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fuggin business failed. Second time.

me and my boy just lost about 160k on a restaurant

fucked up my credit and everything

fuck that business i hate it
 
lemonade stand?
 
Damn dude, sorry to hear. Keep your head up and don't give up. Shit might not look good now but perserverance is what built Rome....or something.
 
Nathan said:
Damn dude, sorry to hear. Keep your head up and don't give up. Shit might not look good now but perserverance is what built Rome....or something.
Click to expand...
yeah and abe lincoln failed a sheetload of times and look at him now
or something like that?
 
I have a non-profit sleep lab in my room with a king Size Serta and two cats that hog the bed....and a girlfriend who makes spitting sounds in her sleep when she's drunk...
 
That sucks.

I really do believe though that the difference in winners and losers is perserverence. Losers have a failed business and then just give up on everything. Winners may fail 10 times, but on the 11 make millions. You just have to keep educating yourself and learning from your mistakes.
 
how do you know when your business is failing?

like if some months you make money and some you break even...

how long would you let that go on for?
 
heavy_duty said:
how do you know when your business is failing?

like if some months you make money and some you break even...

how long would you let that go on for?
Click to expand...


If you make enough to live off of, then you're not failing.
 
Juiced...consider it a learning experience; You learn more from failure than success....

Next time you'll be better prepared...... :)
 
heatherrae said:
That sucks.

I really do believe though that the difference in winners and losers is perserverence. Losers have a failed business and then just give up on everything. Winners may fail 10 times, but on the 11 make millions. You just have to keep educating yourself and learning from your mistakes.
Click to expand...

yep....i think it was thomas edison had to try 9999 times to get the lightbulb right.

all the great succesful people in this world dont view failure as failure. just an experience to learn from and build on. adopting that belief has helped me alot in business
 
heavy_duty said:
how do you know when your business is failing?

like if some months you make money and some you break even...

how long would you let that go on for?
Click to expand...

Nah it's more like I was consulting for a doc wanting to open a sleep disorders testing center and he's leaving me high and dry for time worked plus cutting me out of the loop for a durable medical equipment supplier contract.
 
you lost money or time?

never commit to money unless all ducks are in a row. and mitigate that risk.

time - you can get it back, or chalk it up as a good learning experience. you learn more from doing and failing, than sitting in a class.
 
Razorguns said:
you lost money or time?

never commit to money unless all ducks are in a row. and mitigate that risk.

time - you can get it back, or chalk it up as a good learning experience. you learn more from doing and failing, than sitting in a class.
Click to expand...

money lost was only in the hundreds, but it was out of my pocket directly. Time lost was significant, only in that I didnt take on another project from trying to keep this one going.
 
gotmilk said:
I have a non-profit sleep lab in my room with a king Size Serta and two cats that hog the bed....and a girlfriend who makes spitting sounds in her sleep when she's drunk...
Click to expand...

Dude are you sleeping with my girl friend??
 
heatherrae said:
That sucks.

I really do believe though that the difference in winners and losers is perserverence. Losers have a failed business and then just give up on everything. Winners may fail 10 times, but on the 11 make millions. You just have to keep educating yourself and learning from your mistakes.
Click to expand...

I think that's bullshit. Sometimes people just run out of money. How in the hell are you going to get the money to start a new business 10 different times? I think there's a lot of luck involved too.

Btw, I'm not rich, but I'm a winner because my body is a temple of god and most people look like a sack of shit and can't run 5 miles. It's all relative.
 
biteme said:
I think that's bullshit. Sometimes people just run out of money. How in the hell are you going to get the money to start a new business 10 different times? I think there's a lot of luck involved too.

Btw, I'm not rich, but I'm a winner because my body is a temple of god and most people look like a sack of shit and can't run 5 miles. It's all relative.
Click to expand...
????


Ummmmmm....???

Nevermind

:lmao:
 
heatherrae said:
That sucks.

I really do believe though that the difference in winners and losers is perserverence. Losers have a failed business and then just give up on everything. Winners may fail 10 times, but on the 11 make millions. You just have to keep educating yourself and learning from your mistakes.
Click to expand...

to paraphrase Myamoto Musashi and my sensei... the difference between a winner and a loser is a winner gets up one more time.

Business failure sucks but risk can be mitigated with proper SWOT analysis, research, planning, metrics, and harsh honesty with oneself about one's chances for success.

Not that anyone here did not do all that... nothing in life is guaranteed. I'm in business with 3 partners now and we are bootstrapped. We've done VC backed business before and don't like giving up final control to them. Some of those businesses succeeded and went M&A, others failed and went bust even with many good minds working on them. But one thing I learned was that it's not personal, it's business. One has to make hard decisions even if the hurt some people.
 
calveless wonder said:
yep....i think it was thomas edison had to try 9999 times to get the lightbulb right.

all the great succesful people in this world dont view failure as failure. just an experience to learn from and build on. adopting that belief has helped me alot in business
Click to expand...

Sure, if you count buying the idea from someone else as the last try.
 
roadwarrior said:
to paraphrase Myamoto Musashi and my sensei... the difference between a winner and a loser is a winner gets up one more time.
Click to expand...

I thought that was Karate Kid Part 2
 
"Success is going from one failure to the next without losing your enthusiasm." - Sir Winston Churchill.

He was right.

If you only knew how many times my husband and I have been knocked to the ground FIGHTING for what we have, fighting harder to maintain and move ahead. It ain't all roses and lollipops and no matter how much you mitigate risk, still there are all types of factors that can (and will) go wrong.

Getting knocked down isn't what is important. That is just life and it happens to all of us. What's important is that you keep getting back up.

You are a young man with your whole life ahead of you. Why let this *failure* limit you. Matter of fact, doesn't seem a failure to me at all. Seems more like a learning experience.

It is all about perception as perception IS reality.
 
become a musician, give you an excuse for not working and not making money, while your still cool with the chicks
 
heavy_duty said:
how do you know when your business is failing?

like if some months you make money and some you break even...

how long would you let that go on for?
Click to expand...


when your reserve account is depleted = business failed.

yes, revenue will always vary from month to month depending on the business.

especially if it's a new business, start up costs certainly have to be accounted for and reserves need to be sufficient to float the business till it turns a profit.

but if you have an adequate reserve account, and a good business plan. it shouldn't fail. however when reserves = 0. doors closed
 
I just finished reading everything. I mixed up juiced and jon79's thread. Either way when a business goes under its got to be a hit on your ego a little. But just keep fighting, what else is there to do.
 
Restaurant business is always very tricky.

And yea, it is a hit to one's ego to take a hit.... that is, if you're not a stubborn motherfucker.

We all get knocked down, that's just life. The ones that succeed are those that are too damned stubborn to stay down.... sorta like Rodney King. :lmao:
 
BIKINIMOM said:
Restaurant business is always very tricky.

And yea, it is a hit to one's ego to take a hit.... that is, if you're not a stubborn motherfucker.

We all get knocked down, that's just life. The ones that succeed are those that are too damned stubborn to stay down.... sorta like Rodney King. :lmao:
Click to expand...

Can't we all just get along? LMAO. People will always fight with each other. It's what makes us human..
 
juiceddreadlocks said:
Nah it's more like I was consulting for a doc wanting to open a sleep disorders testing center and he's leaving me high and dry for time worked plus cutting me out of the loop for a durable medical equipment supplier contract.
Click to expand...

its the bane of consultancy. you give alittle hoping to wow them and get a large contract, but you usually eat 2 hours for every hour thats billable.

can you prove some sort of oral agreement on the hours worked or vendor selection? If its solid and you threaten to sue, you might recover some money.
 
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