Every season on America’s Funniest Videos you’ll see a clip of some poor fellow getting punk’d by his friends or family.
He’s the guy seen scratching a lottery ticket and thinks he just won a lot of money. You may see him start running around with his arms flailing, kissing anything in sight. He thinks he hit the mother lode, but they’re playing a trick on him.
Back in 2009, that was me. Not quite the same situation, and most definitely not being punk’d. This was real.
When a Deal Falls Through
I’m sure most of you don’t know this, but two years ago I came THIS close to selling StudioPress, a company I founded which develops premium WordPress themes.
Nearly everyday you can read on Mashable about startups that are bought by larger companies or investor groups. On that site, more than likely those deals which are announced fall within the millions of dollars – and some of them in the billions.
I was less than two weeks away from having a story like that of my own – not to say that Mashable would have covered it, but StudioPress was a few hundred hours from changing hands. Two weeks from me and my family having a pay day that many dream about.
The saying goes, close only counts in horseshoes and hand grenades, right?
So What Happened?
I won’t go into all of the (gory) details, but ultimately things didn’t work out. It was disappointing because I was really excited about the opportunity to stay onboard with them and continue to run StudioPress.
I had plans to make it grow, to strategize and to see how far I could take it with greater resources at my disposal.
I visited their office twice, and got to know some of the employees – whom I really liked and knew I’d work well with.
Everything during the due diligence round checked out – but the bottom line was the investors weren’t completely onboard. And I respected that, even though it was really difficult to hear.
Living to Tell About It
You might be asking why I am sharing this somewhat personal situation – and the answer is simple. I’m an entrepreneur, as many of you who are.
We share commonalities with things that are somewhat trivial (like web browsers), and also with things that affect us on a much higher level.
When things don’t go our way, we have the option to sulk and let it (negatively) affect how we do life. The other option, which is usually much more difficult, is to identify the silver lining in a could that feels pretty dark.
Even though the multi-million dollar deal fell through, I learned a lot – from the process itself, and also finding fortune in what I still had. An opportunity to take that business which I had built to places it had never been.
The Silver Lining in My Dark Cloud
Less than a year after the deal fell through, I made a business decision that I believe was the silver lining in the dark cloud. 9 months ago I proudly came together with 4 incredible people to form Copyblogger Media.
When one door closes (or in my case slams), at some point another will open.
Of course I think about what could have been – but looking back it might have been the best thing for me as an individual and StudioPress as a company.
Within the past 9 months, StudioPress sales have doubled. In March we launched Premise – a tool for building landing pages. Scribe SEO saw a great update.
I’ve become the Chief Product Officer at Copyblogger Media.
The Genesis Framework is now being used on over 300,000 sites.
I think you get the picture, that I don’t regret what happened – even if it meant not having that big pay day. I learned a very important lesson, and I’m quite content.
When the deal fell through, another door opened…
Well, selfishly, I’m very glad the path took you here instead of there.
Somehow this comment doesn’t surprise me. It’s a great pleasure to work alongside you Sonia.
Group hug!
I think that the biggest thing that an Entreprenuer is paid for is dealing with financial uncertainty.
What bums me out is that even in 2009, you had a business that sold stuff and added value….but now, as then people are more willing to invest in trivial “rating” services, groupon clones and other foolishness than they are willing to understand what’s really happening.
“but now, as then people are more willing to invest in trivial “rating” services, groupon clones and other foolishness than they are willing to understand what’s really happening.”
I agree Chris, millions of dollars are pumped into a business for the flimsiest of reasons and then when they go sour they wonder why.
Brian, so glad you are part of the Copyblogger family. although you may have been sad at the time, this has worked out better for you
Thanks Sarah, I appreciate that. Darn proud to be in the family, that’s for sure.
There must be thousands of these stories out there that don’t get told. Thanks for sharing this one.
You’re welcome Darryl. It was crushing at the time, but looking back I’m certainly glad that it happened.
Onto much bigger and better things now… one of which includes StudioPress!
Brian,
Thank you for sharing. The entrpreneurial stories that inspire me the most are those that are willing to show the ups and downs . It’s the way we handle the “down” times that often make the biggest difference . With so many success stories, we only see the end result, not what it took to get there. Thanks for being you!
You’re welcome Denise – thanks for taking the time to comment. Ups and downs occur everywhere – it’s a matter of the pictures we want to paint of our lives, and how we want others to perceive us.
I’ve always been extremely transparent, so I’m find admitting when bad things happen.
Or, in the words of one of the 20th century’s most brilliant philosophers, “Just keep swimming, swimming, swimming…”
Some days you just wish you had emergency arm floaties
There are a lot of life lessons that come from Finding Nemo. Dory’s words of wisdoms FTW!
Dory: (Inside the whale) “He says it’s time to let go! It’s going to be alright!”
Marlin: “How do you know? How do you know something bad isn’t going to happen?”
Dory: “I don’t!”
Congratulations for letting go of the “big payday”. Glad your still swimming.
Still swimming Dave – thanks… and I’ll never forget you sticking up for me back when some yahoo flamed me on Twitter for thinking I ripped off his wine site.
Ha! I’d forgotten about that. I wonder if he ever figured out he was being a pinhead. If I remember correctly, some content scraper was using one of your themes for his wine content thievery and that guy’s site was a main target. Guess our “winey” friend didn’t know the difference between a theme developer and a theme user. It certainly is a big ocean with a lot of strange fish in it!
Amazing how a few small decisions could easily have altered your path. What if they would have bought SP? Would you still be involved? Would SP even be nearly what it is today? Would you Shelly and Zach be living on a beach in the Caribbean? Would you have franchised your own Starbucks
I guess a fun question would be… if this deal would have went through, what would you be doing now?
I remember talking with you about this back then and although you seemed burned out at the time and a big payday is always welcome… To me it seemed like the collaboration with CopyBlogger reenergized you which has shown through in the work SP and the rest of the CP team has been doing.
Anyways… great to see things working out so well and look forward to watching any new projects in the future.
Heh, you don’t know how many times I’ve thought about where I’d be, or what I’d be doing.
And you’re right Bryan, the merge into Copyblogger Media gave me an incredible sense of re-energizing that I desperately needed.
Like Garth says, “some of God’s greatest gifts are unanswered prayers.” So true.
Thanks for the reminder, Brian.
You betcha Jess – and I completely concur with the Garth reference. A lot of people don’t know this about me, but a while back I was country music nut. There’s an incredible amount of truth in country music lyrics when it comes to life. TONS.
But Brian … as a Christian, you should know that its the Bible … not country music lyrics that contains the “incredible amount of truth”!!
It’s hard to understand at times … and sometimes impossible to understand … but All things happen for one reason or another. In this case, the original deal could have lead you down the wrong path, clouding your judgement. Who knows! Life’s not all about the multi-million dollar deals – its about doing good with what you have.
Just a reminder
Anyway, I am thankful for where you are now!!
Dave
Dave, very fairy point – and maybe I should have just called them “life-lessons” as you’re right, only the Bible speaks truths.
Great article…It is so true about one door closing and another opening. because of you and your company, We are able to build cutting edge designs and implement SEO at a much lower cost to our clients. A few years ago this was not possible. Thank you for everything you guys do..
Alex
Thanks Alex, definitely great to hear success has come your way!
I’m just glad that when I promised you StudioPress sales would double in a year, I came in ahead of schedule.
I don’t think I had any doubts about that when we first talked. It’s a good thing I’m a smart guy and took that call.
Thanks for sharing this! I always tell people I can trace every good thing that’s ever happened to me directly back through a series of events to something bad. Just think of the impact those 300,000 Genesis site shave! If you HAD sold StudioPress, I wouldn’t be playing my tiny little part in the CopyBlogger Media march to global domination right now! (Ok, Ok.. I know that isn’t the goal, but it does sound impressive!)
The great thing Brian is this is just the beginning. StudioPress and the Copyblogger Media team is just gearing up and the opportunities are endless.
Kudos and congrats!
Thanks Dre – I totally agree. When I decided to sell (or at least as the deal was being worked on) I was deflated and needed some kind of change or kickstart. The merge into Copyblogger was definitely a kickstart, and one that opens all kinds of doors.
I can appreciate the scenario, it’s not unlike some I’ve experienced (Funding, acquisition). Just when you think things have gone south, another opportunity presents itself. Through my experiences I’ve really started to believe that things happen for a reason.
A great product, hard work, and a little luck go a long way
I have watched you from day one Brian, and it appears to me that you have made the right call every step of the way. I remember the early days. Your decisions has made it possible for many people to create a lively hood that would have otherwise not have happened.
We all get to the point of needing inspiration and a nudge, in this case I think God was looking out for you. You may have been happy with the money, but you may have been miserable with the involvement. This way, you are making the money, providing a service to many people out there, and have a huge amount of freedom. And with no reservations.
Good luck on your continued path.
Deborah – there’s a few people like you who have been there since day one for me… and for that I am grateful, as it proves I’m doing something right in the workplace. I do agree that it happened for a reason, and I couldn’t be any happier than where I’m at right now. Life is good.
It’s only money Brian. LOL
“being punk’d” – that’s a new one on me.
Not heard it used in the UK.
“The Genesis Framework is now being used on over 300,00 sites.”
Are we missing a “0″ or is the comma in the wro0ng place?
I’ve taken a look at Scribe and Premise and if you had an option to buy like the Pro Plus version of Genesis, i.e. one off payment….. I’d be in there like a rat up a drain.
Something to consider.
Cheers Brian.
Awesome post, Brian. It’s all about perspective and while looking forward can sometimes be scary, it seems like looking back rarely is. 99.9% of the time I’m thankful for where I am versus where I was or where I thought I was going. Sounds like this is the case for you, too. I’m really happy with where StudioPress is at and with what the Genesis Framework has allowed me to do through my business. So thank you for that!
Random geek question: Noticed that your post has a “.htm” in the url. I know you’re running WordPress (obviously). How/why did you do that? Just add a “.htm” at the end of the permalink slug on the Edit Post page? Curious minds want to know.
Continue to be blessed, man.
Hey Dave – thanks so much for the comment… as far as the permalink thing, I’ve been doing this as long as I’ve been using WordPress. Maybe it’s the influence on the days of html websites, dunno.
I am certainly happy that you ended up part of Copyblogger Media as it means I get to work with you in your role as Chief Product Officer. That’s been pretty awesome for me and I hope it continues to be lucrative going forward.
Thanks Nick, it’s definitely been fun working with you… even though I’m somewhat envious of the weight you can put it. But I won’t hold that against ya.
Great post Brian.. I started using your themes back in the day and was a fan of the Revolution themes but you guys have really created a something special.
I Love the genesis framework and what you guys have done with it and it’s the only theme I use.
Thanks so much Derek, appreciate the comment and more so that you use exclusively the Genesis Framework.
Although this was obviously a very stressful experience for you, I’m sure it’s been a great inspiration for others who have come very close to their big payoff, letting them know that they have to keep working.
My own career upsets are certainly on a much smaller scale, but for every deal that falls though, I just have to learn whatever I can from it and keep moving on.
Hey Blake – thanks for the comment… it’s been almost two years now, so the sting is definitely gone. Plus, things are going so well now with Copyblogger Media that I hardly remember it happened to begin with!
I sure do remember those days…really glad it worked out for you my friend…
Same here – we’ll see where it all leads, but I have high hopes!
Great words of encouragement and wisdom from a trusted resource.
Thanks Brian for sharing. This is precisely what I needed to hear right now as I’m looking for guidance to continue down this webpreneur path.
Thanks James – always appreciate your ongoing support of what I do…
I think we all need to hear more about not so great things that happened to people who are now successful entrepreneurs. It’s never a straight line to success, there are many doors and windows that get closed in our faces. It’s the decision on whether we will keep moving forward or throw in the towel. You kept moving forward and Im so glad you did! Thanks for the words of encouragement!
More than 17 years ago I was riding the PATH train from Manhattan to my home in Jersey City. It was shortly after a bleak New Years Day. The company in which I was a partner and where I had invested all my hopes of dignified “senior years” had crashed.
A few days before Christmas, the partner I had trusted had disappeared with all the company cash, leaving piles of unpaid bills he had kept secret. He even stole the $50K of revenue from advertisements I had sold in a travel guide for which I written all the text, taken all the photographs, sold all the ads and organized national distribution. I learned later he even told the publisher I was the one who stole those proceeds.
On the PATH that day, I had my personal computer that our landlord, owed five months of back rent, had kindly allowed me to remove from the locked office. He honored my receipt showing I had paid for it myself. He knew I was as much a victim as he.
At the first stop a friend got on and sat next to me. By the time we got off the train, I had learned about this new thing called the Internet. The next day I went and spoke with two young men who had started a web development and hosting business. We made a handshake deal. I taught them about negotiations, proposals and contracts while I learned HTML and server management.
After a few years of the mutually profitable relationship, I started my own web dev and hosting business.
On that terrible gray day in 1994 I was 61 years old. Broke. No job. No college degree. Unhireable due to my age.
I am now 78. My web site building and hosting business has clients in 7 countries. Some of them have been with me since I started. This year I am on track to earn about 6 figures. (At least one of the sites that has been with me for years was built with StudioPress.)
Takeway: Never be defeated. Never give up. Every failure is an opportunity. Every loss is a fresh new start. Listen to Steve Jobs Stanford U commencement speech where he talks about using the certainty of death as way of getting the most out of life. And listen to what Brian says about carrying on after a great disappointing.
Brian, thank you for a great product and for sharing your story.
Wow Joe. That’s brilliant! I can’t believe no one has noticed your story. It’s really inspiring too
I love it when bad things go good.
Hey Brian –
thanks for this inside story…
I’ve been an avid fan and advocate since the Revolution days
and am really pleased that things have worked out so well for you (and your family).
Hooking up with CopyBlogger looks like a wonderful match….
–J
Hello Brian. I’m just learning all about your “story” and diving into your themes now and, let me just tell you, I’m madly impressed with Genesis!
I recently switched over to News theme from a different well-known theme and I’m so happy I did.
Anyway, just wanted to say that I’m a satisfied customer!
As a longtime happy customer, I too am happy that you are “here and not there”.
Keep rockin’.
Awesome Justin, thanks for that!
Great post….I’m a big fan of your blog.
Technically this post should have been titled “How I LOST OUT on Millions and Lived to Tell About it.” There’s a BIG difference. I’ve been at the receiving end of ACTUALLY losing quite a bit of money, not just losing out on a future opportunity.
Regardless, these circumstances certainly do teach us many lessons even though some don’t have doors opening on the other end. That’s when it’s really difficult…
Hey Jonathon, thanks for the comment – and you’re quite right about the title change. Well done.