Turning My Dumb Idea Into a Thriving Investment Business
Farewell, Charlie
In 1993 I made my first investment, embarking on an exhilarating journey. But within months, it became apparent that the business was floundering due to my misguided decision to be the CEO. After the co-founder resigned, stating, "I can’t work for you. I quit," I found myself in a windowless sublet office, $125k in the hole. I had yet to stay true to my original idea and had mistakenly assumed the CEO role.
A Second Chance
In a twist of fate, a new entrepreneur took over the failing business within an hour, transforming it into a thriving professional services analytics company. Over the next five years, the business grew to an impressive $7 million in sales.
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The Road to Clarity
Through these trials, my vision crystallized. I built my reputation around this business model and continued investing. Although the first business eventually found its footing, it still required significant capital. The next three investments faced various challenges – a mismatched founder, an unsuitable market, and a near-failure saved by a $4.5 million sale. Finally, the fifth startup became a resounding success, bringing my personal vision to life.
The Power of Action
All of this was possible because I took the leap and made that initial investment. I discovered that taking the first step and consistently acting with a focused vision generates momentum that leads to even greater action. Ultimately, this commitment to action paves the way for success.
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Acting with a focused vision generates momentum that leads to even greater action. Ultimately, this commitment to action paves the way for success.