Is a Failed Business Really a Failure?
Lessons Learned From a Failed Business
(This blog post was originally posted on July 6, 2018 on LinkedIn. An update will be included at the end.)
My Failure
For nearly eight years now, I have worked tirelessly to make my business succeed. It appears that in the coming weeks, I will likely close the legal entity I created, retaining only the business name—one that has yet to become profitable. And yet…I am thrilled!
"Huh?" you say. Why would anyone be thrilled by the apparent failure of a business? Let me explain—and hopefully, my story will bring hope to others who feel they, too, have failed.
DreamCoachers began while I was working at a fine art bronze foundry. I realized that many artists remain “starving artists” simply because they lack the business acumen to turn their talent into a sustainable enterprise. Over time, I delved deeper into job search and career mentoring. Eventually, I expanded the concept into a full-fledged career coaching business for anyone seeking direction. Most recently, I added entrepreneurship and business coaching to the mix.
When I first started, I found the most success in teaching job search skills. I had built a network within the industry and began offering workshops. My first real gig was teaching at Utah’s Department of Workforce Services. I had built strong relationships with several people there and offered to teach a few classes. After teaching two sessions at three different offices, employees began encouraging me to apply for open positions. I ultimately worked for the state for over four years.
Eventually, I felt the urge to grow again and left my state job to refocus on DreamCoachers. Despite criticism from many, I set out to succeed on my own. I collaborated with community partners who gave me valuable opportunities to build my reputation. I was making a difference in my community. Unfortunately, the market turned out to be a dry well. I felt like I was failing—again.
Success!
Encouraged by my mentors, I applied for what was my fourth “perfect job” at the local university—and this time, I got it! With each previous rejection, I would tell myself, “That was the perfect job and exactly what I wanted to do with DreamCoachers.” Disappointment always followed, softened only by reassurances from friends and family that better things were coming. They were right. This job came with a much higher salary, opportunities to work with leaders at the state, local, and even national levels, and a chance to support legislation that brings better opportunities to rural communities in our state.
So, was my business a failure? Absolutely not. Through DreamCoachers, I secured two amazing job opportunities doing exactly what I love. Now, I have financial security and the means to continue pursuing my passion.
So if you find yourself stewing in failure juice, realize that you didn’t just fall in—you climbed up, exercised your resilience, grew as a person, and positioned yourself for future success. Savor the fact that you’ve grown—and keep going!
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As mentioned, this blog was originally written in 2018. Since then, I am still with this "dream job" and am helping people succeed. I have published my book "Nobility Road," and I am now in the process of starting my next business venture, Nobility IQ. I have also been able to turn a few hobbies into additional income as well as a community resource. Past failures have led me to be motivated to be better and keep on trying.
If you want help working through your failures to create success,
send me a message and we can talk. I offer a free one hour coaching session.
