The Found Podcast with Molly Knuth5 Sep 2023

145: Perspectives from a "Failing" Business Owner

Happy September, listener! I've read that September is the new New Year and I agree. As a mom we're getting back into the routine of life and there is a natural reflection that happens. In this first podcast of September I'm reflecting back on my business "failures" and sharing the lessons I took from them. I can't help myself. My human design profile lines are a 3, have to try things out for myself, and a 5, have to show people what I learned. But that doesn't make it easy. Failure (or what I have perceived as failure in the past) is my biggest fear. I've learned a lot over the last few years and hope you'll find some takeaways in this vulnerable solocast. Key Takeaways

It's taken some time for me to be able to talk about my business "failures" from a non-emotional, neutral space, but I'm giving it a try. In this podcast I'm recounting my three biggest failures and what I learned from them.
Failure One: Big News in June 2022 (4 min) In June 2022 I had a whole podcast sharing my big news of my realized goal of purchasing an old historic property downtown. Demo was great, but as the time came for making decisions I was totally frozen.
Saboteur Assessment (8 min) My saboteur type is avoidance, and avoid I did. I knew in August that this building wasn't right for me but I didn't admit it until winter. Finally in March I met someone with big dreams and a vision for the building. Passing the building on felt right, even though I was ashamed to let go of such a publicly shared goal.
"People's businesses pivot. And actually, a sign of a business that has longevity and has stood the test of time, they aren't the same business 5, 7, 15, 20 years down the road that they were when then started out." (13 min)
"You set out to save a historic building. You may not have been the person to see it through the whole process, but you still held that building and made sure it went to someone who would care about it. So you did in fact satisfy what you set out to do" - My friend Kara of the BC Barnburner (16 min)
Failure Two: Business Finances (18 min) My business grew faster than the systems I had (or didn't have) in place could sustain. I waited way too long to seek help.
I'm so grateful for Sheila Hansen and the changes she helped me make. We put so many systems in place, like billing for the month ahead with ACH, but she also made me examine my money mindset. She didn't just do it for me; she coached me through. (25 min)
Failure Three: Trying to Out-Hustle (31 min) I thought I could just "Do one more thing" to try to outrun the problems I had with my business administration systems.
"There is no way you can outrun the systematic and structural deficiencies of a business by adding more to your plate." (32 min)
"Be clear on your end result but be flexible on the path that gets you there." (40 min)

P.S. This month marks the 3-year anniversary of the pod! It's taken on some changes over that time, like all good things do, but I'm so grateful for your support. Thanks for listening! Connect Find me, Molly Knuth, on Instagram and Facebook. Follow Molly Knuth Media on Facebook and Instagram.

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