How I Flushed $300k Down The Toilet while Building a Startup

Lessons Learned from an Entrepreneurial Misstep

After my previous article, ‘How a Simple Countdown Timer Website Makes $10,000 Per Month’ went viral (35k reads), I wanted to write about a failed business and the lessons that can be learned from it.

In search of the perfect real-world example, I stumbled upon just that yesterday — a Reddit thread (yes, I know, I love Reddit threads).

The title was ‘I lost $300k on a project… 3 lessons I learned.’ It was a goldmine, and I spent the next 20 minutes reading each comment and dissecting all aspects.

I knew this could be the perfect article to write about the things to keep in mind when starting a business.

So let’s first know what this “Uber for Plumbers” business was and then we will get to the point of what we can learn from this failed startup.

How the Journey Started?

This is the story of Igor, a 27-year-old entrepreneur from Ukraine.