My First 9 Businesses Failed
Summary
- I've had my fair share of business failures, with my first nine businesses not amounting to anything.
- Every time I started a new business, I believed it would be different, but each one ended up failing.
- Going through these failures is painful, especially when people around you say "I told you so."
- Despite the failures and the negative feedback from others, it's important not to be discouraged forever.
Video
How To Take Action
I would suggest using my own story to learn some valuable lessons. If you've tried a business idea and it didn't work out, don't give up. Remember, I had nine failures! Each time you start something new, you might think "This one will be different," but if it fails, that's okay.
First, take a cheap notebook or even scrap paper and write down what went wrong with your business. Maybe you spent too much or didn't understand your customers. This won't take long and doesn't cost much, but it's a gold mine for learning.
Next, talk to people who know about your business area. Ask for their honest feedback but don't pay for expensive consultants. Just listen to people's advice at the coffee shop or in online forums. They might give you the ideas you need for free.
Also, if people around you say, "I told you so," use that to fuel your determination. Write down their words and use them as a reminder to prove them wrong. It's important not to let negative feedback discourage you forever.
Finally, don't rush into your next business. Take a little time to plan your next step. Again, use your cheap notebook to jot ideas down. Only move forward when you have a clear, inexpensive plan to try something new.
Remember, I've been there, and look where I am now. Don’t let anyone tell you that you won't succeed just because you haven't yet. Use each failure as a stepping stone to your next success, and make sure the lessons you learn cost little more than your time and a bit of reflection.
Quotes by Alex Hormozi
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Full Transcript
my first nine businesses didn't really amount to anything nine nine as in the first one spent time failed second one this one will be different failed third one this one this is the one I'm just painting this picture because like it's painful as because the whole time everyone is telling you I told you so and they're right today but not forever
