Author Topic: Anyone have a "False Start"?  (Read 897 times)

mustache you a question

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Anyone have a "False Start"?
« on: September 21, 2017, 07:06:32 AM »
I've been working on getting my Amazon FBA business launched, had the product I was planning on selling picked out and was in the process of speaking with suppliers when I found out that my margins would be crushed by in-bound shipping unless I invested more than what I had planned to.  I call this a false start, I was ready to start my business until I realized I wasn't.  Has this happened to anyone?

PS this isn't going to deter me in any way.  I still plan on getting my business started just was a little disappointed that I thought I had everything lined up but need to go back to the drawing board.

jamccain

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Re: Anyone have a "False Start"?
« Reply #1 on: September 21, 2017, 08:42:55 AM »
It happens all the time to everyone.  Nothing ever works out as well as you plan on it.  When you're looking to start, it's all roses and when you start it's all ______.  You have the right attitude, just adjust and move forward.  You're going to end up in a business you find by being in business.  Enjoy the journey. 

jooniFLORisploo

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Re: Anyone have a "False Start"?
« Reply #2 on: September 21, 2017, 08:48:25 AM »
Yep! I've had several great successes and several false starts. My most recent false start was one year ago, so it's not that more experience has prevented these. It all seems more like hit-or-miss to me, experimentation, some things fly right off the bat, some don't. False starts suck because they can tire us -investing so much thought, time, energy, effort, planning, networking only to see it bomb in some way, that's hard on the businessperson (financially, energetically, etc). But totally normal. I detailed my most recent false start on a thread somewhere in this subforum.
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mustache you a question

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Re: Anyone have a "False Start"?
« Reply #3 on: September 21, 2017, 10:34:40 AM »
Yep! I've had several great successes and several false starts. My most recent false start was one year ago, so it's not that more experience has prevented these. It all seems more like hit-or-miss to me, experimentation, some things fly right off the bat, some don't. False starts suck because they can tire us -investing so much thought, time, energy, effort, planning, networking only to see it bomb in some way, that's hard on the businessperson (financially, energetically, etc). But totally normal. I detailed my most recent false start on a thread somewhere in this subforum.

I'll be sure to look for that!  It is frustrating when it happens, just have to keep on keepin on I guess

SC93

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Re: Anyone have a "False Start"?
« Reply #4 on: September 21, 2017, 12:47:00 PM »
I've had several. Too many to count. You name it, I've tried it to see if I like it or not.... and it was usually or not. I normally do a little research, see if it might be for me. See what profit I might be able to make. Up until about 3 years ago I made sure I could scale the business in a short time, not so now because I don't want any more direct employees. Then I'd get it going and see it was not what I thought it would be, so I'd either sell it for what I had in to it or close it down. I never was scared to move on quickly. Once I decided I didn't want anymore workers it was easy to find something I like to do to pass time.

I also had some false starts per se in the lawn business. I'd start up a lawn care business and someone would offer to buy it so I'd sell it. I did find the lawn business to be lucrative but it's a real time drain. Or maybe it's just me because once I start marketing something I just can't stop. I live it 24/7.
« Last Edit: September 21, 2017, 06:49:47 PM by SC93 »

SeattleCPA

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Re: Anyone have a "False Start"?
« Reply #5 on: September 27, 2017, 06:33:26 AM »
Two hopefully on point comments (though not really so much about false starts as about probability of entrepreneurial success)...

First, I think an entrepreneur wants to get to the state where she or he has a good business. One that pays a good "wage," gives a good return on the capital invested... and then also makes for interesting and meaningful work. If your chance of failure or success on an individual venture is 50%, as long as you can go to bat three or four times, you've got a really high probability of success of eventually getting a good business. Because failing three or four times in a row is a pretty "low probability" outcome. E.g., 50% times 50% times 50% equals a 12.5% failure rate. Go to bat four times in a row and your chance of failure all four times drops to about a 6% failure rate.

Second, I propose we want to be careful about what definition we use for failure or for success. Often "failure" isn't really that bad. And even something that to some might appear only "modestly" successful can be a really good deal. Finally, one "big" small business win along the path of life can be a gamer changer.

A few years ago, I blogged about a serial entrepreneur who'd been involved in a variety of ventures. How you assessed his results really depended on which of his ventures you focused on. If you looked at his entire "body" of work, though, pretty good results. That post appears here, by the way:

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bwall

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Re: Anyone have a "False Start"?
« Reply #6 on: September 28, 2017, 12:12:43 PM »
Happens to me all the time. Usually I get an idea and at some point ask 'why isn't everyone doing this??? It's a great idea!" Then, I analyze it until I figure out the flaw in my idea. So, to me that's what happened in your situation. You had a great idea and finally figured out why everyone isn't doing it.

My biggest concern is when I can't find the flaw in the idea.