My biggest risk:
In 2005, I was operating a car detailing business ( only ) in a rented building. I had purchased land next door
, with plans to develop it into a car wash. I had no money, so the land owned agreed to owner financing and sold me 3 commercial building lots for $30,000. I had a business partner and we had been in business together since 1993.
The former partner and I never made much money at the detailing; we were low-priced and each winter business slowed to a trickle. Since I was good with money and could live on less, I was the one who went without a paycheck for 3 months each winter. The financial strain as well as different business philosophies caused us to argue. The arguments increased in frequency and intensity until he finally left the business. With no notice, he simply walked away. No meetings about the transition, no discussion. Nothing. He already had a new job lined up. I was devastated.
I could've easily given up, but out of determination, rage and spite I decided to fully pursue my dream of building a car wash. I somehow got financing after being rejected by a number of banks; laughed out of their offices, etc. It was humiliating, but I persevered. I had a young family and was building a new home at the same time. I was seriously over-extended and worked 7 days a week for years to make it work. Once the new car wash was up and running, my former landlord evicted me from my detail shop. Instead of just closing the detail shop, I built a new building on the West end of my land.
It all worked out, somehow! I just finished a full-remodel of my IBA, raised prices in SS to $5/5min. Things are finally working out, after 20 + years of grinding. I got my used car dealer license, bought an 8-plex apartment building and a 5-plex that also has one commercial space.
Never give up.