My partnership with the developer for LGS Coaching Agency was very short lived and was not properly (legally) documented. The partnership was my first business partnership but definitely not my last. Through my handful of business partnerships, I learned a lot but I never did figure out how to make them work.
In this particular case…like I said, things went south very quickly. The guy was a coach and a developer but definitely possessed zero business acumen. He was also married but that didn’t stop him from making advances towards me. After realizing how much work was ahead of us and realizing he would get absolutely nowhere with me – he not only quit but told me I needed to pay him $40,000 for the work he had done so far. Because I didn’t have proper documentation in place to ensure he couldn’t screw me over like that – I got screwed over.
This is shortly after the failure of the New Year’s Resolution campaign and while no matter how many events I went to and how many hours I worked…I simply wasn’t getting clients for the coaches that had agreed to work for the Agency. I looked for a developer to pick up the pieces but that too was going to cost the kind of money I didn’t have. So far over $30,000 had already been invested into the Agency – a good bit of that money being money from my friend.
Looking back now on the situation besides seeing all the mistakes I made and the opportunities I missed…because of what I’ve been through in the last few years…I now have what it would have taken to keep things going, but back then, I simply didn’t so I closed the doors of LGS Coaching Agency.
My first dream was crushed and I faced my first encounter with failure. I had never actually failed before at something I had set my mind to accomplish. I also had to deal with my first experience of letting people down and not living up to my promises, vision and expectations. I shed some naivety about what it takes to build a business through that experience.
Don’t feel too bad for me…I recovered surprisingly quickly. In less than a week, I was dreaming up a new business – this time a web startup which ended up being called WhyGoSolo.
I dreamed up WhyGoSolo while having lunch in a Chipotle – the initial concept of WhyGoSolo and what it eventually became weren’t exactly the same but the basic idea was. It was an easy to use way to connect people online for offline one-on-one interaction (do activities together); strictly platonic with no strings attached. I was single at the time, not looking to date and becoming a heavy web user – this concept felt like the perfect answer to my needs and those of so many other people just like me. I definitely saw the web heading that way…where people would be willing to connect offline with their online network. Also, it was early 2007, it was an exciting and booming time for the web 2.0 and the web startup scene…although not necessarily in DC.
With WhyGoSolo…more partnership would be created, multiple learning curves would need to be conquered, more mistakes would be made, lots of ups and downs would be lived through and ultimately more failure would be experienced. In the next blog post I’ll tell those stories.