I recently went separate ways with my long term business partner.
The people I was with and I started off as friends at a homeowners solutions convention and ended up setting a partnership business 3 weeks later.
Before then, I was stuck in a dead end task I had been trying to walk out of. This opportunity turned things around. However, more than one years into the partnership, every one of us were dealing with mistrust and misuse of company finances. With my finance background and the desire to uphold ethical values of a professional entrepreneur, I could not take it. Sold my shares and set up my company. The people I was with and I had employees who would handle everything, here I was trying to juggle everything alone, then my first and most expensive mistake was to promise my seasoned and new customers to wait out a new shipment of heat and air conditioner products I had made. But because of the miscalculation of the arrival date, the products ended up arriving halfway into the Winter time season. I lost a lot of orders on boiler installation equipment, central heating assembly parts, furnace parts, HEPA filter, programmable temperature control, electric heat pump, and smart Heating and A/C. My aim was to become a distributor so I wasn’t honestly prepared for other market needs love actual boiler maintenance or installation of hot water boiler so I didn’t even need to hire an Heating and A/C repairman. So I ended up holding onto my supplies until the season passed. I was banking my competitive edge on supplying whole house heating equipment and improvised electric fireplace suites for the new homes. I was ecstatic to learn that I wasn’t the only one facing supply chain issues since my former partner also faced stock outages due to stock mismanagement by the employees I left behind.