I went to see a talk Monday afternoon by eccentric entrepreneur James Altuchar. I have followed him for a couple of years online as I really like his honest open style. He is fairly low profile so you probably have not heard of him unless you were on the end of his annoying adverts for Bit Coin.
In his talk he went through his life story. At the start of the internet era he set up, grew and sold his website design business for $15 million. However, despite this success his big spending habits meant only a few years later he was bankcrupt with $143 in his bank account….ouch!
He then set back out to work and eventually made enough money to start investing in companies. He went on to sell his ownership in StockPickr for $10 million. He was back in the big time but he didn’t quite learn from his mistakes as he spent too much on investments and over leveraged himself… the result was another bankruptcy…. ouch once again!
He talked about how he contemplated suicide, with no money left he felt that his only solution was to take his own life so his family would get his $4 million life insurance policy. It was an interesting insight into what goes through your mind in such a situation. He didn’t follow through with it of course and he bounced back by writing and selling books.
It was an enjoyable talk, I took two main things from it that could be applied to health and fitness.
Perseverance – The way he got back up after a couple of devastating failures highlighted the power of continuing towards a goal. This was reminiscent of someone who got to their goal body shape only to put all their weight back on. It was only his third time of making money that he has actually kept it for a long period. This could be the same for you, just because you got to your goal before and then lost those results it does not mean this will always repeat itself. What if next time you pull all your learning from the past together and not just achieve your goal body but hold it forever afterwards?
Daily Action – In explaining how he got back on his feet he repeatedly spoke about taking daily actions in any endeavour he wanted to start. This could be studying coding, his writing or learning business skills. The emphasis was on working a little every single day which over time creates something great. This was also the key point behind The Talent Code Book which I reviewed a few weeks ago.
Photo – The Talk on Monday which was held in the Comedy Store. To hear a brief version of James Altuchar’s life story watch the video below – .