10 Unconventional Lessons I’ve Learned Failing A Business

Mindset and Habits
January 11, 2025
byCharlotte

My blog and channel focus on starting new things, embracing being a beginner, and encouraging women to restart whenever needed. That includes picking up the pieces after a failed business.

This article is also rooted in my frustration with the picture-perfect façades we feel compelled to present as female entrepreneurs at networking events. It feels so fake like we’re programmed robots reciting our successes. You know those cliché LinkedIn posts that turn something simple, like getting a driver’s license, into a life-altering accomplishment? I hate them.

Wouldn’t it be great if we created genuine gatherings —maybe even spaces where “no success stories allowed” is the theme? A place where entrepreneurs can vent about how tough things can be, without pretending everything’s perfect. Most people don’t realize the immense risks we take as entrepreneurs. With that in mind, here are some unconventional lessons I’ve learned from failing my first business. These insights are based on my personal experience, so they may not all apply to you. But I hope they spark reflection or inspire new ideas.

10 Unconventional Lessons From Failing My First Business

1. Simpler Is Better

Starting a business can be incredibly overwhelming. And to add to the overall stress, there are so many tools, systems, and technologies being sold to entrepreneurs, all promising to make your business run smoother, faster, and more efficiently. While these tools can indeed be beneficial, I learned that simplicity often wins. Don’t fall into the too-many-tools trap. I’ll admit, I was seduced by the promises of fancy software and new AI systems that could supposedly help me scale. However, when you’re just starting out, these tools can be more distracting than helpful. The real key to getting started is to prioritize simplicity. Don’t get caught up in trying every shiny new tool that comes across your feed.

For example, when me and my co-founder first launched NoLimbah, I was able to manage the basics with just a few simple tools:

Document Management: Google Suite, because it’s free, accessible, and integrates well.
Communication Tool: The free version of Slack, which was enough for a small team.
Project Management/Workflow Tool: Trello—simple, visual, and easy to use.

If I had the option, I would have added ChatGPT to the mix back then for market research—it would’ve saved me a ton of time. Startups of 1 to 50 employees consume an average of 35 active software apps, but overcomplicating things is completely unnecessary in the early days. Starting out doesn’t require fancy tools—it requires focus, consistency, and a clear strategy. Later on, when your business expands, that’s the time to invest in more tools. Keep things simple and scalable from the start.

I recently created this list to help you see things more clearly and save time by organizing over 1,000 tools, categorized by key business functions like ‘workflow,’ ‘marketing,’ ‘legal,’ and more. It helps you avoid wasting time searching for the right tools and allows you to gradually pick the best ones as your business grows.

2. Know What You’re Willing to Take On

Passion is critical to any entrepreneurial endeavor, but there’s a key distinction that often gets overlooked: your business must align with your capabilities, lifestyle, and mental resilience. When I started my first business, I was so caught up in the excitement of the vision that I didn’t fully consider the long-term implications. Yes, I was passionate—but I didn’t realize how demanding the operation would be. I later learned that unconventional lessons I wish I knew included evaluating whether my business aligned with what I was willing to take on.

It was naïve to think that passion alone could carry me through all the obstacles. The business required extensive resources: a sizable team, and major capital investment (at least half a million dollars to have a chance to get the business off the ground). While our startup was still small, we needed a team of more than 10 employees and 10+ gig workers just to handle the day-to-day operations. And let me tell you—managing dozens of people before you even get your product off the ground is incredibly stressful.

Beyond that, the financial burden was intense. We won several pitching competitions and secured funding from incredible angel investors, but it still wasn’t enough to sustain the massive operational costs required to launch a business of that scale. What stood out most to me, however, was how much I dreaded dealing with institutional investors and, more importantly, how fundraising as a full-time responsibility was completely the wrong fit for me.

What I wish I had done earlier is evaluate whether this business truly aligned with my lifestyle. I didn’t ask myself if I was truly comfortable with the pressures that came with raising funds and managing a large team. The emotional and mental toll was significant, and I found myself sacrificing my mental health for the sake of a business that was more complex than I was prepared for. I realized too late that not every business model is suitable for every entrepreneur. Now, I’m much happier as a solopreneur, without the constant stress of scaling up quickly. Ask yourself: Is the business you’re about to launch something you’re willing to commit to, not just financially, but emotionally and mentally? Understanding your boundaries is key.

3. Keep Raising Funds After Your First Win

If you are fine, however, with the prospect of raising funds for your project, here’s one important lesson I’ve learned: raising capital is an ongoing process. It was a constant focus during the last year of my business. Once you secure an initial round of funding, it’s easy to think that’s enough to take a breather. I certainly thought so. But the truth is that the first raise is just the beginning. After securing our initial angel funding, I made the mistake of thinking that I could slow down on fundraising and focus on running the business. What I didn’t realize at the time is that securing one investor is like casting the first stone into a pond—it creates ripples that can lead to bigger opportunities. You don’t want to be raising more than what you need of course. But in the early stages, you need to anticipate the cash you’ll be needing if things don’t go as planned.

In hindsight, I should have kept the momentum going. Once one investor believes in you, others are more likely to follow suit. Investors look for validation, and if you already have one or two backers, the perception of lower risk can help you attract additional investors. I learned that the fundraising process is continuous. Each round builds on the last one, and once you stop seeking capital, you risk stalling the momentum of your business.

4. Momentum Is Everything

Momentum is one of the most powerful forces in business—if you can harness it, everything becomes easier. Sam Altman, co-founder and CEO of OpenAI, explains really well how wins bring more wins to founders. From my experience, small, consistent wins build confidence and create opportunities—an unpopular opinion compared to the typical focus on big, game-changing moments.

I’ll give you a concrete example. A small event like a weekly beach cleanup in Bali—something that seemed like a simple community initiative—helped generate momentum across many aspects of our business. Here’s how:

Visibility and Downloads: The event drew a crowd, and as we educated them about environmental issues, we also increased awareness of our mobile app, resulting in more downloads.

Community Engagement: As more people participated in our event, it gave us a platform to engage with others and recruit more supporters.

Press Coverage: Our event caught the attention of some journalists and bloggers, leading to media coverage that further raised our profile.

Partnerships and Sponsorships: We attracted sponsors who wanted to support our cause, and some businesses even asked us to host educational events at their locations.

These beach cleanups alone gave us additional momentum to push the business forward in ways I hadn’t anticipated. From visibility to funding to PR, it all started with a weekly small event. Momentum creates a ripple effect—when one thing works, it leads to others.

5. Don't Give Power to the Wrong People or Institutions

This lesson is crucial, especially when it comes to investments as well as the people you bring onto your team. And as female entrepreneurs, the stakes feel even higher, as societal pressures tend to push us toward constant compromises. Too often, founders overlook the fact that granting equity—whether sweat equity for your early-stage team or when accepting investments—comes with a heavy price.

I’ve met many founders who viewed investment as a magical solution that would propel them forward, and I get it. No judgment. The reality is that being a founder is exhausting—emotionally and physically draining. After countless pitches, it’s tempting to accept any funding that comes your way. But just as investors are picky about which startups they support; you need to be equally discerning with whom you take on board. Investment ties you to your investors, giving them significant influence over your business decisions. It’s essential that they share your values, vision, and mission. Your equity is one of the most valuable assets you have—treat it as such.

For example, NoLimbah has been approached by major plastic producers, which made it clear that not every partnership aligns with our goals. While the prospect of significant funding was tempting, we knew that collaborating with companies whose core business revolves around plastic production would be a fundamental misalignment with our mission of fighting against plastic pollution. We didn’t follow through with those opportunities, as we firmly believed that any partnership should be rooted in shared values and long-term sustainability, and we could not compromise our vision for short-term gains.

6. Don't Compromise Who You Surround Yourself With

This is one of the most important unconventional lessons I’ve learned: the people around you will either make or break your business. It’s easy to think we’re immune to others’ influences, but the truth is, if you’re surrounded by people who don’t align with your values or passions, your stress will skyrocket. This applies to co-founders, team members, mentors, and partners. Of course, as your business grows, it gets harder to control who you’re surrounded by, which is precisely why you should be cautious while you still have control.

If you choose wisely, it will pay off. For instance, I’m still working with the same co-founder, even though our first project didn’t succeed. Just because a project doesn’t work out doesn’t mean the co-founder relationship was a failure. We’re now brainstorming new ideas together.
Trust your gut. It might sound like a cliché, but it’s vital. There was one time I ignored my intuition and pushed through a partnership that caused me constant stress. I didn’t trust the person I was collaborating with, and it felt like extra work to decipher their motives at every turn. Eventually, my partner made me confront the situation—he was tired of hearing me complain while I continued to force the partnership. He was right. I’d always chosen the right team members, people who believed in the project and would give their all. I ended the collaboration, and it was such a relief.
People will try to take advantage of you, so stay vigilant. One valuable tip I use, which I’m surprised not many people do, is simplifying complex documents with ChatGPT. Whenever someone sends me a contract full of legal jargon, I ask ChatGPT to point out who the contract favors and highlight any unfair clauses. It’s not about blindly trusting AI, but it has saved me time and helped me avoid being duped. Whenever I see someone trying to sneak unfair terms into a contract, I pay close attention to what that says about their intentions.

7. Save Your Money As Long As You Can

You’d be amazed at how far you can go with minimal budget. In fact, one in three founders start their business with less than $5,000. Many people tell me their biggest obstacle to starting a business is the lack of funds. But not every project needs to be capital-intensive—my current venture only requires a phone, a laptop, and some free tools for website building and video editing. My website hosting costs less than $50 for the first year.

Even if your project is capital-intensive, there are unconventional ways to build, grow, and validate your product-market fit without breaking the bank. Plenty of free tools can help you, it’s just about finding the right ones. For example, I was able to:

Build a professional pitch deck.
Create a no-code app prototype to visualize my idea.
Find a co-founder through a matching platform and convince him with my pitch and prototype.
Assemble a team of volunteers for areas like social media, finance, UX/UI, and web design.
Form partnerships with local universities in Indonesia, which led to running pilot tests in a couple of villages with 1,000 initial testers.

And all of this cost close to nothing, allowing me to show proof of concept and an MVP to potential investors. The key is to avoid getting overwhelmed by all the tools out there and focus on those that truly add value to your project.

8. Give And You Shall Receive

I’ve been pleasantly surprised by how much what you give out comes back to you—often tenfold. Don’t hesitate to reach out, whether it’s to help someone else, ask a question, or share a piece of advice. It doesn’t always need an ulterior motive, but it will inevitably benefit you down the line. You’ll rise by picking up nuggets of wisdom from others and, in turn, helping newcomers who are just starting their journey.

9. Delegate Whenever You Can

Delegating isn’t always possible, especially in the early stages when you’re doing most things yourself. However, there are creative solutions:

Sweat Equity: Once your business has solid foundations, consider offering equity to bring in talent. Keep a portion of your equity (usually around 5%) for individuals who believe in your vision and are willing to work for free in exchange for a small share. Make sure to have a vesting period with a one-year cliff to ensure both parties are committed.
Co-founder: Ideally, your co-founder should complement your skills and share your values. Finding a co-founder is one of the most important decisions you’ll make, and it’s essential that you take it seriously. The process should be slow and deliberate. Don’t underestimate yourself or your business—you deserve someone who believes in your vision. I remember when a friend of mine offered to become my cofounder in the early days. At first, I was excited—he was the first person to believe enough in my project to offer. But the more we talked, the more I realized his skills and expectations weren’t aligned with what my business needed. That’s when another friend gave me some crucial advice: ‘You want to build an app, but you’re not a tech person. You need a tech cofounder. No matter how difficult it may be, that’s what you need to find.’ Hearing that made everything click. I realized that despite how hard it might be to find someone with the right skills and mindset, I couldn’t settle for anything less. After a few months of searching and interviews, I found the perfect match. From the moment we met, we clicked. We took our time, and set clear terms, and almost five years later, we’re still working together smoothly.
Skilled Volunteers: Now, I have to say that finding skilled volunteers doesn’t work for every business. It’s definitely easier to get help for little or no cost when you’re working on a project that’s seen as a “noble cause.” We were fighting plastic and waste pollution, with a specific focus on reducing ocean pollution in Southeast Asia. That’s a cause that many people care deeply about, so we found that getting volunteers wasn’t as hard as it might be for other businesses. But if your mission aligns with something people are passionate about, it’s absolutely a possibility! The key is being willing to provide a true working experience for them. They need to feel like they’re getting something valuable in return, and you need to give just as much as they do. So many talented individuals out there are ready to lend a hand, and if you’re genuinely passionate about your project, you’ll be able to communicate that and get people excited to contribute. Remember, it all depends on how much passion you pour into your cause and how well you convey that passion to others. When you give it your all, people can sense it, and it’ll make all the difference.

10. Taking Action is Not Rushing!

This one might be an unpopular opinion, but it’s something I’ve had to learn the hard way: taking action doesn’t mean rushing. We live in a world where speed is constantly emphasized—do everything fast, go, go, go, always take action. For a long time, I was that person: impatient and moving at full speed all the time. But I’ve learned that patience is just as important, despite my nature and despite everything you hear about how quickly things should move.

It’s true that you shouldn’t overplan and get stuck in the analysis phase. I agree with the “fail fast, learn fast” approach that I talk about in another article. But rushing into things isn’t the answer either. You need balance, just like in all areas of life. Taking action is crucial, but rushing without a plan is a recipe for disaster. I’ve seen too many people jump into business without any solid foundation—no plan, no strategy, no market research—and waste tons of time and money.

I had this one experience working in waste management in Indonesia. A founder asked me for advice because he was looking to start his own waste management business. He seemed so eager, and I was happy to help. But when I asked how long he’d been in Indonesia and what research he’d done about the local market, his answer left me speechless. He said, “I came here for a couple of weeks on holiday, and I saw a lot of plastic on the beaches, so I thought there must be a market for sure.”

I couldn’t believe it. Here he was, planning to invest hundreds of thousands of dollars into a waste sorting facility, and he didn’t even understand the basics of the industry. I asked him, “Do you know where you’ll get your waste from? Local collectors won’t sell to new foreign facilities unless they collaborate with local ones.” And there’s also the fact that collecting waste from the beach isn’t as simple as it sounds—you need specific authorizations from local authorities, something he had no idea about.

The lesson here is that you need to do your homework first. Don’t just rush into things because the world is telling you to take immediate action. Yes, you need to act, but act with purpose. Don’t cut corners or try to bypass the necessary research and planning. That approach is just a shortcut to failure. Take calculated risks and make sure you’re not wasting valuable time or money because you were in too much of a rush.

Failing a business taught me valuable lessons that I carry into every new project. If you’re on this journey, I hope these insights help you navigate the ups and downs of entrepreneurship. Make sure you leave a comment to share your own experience and what you learned from it!