Transcript of I Lost $30,000. Here's Why I Didn't Quit.

Abi in der Tasche und kein Bock auf reine Theorie? Dann mach was mit Praxis! Starte durch mit dem Abiturientenprogramm oder einem dualen Studium im Team Kaufland. Mach mehr aus deinem Abi und informiere dich auf kaufland.de/schüler. Kaufland, hier bin ich richtig.

Welcome to the Level Up Podcast. I'm your host Paul Alex. I went from being a cop to an eight-figure entrepreneur that helps average people like you and me make money every single day. I created this podcast to help you get motivated and to crush your goals. Let's win together. Remember, I have your 6. Get ready to level up right now. What's up everyone? Welcome back to the Level Up Podcast. I'm Paul Alex, and before we talk about the businesses that worked, let's talk about one that didn't. I tried e-commerce and lost about $30,000. I didn't come from money. That loss hurt. So if you've taken a hit and you're starting to think maybe business just isn't for you, I want you to hear this. I'm not going to act like losing that money was some brilliant strategy. It was a loss. I would rather tell you that honestly than make every part of my story sound like a win. But one business failing didn't mean I had to spend the rest of my life wondering what could have happened. I kept learning. I eventually moved into the ATM business while I was still a detective.

That business helped put me in a position to leave law enforcement. Here's the first thing: tell yourself the truth about what happened without turning it into a sentence about who you are. The business didn't work. That's something to examine. Saying you'll never succeed at anything is a different claim, and one loss doesn't prove it. Look at the decisions. What did you understand going in? What did you overlook? What would you need to know before making another move? Be honest enough to learn something. Second, keeping your goal doesn't mean keeping every business you try. You can stop doing something that isn't working and still be serious about entrepreneurship. You don't have to keep pouring time or money into an idea just to avoid admitting it disappointed you. Lastly, make the next attempt better informed. Start with the customer, the work involved, and the costs. Talk to people with experience. Ask the questions you were too embarrassed to ask before. Starting again doesn't have to mean making a bigger bet. It can mean making a smaller, clearer decision. Bottom line: I lost money. I made mistakes. I kept going. All 3 belong in the story. If you've had a setback, take the lesson seriously.

Give yourself permission to change the approach. You can be honest about a failed business without giving up on building a better future. Thanks for tuning in to the Level Up Podcast. I'm Paul Alex reminding you that you still have decisions to make after a loss. Learn what you can, take the next responsible step, and as always, keep leveling up. Thanks for listening up to the Level Up Podcast. If you enjoyed today's episode, make sure to share with a family friend and everyone you know who's ready to level up. Leave a 5-star review on Spotify, Apple Podcasts, and wherever you tune in. It really helps spreading the word. And don't forget to check out officialpaulalex.com for more episodes and resources to kickstart Abi

in der Tasche und kein Bock auf reine Theorie? Dann mach was mit Praxis! Starte durch mit dem Abiturientenprogramm oder einem dualen Studium im Team Kaufland. Mach mehr aus deinem Abi und informiere dich auf kaufland.de/schueler. Kaufland, hier bin ich richtig!