|“Bad shit is coming. It always is in a startup. The odds of getting from launch to liquidity without some kind of disaster happening are one in a thousand. So don’t get demoralized.” –Paul Graham, co-founder of Y Combinator
Greetings from Sunset del Mar Resort, Costa Rica. Today is day 2 of this new email series I told you about yesterday… where I’ll be sharing my advice for free in 3 areas:
1.) Starting a business
2.) Scaling a business
3.) Growing your wealth
Everything I share with you in these emails comes from experience and making a lot of mistakes in my own business ventures.
It’s not just stuff I heard other business gurus say, which I’m regurgitating.
The other day I was speaking on stage here at the resort during a Titanium Mastermind, and someone asked me about the challenges of buliding a business.
I responded, “do you want to hear about the normal challenges I’ve had, or the major catastrophes which come along every 90 days?”
Of course, they wanted to hear about the latter.
So I told them about 3 of them (there are many more) which literally cost me millions of dollars.
One was having too few merchant accounts back in 2015, having one of them suspended, and then having just over $1m usd locked up for 19 months.
Another was hiring the wrong person, who then stole all of my intellectual property and became a competitor hellbent on trying to put me out of business – which has led to me filing a major lawsuit against them.
A more recent one, was hiring the wrong team to oversee the multi-million dollar renovation of my resort, who were making side deals on just about every purchase.
I explained to everyone that if they wanted to build a big business; they’d need to pay for some very expensive lessons along the way.
The important thing is you learn fast and don’t repeat the same mistakes (and I’ll admit, sometimes I’ve been a slow learner!).
Each time you learn the lessons, you’re able to scale to the next level. Business really is just a series of challenges put in front of you, which you’ve got to figure out how to solve.
When you solve them, you get paid. Lets get into todays training…