It all ends somewhere

I am broke alone and have nothing to show for it. I am 24 with no degree and my first business is about to go under no money to pay off bills owed. no money to pay the remainder of my lease. I feel alone, depressed, wondering why i even started this journey in the first place, I’ve lost everything from my apartment to my savings, my car is about to get repossessed and i have no clue what to do. Its hard to even pull myself out of bed, hell I cant even sleep anymore. I keep feeling that everyone was right when they said I was not ready for this.

Overall I feel as if I am a failure. Has anyone been in this situation before? If so any advice would be greatly apreachated.

  • I personally have been there, and felt the same way.

    I often said to myself that when you reach bottom the only way is up.

    Now I am using all the lessons I learned and started again. Maybe this time I’ll succeed.

    To tell you the truth I only started again because I don’t like others to think I’m a failure by giving up. I don’t want to give them that satisfaction. this time I’m a little wiser and more cautious.

    There have been many who failed the first time but with perseverance they where able to succeed.

    Don’t give up. Pull yourself together. find a job and use the time you have to think about your next steps.

  • Hey,

    This is the side of startups that most fall into and the media rarely covers. Don’t give up on your startup ambitions. With that being said you need to get a temporary job to bring in some dough to put you on a neutral money position so that you can get that monkey off your back. You are serious about having your own business so working 20-40 hours a week to bring in some cash then working additional hours on your startup shouldn’t be an issue – just a nuisance but at least you’ll not be in debt.

    Best of luck

  • I’m 27 and same as the OP. 90% of the startups fall under this category.. Try to learn what went wrong and have this mindset: There are no failures, only learning experiences.

  • I am there, but not worried. You fail, what defines you is what you do next.

    Take what you learned from this and keep moving forward. What really pisses me off is that they don’t talk about this enough and that these startup accelerators and incubators are actually equipped to help people willing to sacrifice everything because they want success stories of people to define their success. When people aren’t in that inside circle, it’s easy to fail and think you did something wrong. You did nothing wrong. You experimented and learned. Your next one will be greater. Crash with friends for 3 months, get a job, get a super cheap apartment, and blog about something that makes you happy. You will find your next business within the next 9 months. Until then, save and keep living.

  • Failure is an end result – so you only fail once you stop trying. It sounds like you’ve already been through the worst. For now, just take a pause, get a job and get your life back on track.

    Take a business detox for 6 months. After that time when you get the urge to start a business, be ultra cautious and don’t risk everything. As someone else suggested, run your startup in your spare time at least until it’s big enough to support you salary.

    Keep going.

  • I can absolutely relate to your situation, had a business that didn’t work out and wrapped up at the end of last year. It’s been a rather emotional experience all round, lost a good friend and business partner in the process. Burned through my savings and felt like a complete failure in life, very sobering completely running out of money. Got a job & it’s given me a bit of breathing room to emotionally digest how it all played out. I’m already thinking about new ideas to persue which I didn’t think would be the case when things went South so keep your chin up it will get better! By the way, I’m pretty sure I’m anonymous making this post however it’s still painful even writing this so I can only imagine there are a lot of people who are in the same boat but wouldnt feel comfortable advertising their failures. So to sum up, you’re not alone, this could even be a part of the learning process & things will get better. Hope that helps mate & if you’re really starting to feel down I suggest you start running or doing something cardio intensive, has the ability to pull you out of any mood no matter how shitty, the worse you feel the harder you push 😉

  • OP, i’ve been where you are, gone thru bankrupcy, the selfdoubt, the selfloathing, the depression, suicidal thoughts, the works. I’m now seeing a shrink and am in a support group to deal with all the emotional stress and self destructive thoughts.

    Funny thing is, I still can’t wait to start a new business, I’m already working on my new business concept. My energy is coming back and can now honestly look back at my bankruptcy as the biggest learning experience in my life. Mind you i have a university degree in SME business practices but still I’ve learned more from failing than any book could ever teach me. Hang in there, if it doesnt kill you it WILL make you stronger! Digest, grief, reflect and overcome.

    You’ll come back swinging eventually, no doubt.

  • … [Trackback]

    […] There you will find 627 more Information to that Topic: […]

  • {"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

    You may also like