213 - Shutting Down After a 4-Year Struggle
Today is one of those painful stories of buying then losing a business. Philip Blackett bought a cemetery services business in the fall of 2019. Seemed like a great business: B2B - recurring revenue Super niche (cemetery services??) Entrenched in its clients' businesses ...and a big fat pipeline of sales opportunities to boot. Philip was expecting to double revenue in his first year of ownership. And things were going well for the first 3 months or so. But then COVID hits. You'd think that would strengthen his particular business, ugly as it is to say. Instead, it precipitates a slow-motion death spiral that consumes Philip over the next 3+ years as he valiantly tries to keep things afloat. Including taking a second job, moonlighting as a manager at a Chick-fil-A. He finally and officially shut the business down 2 months ago today, as I read this. This is his story. I said it in the interview, and I'll say it again here: Thank you Philip for sharing it with us. Here he is, Philip Blackett, former owner of Cemetery Services.