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  • #966052
    markosolo
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    • Total posts: 11
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    Hi All,

    Great to see a site like this exists! Thought I would say hi and introduce myself. My name is Mark and I recently turned 20 years old, I live in Perth.

    When I was 18 I started my first business doing exactly what I wanted to do, which was great. The only problem was that I borrowed a lot of money to start the business(excess of $50k) and really wasn’t too worried about getting customers or earning money, I just loved doing what I did. This obviously was a very bad way of doing business and proved to be a business model which shouldn’t be copied ;)

    Whilst losing as much money as I could I got into another venture with a coworker from my last place of employment providing IT Managed Services to SME’s. This was very successful as I’m very good at Sales. This venture helped me through the losses my first business was making(I was locked into contracts, I couldn’t get out of my first business). After a while one of my providers who my largest contract was with made some big mistakes which provided me with a way out of my contract, allowing me to call it quits on my first business.

    Long story short, I am now back in the industry my first business was in after leaving my business partner to look after the Managed Services business. This allows me to focus on doing what I really loved, except now I know what I am doing, and I’m doing it really really well. Unfortunately I know longer have the huge capital I originally had, and paired with a credit rating which is a lot worse off, things are quite tight. Looking back, I can’t believe how stupid I was – if I knew what I know now along with the capital I had before, I am sure I would have a booming enterprise… But we all learn from our mistakes and unfortunately mine were some rather large ones!

    Now my business is doing really well, in fact we are expanding so fast I don’t have the capital to keep up, I have actually had to slow it down, but that’s great. I also have a few little online ventures I run on the side which I think may have potential and I think I may get into a little blogging, see how that works out. I am also starting some studies in business and marketing, which should help me along my way.

    Anyways, now you know my story, I’m sure I can bring a lot of knowledge and experience to the forums and I’m sure I can learn even more from you all. I look forward to spending some time here over the coming years!

    Cheers,

    Mark

    #1015774
    Chris Bates
    Member
    • Total posts: 966
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    Hey Mark,

    Welcome to the FS forums!

    Thanks for sharing your story, good to see you’ve found yourself back on your feet.

    We do all make mistakes, I’ve made my share and am still paying for it. But that’s part of life, you learn by doing!

    See you around!

    Cheers,
    Chris

    #1015775
    soliddata
    Member
    • Total posts: 392
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    Welcome Mark,

    Great to hear you have worked your way through things to get back up and running.

    What business are you in by the way?

    Kevin

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