How Losing $40,000 made me $200 MillionApr 13, 2023
I had $40,000 worth of goods stolen from me...
...and I was able to learn one of the greatest lessons from it that made me over $200 Million!
I had $40,000 worth of product being shipped into the United States and someone had just taken it all away.
But you know what? Them stealing it will hurt them MORE than it will hurt me!
Why? Because I had a plan. At my company Zulay Kitchen, we set a goal of making $40,000 per year from every single product we launch. So, simply, I launched two new products to make up for that loss.
I refused to let this setback define me, and I was determined to keep pushing forward.
In fact, that loss became a catalyst for me to launch even more products. I refused to let fear dictate my actions and I was going to make sure that we could weather any storm or criminal that came our way.
Don't get me wrong, losing $40,000 SUCKS! But instead of wallowing in the loss of it and going more and more into fear and apathy about business, it made me realize that I was building something way bigger than any single loss. I was building a business that would outlast any future hardships.
And that's the thing about setbacks – they can either break you or make you stronger. They can either make you give up or motivate you to try even harder. In my case, losing that $40,000 taught me a valuable lesson about the importance of security and better systems. It made me more determined than ever to succeed.
Now, I'm not saying that setbacks don't hurt – they do. But the point is, it's all about perspective. You can either let them cripple you or use them as an opportunity to grow and learn.
For me, that $40,000 loss was a small price to pay to realize the bigger picture. I had been able to put Zulay Kitchen into a position where someone could steal $40,000 from us and it wouldn't destroy my business or life.
So my advice from this lesson - you need to be willing to take risks and embrace the possibility of failure. Of course, there will be losses along the way, but you need to make sure that your wins are much bigger than any losses.
Don't let fear, or the possibility of something unknown, dictate your actions. Embrace the possibility of failure and use setbacks as opportunities to learn and grow. And most importantly, keep going, no matter what! That's the only thing that separates successful entrepreneurs from the ones who never make it - they stay in the fight!
Setbacks/losses/stumbles are all just temporary. As cliche as it sounds, what really matters is your attitude and your ability to bounce back. So, don't let setbacks define you. Keep moving forward, and you'll eventually reach your goals – no matter how many setbacks you encounter along the way.