He had just started his own business and was on top of the world. Fueled by excitement and ego, he thought the money would never run dry.
He was spending large and living even bigger.
But this was 1986. And Australia was experiencing one of the worse economic recessions in its history. He lost everything.
While his millions evaporated overnight, he regards this painful experience as the best business education he could have invested in.
Here’s what he told me.
No one is coming to save you.
He took the heavy loss on the chin. Dusted himself off. Wiped the blood and tears away and started again.
He never made any excuses. Blamed anyone else. Or played the victim. He just got on with it again.
He accepted no one can save you but you.
We are living in a time when anyone can play the victim. Throwing blame at politicians, the economy, interest rates, whatever it is.
If your entire life can be turned upside down by a change in a few percentage points or a politician, you’ve built a life on a house of cards.
This is good news. The competition is extremely low. While most people are wasting energy complaining, you’re getting on with it.