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Sunday, July 14, 2024
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‘AMBITIOUS’ GUY RUSHES TO BUILD BUSINESSES, ENDS UP BANKRUPT

I’ve always been an ambitious guy. As a child, I dreamed of having my own business and making a lot of money.

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I was determined to make it happen, so I started working hard and saving up my money.

After army, I enrolled in uni with the intention of getting a degree in business. During my time in uni, I took classes that focused on entrepreneurship and business management.

I was determined to learn as much as I could so that I could start my own business as soon as possible

Once I graduated, I had saved up enough money to start a few businesses. I bought a few storefronts and started my own stores. I also bought a few websites and started my own online businesses.

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Things started going downhill

Unfortunately, things didn’t go as planned. After a few months, my businesses weren’t making enough money to sustain themselves.

I was quickly running out of money and I knew that I had to make some drastic changes.

I decided to take out a loan from the bank to give me some extra cash. I was sure that I could make the payments on time, but I was wrong.

I started to miss payments and eventually, I was unable to pay back the loan. I was declared bankrupt and all of my businesses were closed.

It was a very difficult time for me. I had to start over again and rebuild my life.

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Reflected and realised mistakes

I had to learn to manage my money better and I had to make smarter business decisions. I also had to accept failure and learn from my mistakes.

Most importantly, I learnt that I cannot be too over ambitious wanting to achieve so much in a short time.

Running businesses is a marathon and not a short sprint.

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