Business Failure! - How a failed business can HELP you!

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Good day subscribers thank you so much for joining me today i am jeremy this is a financial education channel and today we’re talking a little business we’re talking about business failure and how a failed business can actually help you grow as a person grow as a future business person i have failed in business i have failed multiple businesses i that i tried when

I was really young and i failed on them when i was 18 19 20 years old but though those failed businesses they helped me immensely start my current business which is finally a success i finally broke through i finally created a successful business and if you go and you look at tons of great entrepreneurs we’re talking people who ended up building huge companies

They have failed in businesses before they have you know businesses that did not succeed so there’s this notion out there that you have to succeed in your very first business otherwise it’s not cut out for you that’s completely false you can learn so much by failing a business by having a business fail on you i’ll give you some examples on things i’ve learned for

Instance when i was around i think it was around 20 maybe 21 years old i had an idea to start this business which was like colored light paint switches so you know the switches that you turn on your lights or whatever so there’s a cover that goes over it i had this idea that i would offer all these different colors of basically those plates that go over your light

Switches and i would sell those online in my own online store so i created this online store i created the whole process on how i have these i guess light switch covers painted and so i have them painted so well that it’s very hard to chip them because that’s something i learned early on it would chip really easily so i created this whole process on i sure i got

This process probably patented or something on how i would do it where it would be very durable so when finger nails and whatnot hit the colored light switches it wouldn’t mess him up and i had this idea of insta everybody’s just having white lights which covers that you know if you wanted a green one or a red one or a maroon one or whatever color you would have

It it’s like a new expression type thing so that was my idea i created the online store i learned how to do that i learned about business license all that stuff and i put it out there and no customers really came to me and i just gave up on it because i was working for a pretty good company i had a pretty decent job at that time i was really getting into stocks

And whatnot i was making good returns on the stock market and whatnot and i just came gave up on the business so what i learned from that is i learned how to set up and how to set up a website i learned how it’s not going to be easy if you just expect customers to come to you like in droves all sudden when you create something that’s not gonna happen you need to

Learn how to market you learn how to get your name out there and whatnot how to get people excited all those types of things i learned how to set up a business and the business license process you have to go through all that kind of stuff so i learned a ton of stuff and that all helped me with my current business because then i learned okay you know if i really

Want this if i really want this to succeed i got to be willing to talk to people i got to be willing to market myself a certain way i need to have a website better than what i had before i need to do this and do that i mean in all those things helped in all those early processes that i was learning for the very first time when i start those early businesses no it

Was easy because i already understood okay i know how to set up a business license that’s really easy i know how to set up a website that’s so easy this and that and this and that that all became a very easy process so it didn’t take a ton of energy out of me so when the business was actually ready to get rolling i could get it rolling properly and i could focus

On what need to be focused on which was trying to get customers now even in my current business i start that toward the end of october beginning of november last year four or five months in we’re talking january february timeframe i was still not having success i was doing like pathetic maybe five hundred seven hundred dollars in revenue per month per month good

Thing i had plenty of savings behind me so i to live off that and whatnot but i was not succeeding at all i was barely getting any jobs it was so hard to get my name out there those kinds of things then what i realized is i realized i needed to get into some different products and services to sell and whatnot that were related industries that people were looking

For so i started kind of doing that and that’s how i broke through and then i had my very first customer in march a big customer had the belief in me and i started doing lots of projects for them and then i had all that work to show all my future customers and then now nowadays were almost a year into my business and i don’t even really have time to go and reach

Out to new customers anymore customers come to me now i have my client base built up where i have a certain amount i’m going to do with pretty much everybody every month and then people just come to me because they heard my name off my website off my business channel videos or from other customers of mine currently who are partners with that other person so they

Come to me now and so learning from the first business failure in the second business failure that helped me in this business because i learned it’s not gonna be easy i got to really try hard at this and i can’t just give up because oh it didn’t work out initially it didn’t work out so you know what i give up no you can’t give up you got to try it you got to really

Go after it for months and months and months if not a year or two this channel is a perfect example this channel it took five months five months i think to grow to 100 subscribers i had this powerful message i want to get out there talking personal finance and talking to stock market and business and teaching you know people all these things that don’t matter what

Income you’re from don’t matter what area you’re from no matter what race no matter what gender ethnicity anything you can come to this channel and you can learn it’s not for like some privileged class or something this is free content you guys can learn from it and learn a lot of things that were passed on to me through family members or friends or things that

I’ve taught myself or things i’ve learned from others who weren’t family or friends but are like role models of mine and whatnot so that was my idea and five months in i was no i’d finally maybe hit a hundred subscribers around that time i had 70 videos maybe post it and then i finally had my success i finally had the first video that really took off and propelled

My channel and it was called how to negotiate a car deal where i talked about the negotiation process i posted that video and it kind of got rolling right up to that but not that many views and then over the next month or two that’s when it really started to build up and bring in you know 50 hundred views per day or whatever which is still not a ton of views but

It was a lot for my channel at that time and then i started to build subscribers and now now i’m able to gain about a hundred subscribers every day every day and that’s growing so five months to get to a hundred subscribers a day to get to a hundred subscribers now so the channels on a way different place but if i had given up if i’d given up five months in and

Said you know what screw this no one cares about my channel no one cares to listen to my message no one cares to learn to me this channel would have never existed it would never have gotten to where it is now and it’s government grow a lot over time because you guys share these these videos and you watch the new videos that come out and whatnot and all those kinds

Of things which then puts it on other people’s news feeds on youtube and whatnot which helps for probably growth even more so none of this would have ever happened if i would have just quit literally if i just quit and said you know what this isn’t gonna work out no one cares to listen to me no and it was all about the powerful message i had if it was like simply