I recently came across this story of a guy name Charles J Phua which i resonated alot. Being a business owner for both online and offline venture, some of the most tubulant time for us young entrepreneur can be the most testing time of all. From his story below, he tells us one of the most important skill he gained that elevate him from the down time.
Even with a University degree, the best job I could find after 4 years of higher education was a Marketing Manager in a restaurant,. and not earning a very good living as a result. It was depressing and frustrating, at that time I wanted more for my parents, frankly, our family deserved better.
At the age of 17, I started my first mini-entrepreneur venture, sourcing on Alibaba.com, buying low and selling high, from novelty products, trading electronics to selling magic tricks (mainly to impress the ladies) and Pet Plants, key-chains that has little live plants in a tiny bottle. I managed to make a reasonable sum of money (average $3000 monthly) during college.
After graduation, I worked in marketing at a fine dining restaurant while looking for opportunities and later on, I somehow landed into a Network Marketing company that sells magnetic beds and other ‘revolutionary’ health products. During my early days, I was a terriblesalesman due to my introvert nature but I was able to influence and at one point, successfully grew our team of 3 to 54 people.
With the money I saved from my direct sales stint, along with various loans and several private investors, I had $250,000 to fund my business. It’s time for me to take my place in the business world. Or so I thought…
YOUNG AND FOOLISH
Within the next twelve months, my business went bankrupt. The combination of dishonest partners and incompetence due to lack of business experience have drained the accounts dry. My dear fair-weathered partners left the company the very next day, literally, leaving behind with debts of over $100,000 mainly to bank loans and investors, all under my name. I kid you not.
Truth to be told, I was ignorant and too stubborn to find a mentor. I had the wrong thinking of “Build it and Customers Will Come” and I had no idea how to run a business much less on how to generate positive cash flow a.k.a SALES.
ALONE IN THE DARK
It was the darkest period of my life that lasted a year. Every day, creditors, investors, banks will never fail to keep my phone alive every 15 minutes. More than once I had contemplated suicide while staring out from my apartment window, trying to figure out how the hell am I going to pay back all these loans and dealing with crazy interests rates that is as high as 20% (That’s $20,000 monthly on top of $100,0000).
It was the most cowardly way out, just jumping off the building. But a thought crossed my mind, who’s going to take care of my ageing parents? They had such high hopes for me and this is how it all ends? I HAVE to figure my way out of this mess. Out of desperation, I search for something that can clear my debts and set me back on the path to better living…. and I found it.
LAST HOPE. ONLY CHANCE
I have discovered that SALES is the only thing that allows a business to keep growing and for a person to make a good living without limits. With every ounce of determination in my body, I decided that I have to learn everything about sales, how to close deals, how to get more leads, how to ensures there will always be new sales leads coming in while grooming current clients to buy More, reaching out to top sales people around and get an insight understanding what sales strategy wouldn’t and will work. There was no plan B for me, it’s Do or Die.
TOUGH TIMES DOESN’T LASTS. TOUGH PEOPLE DO.
Fast Forward, 6 months later. I have cleared ALL my debt, consistently ranked the Top Sales week after week and now brings home a nice 5-6 figure cheque every single month by simply implementing the Beyond Sales Strategy.
While this whole experience has been hellish, it also turns out to be a blessing in disguise as it made me a much stronger entrepreneur than i ever was and I learned some of the best Sales Techniques, System and Sales Strategies out there.
The Difference Was Unbelievable
That was almost 10 years ago and now for the last 5 years, I’ve been sharing powerful Sales and Marketing Strategies that I gained from my painful experience to help any individuals, company as a consultant, to grow their business with effective lead generation and sales/conversation methods, which can be used Online and Offline.