Everything I listed above is true, but here’s a little more context:

➤ One of my exits was for only $50k

• Nothing to sneeze at, but certainly not life changing money.

➤ Another of my exits was for multiple millions, but the business still had significant debt

• High six figures of debt for inventory costs
  Plus, the sale of the company wasn’t all cash, so this is paid slowly over time.

➤ Most of the $29M in revenue I generated I didn’t get to keep.

• I’m quite proud of the revenue accomplishment, but unfortunately my savings account didn’t see much of it because I spent most of it on various business expenses.
• I thought I was doing the smart thing by “reinvesting profits back into the business”, like I’ve been told. But what they don’t tell you is that, if you’re not careful how you spend that money, you could end up effectively just tossing that money in the trash. Which is what I did.
• For example, in just one year alone, I spent over $1M on payroll for employees that did not directly contribute to growing the business at all (It wasn’t their fault…it was mine…lessons learned).