How do I forget a failed business.
so basically I started a business with one of my friends but he stole it from me, blocked me, ext. I was payed back on most of the money I had put back in, but still had $300 dollars owed to me. and since it was pretty new only $600 dollars of profit (50/50 split, so he got $600 too).
so a loss of $900 or $300 if you think about it technically. but I lose sleep over it, I cant focus on anything else because of it. and i just regret ever starting it with him, because I would rather have had him as a friend then have a little bit of money.
Anyways, my question is how did you guys get over your first failed business, not financially because I've made way more then $900. but it's just messing with my brain and sleep, and I have trouble trusting people with my money, or to do a job for me.
thanks to anyone who offers help, also if your gonna say "just forget about it, its only $900" dont even comment, because its not about the money.
how to forget a failed business
byu/Yousifisamazing inEntrepreneur
Posted by Yousifisamazing
6 Comments
If you do not learn from history, you are doomed to repeat it. Don’t forget it. Move forward with less bliss and more wisdom.
>Surprising new research from NYU and the Wharton School shows that entrepreneurs who start a business on their own are likelier to succeed than those who do so with one or more partners.
>A Study of 3,526 Companies Shows 1 Decision Makes Startups More Successful. Most Founders Do the Opposite
Reading wouldn’t be the worst thing to reframe the issue. Ignoring what you just don’t want to know is what got you into this mess. Ever hear *never start a business with friends or family?*
That really sucks, sounds like a shitty but valuable lesson though. I’ve always heard never go into business with friends, because if things go sour you can lose meaningful relationships. You’re spot on that friendship is worth more than the money. But you also learned that this guy wasn’t really a good friend, or a good business partner. Look forward and use it as a lesson for your next venture
I think you need to reframe this “failure” and turn it into a lesson.
What can you learn from this experience about future business partners, setting up business structures/share allocations up front etc.
Unsure if you were incorporated or not but that doesn’t stop you from thinking of this and expanding on it for future businesses.
I believe the best way you can forget about it for the sake of better sleep would be to capitalize on other thoughts.
What if you just continue that business on your own now. Just keep that in mind tonight. Don’t you know everything about your business? How hard would it be to restart? I believe it should not be any different from how it was before.
I think it speaks volumes to the character that your friend man.. If he didn’t screw you over in this business, looks like they would have screwed you over another way in the future.
Most people show their true self in extreme situations like this. The fact that you’re not showing complete animosity towards this person shows you’re stepping in the right direction in terms of attitude. Try to push through man, you’ll get through this coming out as a better person I’m sure.
Failure is a learning experience, focus on the lessons and move forward.