How to fail in business…

Many clever people of this world said “ failure is the best lesson”. It is indeed.

It is my first post on Medium.

I tried to blog many times however I always got into a moment when I did not have enough time to write and the idea was failing.

Never thought that I am gonna use Medium. In the past I created platform that was supposed to be better than medium. I failed. More about this in a few minutes.

I am a student. Undergraduate, in the UK. Finishing within a month with 2.1- I hope. Not British, but speak in a few languages.

I will try to stay anonymous for as long as possible, as I want to reveal a few secrets which might influence my current business situation.

I owned 4 businesses, one of them founded on my first year (when I was 20). Currently I am running my 5th and 6th business (aged 23).

I failed. Was it only 4 times, with my 4 businesses? No. I failed many times, but I keep going.

Many clever people of this world said “ failure is the best lesson”. It is indeed.

People may say that I failed too many times to keep trying. But I get up stronger every time and make one step further to fail again.

As many students I got some additional support to pay my current living expenses. I used that money to invest rather than to buy another smartphone or laptop. I also travelled as much as I could to meet new cultures, people and languages together with my fiancee- yep in age of 23…

First business last for 3 years, just got strike off. Web Design and Marketing. Simple and amatour, but my first project was for the University and made quite a lot £££ as a student.

Second one, Blogging Platform ended up killing itself due to lack of team decisioning-making. Lost around £4000. For a first year student, it was enourmous amount of money. However I learned how to choose business partners, and how to make better decision- what should be analysed before, how to prepare a better offer to an investor and that start-up needs to be very, very, very elastic.

Third one: local advertising agency. Was killed even before trading. Lack of competency, and lack of big money- wrong forecasting.
I also learnt that people are the most important part of the business, but the are also the worst part if chosen wrong.

Forth one: Interior Design company. Yes. I tried many things. In this business I was involved due to “better” experience than my business partner. I was responsible for business development, he was responsible for “dirty work”. Again, lack of motivation/skills from co-founder and lack of interest in this industry from my side killed the company after a few months. I learned that I really need to do what I love, otherwise it does not matter if the business makes money- I lose “the feeling” to the business.

Fifth business: I continued my first Web Design business but extended to online marketing and branding(!). I was creating online recognition since I was 16 and I was doing small websites together with marketing for local businesses. I understood how important online recognition is. I decided to focus more on Branding as I was improving my skills in this area for 3 years. 
I also start to write a book about Branding for small business. And here is where my sixth business comes to life.

Sixth Business: Coffee shop. I always got in my mind a restaurant and hotel with 5 start and at least 1 Michelle star. I got a bit of experience working at University Canteen and a few other bars during my studies, so I decided that I need to check it. 
However, the reason for opening a coffee shop was much deeper. 
If I want to concentrate on Branding and sell good Branding strategies, I need to check them on myself. During the next 18 months I will run both businesses, which will support each other. Web Design & Branding agency will provide the coffee shop with its services and trying to learn as much as possible about local business’ issues. It is going to be a huge challenge and experiment, especially as I have chosen location not on the main street and provide very unique mix of menus. We will see how it works. I am more than happy to share the progress with you all.

I think my previous experience may help a little bit and also I would love to help anybody who is running a business and facing any problem. 
I am not an expert. My experience is just a 3 years, but it was very intense, full of lessons.

I learned how to fail. Answering the question added as a title of this post.

How to fail? Quickly, Fast, Rapidly! Analyse, Learn, Remember and get up, stop crying, punch you in your face and keep going with your next idea/goal. You are not a kid anymore. It is adults world which you have chosen.

AMA if you want.

S

PS: I know that post was more about me, rather than lessons. 
It has also another purpose: to give me a look back in a few months :)

Sorry for any grammar errors, I still work on it.