false 2009-02-16T10:09:35-08:00 <p>After experiencing the highs of starting a business and the lows of closing so many, I think my story can help others not make the same mistakes.&nbsp; During my tenure as a serial entrepreneur, I started and dissolved 5 businesses, borrowed and lost over $1.4 million and experienced many failures.&nbsp;</p><p>Like many entrepreneurs, I was attracted to the glamor of becoming a self-made millionaire, being my own boss and making a name for myself.&nbsp; In 2003, I decided to leave my six figure sales job to start my empire.&nbsp; After liquidating my 401k, using my condo as loan collateral and investing my entire savings account, including the piggy bank,&nbsp; I decided to start three businesses at the same time.&nbsp; Yes, you can snicker now because it was a really insane idea.</p><p>It took a year and half for me to realize that I was running out of money, lacked the right skills to run multiple businesses and needed some serious help.&nbsp; Unfortunately, I waited too long to assess my shortcomings and my denial cost me everything.&nbsp; They repossessed my cars, liquidated the businesses and started foreclosure proceedings on my home.&nbsp; What do you do when you lose everything and your dreams become nightmares?&nbsp; After feeling really down for a couple of months, I decided to shave, stop wearing the same sweat clothes everyday, save my home and start all over.&nbsp; I decided to ask the wise people of the village to help me build a better mousetrap.</p><p>After consulting with several of the village people, they told me the three things that I needed to do if I wanted to ever succeed in business.&nbsp; First, I had to put my tail between my legs and go back to Corporate America to learn how successful companies operate within my field.&nbsp; Second, I needed to be more humble and seek knowledge from a multitude of savvy entrepreneurs within and outside of my industry.&nbsp; Last, I should focus on one business success at a time before I move onto the next conquest.</p><p>In 2007, I was terminated from my job and faced with one of the scariest decisions of my life.&nbsp; With much less money than before ($20,000), I decided to take a huge risk and start another business with my newfound corporate training and fragile ego.&nbsp; This time around,&nbsp; I am solely focusing on one business, leveraging the experience of my mentors, working with small business development centers and listening very closely to the needs of my customers.&nbsp;</p><p>The morale of the story is when humility and experience are teaching; make sure you don&#39;t miss their class.</p> bSjyQTtAqqllvkab8P4pmk false true true 2009-06-07T21:47:36-07:00 0 true 0 false false false 1 Sometimes Failure Can Be Your Best Teacher 2009-06-07T21:47:36-07:00 apEm3yttuqllvkab8P4pmk ChefEricPaul 1431 0 dY1Ghod6ZhRBWr3AL8abBw