Is business failure the worst thing that could happen to you? Fortunately the answer is: NO.
If the above describes your current experience to perfection, and if a mixture of feelings such as frustration, despair, discouragement and some anger with yourself also invades you, then this post is for you.
I will start by citing two important examples that have personally helped me keep calm and my vision when business doesn’t seem to be going well. And if it is any consolation, I can confess that I am also on the list of people who sometimes things have not gone well at all.
Donald Trump Case: Real Estate Investments.
Known as “the wizard of public relations,” Donald Trump has built one of the largest real estate empires in the world. However, few people know that Donald Trump in the beginning he had great setbacks.
It is said that at the beginning of the 90s, after several failures in their projects and investments, the companies of the Trump corporation were on the verge of bankruptcy with debts that exceeded $ 1000 million dollars !! You can imagine it ?
However, the story has an ending that allows us to learn great lessons. First, after an extensive and necessary restructuring of liabilities, Mr. Trump managed to regain credibility, get new investors, clean up his companies and get back on his feet.
The rest is known history. Today Donald Trump remains one of the most respected and recognized real estate moguls in the business with a personal fortune estimated at $ 2.7 billion.
Robert Kiysaki Case: Wallets for Sufists
Another interesting case to analyze is that of the famous millionaire investor Robert Kiyosaki who in his book “The Money Flow Quadrant” tells one of his business experiences that also shows that debts are not the end of your business.
Having grown up on the beaches of Hawaii, in 1977 he started the assembly of an accessories factory for Surfing fans, runners and athletes in general. The product was basically a small nylon bag in bright colors that was very popular.
The business was phenomenal and his profits were too. Everything was going great until suddenly, business went adrift. The reason? Countries like Taiwan, Korea and Hong Kong began to manufacture and export by millions the same type of accessories that Kiyosaki manufactured and their sale prices were incredibly well below their manufacturing costs.
So Robert’s company had only two alternatives: to compete against them (something that was virtually impossible and meant bankruptcy) or to join them with the eastern manufacturers. The second was the choice of partners.
However, the conditions were no longer the same, and although there were substantial profits, the work culture and the treatment of people made that after a little time Robert Kiyosaki lose enthusiasm with this type of company.
In his own words “my heart was no longer in the business and the business began to sink. His spirit began to leave because mine was also gone. I didn’t want to be rich if it meant exploiting so many low-paid workers. “Finally the company disappeared.
Debt is not the end of your business
As I have mentioned countless times on this blog, it takes a lot of courage, courage and fortitude to start a business. Success is not a magic bullet but the result of hard work and constant mending. [Twitear]
However, the fact that eventually things don’t go according to plan or that circumstances may change does not make you a loser.
I decided to write this post to encourage and guide many entrepreneurs that I know that like me, at some point they have felt the despair of not knowing how to get up.
In the second part I will share some practical tips to get out of debt, restore your business and above all, restore your Entrepreneurial Spirit and move on.
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