Recently, my business partner, Kimberly Guevara, and I came to the decision to dissolve Fall In Love Learning LLC. This decision was not easy, considering that we've put a ton of work into researching best practices for every tiny detail of the business. However, I think we got caught up in all the tiny details, that we forgot actually to run the business. Let me explain.
Our vision of the company was a simple one: we wanted to create an accessible resource of tutoring for Title I schools and their families. We had everything planned out; which grants we were going to apply to, how the business-to-business-to-client model worked, what schools to work with, and how we were going to make profits. Being ambitious individuals, we delve into the legalities of running a business: what sort of insurance we needed, how to handle payroll, how we wanted to be taxed, and much more. We were so worried about any legal dependencies, that we dropped the tutoring part of our company. We stopped tutoring and had no source of income whatsoever. Because of this, all of the legalities that we were trying to cover became a major expense and we had no source of income.
The main reason we delve into the legalities of running a small business is that Kimberly was going to be away for a year and a half doing a missionary retreat. We were trying to cover all our bases before she left so I could continue running the business until she came back. However, we started running out of time, and we had no money either. So we decided to put the name Fall In Love Learning LLC in our back pocket and dissolve the company. While I wait for her to come back, I'll be doing what we should've been doing since the beginning: tutoring and making income.
This served as a huge learning experience for both Kimberly and me, as we have both realized that you can't create a business if you aren't working in that business. My next endeavors with entrepreneurship will be better, and hopefully easier, but who knows? Apparently, you need to fail 3 businesses before you have one successful business. If I could leave any words of advice to me before we created this business, it would be this: "Hector, don't forget why you wanted to create this business. It's to tutor, that's it." Don't forget why you do anything in this world, and especially don't let your fears and anxieties push you away from that reason.
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