What does it mean to “be humbled“?
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I laugh when people win awards and tell you how humbled they are.
I don’t believe you are humbled when you win. I believe you are humbled when you get punched in the face and brought to your knees.
For 2 years I was undefeated flipping houses, making (at least a decent) profit every time.
It wasn’t until my biggest project by far, with huge profit margins potential, that it all went wrong.
In one week:
I lost $100,000 in one deal.
Ended a business partnership.
Witnessed the birth of my first child.
Endured the disappointing look in my wife’s eyes.
I spent the next year repaying investors by pivoting my company towards the next market opportunity, and away from the previous one.
I had no personal liability to my investors. I could have walked away with no financial obligation. Instead, I made one of the worst financial investments but one of the best decisions of my life by buying out their interest in a failed company at full value. Because of this, I could raise capital overnight if I ever need to. But also because of this, I never will.
Not because I’m afraid of failing again, but because of how much I love the slow grind, the process, and the climb, when it all falls on me.
Losing the money humbled me.
Writing that check 1 year later made me feel invincible.