I Got Caught Red Handed

Stealing candy from your mom isn’t a long term viable business model. But when you’re 13, it’s a good introduction to the world of supply and demand, inventory, sales psychology, and hustling. Not to mention, I was making some money!

(If you missed the beginning of the story from a few days ago, click here.)

But one day I made a mistake, and my little venture was dead in its tracks.

What was the mistake?

I didn’t have a good cash management system.  What I had was a pile of cash and coins stored in an empty box of airheads.  Where did I keep it? On the floor in my bedroom, in plain sight.,Until one day, it wasn’t.  You see, my mom doesn’t go for this kind of tomfoolery.

One day I came home, and the box was empty.  The cash had been reclaimed by its rightful owner (my mom).  And I was told in clear terms, that’s the end of the candy business for you. Why hadn’t I just put the box in a drawer or something? What a stupid mistake!

And while it seems like a juvenile tale, this experience has stuck with me all these years.

Because in business, as in life, simple missteps can bring the whole ship down (or at a minimum, set you back substantially).

In #business, as in life, simple missteps can bring the whole ship down Share on X

I’ve made a lot of them, and I’m going to tell you about ‘em all over the coming weeks.

But there’s one thing that can often overcome missteps. It’s something I learned from my dad when he started his first business.  And it’s something I bet you know a thing or two about as well. More on that next week!

This story is part of my journey.  I’ll be sharing a lot more like it with you over the coming weeks.  I hope you’ll find it entertaining, but also be sure to look for the lessons that you can pull away and apply to your business!