My First Business Failed

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I had spent over 6 years learning, studying, and trying just about everything I could in the self-improvement space.

Since the first time I read the book, “Rich Dad, Poor Dad” at the age of 17, I loved everything self-improvement and doing things differently than the “norm.”

In 2022, after getting connected with someone who shared a similar vision, outlook, and desire for more out of life, we decided to launch a business.

Our vision was to create a personal development roadmap and coaching curriculum for people to help them maximize their potential and become the best version of themselves.

After COVID, there were so many people who let negative habits destroy their lives… and it led them to go down a deep, dark path of feeling isolated and alone.

Our goal was to create a sense of community and help people out of these dark times.

I had spent over $10,000 on online trainings, software, resources, and paying him a monthly income so he could work full-time on the business and not have to go back to his day job.

The idea was an A+.

But the execution was a D-.

We would have our weekly Monday morning calls to touch base and review progress… and every week we seemed to be in nearly the exact same position.

My business partner assigned himself the role of being the person with the “vision," while I was the person who did the work, made things happen, and connected the dots.

I was open to this concept at first.

So I continued to operate this way for a couple of months, continuing to pay him an income.

It wasn’t until I was on a long walk with my girlfriend that she asked me a simple question and opened my eyes to reality.

She goes… “So, what is he actually doing?”

I was puzzled at first… I didn’t know how to answer.

But really, the honest answer was “nothing.”

We were having meetings week after week and I was doing 99.9% of the work.

Nothing was happening, no progress was being made, no boxes were being checked.

It was the classic situation of “all talk, no work.”

After having a long conversation with him, we decided to part ways.

So, what did I learn?

There is a long hard road that connects an idea to execution.

A great idea is meaningless if you aren’t able and willing to do the work to turn it into a reality… that’s execution.

Execution is why Apple, Microsoft, Amazon, and many other great companies exist today.

Anyone can have a great idea. It’s the execution of that great idea that separates amateurs from professionals.

AND the other lesson…

While this is not true 100% of the time… I still believe there's tons of value in it:

If you want something bad enough, you have to be willing and learn to:

• Cut people off

• Burn the boats

• Do the work yourself

• Take complete ownership of everything in your life

And find someone a business partner who is equally committed to theses principles above… otherwise you’ll be spinning your wheels.

That’s all I have for today!

I hope you enjoyed…

Thanks for reading!

Until next time,

Eric Higgs

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