I love receiving all of your questions on Mondays. In a way, they also help me keep in touch with my own stuff and remind me not only to “talk the talk” but “walk the walk.”
I hope I responded to all your questions last week (if not, let me know). Among the many questions, dear Norah wanted to know about the most challenging obstacle I have faced in life and how I overcame it.
Looking back at my business life, the most challenging obstacle I overcame was 15 years ago: I almost went out of business.
Even though I was creating work that was considered different and unique (thank God), because of poor management and my lack of interest in the business side of my company, I owed a million and a half dollars to my vendors and taxes. It took me over 5 years to solve this major problem.
I remember this as being a very scary time of my life. I remember hiding from my vendors when they called for payment and being afraid of being arrested for not paying hundreds of thousands of dollars in back taxes.
I spent many sleepless nights beating myself up, asking how I could possibly let this happen?
Of course there are daily challenges for anyone running their own business, but even today there is nothing that comes close to how scary that part of my life was. I’d like to go into greater detail tomorrow and Thursday about how I went from this overwhelming challenge to running a profitable business.
In the meantime, it occurred to me that I am pouring my heart out to you without knowing more about you than your name. In this week’s venting, it’s your turn. Please tell me about yourselves. For instance:
- What area is your business in?
- How long have you been in business?
- What is the most challenging business obstacle you overcame?
And, of course, if you are currently experiencing any business challenges where I can help, please leave your question in the comments and I’d love to answer you directly by email.