Everybody says that your first business WILL fail. Well, mine is closing up shop as I write this.
It was the end of 2024. I have just informed my then boss that I will be leaving his company to pursue my own interests, then I travelled to Thailand to celebrate the year’s passing.
During my end-of-the-year vacation, a cunning thought appeared in my head.
See, my former boss, like many other business owners, was an entrepreneur through and through. He built his company from scratch as a solo owner, came up with his own inventive method for the problem he was trying to solve, traversed through trials and tribulations, and continued so for the past 10 years.
During my tenure at his company, he always told me that I have to “think like an entrepreneur”, which proved helpful as I was basically the unofficial Head of Operations (my role was titled “Head of Learning and Development”). I had to pick up on things that most employees of Small & Medium Enterprises (SMEs) seemingly pick up as well, such as:
- designing the client’s journey with us
- developing new processes and products
- optimizing internal operations for efficiency
- expanding our resources and improving resource management
I was doing all of this while working IN the business, running the main products that we sell.
Suffice to say, even though I was absorbing information like a sponge, I was limited to what my boss was comfortable with.
Ironically, the “think like an entrepreneur” line really hit the nail in its head, and I eventually started having business ideas of my own. When I shared with him of my plans to leave, he was understandably disappointed, but nevertheless gave me his blessings.
Once I left the company, I started to look to Youtube and blogs to get an idea of how I should start, and someone shared the possibility of taking over someone’s business.
So there I was, in Thailand, scrolling through businesses that are listed for take-over. I was looking for something affordable to break into, and honestly, part of me was yearning for a challenge to try something I have never ever done (quite reckless, I know).
A bubble tea shop was listed at a price that I am comfortable with, and I connected with the owner.
From then on, it was a rollercoaster of owning my first business. Customers rave, customers complain. Landlords leave me alone, landlords charge me for fees that are supposedly handled by them. Some things I learn early (thankfully), and some things I learn a little too late.
Eventually, after deliberating for an extended period of time, I have decided to close up shop. The decision was a tough one, but it was one filled with an exciting hope for the future.
This blog serves to document my journey while I navigate through the different stories, knowledge, and choices I have and will continue to make as a business owner and entrepreneur.
To the like-minded business owners, entrepreneurs, and aspiring explorers, I hope that my stories can keep you going on your entrepreneurial journey.And to those who have had a similar journey where we have failed our first or even multiple businesses, this is where you can find comfort in the knowledge that you are not alone, and that you have a community of business owners like myself building My Second Business.