Page 14 - The 7 Day Startup: You Don’t Learn Until You Launch - PDFDrive.com

The business was not profitable.

It wasn’t profitable in year one, year seven, or anywhere in between. I didn’t
become a millionaire before 30. I went backwards as all of my friends went
forward. I was 30, living week to week, renting and earning a lower wage than
anyone I knew.

It got worse before it got better.

I realized that bringing in more revenue wouldn’t solve my profitability problem.
The business was not growing. I tried everything, and I mean everything, to
make it work. No matter what I did, I couldn’t move the needle.

I’d have big successes like winning a $20,000 project, and then a big failure like
writing off a $10,000 invoice or hiring the wrong person. It was never consistent.

I even bought another company for $40,000, thinking I’d add straight “profit to
the bottom line.” My revenue went up by $40,000 and so did my costs.

I regularly worked at Christmas time to appease my worst clients. I struggled
with loneliness, a lack of motivation, and confidence. I had put myself out there,
leaving my friends and co-workers. I knew people expected big things. I
expected big things. I had never expected to fail.

There were plenty of positive signs where I’d think things were going to work
out, but then something would change and I’d be knocked back on my arse
again. This. Happened. All. The. Time.

I lost faith in my own judgment and committed to various courses of action,
thinking they would save my business, only to have each one fail. After seven
years in business I was turning over about $180,000 per year, but was still only
making around $40,000 per year. I had never got even close to my honeymoon
goal of a $100,000 salary.

In the end, I accepted that it was a problem I couldn’t solve. I sold the business