Donna Genie (a CPA) recounts a personal story about a major entrepreneurial failure: she and her CPA husband invested in a franchise intended to be run by others while they focused on other endeavors. They expected training from the franchisor but later faced problems; the story illustrates how failure can become a learning opportunity and motivator.
When was the last time you failed so hard that you weren't sure if you were going to recover? Well, if you're an entrepreneur, you've had these moments, I guarantee it. I'm a cpa and so is my husband, and we've had this moment. So I know it is a common thing. So I want to share with you a little story about how failure can become a really big learning opportunity and motivate you and help you throughout the rest of your life. Many, many moons ago, my husband and I decided that we wanted to own a business. I was running a CPA firm as mostly a tax accountant. A little bookkeeping on the side at the time. Well, we decided we were going to look at franchise business because we wanted something that we could run while we had other endeavors going on. So we found a franchise and invested in it. And it was supposed to have training to teach us how to do everything we needed to know. It was a business that we couldn't be involved in because we weren't skilled to have the knowledge and availability to do the services that that business provided. And we were okay with that. We did not want to get stuck working in the business. We wanted to work on the business and build an empire.
