Why My First Business Failed (& How to Learn From My Mistakes).

I was very na?ve when I first entered into entrepreneurship. As an idealistic, yet strategic person with an insane work ethic, I thought everything would work out just fine if I:

• Was well-educated in my field,
• Was well-intentioned in my service offering, and
• Worked really, really hard.

But, as I'm sure you've guessed by now, that business failed.

I'm currently running my fourth company, which is doing very well. My third company also did well (I dissolved it in early 2023 so I could focus on Prospology full-time). My second could have become something big, if I wanted it to be (I didn't). But the first... was the probably biggest learning experience I've ever had.

I've decided to boil these learnings down into the 2 biggest lessons so that you, too can learn from my mistakes. After all, if you really value freedom as much as you say you do, your business has to not only support your lifestyle but also support itself.

So, buckle up and get your notebook out! ??

Lesson #1—Value before popularity.

Earlier, I spoke of my na?vety when entering into entrepreneurship for the first time. I'm going to zoom in on that to explain what was going on in my head and business at the time, in detail. Hindsight is 20:20, of course, but you only get that when you've fully come out on the other side (unless you're lucky enough to be coached by yours truly ????♀?).

By far the biggest mistake I made back then was assuming that if I took all the "right steps" and worked hard, I would reap the rewards. I had no real understanding of what it actually meant to run a business, as I'd never done it before or studied it; all I knew was that there were people doing it all the time who made it look so easy. I was smart, capable, young... Why couldn't that be me? *Face palm...*

From March, 2016 to November, 2018, I was doing all the things I thought I should do to ensure my business launch was a success:

• Research legal and tax stuff
• Registering my company name
• Working with a lawyer to make contracts
• Creating a logo
• Designing business cards
• Building a website
• Making client paperwork
• Networking with other entrepreneurs
• Posting on social media
• Writing and publishing articles
• Distributing printed articles in person

You name it—I was doing it! ????

If "hustle" wasn't already a word, I would have coined that word.

On an almost daily basis, I was working late in my boyfriend's office (it's okay—his bosses let me), telling myself that tomorrow was a new day and the results were coming.

But aside from selling 1x 6-month program at $1,200, that was pretty much the full extent of what my first business accomplished—it was never profitable.

The main reason? There wasn't a market for what I was selling.

Despite all the hours I was putting in to make everything look and sound great, no-one wanted it. It was that simple.

I'll spare you of all of the details, but the short version is that nutritional therapy wasn't a thing in Canada (it still isn't). Functional medicine was slowly emerging at that time, but the general public didn't know what it was. I thought I could educate them on it because it was such a no-brainer to me, but it just didn't translate. Canadians were only interested in things their private or national insurance could pay for—they had no intention of paying out-of-pocket when they didn't have to.

The result? 2 years and 8 months of sustained effort went down the toilet.

In stark contrast, within just a month or two of launching Prospology, I was already giving value to those who needed it. I offered free careers coaching services to a selection of people in my network who I knew would benefit, in exchange for ~2 minute testimonial videos for my website and YouTube channel. I spent no more than a day deciding what I was going to offer, and no more than 1-2 days preparing to do so. Within a week or two, all of the spots were filled. Within a month of promoting the offer, I had all of the testimonials I needed. But, more importantly, I knew there was a market for my services that I could leverage.

The moral of the story: never waste time building a business that nobody wants. Unless there's a proven model for the type of company you run that shouldn't be messed with, start with a proof-of-concept offer right away so you can fail fast. I called this lesson "value before popularity" because you can always reinvest to grow your business' brand later on, but if you never actually generate a profit, you'll always be stuck at the starting line.

Lesson #2—Let your mojo guide you.

I chose to offer nutritional consulting in my first company because that's what made sense and what I'd been trained in. After 5 years of undergraduate studies in Nutrition & Dietetics, including 4 work placements, and an additional 2 years commuting to London for a Nutritional Therapy Diploma, it was all I knew.

But, looking back, that was a huge mistake.

I want to be clear—there's nothing inherently wrong with leveraging a strong education in your career. The problem is that, so often, we start out really enjoying the subject matter and everything the career path represents, then later realize... it kinda sucks. But, instead of pivoting into something totally unfamiliar that we're unskilled in (which is terrifying and mega risky), we tell ourselves we're "supposed to" pursue the path we originally chose and that that's our only option now.

I played these mind games with myself throughout that entire period of time, from March 2016 to November 2018, at which point I finally admitted to myself that I was totally misaligned with my passions and interests. Once I'd done that, it was pretty easy to pivot (though, don't get me wrong, it was 100% a "rock bottom" moment!). But, until I got out of my own way, it was a hard slog.

The reason it took me so long to get on the same page with myself wasn't just because of the fear of failure in a field I was unskilled and uneducated in (as was my opinion at the time); it was also because of the na?vety I had about business. I thought that anyone could sell anything so long as they were good at sales, networking, and marketing. And that is true, to a certain extent. But, man, was that a warped view of reality.

To illustrate, let's revisit that first (and only) $1,200 client I had back in 2017. Did I sell the package successfully? Yes. Did I bend over backwards trying to deliver value to the client? You bet. Did said client actually find it valuable? Not really.

What was missing was my mojo: that magical energy that drives all of an entrepreneurs' activity when they're super aligned and excited about the work they do. I simply didn't have it, and it's because of what I shared earlier: nutrition didn't light me up anymore. What had once been intriguing and intellectually challenging was now competing with my values and boring me to death. The idea of watching countless videos or reading a bunch of scientific papers to figure out why my client's test results were as they were filled me with dread. I left it to the last minute to do anything for/with them, and I was constantly drained. It's honestly no wonder they didn't have great things to say at the end of the program. I was just relieved it was finally over, telling myself things would get better soon.

Not only that: the stress was playing an enormous role in my energy levels, sleep, and general health. I had to wear so much makeup to even leave the house, and it still couldn't cover up my terrible skin. I gained a lot of weight and could no longer fit into my favourite clothes. I had no time or energy to exercise, and didn't want to eat healthily or make health a priority because of how bad I felt about myself and the situation I was in.

I strongly believe that there is not one single entrepreneur that is successful, happy, and fulfilled who sells and delivers a product or service they don't love who will ever reach their full potential as a person or professional. I see this as clear as day now, but it was a major blind spot back then.

It wasn't until I gave myself permission to pursue something totally different, career-wise, that made me feel like the best version of myself, that I was actually able to embody that person.

Fast forwarding to how I operate my current business and it's like night and day in how I look and feel:

• I no longer feel the need to wear makeup, most days.
• I make time for regular exercise and social activities.
• I have a very relaxed sleep schedule, and only work when I want to.
• I look forward to every single day in my business and dread nothing.
• Every day is a new adventure that I get to embark on, at will.

All of this to say: you must love what you are doing with every inch of your being before investing any resources (time, money, energy) into a small business. If it doesn't make you feel excited, invigorated, and ready to do all the things, it's not a good fit and I recommend going back to the drawing board until you find something that is. Life is too short to play games with yourself and others.

Not sure if your current business model or service offering is right for you? Reach out ([email protected]) to discuss customized 1:1 coaching options.