I'm currently on my 5th SaaS. The 4 prior have all been successful if we are talking about profitable revenue as the scorekeeper. They are all in the same market, digital/online marketing.

People will say services and tools in online marketing are saturated. Just like they say that in porn, network marketing, and books ( and video conversion tools ). However, there are people making money in them right now, correct?

The difference is, I have spent years online doing the "online thing" since 1996/1997. Specifically with online marketing since at least 2000. I've failed 100,000 times since then until my first SaaS.

Until you can say the same about your book, porn site, network marketing attempts, or conversion tools... don't expect to get there any faster. You can't fail 100,000 times globally in everything and expect success. You're going to have to ratchet it down to 1-2 areas in your life and build off that.

Example 1: I know a lot about online marketing because of the time I have put in and the failures I've had. Making a new SaaS is pretty easy and I know what the market wants/needs even though people might say it's crowded. On top of that, I could probably write a book on it too and have it do somewhat well. I'm using my failures and experience in 1 area of my life to now create multiple revenue products.

Example 2: Since I love making money online and have ran some profitable businesses, I could more than likely write a book or do some training in "making money online" which is crowded or at least maybe be a business coach or do some uDemy training. All crowded markets. However, I know people that jumped into this market within the last 24 months and are doing over a million dollars yearly with it now. Again, I take 100,000 fails and experience from 1 area into a new direction.

Next Steps: Figure out your 1 area/focus.

 

[#nowhere]

Network Marketing:

• Value added: None.
• Scamming people into joining your "funnel" creates no value. In fact, it creates negative value.

Porn Website:

• Value added: None.
• There's already enough porn on the internet.

Books:

• Value added: ???
• However, my guess is that the value added was minimal considering that you wrote several books a year, and presumably on the side.

Online Tool that Converts Videos to MP3's:

• Value added: None.
• Do a quick google search. No one needs another converter.

Do you see a recurring theme?

Everytime I read an analysis of yours I almost fall in love...

Like it!

 

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[Sanj Modha]

I failed for years before making money.

I went from Wordpress sites, affiliate blogging, SEO, solo ads, lead generation etc etc. Made some money along the way but mostly struggled. After reading self-help/biz books, it occurred to me that I needed to follow someone successful. Someone who can help me develop a "success mindset".

I found a great guy and did whatever I could to help his business. I did all the crappy jobs, worked long hours and learned all that I could.

Fast forward to 2016, it was worth it.

 

[TheGrind]

Which businesses provided value? Seems you failed at crowded, 'me too' businesses. Chasing money?

Maybe take all you have learned and solve a need.

Exactly the same thing I was thinking.

Take a step back, look at the market, find somewhere you feel you can add value and help people and just set out to help them. The money will come in due time and it will come in great quantities.

 

[Evil_Jester]

Starting a business in a field that you know nothing about is likely going to lead to failure.

 

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[The-J]

Hopefully you don't take this wrong, but you haven't succeeded because you haven't started anything.

In a short 5 years you list 13 things you have failed at. If you were serious you would have had time to fail at 1, maybe two, or at most 3 during this time if you were putting in the time and effort required to make something successful. It realistically takes 3-5 years to built a business and be able to write it off as a failure.

Where is the conviction, where is the drive, where is the perseverance?

What you have done is throw a bunch of shit at the wall, hopping something would stick, and when it falls to the floor calling it a failure and moving on. You can repeat this 100,000 times and the outcome is certainly going to be the same every single time.

This should be the FIRST lesson you learn. There are no short cuts, there are no get rich quick schemes.

Real businesses take tons of time, lots of efforts, and everyone on this board that has started one will tell you lots of really high highs and some terribly low lows...

Read some of the threads by @AllenCrawley, @Eskil, @biophase, @Iwokeup, just to name a few. Do you see a pattern here? These guys have busted there butts, for years. Fought through failures, persevered, and kept on moving.

For example 4 porn websites in 4 years. Why 4? I built websites and web apps. There is no way you have produced anything meaningful in that time period since none lasted longer than 1 year. Were any of these anything more than quick landing pages thrown up? What and how much effort did you put into promotion and marketing? What changed between the 4, anything besides the URL?

Same thing with your books. What experience do you have that people will value? How much time did you spend marketing these? Did you pay someone in the Philippines to write your "books" throw them on Amazon and just cross your fingers that someone would buy it? Look at serious authors, they spend enormous amounts of time researching, writing, and then promoting.

Look at MJ, smart guy with tons of valuable experience. How many books has he written. How much effort did he put into writing and editing. How much time did he put into promotion. BTW this whole forums acts as promotion for his book.

Get serious about something and stick with it. Find and bring value to the market.

Words right out of my mouth... Rep+

If OP had actually stuck with something for more than a year, he'd have at least one, albeit shitty, revenue stream AND/OR a powerful lesson learned.

My first business was an actually GOOD idea. Lead generation platform for plastic surgeons. Huge moneymaker, huge need.

I didn't know how to market it. So it failed when I realized that I was putting time, money and energy into something that I didn't know jack shit about.

I wasted about 5-6 months fiddling with the idea and getting nowhere because I didn't put it to market fast enough.

I didn't commit to learning about either side of the market. I didn't commit to learning about how to sell this kind of thing. I didn't commit to learning how to get the system built, even!

I started several other businesses similar to OP: just dabbling, fiddling around, trying shit and having it not work.

Funny thing, I don't think I learned the lessons I was supposed to learn until I started making money.

 

[Guest34764]

You can fail forever and never see a dime.

Use what you learned from your past failures and incorporate the knowledge in a new business.

Just because you've failed 13 times doesn't mean you won't fail a 14th.

 

[Frankie Relax]

What's your top 3 lessons learned?

No meaningful lesson.

I can write 2 of them, obvious for the most of you:

1. Network Marketing is not a good business to make money. At the most you may know many young wanterpreneurs...
2. It should be better to focus on only 1 business at a time. I think one of my "chronic problems" is to be always in search for new oppurtunities and new projects to start. It's because I think we are living in the very golden age of humanity and finance, in the age of endless opportunities and thus I just cannot choose the one to focus on...

 

[Duane]

My first 3 businesses failed, but I learned a valuable lesson from those failures.

My takeaway is just because you failed doesn't mean it's over and you have to move on to the next thing. I have messed up in the business I'm in countless times and could have given up and moved on to something else, but I didn't. I stuck in there and did immense research and found people in that area I could talk to to help me.

Dr. Seuss's first 26 or 27 books were failures. They wouldn't publish them. Imagine if he gave up book writing on #13, we'd have no Dr. Seuss.

 

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[ovoxomo]

No intention of being sarcastic here but maybe the problem is trying to create a business in the same market over and over? You said you failed 13 businesses but you only tried 4 different niches.

Another thing is maybe you are trying in the wrong areas, porn doesn't seem good from my perspective since for starters there are already some major brands that I'm not sure it would be easy to compete with, and books seem like just about the worst way of making money next to acting and being a musician (unless you are top 1%)