Richard Buehling

Reason for classification as a failure:

I feel as though the business was shut down prematurely and had more potential. Moreover, it was shut down due to non-business reasons. I feel that I quit on it.

Business lessons learned:

I learned to focus on refining the platform based on user feedback, and to not make assumptions about what users want. Refinement of a product should be data and feedback driven. Look at the usage, what features are being utilized the most, what users are saying.

Tracking, documenting, and analyzing user activity especially in a B2C based business is HUGE. It is all about funnels. Identify bottlenecks, test solutions, and analyze changes. I would just make random changes to funnels and features with no evidence. You should be systemized and organized.

Don't be impatient! Sales is a game of trust. I got hyper-focused on the initial user ingestion and cold conversions. So much money was left on the table because we had no resources, content, email retargeting etc.

Personal lessons learned:

Don't tie your business to your identity. Welcome criticism with open arms and don't take an attack on your business personally.

Don't give up. There was promise with the application yet it was shut down early. Businesses take years to grow and you need to stay unfalteringly focused on a singular goal.

Reason for classification as a failure:

Although, yes, I had a successful high school career, I feel as if an UNEARNED ego developed around my relationship with track and field. Fundamentally, I had 3 D1 "offers" which were mainly roster spots - no scholarships. Subconsciously, I knew this - yet I loved the attention and playing the part of some nationally ranked quarterback.

This dichotomy typically presents itself as insecurity, a need for constant validation because of a lie you know deep down to be true. So the failure is not in college athletics per se, it's more so of lying to myself. I believe if I were more honest with myself, I would've been able to focus my time optimally and make better decisions.

A clear example of this is I had interest from T10 academically ranked D3 universities - yet I chose a lower ranked university because I wanted to be D1. Now I don't necessarily regret it and there are arguments on both sides there - but the problem is I DID NOT even sit down and think about it. I let my insecurity pull me into making a life decision without even thinking.

Personal lessons learned:

I learned to not identify or tie your self worth to something that you are artificially inflating. I was in love with the idea of being a division 1 athlete, yet not necessarily living the life of someone whose sole purpose it is to jump further.

There are people whose life's mission it is to be a killer athlete, when you inflate your image around them, they will eat your lunch. This was a hard pill to swallow, but I had to come to terms with the fact that I, by my own doing, did not have a good college career.

Insecurity spreads like disease, any insecurity must be snuffed out - or it will breed into other aspects of your life. Be honest with yourself - if you suck at something - it's ok you suck, make a decision on if you want to be better. If someone is better than you, that's ok - good even, make a decision on if you want to play ball.

Reason for classification as a failure:

This one is a bit more straightforward - I lost money. I built a business on shaky, and emotionally driven principles - it was bound to fail.

Business lessons learned:

Tracking finances. You need to do it. It's granular, boring, and time consuming but you have to do it. In practice I felt like I was wheeling and dealing - but on paper I was blowing money.

Personal lessons learned:

Similar to college athletics, in high school I wanted to be seen as a famous music producer - and I overlooked the core business model. When you hedge fame and perception against cash in vs cash out - you tend to make poor financial decisions.

I learned that, in order to grow a successful business, you HAVE to put ego aside. You have to be in it to win, cash flow, cash flow cash flow. Money in, money out. The moment you let perception, fame, etc. cloud your judgment, you run the risk of shaking the foundations of the business.