There's not much to it. I started an online "virtual helpdesk" company. The first company I got in signed a contract and promptly went bust after I'd spend all the incoming cash on marketing to get other companies in. It plummeted into debt and I folded it.

The sickening bit was to offset the debt, I sold the codebase to another company which did quite well out of it. They offered to hire me in but I couldn't face it.