I started a Wordpress consultancy with a couple of friends. The idea was to eventually transition into a proper design agency that can also code.
One friend was part-time and did only design because he didn't know how to code. The other friend never did any work at all so I ended up having to do almost everything, which wasn't really that much anyway since we only had a handful of customers.
Eventually one of those customers led to a full time gig so I shut the whole thing down.
There were many lessons but the main lesson was that you cannot rely on a person's word.