The Tale Of The Company I Started Quietly And Closed Over The Last 2 Years
What if your definition of success is less about the outcomes generated and more about the quality of the experience and learnings along the way?
That's how I'm choosing to look at this recent experience of starting and closing my fifth company during the last two years. For context, it was a modern take on referral networking for service-based businesses.
This outcome might be considered failing to some. I count it as a success in many ways. Here's why (mixed with some of the lessons):
We tried. Some clients were tremendously successful using the service (one even 100x'd her investment); others weren't. Ultimately, we decided the juice wasn't worth the squeeze and shut it down (the writing was on the wall and we read it). We had to be thoughtful about where our energy was going and decided it was best allocated elsewhere.
My partnership was the best designed one I've had yet. From the very beginning, she and I clearly delineated our roles, expectations, communication, and preferences. The real success came from living those out. She got to thrive in her lane as a true operator, while I did the same in mine as innovator. We held each other accountable, shared feedback, challenged ideas, and owned our respective parts of the work. Ultimately, we were better together, and those guardrails made it possible.
We were intentional about our launch, pivots, and closure. We didn't act on whims or out of fear.
We solicited customer feedback and made iterations based on it, coupled with what we saw at the macro level. Much didn't work, and some did. We let it inform our next steps.
I've never had better systems in place from the get-go for us, our contractors, and our customers.
It taught us about ourselves and each other. For me, specifically, it was a great reminder that, of my five businesses, the most successful ones were born out of an invitation to create something for a specific person's real need. This, on the other hand, was born out of me simply believing there was a problem to solve with our innovation.
I've never had a clearer or crisper value proposition or pitch. We sold out (in stealth mode, word of mouth only) quickly. It took little explanation or “selling.” People got it and were in. It was, in theory, a painkiller, not a vitamin.
Execution trumps ideas. We undervalued all of the unknowns and the importance of what happens when real people (who don't think like you) are charged with making the most of your platform.
I didn't tie my self-worth or identity to it.
As partners, we parted in a better place than we started. And, almost all our relationships with beta customers and contractors ended on a stronger note.
Sometimes the “win” isn't in the way our culture champions it, but in our inner experience of it.
If you're navigating a similar journey, remember: sometimes closing a chapter is the win itself.
I'm curious: Have you ever ended something that taught you more than any outward 'success'? I'd love to hear your story!