When I was discharged from the army (something we all have to do in Israel) I started my first business. I was working as a cook at the time and making 1900 ILS, shockingly it was considered a good paycheck in 1995.
I was convinced that I could make more money on my own. So I started a small flyer distribution company. The first month was weak, I only made 200 ILS. Working with one customer and doing everything by myself. By the end of the first year, I had 15 people working for me and was making over 40k a month gross. But I didn’t know how to manage my money.
The result was twelve years of debt. It was harder than I can explain. Having my bank account frozen, having my home broken into and my stuff repossessed. And just not having any stability. Not knowing if this month’s pay would allow me to pay my bills or if some lawyer would take it.
I finished paying off all my debt, and it does feel like I just got out of jail. A jail that was in my own mind. My point is that having gone through that I feel more confident in myself. I don’t recommend you try it. But I do recommend you pay for the small mistakes you make. Hoping that doing so will teach you just how much it sucks. Hopefully, that will keep you out of trouble.
I hope you found this post helpful, if so like it and share it with your friends. And while you’re at it, check out my ebook ‘level up your business’ a guide to starting your own business the right way.