4 ms·
How I lost my first pension: I built an invoicing system for a friend's phone repair business that I licenced for a modest monthly fee. Over the next 10 years I
by pgt 4y ago
How I lost my first pension: I built an invoicing system for a friend's phone repair business that I licenced for a modest monthly fee. Over the next 10 years I gradually added more features as the business grew to 36 retail stores and built the product into a proper ERP system, rewriting it twice to keep up with new requirements. Eventually I sold the IP to them for cash and stock and became CTO at 27. It was a fun, but difficult time.
Unfortunately, the founder raised way too much money on unfavourable terms and hired the wrong people, which forced the company to expand at an unsustainable rate and drove all the good people away. The company overextended itself and entered business rescue soon thereafter. The company is now a former shell of itself, but my product handled millions of rands and over 500,000 repairs. What I lost in a pension, I gained in an MBA.