Resume of Failures
Ken Endelman was an industrial arts major who had the privilege of attending two different high schools upon the recommendation of the Boys Vice Principle of the first school. He had a 4.0 average in all his Auto shop and print shop classes. His superior auto shop skills were able to be leveraged to earn passing grades in his French class as the teacher needed work on her KarminGhia. He managed to get into Pierce Community College in Woodland Hills where it took him a little over two years to get his AA. After which he got into UCLA where after a little over 2.5 years he earned his BS in Political Science.
1992- 1996 – Cofounded Polestar Pilates and walked away from it in 1996. The company is still in action today.
1990 – Cofounder of the Pilates Institute in New Mexico. Partnership failed within a year, I was forced out and had my ownership dissolved.
1976-1990 – Current Concepts (Balanced Body) couldn’t afford to pay me a salary and only survived by living off of wife’s wages.
1983-1985 – Distribution business with the contract Northern California for Piacere (with pleasure in Italian) Coffee Company. Sold distribution back to the company with pleasure.
1979-1981 – Built “Authentic” Italian coffee carts for ABC Coffee in Sylmar, California
1975-1976 – Liquid Sleep interiors – Failed partnership and couldn’t figure out how to make any money. Led to introduction to the Pilates community after selling share to partner for a small amount.
1973 – Employee at Interspace water beds -Lasted 6 months, company went bankrupt.
1968 – Employee at Clarks Autoparts – Fired after two months for being in two auto accidents in company vehicles in two months.
1962 – Failed Guppy fish selling business. Water evaporated before anyone was found to purchase.
Biggest Mistakes Made
2012 – Allegro 2 launched in November, and we could not get the supply chain fixed well enough to ship consistently until 6 months to a year later.
2011 – Purchased ‘CoreRunner’ from inventor Jonathon Hoffman lost over 100k in R&D and other operational costs as well as harming our relationship with a friend and client before realizing that the product wasn’t a good fit for us, and could be a liability.
2003 – Developed a product line based on the demands of a particular client, and sunk a lot of money into it before realizing the market was not large enough to make it back.
1998 – Poor inventory control led to dangerously high inventories which put us out of compliance with our loan covenents.
1992 – 1996 – Hired many people to keep up with demand, but it took nearly 10 years to actually get rid of many of the people that should not have been hired in the first place.
1991 – Tubular Steel Studio Reformer released at the same time and had the same problem but for professional use.
1991 – Created the personal reformer was aiming to create a reformer that would be able to sell to home users for under $500. We ended up having it cost over $500 and could only sell it for $899 with too low of margins for distributions channels.
1980-1992 – Continued to make waterbeds in parallel with the Pilates Equipment and it didn’t make enough money to cover the opportunity cost.