My first thought was, why did all of these things fail? It absolutely cannot be the industry. Even in a small town there are people who make a living doing the following below:
• Furniture delivery
• Power washing driveways
• Mowing lawns/landscaping
• Window screen repair
• Window washing
• Wholesaling
real estate
• Computer repair
• IT consulting
My first conclusion was that this guy is bad at business, gives up too early, makes excuses or is just a talker. Remember that this is before thread went 3 pages. I wanted him to list the reasons why each of the businesses failed. The only reason I keep reading about is that competition is tough and the town was too small.
If a new business has a 25% chance of making it, then 2/8 should have been successful. However, assume that each time you fail you learn so each successive business should have an increasingly higher chance of making it. So if you start 8 businesses and none make it. The problem is you, not the business.
How does a furniture delivery business fail? Was this even a real business or just an ad on craigslist saying that you provide 2 guys and a truck? How long did you try this? Why did you stop? What were your expenses? What did you charge?
I'd like to see the answers for each of the businesses listed above.
I will attempt to explain each of these in more detail. I think this thread got off to a bad start because I didn't explain any of this very well. So let me break down each one individually:
Furniture delivery
I started this business after hearing about someone else doing it in another city. I actually started this while I was still working my last job.
The idea was to deliver IKEA furniture and make our money off of the delivery charges. Quite a few problems arose once we jumped in.
1) The amount of customers and the order sizes each trip (every two weeks) didn’t allow me to make a profit on most trips. I was losing money just about every run. Depending on the order size and item price, my profit was anywhere from 8-20%. Most runs, this didn’t even pay for the gas and trailer rental.
2) My marketing budget was small, and I didn’t know where to spend what money I did have. I did develop a website that handled ordering and payments, but driving traffic proved to be difficult. I tried advertising through Facebook and targeting specific demographics, but most of them never converted. If I had thought about bandit signs at that time, I would have definitely used them!
3) The city I was delivering too wasn’t where I lived. It was approximately 40 miles away. So, if I didn’t deliver all the orders on the same day. I was forced to make another 80 mile round trip, cutting into the profits even more. Scheduling got to be a real pain.
4) I didn’t own the trailer and never knew if I needed it for one, two, or three days. This coupled with the fact that I was trying to do this all around my work schedule made it almost impossible. After a lot of consideration, I decided to pull the plug.
Power washing driveways
This idea came about as an afterthought. It was mainly word of mouth advertising. I was renting the power washer after I received a few interested customers. I didn’t ever plan on this being a business, just a way to make a few extra dollars.
Mowing lawns/landscaping/Window screen repair/Window washing
Again, these were word of mouth and in the local area. I did advertise on craigslist and created some flyers, but I never received many calls. There is a lot of competition in the local area, so I’m sure that played a part. I changed my ads many times to see if any would convert better, but I didn’t have much luck.
I never planned on any of these being a full-time business; I was trying to generate extra cash so I could continue with wholesaling
real estate.
Wholesaling real estate
This hasn’t failed, yet. The market is severely depressed and the profits are minimal, but I keep trying. I will keep doing this even after I start working again as this will generate some extra capital to support other ideas.
Computer repair/IT consulting
I’ve done both of these off and on for the last 7-8 years. There is a ton of competition and really nothing that sets me apart from the other 20 places doing the same thing. I haven’t put a lot of thought in to a USP for either one of these. I’m not sure if it’s possible to create one. I don’t believe either one would be fastlane anyway.
I guess most people thought that I was trying to make each one of these a successful business, that wasn't the case at all. Yes most of them failed because I gave up on them for one reason or another, and I probably should have stuck with just one. In all honesty, I was looking to generate some cash fairly quickly.
My original post was emotionally driven and not well thought out, and I was looking for an outlet and really didn't care at that point. I do realize now why peoples perception of my attitude are the way they are.
I will say while I did expect some of the reaction I received, I didn't like it and I felt the need to defend myself. I sincerely apologize.