Best Of Preston: Inspiration: Giving Yourself a Second Chance

debt issues preston bailey blog

debt issues preston bailey blog

Happy Wednesday, everyone!

I have just returned from giving a speech in Columbia, SC.  I loved being there and cannot wait to tell you more about the experience on Friday.
Today, I want to talk about the wonderful blessing that comes with connecting with my fellow vendors.  Nothing beats coming across a fountain of knowledge, and that is exactly what I feel my colleagues provide me.  I am so fortunate to have the opportunity to hear about both their triumphs and frustrations.  In a way, I believe we are all in the same boat.  We are all working to acquire and service clients and make a living.
It is no secret that when I started many years ago, I was not charging properly for my services.  I was over a million dollars in debt which was directly threatening the fate of my company.  It was not until I committed to making a few very specific changes that I was able to to pay off the overwhelming debt.  It took me 4 years, but I did it.
I wanted to share the changes I made with all of you with the hope that you might use the information to your advantage.
1. I started to sell more services to my already established client base.
2. I was very specific in targeting new customers in new areas.
3. I became very dedicated to making more sales.
4. I began to use technology to my advantage (Website, Twitter and Facebook).
Lastly and most importantly, I dedicated myself to change.  I have learned to put my ego aside and accept that I don’t always know what the right thing to do is.  I try things, and if it is successful, great, but if it is not working, I switch it up and do something different.
I shared my story with others at the event and spoke with a talented photographer who confessed that he has also acquired a million dollar debt at one point in his career and took great care to pay it off in full in three years.
I believe that we all need a good, inspirational story once in a while.  We need to speak to others who have been where we are and have found a way out.  If you are one of those who managed to pay down your debts, please inspire others by sharing your story with us.  Tell us how you did it and how you’re doing now!
(Photo courtesy of Flickr)