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I paid $75,000 for this lesson, but you’re getting it FREE.
THREAD: A tactical approach for turning losses into wins.
THREAD: A tactical approach for turning losses into wins.
Whether business, life, or sports owning a method for handling losses is required as they’re inevitable.
Every loss is an inflection point - good or bad, is determined by the strategy.
With process, I turned a big L into a W, and created a recipe I’ll use for life.
Every loss is an inflection point - good or bad, is determined by the strategy.
With process, I turned a big L into a W, and created a recipe I’ll use for life.
So, how did I earn this $75K Lesson?
At 23, my 2nd year in business, a banker on his way out, enrolled us in an "Express Lending Program"
Fancy talk for 9% interest rate for a barely-bankable company.
At 23, my 2nd year in business, a banker on his way out, enrolled us in an "Express Lending Program"
Fancy talk for 9% interest rate for a barely-bankable company.
Ambitious, young, and inexperienced is a dangerous combination.
Viewing the loan as growth capital, I pitched my partners on hiring an agency to run ads.
In storage, ads are expensive, sometimes $20/ click.
Strategy lacking, it wasn’t long before the $75K was gone.
Viewing the loan as growth capital, I pitched my partners on hiring an agency to run ads.
In storage, ads are expensive, sometimes $20/ click.
Strategy lacking, it wasn’t long before the $75K was gone.
After personally guaranteeing the loan and driving my company to near extinction - I had a choice:
1. Bankruptcy & back to the cube
2. Learn a skill & climb out
So, I learned to turn Ls into Ws..
1. Bankruptcy & back to the cube
2. Learn a skill & climb out
So, I learned to turn Ls into Ws..
Here's the process:
Step 1: Avoid compounding
Step 2: Identify & learn skills
Step 3: Disassociate from Identity
Let’s break it down…
Step 1: Avoid compounding
Step 2: Identify & learn skills
Step 3: Disassociate from Identity
Let’s break it down…
Avoid Compounding:
Post mistake, focus attention to understanding the root cause - usually an emphasis on outcome > process is the culprit.
A humbling, but necessary first step to correct course.
Post mistake, focus attention to understanding the root cause - usually an emphasis on outcome > process is the culprit.
A humbling, but necessary first step to correct course.
Identify & Learn Skills:
Bad situations are a function of lacking - either skillset or knowledge.
What skills would have prevented this situation?
Once identified, start learning and APPLYING new skills immediately.
Bad situations are a function of lacking - either skillset or knowledge.
What skills would have prevented this situation?
Once identified, start learning and APPLYING new skills immediately.
Dissociate from Identity:
The ego is fragile - one loss can prevent future success if not dealt with appropriately.
View it as a standalone event - and promise to be more methodical in the future.
Then move on.
The ego is fragile - one loss can prevent future success if not dealt with appropriately.
View it as a standalone event - and promise to be more methodical in the future.
Then move on.
So, how did this become a big win?
After going through this process I realized what I was lacking:
Digital marketing skillet set that creates long term asset value.
I identified SEO.
Within 4-months of applying new skills, customers started rolling in.
After going through this process I realized what I was lacking:
Digital marketing skillet set that creates long term asset value.
I identified SEO.
Within 4-months of applying new skills, customers started rolling in.
We’ve since grown to millions in revenue without paid ads!
Better yet, I decided to sell my newfound knowledge to others. I created Bright Line Media, my SEO company, changing my life and giving my family financial freedom.
Better yet, I decided to sell my newfound knowledge to others. I created Bright Line Media, my SEO company, changing my life and giving my family financial freedom.
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Follow me @barrettjoneill for more content on business, growth, and SEO.
Follow me @barrettjoneill for more content on business, growth, and SEO.
