Chapter 1: My Business Journey

Not long ago, about six weeks back, I was excited about the idea of launching a new venture on my campus. "What could possibly go wrong?" I thought to myself. After having successfully initiated a business with a few friends, I figured it would be wise to have a backup plan in case my primary venture encountered obstacles.

My primary business involved offering classroom decoration services for a fee—$40 for a simple refresh and $60 for a complete transformation. It seemed like a reasonable start!

Plan B, which I had only shared with a select few, was a snack and beverage business that I intended to build from scratch. I was thrilled about the potential of this venture and eager to start generating income.

At the time, I was just beginning my writing career and had not made significant progress, so I decided to pause and think critically about how to enhance this business idea. I was making good strides until disaster struck.

One day, I entered class, and the instructor announced, "Regarding the marketplace, I’m really tired of the multitude of snack and drink businesses. We need a change, folks." This statement hit hard, and I immediately understood its implications.

First, my stylish snack business idea was no longer viable. Secondly, it was clear that the marketplace was saturated with similar ventures. With two food and beverage companies already operating in my area, I could only imagine how many others were in the remaining sections of the campus.

I felt perplexed, but then I recalled a lesson I had learned previously: there is always a workaround in business. If one approach fails, there’s usually a better alternative that could be explored.

So, what did I take away from this experience? I learned the importance of conducting thorough market research and staying informed about existing businesses, as you never know what challenges you might face.

Have you found yourself in a similar situation? I’d love to hear your thoughts in the comments below!

If you enjoyed this piece, you might appreciate this one too! Resilience in the face of challenges is what defines a true winner!

Chapter 2: Lessons Learned

In this insightful video, "The REAL reason your business is NOT working!", the presenter delves into common mistakes entrepreneurs make and how to avoid them.

The second video titled "Why Do NEW Businesses FAIL? #1 Reason Why Starting Your Own Business May NOT Be a Good Idea!" explores critical factors that lead to the downfall of new ventures, providing valuable lessons for aspiring entrepreneurs.