My First Business Failure

4 Lessons from my Mistakes

Njikwe

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Failure can absolutely suck it.

Even with the expansive methodologies available on managing failure, nothing prepares you for the emotional sting of it.

Now I am no stranger to failure. I failed at math (multiple times), failed at job interviews (that one phone interview that makes me cringe when I remember it), failed on the job (whole other story) but failing at something that demands your physical, emotional, financial, and mental capabilities is a whole other beating no one prepares you for.

I hate it and quite frankly I could do without it. Dramatic I know.

I have always dreamt of being an entrepreneur. The freedom- whether monetary or otherwise, was appealing. I envisioned it, dreamt, and tasted it even in my imaginations. Yet I failed at my first try. So far, in the last 90days+, I have made 0 dollars from my first online business.

Have I lost my mind? Ask again in a couple of days.

When the pandemic hit, I pondered ways to not only utilize and maximize my time but make some money in the process. 2020 presented that opportunity. Amidst the madness, with no training whatsoever, I took a dive headfirst into learning how to set up an online store with a limited budget and low expertise. Even with the basic knowledge I had, I convinced myself that I was gonna hit it big in a matter of months. I imagined myself as an outlier. That rare unicorn that would make it in the arbitrary time frame I created in my head.

What could possibly go wrong?

My business failing that's what.

Am I discouraged? A bit. Hurt? Oh my God Yes. Ego crushed? Yes.

Will I try again? Yes!

It took some time to come to this point where I can cautiously say, I am glad I failed. It comforts me knowing I am in good company with great people who have failed on their way to success.

The Beginning

Given my limited budget and expertise in setting up an e-commerce store, I decided on Dropshipping. For those unfamiliar, dropshipping is a simplistic reselling business model that entails accepting customer orders without owning or having…

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Njikwe

Self-Development, Self-Improvement, and Marketing Writer. Voracious Learner, joyful coffee addict.