I sure screwed up royally with a company I founded. My partner from college and I started a high tech company where our principal product was software designed to monitor the number of people who visited a website on the internet. Having no prior business experience and being under-funded, our business failed despite our best efforts to keep it afloat. We simply made no money because we lacked business experience, had no clue on how to find competent advisors, and did not have a good marketing and sales team.
At the time, we had one major rival in our market segment and they dominated the market. Although they had a great software product, we felt that ours was technically superior to theirs in terms of features. Still, our business failed miserably.
Six short years after my company failed, each of the founders of the other software company each had a financial net worth of over one hundred million dollars based upon the valuation of the company. This blew me away since I was a founder of my company along with my partner. For a moment, I contemplated what might have been. That's a great way to feel regret, something I didn't want to so I immediately derailed that train of thought.
Do I feel like I failed at the company? No. Do I feel like I lost out on a hundred million dollars? No. Did I kick myself and beat myself up over this? Not a chance. Admittedly, I was frustrated yet that quickly passed. Following the frustration period, I asked myself what I learned. The lessons I took away from the experience were priceless. And those lessons help me today in my current businesses.
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