Failing in the math business was a long, slow event for me. When I left off part one of my story about how I failed in the math business, my friendly banker had seized my assets that were intended for me to support my family. It was terrifying, probably illegal and I can’t blame the bank for what they did.
It’s funny how things work. When I began my “all-in” year in the math business, I told myself that if I hadn’t reached a certain point by August of 2010, I’d go back into the medical device business where I’d already earned more than eight figures in my career. I thought it would be easy to go back and I believe this fallback mentality impacted my success. Or, lack of success.
Sightpath Medical
At my darkest hour, I received a call from the EVP of Sightpath Medical, Jim Feinstein. I didn’t know Jim well but had been introduced to him on multiple occasions when he was the Regional Vice-President for LVCI. Jim asked me out to lunch, I accepted, and soon Jim offered me a position as Vice President of Sales for Sightpath Medical. It was an excellent fit for all parties because I knew the business, was immediately useful and required no training.
I am grateful that Jim offered me this opportunity and it worked out well for all concerned. I still work there today and serve as the Executive Vice President of Sales and Marketing. Jim Feinstein left Sightpath eight months after I started working there.
Working a Side Hustle
When I began at Sightpath, I still owned the math business and worked on it at night and weekends. I was learning a lot, enjoying myself but now had no money to invest in the firm. As a result, I had to take Mic Tienken’s advice and do the work.
Also, working a side hustle in a math business called IPMG Software gave me a certain street credibility when talking about digital marketing, product development, and strategy. After all, I had an incubator where I could try things, see what happened and Sightpath received the benefit of my learnings.
As an example, we needed a way to illustrate a business case to facilities and doctors. Our strategy was to develop and app for the iPads our reps were already carrying to make this easy. I knew how to develop apps, and we quickly had this tool in our team’s hands.
A Lifelong Learner
It’s funny, when people found out I owned a math game software business, I got some raised eyebrows. People made some assumptions, and it was an excellent conversation starter. What is also true is that I am a lifelong learner and enjoyed the time I spent in the math business.
Plus, the software we developed, the Tic Tac Math series of apps, helps kids learn math. And it helps them have a positive relationship with math, too. When I allow myself a few moments of “coulda-shoulda-woulda,” I wonder, “What if Tic Tac Math were the one picked for the TV Ad instead of Chalkboard?” Who knows? Luckily, I don’t live my life in the rearview mirror.
Keeping Things Moving
For five years, I gave everything I had to Sightpath and worked on IPMG whenever time permitted. Which, was less-and-less as the months passed. I was watching the expenses continue to creep, and the revenue continues to erode due to a lack of effort on my part. I continued to invest what I could, but IPMG was losing money each year.
At Sightpath, I was working on my passion. With IPMG, I was chasing a ghost.
A Decision to Sell is Different Than Quitting
In Fall of 2015, I made the decision to sell IPMG Software. I knew I had to because the way things were going, it was going to either break me or die a slow death. Neither option seemed right given all I put into it over the years.
IPMG had assets and my goal was to find a buyer.
Finding a Suitable Partner
Around this time, I read an excellent strategy book called: Edge Strategy: A New Mindset for Profitable Growth
. This book influenced my thinking and caused me to get in touch with the owner of abcya.com, an educational website. My discussions with Alan Tortalani were informative and unsuccessful.
What I learned was that it was necessary to find the right person because I owned a unique mix of software and math game content. Mountains of it, in fact. In the right hands, content can drive the marketing efforts when put together with a good story.
I kept searching for the right person or company via emails, online searches, and even a small business auction site. Nothing was working.
A Happy Ending to the Story with Mathgeekmama.com
In July of 2016, using the SEMrush.com software platform, I began looking at a math teaching site called, mathgeekmama.com. The traffic on this new site was growing fast and the owner, Bethany Lake, displayed a passion for mathematics teaching and the math business.
In October, I sent Bethany an email, she responded, we corresponded for a couple of months and on December 15, 2016, Mathgeekmama.com, LLC acquired the assets of IPMG Software.
If you like math games, have a child who needs help with math or just want to check out someone who has a sincere passion for what she is doing, look at Bethany’s site. Her goal is to build a business that produces enough revenue that allows she and her family to serve others and help kids get better at math, too.
Finally, as I look back on twelve years in the math business, I didn’t fail. I failed at times and that’s the thing. You see, I learned failure only happens if it grinds something to a halt. And that, in my experience, is a choice. I made the decision many times to simply nudge along to the next thing. I’m still hopeful with the Impartio Books Program, but it’s on life-support for sure!
Like so many things, it’s easy to be hard on myself with the benefit of hindsight. What’s also true is that I believe with all of my heart in God’s providence for my life. In the end, everything worked out well and I am humbled by the outcome.