The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

EXECUTION ugh. failure.

Brandon Bunch

New Contributor
Read Millionaire Fastlane
Sep 26, 2016
17
15
22
23
The fast lane has changed quite a bit since i've last been on. i've also had to let go of my insider subscription in the last year a result of being focused on my window washing company that i see now was failed from the start. since i lost my subscription i also seem to have lost my last progress thread and any access i had to it. i'm starting this progress thread in the public forum to avoid that in the future. this community however has done so much for me and i have learnt a lot. i guess the in this post id just like to express my feelings regarding the ups and downs of this experience and hope that i can maybe give something back. i'll also share my new focus and direction now that i have picked myself back up from my spectacular stupidity. so in my home town i use to work with my best friend. he had inherited a window washing company from his father while we were in high school when his father was no longer able to do the work. he was supposed to give his father a % of the profit in exchange to help with his fathers medical bills. my friend controlled at least 60% of the window washing market in our town at the time this allowed him to help his father. pay his own bills comfortably and also pay me generously. he and i were pretty good at washing windows and managed to take a small % of the surrounding towns market as well funding our teenage antics and partying sufficiently however as graduation neared i had bigger plans than being a small town window washer and left my small town pursuing education and a bigger brighter future. we stayed friends and i sometimes would visit my family and help with his small operation which didnt grow much in this time i was trying to figure my life and career out. after dropping out of collage and then attending dive school to only fail at finding a job i eventually fell back on welding in atlanta this is when my friend and i had the bright idea that there was a much bigger window market in atlanta. this was shortly after i had read the millionaire fast lane and thought this had bestowed the gift of business expertise on me so i thought with my new insight and his expertise in washing windows as partners we could cut out a nice chunk of market for ourselves the same way we gained business in our home town. long story short i paid his way up to atlanta told him while i worked and fed us for the first few months he would work on sales as he was a very good salesman at home home months went by and i tried to support sales best i could however he seemed to lose his sense of responsibility in the excitement of the move and in my opinion spent way to much time out enjoying the city instead of nurturing our budding business. sales never happend my nest egg dwindled and eventually he ended up back in our home town on his dad's couch. i realize now he was not cut out to be a good partner. if anything i should have treated him more like an employee since i came up with all of the money/equipment and eventually also tried to take on the first few sales even though i was already exhausted with what i had on my plate. i wanted to give him confidence that the city was no different than our hometown. after dragging him around the city in search of sales i quickly realized lack of ambition and not cold feet was to blame for my business failing as he half heartedly pitched to prospects with me i ruined a friendship and i am now in an industry i dont have the proper expertise to succeed in. now i'm exiting to refocus on something i have more control in. i tried to scale someone else's value before they were ready instead of trying to provide my own. i regret how i negatively affected his life even though i realize he is an adult and makes his own decisions. i feel like having inherited his first business he was not prepared for bootstrapping ours and i sold him this idea or opportunity for a bigger market prematurely although i was completely honest. moving on.

upon re-evaluating myself i have been welding/ fabricating for many years. i was taught young and dual enrolled in high school to get my certs. my next thought was to invest in myself end what i was best at so i've been playing with the idea of either purchasing a weld truck to at least make the move into freelancing then eventually a business or just making the leap to full fledged fab shop creating jigs for other companies now that my nest egg is back up. after trying my hand at washing windows however i know know just how hard it is to try and bootstrap a b&m i just can't seem to get my mind out of this physical b&m box i guess is how i would describe it. i lost a lot on my last b&m attempt and know it will most likely take more to make it which i am prepared for however to better control my risk im trying to make the best and most educated decision that i can for myself before i risk failing again. i don't regret my losses however i think for the money i've spent i've learned a lot especially in sales working for my competition and i now am more comfortable with paperwork for the government and legality which was more scary than difficult anyway. though i enjoy creating and monetizing my skills would allow me to satisfy that desire. i've also thought about trying to monetize my girlfriend and i’s cats instagram account which is starting to get a surprising amount of followers. this has been my most prominent idea to avoid the physical exhaustion that comes with b&m's plus a nine to five to support it because it also has the interest of my love. i have many skills and product ideas and can learn anything so this makes my decision that much harder. i lack however confidence in a lot of my product ideas of which i know would be costly to develop just from my experience prototyping underwater rov’s for stem class. i guess my first step for now dis going to be to see how costly it would be to get set up for welding/fabricating for myself would be and to put the cats insta on the backburner as a hobby interest since it's free right now to try and increase traffic. also maybe research licensing.

sorry for the wall of text however i feel as though i was not being in depth enough or providing much for you guys in my last post. i also apologize for the repetitive use of i my girlfriend is trying to help she is an english minor and it drives her crazy. please feel free to ask anything or share your thoughts
 

Don't like ads? Remove them while supporting the forum. Subscribe.

mo3

Contributor
I've Read UNSCRIPTED
Speedway Pass
Sep 6, 2017
51
71
123
44
UK
I just wanted to say that a failure is always something you can learn from and you have already got an attitude that doesn’t focus on blame, so you’re doing great.

We all fail - I have failed and mediocre business attempts behind me. It’s all learning [emoji846].

I don’t know about instagram - the masses seem to love mad accounts about cats and things, so maybe there is something there. If you’re making people feel good with pictures you’re providing value, which is what it’s all about.

Wish you luck, and keep us updated!


Sent from my iPhone using Tapatalk
 
OP
OP
Brandon Bunch

Brandon Bunch

New Contributor
Read Millionaire Fastlane
Sep 26, 2016
17
15
22
23
Hey thanks man I appreciate the response it really picked me up when I saw it.
I think soon I'm going to throw a little money at a small welder I have a friend with a little space a think I could Fab in for a few beers. There's a lot of home and apartment development around me so I'm going to throw together some business cards and see if anyone wants to outsource things like stairs, railings, and gates to start. Then maybe small repairs for machine shop mistakes or small batch fabs for small construction companys if I can buy or get access to a cnc to grow. I'm certified so I know my welds will hold but I still need to look at insurance and licenses. Ive already paid my taxes for my sole proprietorship window business this year and I've done a quick search but I'm trying to figure out rn if I can just swap that over to welding/Fab work without as much time and money as just starting over. Also need to look up requirements or guidelines I have to adhere to for things like rails and stairs. Ill try to keep you guys updated I wish I could have done better at that last year I was just stressed and short on time. My old partner had me at my wit's end.:peace:
 
OP
OP
Brandon Bunch

Brandon Bunch

New Contributor
Read Millionaire Fastlane
Sep 26, 2016
17
15
22
23
Update: My boss at the restaurant has already bought $150 worth of work and has agreed to having me fabricate 2 tables for $400. My deadline is Valentine's day. I consider this the green light to get everything legal and will probably start a new ein tonight or tomorrow morning.

Sent from my Pixel 2 XL using Tapatalk
 
OP
OP
Brandon Bunch

Brandon Bunch

New Contributor
Read Millionaire Fastlane
Sep 26, 2016
17
15
22
23
So, I'm currently making two tables right now for 400$. After I finish those tables I have 16 tables at 50$ a piece to refurbish from one client, my current boss. My last proprietorships tax account is closed according to the city of Atlanta however I still have to file my final returns for that business does anyone know if I need a new ein for my new welding company the IRS site seemed unclear? After everything is legal for this new business I'm going to turn my attention to getting more clients. My side jobs have afforded me enough equipment that I think I can take a few nice swings at this.

Sent from my Pixel 2 XL using Tapatalk
 

crazyboi07

PARKED
Jul 28, 2017
1
0
3
26
Marietta ga
Much luck to you with your journey! I am also in Atlanta and would probably need some welding help in the near future. Let me know if you can help. Thanks!!


Sent from my iPhone using Tapatalk
 

minivanman

Platinum Contributor
Speedway Pass
Mar 16, 2017
1,438
3,569
874
50
DFW
Steel and wrought iron furniture are big things right now. Make a few things, put them on Facebook Market Place and Craigslist.... see what sells best, make some jigs, get a helper when you get more business than you can handle and up, up and away from there!

My buddy is a wood worker. He had a couple of very popular chairs he would make. He couldn't make them fast enough..... but, he is not the type of person to have workers and is now out of business because he had an accident and can no longer make them. That's why you need to get it figured out as fast as possible and get those workers.

Just make sure you price them NOW thinking of the FUTURE. Figure out what everything will cost you when you have workers.... machines.... everything...... sell them for that price from the start. Don't figure out the price you need now.... let's say $200 for a table. What if once you get 3 workers and a shop, a table costs YOU $200 to make.... will you need to sell it for $500? If you don't figure out those costs now, you are leading yourself in the wrong direction. This is the same for any business. Hope this helps.

Just an after-thought.... lots of people need specific utility trailers. Make them custom.
 

Roli

Gold Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jun 3, 2015
1,432
2,257
570
The fast lane has changed quite a bit since i've last been on. i've also had to let go of my insider subscription in the last year a result of being focused on my window washing company that i see now was failed from the start. since i lost my subscription i also seem to have lost my last progress thread and any access i had to it. i'm starting this progress thread in the public forum to avoid that in the future. this community however has done so much for me and i have learnt a lot. i guess the in this post id just like to express my feelings regarding the ups and downs of this experience and hope that i can maybe give something back. i'll also share my new focus and direction now that i have picked myself back up from my spectacular stupidity. so in my home town i use to work with my best friend. he had inherited a window washing company from his father while we were in high school when his father was no longer able to do the work. he was supposed to give his father a % of the profit in exchange to help with his fathers medical bills. my friend controlled at least 60% of the window washing market in our town at the time this allowed him to help his father. pay his own bills comfortably and also pay me generously. he and i were pretty good at washing windows and managed to take a small % of the surrounding towns market as well funding our teenage antics and partying sufficiently however as graduation neared i had bigger plans than being a small town window washer and left my small town pursuing education and a bigger brighter future. we stayed friends and i sometimes would visit my family and help with his small operation which didnt grow much in this time i was trying to figure my life and career out. after dropping out of collage and then attending dive school to only fail at finding a job i eventually fell back on welding in atlanta this is when my friend and i had the bright idea that there was a much bigger window market in atlanta. this was shortly after i had read the millionaire fast lane and thought this had bestowed the gift of business expertise on me so i thought with my new insight and his expertise in washing windows as partners we could cut out a nice chunk of market for ourselves the same way we gained business in our home town. long story short i paid his way up to atlanta told him while i worked and fed us for the first few months he would work on sales as he was a very good salesman at home home months went by and i tried to support sales best i could however he seemed to lose his sense of responsibility in the excitement of the move and in my opinion spent way to much time out enjoying the city instead of nurturing our budding business. sales never happend my nest egg dwindled and eventually he ended up back in our home town on his dad's couch. i realize now he was not cut out to be a good partner. if anything i should have treated him more like an employee since i came up with all of the money/equipment and eventually also tried to take on the first few sales even though i was already exhausted with what i had on my plate. i wanted to give him confidence that the city was no different than our hometown. after dragging him around the city in search of sales i quickly realized lack of ambition and not cold feet was to blame for my business failing as he half heartedly pitched to prospects with me i ruined a friendship and i am now in an industry i dont have the proper expertise to succeed in. now i'm exiting to refocus on something i have more control in. i tried to scale someone else's value before they were ready instead of trying to provide my own. i regret how i negatively affected his life even though i realize he is an adult and makes his own decisions. i feel like having inherited his first business he was not prepared for bootstrapping ours and i sold him this idea or opportunity for a bigger market prematurely although i was completely honest. moving on.

upon re-evaluating myself i have been welding/ fabricating for many years. i was taught young and dual enrolled in high school to get my certs. my next thought was to invest in myself end what i was best at so i've been playing with the idea of either purchasing a weld truck to at least make the move into freelancing then eventually a business or just making the leap to full fledged fab shop creating jigs for other companies now that my nest egg is back up. after trying my hand at washing windows however i know know just how hard it is to try and bootstrap a b&m i just can't seem to get my mind out of this physical b&m box i guess is how i would describe it. i lost a lot on my last b&m attempt and know it will most likely take more to make it which i am prepared for however to better control my risk im trying to make the best and most educated decision that i can for myself before i risk failing again. i don't regret my losses however i think for the money i've spent i've learned a lot especially in sales working for my competition and i now am more comfortable with paperwork for the government and legality which was more scary than difficult anyway. though i enjoy creating and monetizing my skills would allow me to satisfy that desire. i've also thought about trying to monetize my girlfriend and i’s cats instagram account which is starting to get a surprising amount of followers. this has been my most prominent idea to avoid the physical exhaustion that comes with b&m's plus a nine to five to support it because it also has the interest of my love. i have many skills and product ideas and can learn anything so this makes my decision that much harder. i lack however confidence in a lot of my product ideas of which i know would be costly to develop just from my experience prototyping underwater rov’s for stem class. i guess my first step for now dis going to be to see how costly it would be to get set up for welding/fabricating for myself would be and to put the cats insta on the backburner as a hobby interest since it's free right now to try and increase traffic. also maybe research licensing.

sorry for the wall of text however i feel as though i was not being in depth enough or providing much for you guys in my last post. i also apologize for the repetitive use of i my girlfriend is trying to help she is an english minor and it drives her crazy. please feel free to ask anything or share your thoughts
Paragraphs!

You need more of them and they need to be smaller, otherwise it is very fatiguing for the reader. :)

#friendlytip
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.


New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Sponsored Offers

Lex DeVille's - Advanced Freelance Udemy Courses!
-- HALLOWEEN SPECIAL STARTS TODAY! Get any of my courses at Udemy's current best price through Friday! Use code: HALLOWEEN Use any of the links...
Top Bottom