Six years ago, I lost my entire savings and stock portfolio. Although I was a registered, seasoned, and proficient stockbroker, I somehow managed to lose 100% of my portfolio in the 2008 recession. So much for experience and education, right?
Between 2002 and 2007, I was retired, living off the appreciation of my stock portfolio. In 2008, not only was I insolvent, but I also owed Uncle Sam a few hundred thousand in taxes. I wished not return to the stock business—my only profession--as the OTC market spreads and laws changed significantly; thus pay was compromised.
I was at my bottom: No support, no liquidity, as hopelessness entrenched my soul. Sound familiar?
One day, I thought: Why don’t I pitch small businesses to augment revenue on a sliding scale commensurate with my compensation. But, what experience did I have in “augmenting revenue” with industries I was not familiar. I recall clearly ALL the naysayers saying “Hey, that is a stupid idea,” “What do you know about businesses’ bottom line,” “You have no experience, what are you doing?” I heard it all. And the more negative feedback I received, the greater my motivation grew, specifically to prove the naysayers wrong. The motivation transmuted to an unwavering conviction that I would prosper, irrespective of the potential challenges.
The first business that I closed was a cell phone store. That is right, a cell phone store: What did I know about cell phones? I had no liquidity, thus unable to hire cold callers. I cold-called myself: “Pete, come into the store; we are running a promo …” I called 10 –hours a day and scheduled 10+ appointments a day. In 120 days, store sales doubled, as I took 25% of the company stock, and royalties with each phone sale, as agreed. I eventually hired 10 telemarketers, and in 2011, the store’s volume was second largest in the Brooklyn area.
Since, I have entered into agreements with over 12 companies; four of which are now publicly traded instruments, and have value only because of the revenue growth engendered by my efforts. Ironically, three of these publicly traded companies are self start-ups in the debt, real estate, and merchant processing areas—all areas in which I had no previous experience or education. I learned the trades proficiently as demand for my services grew. My clients are happy evidenced by repeat business and their referrals.
The difference between you and I; the naysayers motivated me. If you are looking to find support to quit, you will easily find it everywhere. Society is replete with opinions on each end of the spectrum. And as you look, so shall you find! I invested my time into you. Perhaps, I should have qualified your fortitude better before engaging. I asked you to name five improvements in the foregoing website; you mentioned only one. You have no conviction in this venture, so I am respectfully going to eject. As much as I would like to help you, too much of my time, which I have very little of, is committed to change your thinking, which remains resolute in your homeostatic condition.