Well, it's actually my 2nd or even 3rd business (if you count my beatmaking & -selling as a business), but I like to call it my 1st one, because it's the first business I started after finishing TMF .
Anyway, it failed.
It would feel kinda selfish to keep the lessons I learnt from that first failed business to myself, especially because I can't add much value yet in terms of a successful business, so at least I can do my best to share my thoughts on a failed one and hopefully help you in some way or another.
Anyway, it failed.
It would feel kinda selfish to keep the lessons I learnt from that first failed business to myself, especially because I can't add much value yet in terms of a successful business, so at least I can do my best to share my thoughts on a failed one and hopefully help you in some way or another.
1. Commitment. Wow, that one's huge.
I went from shitting my pants by only hearing the words hard work, to engaging into real action and processes for hours every day.
I went from shitting my pants by only hearing the words hard work, to engaging into real action and processes for hours every day.
2. Steps, not miles.
That one goes hand in hand with commitment. It would be easy to get lost while looking at the whole picture all the time. Instead I focused on every single brushstroke painting that picture.
Breaking it down into steps, and those steps into daily tasks helped a lot.
That one goes hand in hand with commitment. It would be easy to get lost while looking at the whole picture all the time. Instead I focused on every single brushstroke painting that picture.
Breaking it down into steps, and those steps into daily tasks helped a lot.
3. Real work or feel good work?
We probably all know that type of feel good work. Creating a logo, choosing brand colors, creating business cards, thinking about future ideas. While at the same time not one single sale was made. I had everything set up at the launch (a nice logo, awesome website, just everything) but what I didn't have was a single sign up on the site or someone interested in signing up.
We probably all know that type of feel good work. Creating a logo, choosing brand colors, creating business cards, thinking about future ideas. While at the same time not one single sale was made. I had everything set up at the launch (a nice logo, awesome website, just everything) but what I didn't have was a single sign up on the site or someone interested in signing up.
4. Partners. Uhh..
I started this business with a partner, and don't get me wrong he's an awesome guy and definitely knows his shit. But I wouldn't prefer starting a business with a partner again if not necessary. Not saying that it was wrong, but I can only suggest to put more thought into deciding to run it alone or to do it with a partner.
I started this business with a partner, and don't get me wrong he's an awesome guy and definitely knows his shit. But I wouldn't prefer starting a business with a partner again if not necessary. Not saying that it was wrong, but I can only suggest to put more thought into deciding to run it alone or to do it with a partner.
5. "Do what you love!"
That "do what you love!" sentence? The next time you take the garbage out, please take that sentence with you and throw it away.
After reading more and more on here, I slowly began to realize that I started my business for the wrong reasons based on an assumed need. I can only suggest to throw away that idea of doing what you love and rather focus on what others love and need, to be able to give it to them.
That "do what you love!" sentence? The next time you take the garbage out, please take that sentence with you and throw it away.
After reading more and more on here, I slowly began to realize that I started my business for the wrong reasons based on an assumed need. I can only suggest to throw away that idea of doing what you love and rather focus on what others love and need, to be able to give it to them.
6. Passion.
There a 2 types of passion for me. The first one is the "follow your passion!" type, please do the same to that one as you should've done to the one above. But there's another type of passion. Contrary to "do what you love" there's "love what you do", and that (in my opinion) is a good type of passion.
There a 2 types of passion for me. The first one is the "follow your passion!" type, please do the same to that one as you should've done to the one above. But there's another type of passion. Contrary to "do what you love" there's "love what you do", and that (in my opinion) is a good type of passion.
7. Love the hell out of others.
Most on here know where this sentence is from.
I can't really put into words how that changed everything, not just in my entrepreneurial but also in my personal life. Read @IceCreamKid 's Astonishing Secrets thread. Then read Dale Carnegie's book How To Win Friends And Influence People.
Most on here know where this sentence is from.
I can't really put into words how that changed everything, not just in my entrepreneurial but also in my personal life. Read @IceCreamKid 's Astonishing Secrets thread. Then read Dale Carnegie's book How To Win Friends And Influence People.
8. Habits.
One of the biggest realizations I made was how powerful the development of habits can be.
Motivation can be a bitch, it's a fleeting emotion. If you rely on motivation to do something it's going to be easy to don't do anything if you don't feel like it. That's where habits come into place. Make it a habit to do something and you won't have to rely on motivation to do it.
One of the biggest realizations I made was how powerful the development of habits can be.
Motivation can be a bitch, it's a fleeting emotion. If you rely on motivation to do something it's going to be easy to don't do anything if you don't feel like it. That's where habits come into place. Make it a habit to do something and you won't have to rely on motivation to do it.
9. Expectations. Yeah.. F*ck that.
Don't expect fast results or that something will be too easy. Things like "Oh, I only need 100 customers to replace my day job" sound so damn easy, that when you realize it's not as easy as you thought, to get 100 customers in the first place, you feel like shit.
I don't think you should limit yourself, but setting realistic expectations, based on your progress, will do more good for you in the long run.
Don't expect fast results or that something will be too easy. Things like "Oh, I only need 100 customers to replace my day job" sound so damn easy, that when you realize it's not as easy as you thought, to get 100 customers in the first place, you feel like shit.
I don't think you should limit yourself, but setting realistic expectations, based on your progress, will do more good for you in the long run.
10. Sharing your excitement with not like-minded people.
My tip? Don't do it.
Seriously, that can F*ck up your whole mood. Having to explain yourself to your family and friends after telling them how you view the world and what you think is possible just takes away your energy. Energy that you should rather put into your journey. Moving in silence felt a lot better than any attempt of convincing my family and friends of my view on things.
My tip? Don't do it.
Seriously, that can F*ck up your whole mood. Having to explain yourself to your family and friends after telling them how you view the world and what you think is possible just takes away your energy. Energy that you should rather put into your journey. Moving in silence felt a lot better than any attempt of convincing my family and friends of my view on things.
11. Get back up.
There's a cool quote by Gary V that goes "All that looking back is only F*cking with your neck."
I spend 8-9 months on this business, it kinda hurts to end it after that amount of time spent on it and the energy that went into it.
Getting back to the drawing board is really hard after working on a project for so long. Starting with a blank canvas again. Starting as soon as possible to paint that new canvas helped me to avoid slipping back into the "normal life".
There's a cool quote by Gary V that goes "All that looking back is only F*cking with your neck."
I spend 8-9 months on this business, it kinda hurts to end it after that amount of time spent on it and the energy that went into it.
Getting back to the drawing board is really hard after working on a project for so long. Starting with a blank canvas again. Starting as soon as possible to paint that new canvas helped me to avoid slipping back into the "normal life".
12. Be happy.
That's something I am thankful I never unlearnt: being happy.
I'm thankful that I didn't turn in one of those "responsible" adults while growing up, but instead stayed child-like.
There's nothing to be gained from being a negative person. There's nothing good coming from feeling sorry for yourself. Don't wait until you're successful, to be happy. Be positive. Be happy. Now.
Oh, and don't forget to smile
That's something I am thankful I never unlearnt: being happy.
I'm thankful that I didn't turn in one of those "responsible" adults while growing up, but instead stayed child-like.
There's nothing to be gained from being a negative person. There's nothing good coming from feeling sorry for yourself. Don't wait until you're successful, to be happy. Be positive. Be happy. Now.
Oh, and don't forget to smile
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Last edited:
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
