Every entrepreneur begins their journey with the desire to be their own boss and to make a ton of money. There’s no denial of that when every entrepreneur says that overtly or passively in interviews, conversations with friends, and on Knucklehead Podcast episodes. But to paraphrase Uncle Ben from Spiderman, where great power comes great responsibility, the desire for a wealthy life demands the greatest knowledge, due to the fact that the lack of financial knowledge can lead to the greatest suffering ever known.
And when this does happen to the aspiring entrepreneur, it is often the greatest failure that many do not come back from, because the costs end up being so great. But every once in a while, there are always a token few that emerge from the failure to become ultimately successful like any good Knucklehead out there in this world.
Enter Rusty Jensen, Vice President of Revenue Generation at NICE-inContract. Before he was overseeing the channel and sales development organizations for all of North America, Rusty once make a fatal mistake in his entrepreneurial journey: not having a clue in financial knowledge while borrowing $100,000. While borrowing is normal in the entrepreneurial and business world, not having any sort of experience is the equivalent of going into a professional sports league without any remote experience as Rusty would say.
Without any knowledge of what to do and how to execute, but with a perceived idea of what to do, Rusty used all $100,000 to invest in others then the remaining to build his business, ultimately failing in the process. What made it even worse was that he lost all that money through that particular failure.
How would you ultimately feel if the individual that borrowed hundreds of thousands of dollars from you, lost it all from a major failure?
Don’t be a beta about the process and tune into this raw episode about how Rusty Jensen lost six figures from entrepreneurial endeavor, then proceeded to leverage that situation to get promoted 8 times at a company that recently got acquired.
You will not want to stop listening when this episode starts playing!