The end of my clothing brand

This post is for anyone that has a brand or wants to start one. please learn from my mistakes!My friend had came to me with the idea of starting a clothing brand with him. It was a 50/50 partnership. We came up with the name " phantasyclothing" at the time i liked the name. So I!!! saved up $500 to start the brand. I bought a heat press and shirts and printed our logo on them. on the release day we sold zero (mistake #1 believing my friends when they said they were gonna buy) this later motivated me to get my (our) brand out there. So I!! found ways to market the brand, and get it out there. When the brand was getting tens and hundreds of orders. I was the one that had to make them, ship them out and answer emails plus editing the website and handle returns, at this point it felt like a 70/30 partnership. over the months i was slowly ignoring my friend's ideas and designs and not telling him things that was going on with the brand for example posting a sale, borrowing 2k to put into the brand etc. (mistake #2 no communication with your business partner). Then comes our fall collection. i borrowed 2k to put into the brand to buy hoodies for the collection. I got in contact with a factory in Pakistan and asked for a sample and it turned out perfect. so i ordered 100 ( mistake # 3 not asking factories for multiple samples in all sizes) Welp the hoodies came and they were ALL WRONG. The colors were completely different from what i asked not only that, but more then half off the hood sizes fit really small. I released the hoodies anyways to at least make up what i borrowed. It didnt sell as expected. Now i owe 2k, but that wasn't the worst part... I got an email from from my website host saying that i BASICALLY need to pay my taxes from my previous year and a half, which is around 6k (mistake # 4 not reporting taxes or saving) during this time me and my friend weren't really good friends anymore. about 2 weeks ago i hit him up wanting to tell him that i want to leave the brand, and i made sure that we ended on a good note. present day my plan on paying taxes and paying my mother back is to set up a pre-order on our 2 most popular items. Which is a reflective jacket and biker jeans. I've learned so much from this experience like business, and myself as a person and i dont regret it.please feel free to ask me questions and i really hope this helps out anyone even if its just one person. via /r/streetwear http://ift.tt/25rgkLM