Tag Archives: lessons

Business Mistakes Learned the Hard Way: 5 Entrepreneurs Share their Story

Where are you in your entrepreneurial pursuits? Idea stage? Development stage? Growth Stage? Whatever stage that may be, there is excitement and uncertainty. Many of us know to seek out mentors, business coaches, and peers about their experiences and insights. For good reason too: learn from them. Listen to their advice. Take their words of wisdom and apply it to your own situation. Yet, regardless of where we are in the process, we will encounter obstacles and problems. We KNOW we will make mistakes; we KNOW there will be failure, but we fight to minimize the depth of failure. However, there are situations that pop up without warning or they creep up on us to create havoc. These 5 entrepreneurs share their story and lessons learned:

Jennifer Tamborski, Virtual Admin Experts: “Hiring people and being a leader is entirely different from the corporate world. I hired employees and set them loose, assuming they knew what I knew. When they came back to me confused and lost, I realized I didn’t have the processes necessary for my employees to effectively perform their job. It’s a process I had to learn as I taught them.”

Lesson learned: a clear, concise, communication and documentation plan must be established. Follow-up with employees is just as important as follow-up with clients.

Chris MacLellan, Whole Care Network: “My theological background inspired me to trust without hesitation. That approach to life did not transfer well to business. I didn’t discover this until I handed over the IP (intellectual property) to a business connection in which the gesture was not reciprocated. As a result, I lost lots of money and my humility. It took a great deal of time to restructure my business, much of which conflicted with my trusting nature.”

Lesson learned: Life skills do not always transfer well to business skills.

Mary Scott, Make Believe TV: “Create a clear, contractual arrangement for each project which includes payment agreements and pricing for situations that influence the service offered. All decisions must be clear and understood before the project (or any part of the business arrangement) begins. If it isn’t clear, it will cost a lot of time, money, and frustration.

Lesson learned: Do not rush into a project without the proper documentation.

Angie Monko, Harmony Harbor Coaching: “I jumped into business without a clear plan, quickly becoming distracted by multiple business objectives. I didn’t recognize the situation until ~18 months later when cash flow and momentum declined. It took another 18 months to create a business plan and to begin recovery.”

Lesson learned: Create a business plan, follow it, and revise as your business shifts and grows.

Paul Heirendt, True Bearing Advisors: During my corporate days, I had ‘two young guys’ working with me. They frequently joked, ‘You’re not the boss of me’, which resulted in them learning very little and becoming a liability rather than an asset. I eventually left the corporate world and took one of these young guys with me. As his urging, we moved into his uncle’s free office space in downtown St. Louis. The caveat: the uncle’s son must become the CEO of my company. With no written partnership and nearly 100% of the company in my name, I dealt with legal issues, lost opportunities, lost revenue, and lots of bad blood.”

Lesson learned: It’s better off not partnering unless each member can prove their value AND share the same business goals.

These entrepreneurs faced some crushing blows to their business growth but regrouped, adjusted and recovered. Communication and documentation were the top business issues. How can you apply their lessons? Share your ideas or stories below.

Kristen Edens

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"The Lord of host hath sworn, saying ,surely as I have thought , so shall it come to pass; and as I have purposed so shall it stand."



1.Is your level of persuasion, your faith in "the word of God" , that will give birth to his promise in your life . Bible says in scripture, Abraham was fully persuaded about God. Roms 4:21 " And being fully persuaded that, what he had promised, he was able also to perform." What gives birth to the promise (your expectations) , is your level of persuasion ; it goes beyond just believing . Are you fully persuaded? It 's an inner conviction in your spirit.

2. Believing that God's word will come to pass; to tell you the truth friend, is up to you, not God . why? scripture says in Hebrew 4:2 " For unto us was the gospel preached, as well as unto them: but the word preached did not profit them, not being mixed with faith in them that heard it." why didn't the word profit them , it wasn't mixed with faith. so no faith , no result! The Key is this – you need to exercise your faith in God's word everyday , so it will grow."As newborn babes, desire the sincere milk of the word, that ye may grow thereby:" 1 peter 2:2. Once the harvest is ripe , it will manifest.

3.The word of God is not "instant fix" believe it now and get your miracle now. lol. Is a  process , that comes in stages .The book of Isaiah 28:10 confirms this " For precept must be upon precept, precept upon precept; line upon line, line upon line; here a little, and there a little:" Is a slow process though ; but I must confess to you the end result "wow" is "sweet". The key is as long as you stay on the word , you are growing , you might not see the changes at first from the outside , but on the inside it is working. scripture puts it this way in the book of 2 cor 4:16 "For which cause we faint not; but though our outward man perish, yet the inward man is renewed day by day."

4.In the kingdom ,we start always from the end back to the beginning; we believe the end first ,then the process we believe begins ,scripture says it like this in the book of Jeremiah 1:11-12" Moreover the word of the Lord came to me, saying, “Jeremiah, what do you see? And I said, “I see a branch of an almond tree.” Then the Lord said to me, “You have seen well, for I am ready to perform My word.” The key is this , once you can see it , the journey to your expected end begins.

5. Every word of God received , must be activated with joy for it to work for you . Isaiah 12:3 (NIV)"With joy you will draw water from the wells of salvation."

6. When I know God is sovereign  that is where I get my strength from . you just have to  trust and let him do it . Isaiah 48:11(NIV)"For my own sake, for my own sake, I do this. How can I let myself be defamed? I will not yield my glory to another."

7.When God says a thing , is because he already knows what you don't even have an inkling about yet. Jer 33:3(NIV)"Call to me and I will answer you and tell you great and unsearchable things you do not know.'"

8. Even the evil in your future , God has already worked it into his plan for your life .Jer 29:11(Msg)" This is God’s Word on the subject: “As soon as Babylon’s seventy years are up and not a day before, I’ll show up and take care of you as I promised and bring you back home. I know what I’m doing. I have it all planned out—plans to take care of you, not abandon you, plans to give you the future you hope for."

9. God's word is God .No difference. So it will do you alot of good to just believe . period! .John 1:1(NLT)"In the beginning the Word already existed. The Word was with God, and the Word was God."

10.Finally, When you appreciate the Master , you thank Him ,love him. bow before him , worship him with joy flowing from your heart .(lol ) hmm, why won't he bring his promise to pass in your life .why? Psalm 50:23 (Amp version) confirms this " He who brings an offering of praise and thanksgiving honors and glorifies Me; and he who orders his way aright [who prepares the way that I may show him], to him I will demonstrate the salvation of God.". How do you prepare the way for your miracle , deliverance , breakthrough to happen? when you offer to him quality praise with thanksgiving. Amen.. Give him praise !!

Personal Quote:

" God lives in the past . present and future and you can only connect to him by FAITH"

PRAYER: Father give me the grace not to doubt you anymore in Jesus name , Amen..you re blessed! 

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