Why my first business failed — and why yours doesn’t have to

For a class project back in college, I learned how to build a website. Now, we’re not talking one with fancy, breakthrough graphics and cool widgets, but rather a simple homepage with a couple of blog posts, and a contact page for visitors to reach us. And while this first project was very straightforward, I continued to develop my skills and, over time, became pretty good at putting together amazing websites in a short amount of time.

After graduating, I decided to make use of these skills. I partnered up with one of my closest friends and we built our very own web design company. Fortunately, we found quick success. We were even featured in HR Magazine as a completely bootstrapped company leveraging skills from remote employees across the world.

While I would love to say that we dominated this niche for years and that we found an incredible, deep sense of gratification running that company, the truth was that after two years of moderate success, we had burned through all of our money and were forced to shut down.

Looking back on it all now, I can say that we made many of the common mistakes that cause companies to fail.

Here are

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