Eric Siu's friend suggested bankruptcy in 2021 when his business was failing. Instead, he cut costs, doubled down on his strengths, and found new opportunities. He kept it from his parents until it was over.
When I was going through these tough times in 2021, Neil was the first one to call me as a friend to say, hey, I think you should bankrupt it, right? And that was the logical thing to do. But I told Neil at the time, remember, I was like, hey dude, if I keep going and it turns out well in the long term, like, that's gonna be a good story to tell and I'm gonna be much stronger, right? And I never told my dad the story until recently. He's like, why didn't you tell mom and me? I'm like, why the hell would I tell you guys? You guys are just stressed. It's better to tell you guys now. And he's like, so are you stronger now? You're like, stronger. I think this is a good moment. Like, if you're struggling right now, like, how do you double down? How do you cut costs? How do you become a lot more resilient? How do you become more adaptable? How do you go out and get business on your own, right? This is the chance for you to show how good you are as a founder, as a leader.
