My Telecommunication Recharge Card Business failed in early 2007.
I started the business in 2005 with zero equity on my part, and about $150 loan from a friend. I had two employees who worked in two shifts (Morning and Afternoon). I was doing well in terms of income from the onset, but I was carried away by my little found success that I failed to abide by the golden rule - SAVE!!! Although I paid up my debt within the first three months of the business, I spent virtually all I earned thereafter.
The lessons I learned was that no matter how successful you are in business, always save more than you spend. Your business depends very much on it.