Have You Ever Hit Rock Bottom? I Did.

Tue, Feb 1, 2011

Inspiration

My latest and greatest business just failed. I couldn’t get off the couch. I was spending the last of my kid’s communion money. All my savings was gone. My credit cards were maxed out. My house was being repossessed by the bank. And I was $200,000 in debt from money I borrowed to keep my business afloat.

My three brothers and sister

I remember this day like it was yesterday. My wife’s family was having a picnic in Letchworth State Park which is about an hour from us. We all set up the picnic under one of those covered areas. After that, all the kids went off to the pool. I told my wife I was going to take a walk.

In this park is a huge gorge. You can walk along it and with no trouble fall over and kill yourself. That though was dominant in my mind as I walked. I looked down with fear and guilt.  I had my last $20 in my pocket and I had no idea what I was going to do to make money. Tomorrow was Monday and I had no plan. I had no job prospects, no new business prospects. I was riddled with guilt with what I put my family through.

I was the only one that really knew my situation. My wife didn’t even know. My brothers, sister and my parents had no idea. I’m the positive one. I’m the one that always bounced back. I’m the oldest of 5 and suppose to be in control of my destiny.

I’ve started 33 companies and I think this was around the 25th or so and I always was able to bounce back quickly. I wasn’t able to this time. I bet the whole enchilada on this last company and it failed miserably.

I had NO back-up plan. I had no secret stash. I had only the $20 in my pocket.

The good news is that I didn’t jump. What happened in the following 2 weeks is still a blur to me. I don’t know how I survived with only the $20 bucks. I went out and talked with other business people and asked if they were ever hit rock bottom. I was surprised. Everyone had a story for me. I started to own my misfortune. Lou Bivona told me to wear my bankruptcy as a badge of courage. I started to talk about it. My confidence was coming back.

And that’s all it is, it’s your belief and confidence in yourself–PERIOD!

I’m happy to say that I started contacting companies and did what I did best and that was showing them how to get customers in their doors with direct response marketing. And that’s what I do now, only it’s just with dry cleaners like you now.

If you’ve hit rock bottom, you understand what I went through. If you never have, I hope you don’t. Just understand this:

If you never ever give up, you’ll always succeed. It’ a universal law.

I hope you enjoyed this. If you’ve got a rock-bottom story please comment below. I’d love to hear about it. It’s good for all of our souls.

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9 Responses to “Have You Ever Hit Rock Bottom? I Did.”

  1. HP Says:

    That is a very true and familiar story to me. I am interested in your new book. Your system is too expensive for my blood right now. I lost it all in Real Estate and i am trying to recover in this mobile dry cleaning business. Can you contact me if you have another solution or a monthly situation for your system instead of one payment or 3 payments.

  2. Greg Says:

    Call me and let’s work something out. 888-661-7992

  3. Hogan Says:

    Hi Greg,
    I feel your story and I like your marketing approach. Just like many other people, I invested my hard earned money heavily in stock market and currency trading, hopping a triple financial return. I lost all my money. I had only $200 in the bank just to keep the account open and I felt lost, lack of energy and uncertainty about the future.
    Thank you for your email,
    Hogan

  4. Greg Says:

    Hogan–I hope things are going good now. I’ve been humbled and beat up just like you. It makes up better persons. I wouldn’t ever change what happened to me. Use it to make you a better person. I know it helped me. Hope all is well.

  5. Jennifer Edney Says:

    Hello, my name is Jennifer and I am the Administrative assistant at Great Plains Hanger & Supply Co. in Omaha, Nebraska. This company use to be in business from 09 until 2010, early 2011 maybe. Our plant is very large and they use to draw their own wire here, made painted hangers, and strut hangers. They had around 33 employees and ran 3 shifts. The main owner seemed to be doing well but he was doing bad business. His ethics sucked and he ruined the business name and ruined all business relations. We re-opened in May of 2012 under different management, owners, employees, name, and our products. We still manufacture metal hangers, but only galvanized steel hangers, strut hangers, suit, shirt, and soon caped as well. We also sell poly-garment bags and chemicals for dry-cleaning. This product is very competitevly priced, eco-friendly, asthetically beautiful finish, won’t rust and it’s made here in the United States!!! We have a great product, service and integrity, we just need help getting them out there and mking the sales!! HELP please

    Thank-you,
    a desperate Jennifer

  6. Greg Says:

    Thanks for reaching out Jennifer. Call me @ 1-888-661-7992 and let’s see if we can come up something for my members of 400+ dry cleaners.

  7. Steve Ahmed Says:

    I have been in dry cleaning for 20 years and have been very complacent and think I know everything there is to know about cleaning clothes. I have a handful of route customers which have come from the shops. Last year I took on a small production plant and worked from there to service the shops thinking that it would make my life easier.
    BIGGEST MISTAKE I’VE MADE
    I am running around like a headless chicken now between all the sites, have had to increase staff, work quality has also suffered and from being in profit and NEVER needing to use an overdraft facility from the banks I am in debt by approx £50,000 and this is increasing by £6000 per month. At this stage I struggle to make fixed costs(rent/rates)and pay staff wages. NEED HELP

  8. Greg Says:

    Steve–I feel your pain. I’ve been there before in another business (actually a few businesses). Everything looks bleak. There seems to be no light at the end of the tunnel. Hold on! There is hope. You’re in the middle of this whole mess and you can’t see how to get out. That’s why I have a consultant I pay $500 a month to just to talk for one hour every month. He can see things that I can’t see.

    I can see things in our business that you can’t see. I can tell you what to do. Call me and let’s talk. You can reach me @ 585-496-4709.

    I look forward to hearing from you.

  9. emeka ezike Says:

    Hi Greg, I have been following your mails and write up for some time now,I have mailed you twice this year when you were organising your training. I have been in drycleaning for about 3 years now, and I’m at the brink of closing the business.

    I need new ideas and strategies to survive the competition, Drycleaning business is big business here, if you can help me I will really appreciate it.

    Regards


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