Unemployed: The Story of EntrepreLoser

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Hey, my name is Mike and I’m an EntrepreLoser…let me explain. After graduating from college, I started an internet company. Starting and running a successful company had always been a dream of mine since I was in high school, so as you can imagine, I was pretty psyched when I made the decision to dive into the entrepreneur world as a Founder and CEO. I had a great idea and the work ethic necessary to be great, however, there were a couple of things that I lacked…a plan and experience. Ironically, I didn’t know it at the time, but those are two of the most important things every startup needs. A business is NOTHING without a business plan (especially a financial plan) and having business-running experience is an priceless asset. Even though I was unprepared for what I was about to experience, optimistically, I continued to pursue my dream of owning and running a company. I poured my heart and soul into my business. I built the website, developed the online service, created the social media pages, and executed all the marketing tactics myself. I didn’t seek help from anyone; I wanted to learn everything and do everything on my own. It was great at first; I had business cards made; I started networking at social events; I was almost certain that my business was the next big thing. My company started gaining momentum; Facebook likes and Twitter post retweets started rolling in. I started building working relationships with industry leaders and other businesses were starting to take notice of the progress I was making. A few people even reached out to me asking if the company was hiring (which made me feel awesome). I was also planning a promotional event that would introduce my company to the world. The business life was pretty swell. However, after about a year, I hit the proverbial wall; I soon realized just how hard it is to run a business, especially alone. Things weren’t going my way anymore. Eventually I began feeling overwhelmed with duties and responsibilities. I became impatient and frustrated with the length of time it was taking for my business to become popular. The euphoria of being a CEO had worn off and my optimism started to turn into pessimism. After two years, reality hit me with a baseball bat; my business was no where near a success. Due to poor planning and execution, I was running an unprofitable company with a flawed business model, and to make matters even worse, I was in debt. After months of contemplation, I decided that it was time to call it quits. I dissolved the business.

 

Why You Should Listen To Me

Giving up on my business was one of the hardest decisions I ever had to make. It was almost like that business was my child and I was deserting it. I was heart broken and miserable for months. I felt lost and confused; “What am I going to do now?” was the question I kept asking myself. The thought of having to get a regular “nine-to-five” was so depressing. I’m just not cut out for it. Entrepreneurship is in my blood. After month’s of soul searching (and sulking), I finally had an idea. It was almost like an epiphany. During the process of failing as a small business owner, I became an expert at something…I now knew what NOT to do when starting and running a business. I had made so many mistakes over the past two years, mistakes that could have easily been avoided if someone had warned me about what NOT to do. That’s why I decided to start this blog. I’m your warning. The average entrepreneurship publication or blog gives vague, generalized, unspecific advice, that isn’t tailored for anyone, especially young entrepreneurs. As a fellow young entrepreneur, I know what kind of advice you need. I know what you’re going through and I know the obstacles standing in your way. However, I also know how to get around them. I know the resources you need. Many successful people tell us to stop making excuses for why we can’t do certain things. Well, many times, our “excuses” aren’t excuses, they’re real problems. Finding funding for your startup is a real problem. Finding a co-founder is a real problem. Struggling to create a financial plan; getting denied a bank loan; not knowing how to effectively use social media; lack of experience; these are real problems. That’s why I created this blog. I don’t want young entrepreneurs to make the same mistakes I made. Not only am I going to give you practical and detailed advice on what NOT to do when starting and running a business, I’m going to give you links to resources to help you build a successful business; resources that you have probably never even heard of. I also won’t waste your time with ridiculously long articles filled with fluff; This will probably be one of my longest articles (since I’m introducing myself to you). I’ll get straight to the point. Young readers have short attention spans and don’t like to read long articles, therefore, I will try to be concise and keep my articles under 1000 words. In conclusion, I hope you enjoy my blog; I hope you follow my advice and take heed to my warnings. I’m an EntrepreLoser; I lost at the game of starting and running a successful business, but my loss is your gain. Because of what I went through, you don’t have to make the same mistakes I made. You don’t have to be an EntrepreLoser. Good Luck!

-Mike, creator of EntrepreLoser

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About Mike

Hey, I'm Mike. I started the blog EntrepreLoser to give advice to young entrepreneurs who have a great idea and don't know where to start. I ran a company for two years, and even though it failed, I learned valuable lessons that will help any young entrepreneur successfully start and run a business. Why should you listen to me? Because I know what NOT to do when starting and running a business. I made so many mistakes as a small business owner and I don't want other young entrepreneurs to made the same mistakes I made. Many people give advice on what you should do when starting a business, but few (if any) explain what NOT to do, and that's what this blog is about. Enjoy!
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6 Responses to Unemployed: The Story of EntrepreLoser

  1. Pingback: How To Conduct Market Research and Why It’s Crucial To The Success of Your Business | EntrepreLoser

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  3. Mike Gowans says:

    What was it that really made you want to be an entrepreneur? What’s your ultimate passion in life if money and time weren’t an object? I’d love to toss ideas back and fourth with you sometime.

    • Allen Screen says:

      Hi! Well…I wanted to be an entrepreneur because I liked the idea of starting a business, cultivating it, and watching it grow into a successful, profitable business that everyone could enjoy and be a part of. So, I guess you can say that business development is my passion, or at least one of them. I’m also passionate about writing, web design/development and organizing athletic events. If money and time weren’t an object, I still would love to own a business and create products that everyone fell in love with

  4. kyawtunsein says:

    Great thoughts and insights! You will surely win someday. I know you are never gonna give up. =)

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