Ep 453: Why Failing your First Business is a Great Start with Jeff Kamys

Sean: So when you said you had partners and a lot of entrepreneurs today have partners, what made you say that? It's it complicated thing and it's better to go alone.

Jeff : Well, in this case here. So what happened was, is I because they were going to bring business right But they had a majority, like I only had a third. They were going to bring business they kind of could control when they brought that business. And I took the lion's share of the upfront cost and not knowing how complicated it would get and continue to get without setting up the parameters of the project properly. I got taken down what we call project creep. Yeah, yeah. So it got it was, you know, this is something that I had budgeted maybe X for, but it turned into triple X and, and, and it took and the time it went from a project that I had like a 3 to 6-month time lag on into like two years. And so it ended up the ugliest way possible, which is why I'm not mentioning any names of whatever it was because it ended up in a lawsuit after all. And I did not break even. I lost a lot of money and a lot of time. But, you know, you learn from it. And I think it was kind of classic. I may not have enough focus on it. And I think that's what Tesla again it's only apt as a comparison because we're all human and I think that's what Tesla investors are worried about with Twitter you know is the focus going to stay there because we really think you can't.

You know the one thing I joke about sometimes with my kids because I have things that I'm interested in is can we clone people? We can't clone people. And there are certain people who can ignite things a certain way that other people cannot and they won't have the same ideas. You know, we've all been in those rooms. You take that one person who can ignite the whole room with the idea or get everybody on the clear path. It changes the whole room. You can have ten people in there, but the 11th person comes in there with that one idea or that direction that no one else thought of. And you would have to say, that's probably Elon Musk, you know, that would be missing maybe in that scenario.

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Jeff Kamys

LinkedIn: https://www.linkedin.com/in/jeffrey-kamys-19159174

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