Comments on: 7 Reasons My First Business Failed http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/ Quick Sprout is a digital marketing and business blog based on the experiences of an entrepreneur, Neil Patel. Fri, 10 Feb 2012 11:09:32 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Simple Reasons Why Some Businesses Failed in 2010 | iTrendStyle http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-85887 Simple Reasons Why Some Businesses Failed in 2010 | iTrendStyle Mon, 20 Jun 2011 05:00:34 +0000 http://www.quicksprout.com/?p=571#comment-85887 [...] - Solve a Unique Problem. - 7 Reasons My First Business Failed by Neil Patel (Crazy Egg and KISSmetrics) [...] [...] – Solve a Unique Problem. – 7 Reasons My First Business Failed by Neil Patel (Crazy Egg and KISSmetrics) [...]

]]> By: Business Blog / Simple Reasons Why Some Businesses Failed in 2010 by COLOURlovers :: COLOURlovers http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-85765 Business Blog / Simple Reasons Why Some Businesses Failed in 2010 by COLOURlovers :: COLOURlovers Thu, 16 Jun 2011 20:56:14 +0000 http://www.quicksprout.com/?p=571#comment-85765 [...] - Solve a Unique Problem. - 7 Reasons My First Business Failed by Neil Patel (Crazy Egg and KISSmetrics) [...] [...] – Solve a Unique Problem. – 7 Reasons My First Business Failed by Neil Patel (Crazy Egg and KISSmetrics) [...]

]]> By: Neil Patel http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-84271 Neil Patel Wed, 11 May 2011 19:41:59 +0000 http://www.quicksprout.com/?p=571#comment-84271 Wow that's a great story. I had an RC car at around that age wish I had thought of that! I collected basketball cards instead of Pokemon though :) Wow that’s a great story. I had an RC car at around that age wish I had thought of that! I collected basketball cards instead of Pokemon though :)

]]> By: Vlad http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-84259 Vlad Wed, 11 May 2011 16:01:33 +0000 http://www.quicksprout.com/?p=571#comment-84259 Well at least your story sounded interesting and was a real business. My first entrepreneurial venture happened at the age of 10 consisting of me letting kids in my neighborhood drive my RC Car in exchange for 1 pokemon card. It worked great until parents found out there kids were getting scammed. We only got 11 cards in. Well at least your story sounded interesting and was a real business. My first entrepreneurial venture happened at the age of 10 consisting of me letting kids in my neighborhood drive my RC Car in exchange for 1 pokemon card. It worked great until parents found out there kids were getting scammed. We only got 11 cards in.

]]> By: Neil Patel http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-83730 Neil Patel Wed, 27 Apr 2011 20:08:27 +0000 http://www.quicksprout.com/?p=571#comment-83730 Small world! Thanks for translating and sharing my blog. Very much appreciate :) Small world! Thanks for translating and sharing my blog. Very much appreciate :)

]]> By: Michitaka http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-83689 Michitaka Wed, 27 Apr 2011 06:14:13 +0000 http://www.quicksprout.com/?p=571#comment-83689 Neil, I' m japanese web-app developer trying start up in Japan. I found your this thougutful entry via Delicious, so I introduce it to my blog translating in Japanese on yesterday , soon it was picked up to one of the most popular japanese social bookmark service,HATENA bookmark. Many Japaese who involve in startup or web-app business probably do not make the same mistake you mentioned. Thanks for sharing your story! Neil,

I’ m japanese web-app developer trying start up in Japan. I found your this thougutful entry via Delicious, so I introduce it to my blog translating in Japanese on yesterday , soon it was picked up to one of the most popular japanese social bookmark service,HATENA bookmark. Many Japaese who involve in startup or web-app business probably do not make the same mistake you mentioned.

Thanks for sharing your story!

]]> By: Neil Patel http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-77631 Neil Patel Mon, 10 Jan 2011 03:45:55 +0000 http://www.quicksprout.com/?p=571#comment-77631 I should have rephrased it. I don't you should pay one if you are a small business. Once you are making a bit more money, you should hire one. All of the good ones that I know of are really expensive. :( I should have rephrased it. I don’t you should pay one if you are a small business. Once you are making a bit more money, you should hire one.

All of the good ones that I know of are really expensive. :(

]]> By: smash http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-77566 smash Sat, 08 Jan 2011 04:27:41 +0000 http://www.quicksprout.com/?p=571#comment-77566 Hey Neil You mentioned not to pay internet marketing companies to do the marketing and also that some of those companies took your money without giving you much service if at all. But you have your own internet marketing company. So who do you expect as your customers? Hey Neil
You mentioned not to pay internet marketing companies to do the marketing and also that some of those companies took your money without giving you much service if at all. But you have your own internet marketing company. So who do you expect as your customers?

]]> By: Business isn’t fun! http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-77183 Business isn’t fun! Wed, 29 Dec 2010 22:10:22 +0000 http://www.quicksprout.com/?p=571#comment-77183 [...] a problem – a business doesn’t need to be cool, it needs to solve a problem in the market place. And the problem you are trying to solve has to be one that people are [...] [...] a problem – a business doesn’t need to be cool, it needs to solve a problem in the market place. And the problem you are trying to solve has to be one that people are [...]

]]> By: Neil Patel http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-68308 Neil Patel Mon, 21 Jun 2010 03:15:50 +0000 http://www.quicksprout.com/?p=571#comment-68308 You gotta pay to play ;) You gotta pay to play ;)

]]> By: sell textbooks http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-68141 sell textbooks Tue, 15 Jun 2010 13:56:20 +0000 http://www.quicksprout.com/?p=571#comment-68141 This is a great post to help motivate people. You could not be more correct when you say no risk..No Reward! This is a great post to help motivate people. You could not be more correct when you say no risk..No Reward!

]]> By: Neil Patel http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-67838 Neil Patel Fri, 04 Jun 2010 23:28:39 +0000 http://www.quicksprout.com/?p=571#comment-67838 Well the good news is... you learned your lesson and are financial much smarter this time around than last. Well the good news is… you learned your lesson and are financial much smarter this time around than last.

]]> By: Taru http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-67801 Taru Fri, 04 Jun 2010 16:32:06 +0000 http://www.quicksprout.com/?p=571#comment-67801 Thanks for sharing your story. My first adventure 5 years ago turned out to a disaster. I opened up my first website, an online shop for women's fashion. I guess I knew what I was doing in terms of the industry and how to get people to buy my stuff/get traffic, but unfortunately I was too young and unconscious about the financial part and got stuck with too much of stock. One other fault was that I hired third parts for al lot of work, which made me pay a lot of money on things I could have made myself.. Better luck this time! Thanks for sharing your story. My first adventure 5 years ago turned out to a disaster. I opened up my first website, an online shop for women’s fashion. I guess I knew what I was doing in terms of the industry and how to get people to buy my stuff/get traffic, but unfortunately I was too young and unconscious about the financial part and got stuck with too much of stock. One other fault was that I hired third parts for al lot of work, which made me pay a lot of money on things I could have made myself..

Better luck this time!

]]> By: Spam Check http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-64166 Spam Check Sun, 07 Mar 2010 06:07:46 +0000 http://www.quicksprout.com/?p=571#comment-64166 I got what it takes to beat my competitors in my blog. I don't mind whether they have a team of SEO or SEMs I can beat them using my dedication and heart. I got what it takes to beat my competitors in my blog. I don’t mind whether they have a team of SEO or SEMs I can beat them using my dedication and heart.

]]> By: 10 Business Mistakes That Will Nearly Break You… Literally http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-60271 10 Business Mistakes That Will Nearly Break You… Literally Mon, 28 Dec 2009 16:29:44 +0000 http://www.quicksprout.com/?p=571#comment-60271 [...] have to a tendency to mess things up through stupid mistakes. So save yourself from being one of these foolish entrepreneurs by avoiding the following [...] [...] have to a tendency to mess things up through stupid mistakes. So save yourself from being one of these foolish entrepreneurs by avoiding the following [...]

]]> By: Neil Patel http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-59277 Neil Patel Thu, 17 Dec 2009 01:50:29 +0000 http://www.quicksprout.com/?p=571#comment-59277 Yes, put it into actin because without any action, there won't be any reaction. Yes, put it into actin because without any action, there won’t be any reaction.

]]> By: Guildford http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-59139 Guildford Wed, 16 Dec 2009 06:19:22 +0000 http://www.quicksprout.com/?p=571#comment-59139 You have mentioned a very good saying: is solving a unique problem that others haven’t solved yet. When doing any site, i have to put that in mind, then i am sure it will help. You have mentioned a very good saying:
is solving a unique problem that others haven’t solved yet.
When doing any site, i have to put that in mind, then i am sure it will help.

]]> By: Neil Patel http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-56907 Neil Patel Wed, 02 Dec 2009 02:33:30 +0000 http://www.quicksprout.com/?p=571#comment-56907 Personal experiences are the best, so if you must, than please make as many mistakes as you can ;) If you can though, just learn from mine and save yourself the time. Personal experiences are the best, so if you must, than please make as many mistakes as you can ;) If you can though, just learn from mine and save yourself the time.

]]> By: SiteFiend http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-56880 SiteFiend Wed, 02 Dec 2009 00:32:45 +0000 http://www.quicksprout.com/?p=571#comment-56880 Very interesting post here Neil. I will try and learn from your mistakes even though personal experience can be better than anything else! Thanks :) Very interesting post here Neil. I will try and learn from your mistakes even though personal experience can be better than anything else!
Thanks :)

]]> By: Joshua http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-54660 Joshua Sun, 01 Nov 2009 08:29:10 +0000 http://www.quicksprout.com/?p=571#comment-54660 You never fail if you never give up if the website failed and you tried somthing new then you never did fail. You business may have not suceeded but you learned alot which means what you suceeded. You never fail if you never give up if the website failed and you tried somthing new then you never did fail. You business may have not suceeded but you learned alot which means what you suceeded.

]]> By: Danail Donchev http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-51999 Danail Donchev Wed, 02 Sep 2009 05:48:01 +0000 http://www.quicksprout.com/?p=571#comment-51999 Most people don't think about driving traffic to their website until they launch it.But without it your website is nothing just another uselesss.com project.Find a niche before starting a project because the competition is huge in some niches.One more thing you must be realistic about your goals.If it is your first business online do not attempt to compete with the sharks like Neil did. Be unique. Most people don’t think about driving traffic to their website until they launch it.But without it your website is nothing just another uselesss.com project.Find a niche before starting a project because the competition is huge in some niches.One more thing you must be realistic about your goals.If it is your first business online do not attempt to compete with the sharks like Neil did.
Be unique.

]]> By: Neil Patel http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-50897 Neil Patel Sun, 09 Aug 2009 15:08:20 +0000 http://www.quicksprout.com/?p=571#comment-50897 ROFL that's hilarious. Too bad your mom caught you. ROFL that’s hilarious. Too bad your mom caught you.

]]> By: Dave http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-50817 Dave Sat, 08 Aug 2009 00:50:36 +0000 http://www.quicksprout.com/?p=571#comment-50817 thanks for sharing neil.. :) i remember my first venture when i was trying to sell gum at school(i was about10).. the uniqueness of my business model was the country i was attending school in banned chewing gum.(yea shocking) i got my "inventory" during weekly family visits to a neighbouring country. profits and margins were coz my sales were in a currency that was higher than the currency of my inventory. you must have guessed, mom caught me and that was the end of it. *hint: not many countries ban chewing gum :( thanks for sharing neil.. :)

i remember my first venture when i was trying to sell gum at school(i was about10).. the uniqueness of my business model was the country i was attending school in banned chewing gum.(yea shocking) i got my “inventory” during weekly family visits to a neighbouring country. profits and margins were coz my sales were in a currency that was higher than the currency of my inventory.

you must have guessed, mom caught me and that was the end of it.

*hint: not many countries ban chewing gum :(

]]> By: 51 Ways to Become a Better Entrepreneur http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-50801 51 Ways to Become a Better Entrepreneur Fri, 07 Aug 2009 22:49:41 +0000 http://www.quicksprout.com/?p=571#comment-50801 [...] the past 8 years I have started around 9 companies. Sadly most of them failed, but the good news is, I have learned a lot over the years. Some of these things maybe obvious to [...] [...] the past 8 years I have started around 9 companies. Sadly most of them failed, but the good news is, I have learned a lot over the years. Some of these things maybe obvious to [...]

]]> By: Neil Patel http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-50661 Neil Patel Wed, 05 Aug 2009 05:20:30 +0000 http://www.quicksprout.com/?p=571#comment-50661 Ouch, that's a bummer. Talk about bad luck. Unfortunately, employees do cause may challenges, but if you can find the right ones to mold and train, you'll find yourself living a lot happier. Ouch, that’s a bummer. Talk about bad luck. Unfortunately, employees do cause may challenges, but if you can find the right ones to mold and train, you’ll find yourself living a lot happier.

]]> By: used tires http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-50593 used tires Mon, 03 Aug 2009 17:28:51 +0000 http://www.quicksprout.com/?p=571#comment-50593 Here are some of the reasons why business my family have had failed. 1) When we had a super market, employees stole from us alot. 2) When we had a pizzeria, we didn't investigate the pizzeria enough before buying it, and we had to pay back taxes from a previous owner, that really set us back in the hole before even starting the business. Not to mention that on our first day we were really busy, and 2 of the employees decided to quit on the first day, they no-showed which really screwed us over and lost alot of our business clients. Till then, Jean Here are some of the reasons why business my family have had failed.

1) When we had a super market, employees stole from us alot.

2) When we had a pizzeria, we didn’t investigate the pizzeria enough before buying it, and we had to pay back taxes from a previous owner, that really set us back in the hole before even starting the business. Not to mention that on our first day we were really busy, and 2 of the employees decided to quit on the first day, they no-showed which really screwed us over and lost alot of our business clients.

Till then,

Jean

]]> By: Thinking about starting a business? Here is why you shouldn't! http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-50313 Thinking about starting a business? Here is why you shouldn't! Tue, 28 Jul 2009 18:57:19 +0000 http://www.quicksprout.com/?p=571#comment-50313 [...] firing someone isn't the worst thing you'll have to do. Every business has it's own set of problems; you just have to be willing to lay down the law, when the time is right. It won't feel right, [...] [...] firing someone isn’t the worst thing you’ll have to do. Every business has it’s own set of problems; you just have to be willing to lay down the law, when the time is right. It won’t feel right, [...]

]]> By: Neil Patel http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-50228 Neil Patel Mon, 27 Jul 2009 01:04:41 +0000 http://www.quicksprout.com/?p=571#comment-50228 No risk=no reward. So it's wise to just fail forward fast. No risk=no reward. So it’s wise to just fail forward fast.

]]> By: Neil Patel http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-50227 Neil Patel Mon, 27 Jul 2009 01:03:55 +0000 http://www.quicksprout.com/?p=571#comment-50227 K.I.S.S Some of the best ideas are the most simple. K.I.S.S Some of the best ideas are the most simple.

]]> By: cheapdvds http://www.quicksprout.com/2009/01/25/7-reasons-my-first-business-failed/#comment-49203 cheapdvds Fri, 10 Jul 2009 08:58:14 +0000 http://www.quicksprout.com/?p=571#comment-49203 Well, I'm afraid that sometimes, in pursuit of perfection, I tend to make things way too complicated. I appreciate that you mentioned this point. It consumes a lot of time and effort, and it's is often totally counterproductive. Well, I’m afraid that sometimes, in pursuit of perfection, I tend to make things way too complicated. I appreciate that you mentioned this point. It consumes a lot of time and effort, and it’s is often totally counterproductive.

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