Article5 Lessons Learned From My First Failed Business

5 Lessons Learned From My First Failed Business

After graduating college I was working as a social worker running a foster care program for children with developmental disabilities when I found an ad online for someone selling a business — Amigos Spanish Program. It was a business that contracted with daycare centers to provide Spanish language classes to young children. I contacted them, reviewed a few spreadsheets and bought the business for $8k. I put it all on credit cards and started my quest towards millions… It was going to be great! I was going to own the biggest Spanish Language Class Business in the World…..or so I hoped.

I lost 20k over the year I owned it before I shut it down and closed the company operations for good. I was 22 years old with 22k in credit card debt wi...

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