A founder invested $250,000 in a mining company that hadn't turned a profit in 15 years, took over as leader, and hit $1 million in profit within the first year. He credits the turnaround to personally driving sales instead of delegating them, arguing that owners sell with more passion and protect margins better than anyone else.
One of my biggest business successes happened for me in my late 20s. I came to Canada in my late 20s. I was very excited to join this company in the mining industry, and I was super pumped, only to find out that they had hired me because I came across as an employee to start off with. They'd never made a profit in 15 years. They'd lived off government grants, and they had an investor. He was the chairman of the board for a really big company. I said to our investor, Colin, how much money do you need? And I said to the president at the time, we need We need about $250 grand. I then put the money in the company and I said to our investor, you will never ever put another dime in this company. Not when I'm at the helm, because I took over the reins of the company about 2 and a half years in. So pretty much my early 30s. And within that first year, we grew the company to $1 million in profit. Now that was a massive change. And I look at that and of course then we grew and then the company got sold and eventually I left the company as well. But it, turning companies around takes a lot of effort. And I realized that's one of my skill sets. One of my geniuses is getting in, seeing what's not working, and shifting the company. And one of the most important pieces I want everyone to realize that's watching this video or listening, your number one asset in your business is sales. The more you go out and sell, the quicker your business will grow. If you are hiring other people to do the sales for you, you're in a dangerous position. No one sells as passionately as the owners. And when you go out and sell, you'll grow quickly. Sales at the right margin fixes everything.
