Crash and Burn in Business

I am definitely qualified to write about failure. Back in 2001 I was part of a company.  We had a penny stock and everyday was exciting. So many deals and potential. I had leveraged my self and put $500k into the company. We had a few issues to deal with typical of any company. We had investors lined up and stock people bugging us. Our biggest obstacle was we needed our stock to move up. Some days seemed like we were so close to success everyone could taste it. I was closing a $80k profit deal and we needed the deal. Driving to work one morning I got a phone call, that is how I learned 9/11 happened. At 24 years old I could not comprehend  how these two towers in New York changed my life for ever. I really do not sharing this, as I still have emotions in regards to this failure. There I was so naive to many things of the world and how interconnected it is. I thought 9/11 would be a quick bump in the road for a couple of days and back to business, instead the carpet was pulled out from under me. My $80k deal fell apart, The investors hide like coach roaches. Everyone was looking out for them selves. A few months Later things had not changed and I could not pay the office rent. Many good intentions turned into victims of employees and associates. The office was a ghost town. I soon had a $20k judgment for the office rent. I was selling all my properties. I owed 2.4 million dollars and the weight of the world hung heavy on my soul it was the lowest point in my life. I had risked it all and I was in over my head but I kept trying to salvage the dying beast.  I was soon in a $200k lawsuit. I had an employee and friend place a judgment on me. This ounce peaceful place became cut throat. It  finally took my mother to say, “It’s over son. It’s time to come home.”  I was so blinded by my problems I just could not see it. So I drove home with last $80 dollars in my pocket.  For many years my credit was shot and I had to deal with the side effects of creditors and a foreclosure.  On a positive note I never filed  for bankruptcy.

I’ll write more later how I dealt with creditors and moving forward.

 

 

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