Failed Partnerships Given A Second Chance. Partnerships allow entrepreneurs to pool complementary skill sets and share startup costs and risks with one another. Partnerships also helped established brands to achieve what they were hoping for. However, despite the success of others in their strategic partnerships, some didn’t turn out too well and eventually failed miserably. Take a look at some of the most common reasons why business partnerships break down, so you can make any partnership you enter a more successful relationship. Free Resource: "Soul Why: Soul Rich Woman Blueprint" and "How to Delegate 80% of your to-do list" ---> https://be.soulrichwoman.com

Show Notes

Episode 9: Failed Partnerships Given A Second Chance

Hello and welcome to today’s episode. It is all about failed partnerships given a second chance. I went through a failed partnership, went into a 6-figure debt and it was horrible. And I labeled myself, I’m not worthy of doing business anymore, I should just go back and become an occupational therapist once again in the healthcare industry that I was. I’m not capable enough, I’m just so stupid. I labeled myself with all these negative emotions because I wasn't able to get out of my black hole. 
Giving yourself a second chance(02:05 - 02:20) When I started to own my story and tell it as it is and feel the pain, I went through all the pain that was there. I transcended to being able to stand up once again. 
(02:21 - 02:37) I gave myself a second chance. It was not because of choice. It was because I found a mentor who was able to guide me through my difficult times, who counseled me and walked with me during my difficult times. 
(02:40 - 03:00) I’m very glad that he encouraged me. And he asked me this question: What is worse than rock bottom? The only way is up. Turn your mess into a message he said, and I was blown away. 
The blueprint of your mind(03:10 - 03:32) You see we make our language, our words, and our mind, whatever that we are thinking into a reality. But do you know that every spoken word and everything that you think in your mind becomes a blueprint. What is the blueprint that you wanna give yourself in order to achieve your success?
(03:34 - 03:53) I gave myself a second chance and because of this mentor, I really respect him a lot and I just trusted him and just followed exactly what needs to be done to go from offline to online. To move my life forward. 
Ask for someone else’s help!(03:54 - 04:10) Remember we are not alone. If you keep thinking that you’re alone and you’re not willing to ask for help and you’re just stuck in your own blackhole then it will be very difficult because you’ll be left overwhelmed and unworthy forever.
The rise of the second chance(04:26 - 04:32) Because I gave myself a second chance, I invested in a cafe retail chain with my partners.
(04:37 - 04:44) And this time around we set a couple of things in place. Set contracts in place, who invested how much.
(04:49 - 04:57) Will our shares be diluted? What kind of things do we need to do, what kind of roles do we need to play within our respective positions? 
(05:18 - 05:28) In the end, because of a more strategic way of partnership we were able to grow the business into three countries. 
The common goal(05:35 - 06:01) In total, we have 18 franchisees and licensees. It was amazing, I never thought we could make so much money. I never thought I would have such a breakthrough in partnerships. Yes, we do fight, we do quarrel, but you know what is the main difference here? We had a vision. All of us have a common vision, a common goal.
(06:02 - 06:12) We wanted to bring coffee culture into the lives of many people out there and also to help people to start their own businesses. 
Establishing Soul Rich Woman(06:24 - 06:43) Because of this knowledge, because I’ve given myself a second chance, this led on to how I grew Soul Rich Woman into seven countries. And using leveraging podcasting, reach out to more listeners than ever before in 48 countries. 
(06:45 - 07:17) Imagine that I’ve not given myself a second chance, I would still be thinking this poor, lonely, victim kind of mindset. I would still be just stuck in that. But because I chose to give myself a second chance, saying no to my failures. And rising up, being empowered once again. Owning back my power that’s in my hands, I was able to progress.
Key Takeaways:
  1. Give yourself a second chance and create a milestone
  2. Never hold yourself back.
  3. Be with people who are like-minded
  4. Your past does not equal to your future
  5. Give your failures a second chance, learn from it!

Key Resources: Subscribe to Genecia’s Youtube channel: https://bit.ly/2lFnHlWVisit SRW’s website: https://www.soulrichwoman.com Follow Genecia on Instagram : (@geneciaalluora)Follow Genecia on Twitter: (@GeneciaAlluora) Check Genecia’s LinkedIn: https://www.linkedin.com/in/genecia/