I haven’t written a blog post in a couple of weeks… life juggling a 1 year old, 2 jobs, and closing down a side business I had started were getting to me. Not to mention my sporadic vlogs and other random videos I post on my YouTube channel… let’s just say I have been feeling incredibly burnt out. One of my (multiple) side hustles included a small business reselling new and preowned goods on sites such as eBay, Poshmark, Whatnot, etc. I’ve been selling on third-party platforms for over a decade now, and had decided over a year ago to formally make it into a small business. The first 6 months went well – I was sourcing product, turning over inventory, all in all doing a decent pace on things. The last 6 months though, let’s just say the business (and sales) started fading away – and I was the one fully at fault. I started juggling too many things in my life, ran out of time, and just didn’t have the drive to keep it going anymore.
In the past few weeks, I’ve done a lot of inward thinking, meditating, and just spending time figuring out what I want out of life next. Ultimately, I keep telling myself that having to close my failing side business taught me some valuable life lessons. Here’s to hoping these help you find some of those lessons in what may feel like a grieving period over what “could have been”.
1. Taught Me That Failure Is NOT a Bad Thing.
I think we oftentimes find ourselves in this mindset where we think failure = a reflection on us and our moral character. Don’t get me wrong – failure is a bitter pill to swallow, but I’ve realized that it’s also life’s best teacher. I could probably write a whole other blog post about the nitty gritty of what I’ve learned to do better (from inventory and financial tracking, to KPI tracking, and all those business metrics) – but I feel like I have so much more knowledge for when I am ready to move into my next business venture. Just because one business failed, doesn’t mean YOU are a failure. It’s just life’s curriculum 🙂
2. Gave “Freedom” a New Meaning.
If you’ve been around the blog (or my vlog), then you probably know I work a full-time 9-5, but I’m also a personal trainer. I’m also a mom to a very active one year old, a wife, dog mom, and all of those other roles that we find ourselves in. I had launched my small business when I was on a very lengthy maternity leave – when I went back to work full-time, my small online resale business fell to the wayside. Closing my small business, although painful (having to admit failure), felt incredibly freeing. It was like the clouds had lifted – all of a sudden I felt like I no longer had to stress about finding time to invest into what I had started. Before, I was looking to fill every minute of the day with things people would deem “being productive”. Now, slowing down, living in the moment, setting aside more time for my family are more important. “Freedom” to me now means the time to just exist and be.
3. Spurred Creativity (Which I’ve Been Lacking).
Hustle culture. In my 20’s, that felt like THE thing to do – hustle, grind, boss babe, you name it – it was all about being in that daily grind to make money. However, that doesn’t leave much room for creativity. After closing my side business, it’s freed up that brain space for me to just spend time daydreaming. What kind of business do I see myself starting in the future? What do I want to share and write about on my blog? Where do I want to take my YouTube channel/my vlogs? These are all questions I feel like I have the brain space to invest in, now that I’m not stressing about juggling too many things.
4. Business Goals Need to Align With My Own Personal Goals.
I spent some time really thinking about this one, especially because people keep asking me: how can I handle working a full-time 9-5, being a new mom, AND working as a personal trainer on the weekends? (Although, having the privilege of involved parents/a spouse with an opposite schedule does help on the childcare side of things). If you don’t know, I’ve been a coach at Orangetheory for a couple of years now – and am still going strong. But WHY am I still so motivated to juggle that level of work?
I realized – it’s because fitness and staying active line up with my personal goals and values. Yes, I have my “big girl job” that pays the bills and puts my professional education to good use, but being a personal trainer is something I personally identify with. Would I have stuck with my small business if I had identified with it’s purpose more closely? Probably.
5. Helped Me Understand What’s Truly Important in My Life.
My new little family, being happy and present in the moment, getting the most out of my life NOW is what feels most important to me. Instead of living so much in the future, this entire process has helped me retrain my brain. I’m finding joy in being where I’m at, instead of where I dream I could be. Anything extra I bring in to my life, has to align with my own personal values and goals in order to be successful. Ultimately, I’ve learned that slowing down is okay.
I hope that my personal reflections on my failed business venture help spur some reflective thinking in your own life – what have you taken away from failed business ventures? Let me know in the comments!
