Eric Benaim started his company in April 2008, opened in June, then watched Lehman Brothers collapse in September. By December he was broke and borrowed $10,000 from his father to cover three months of $3,000 rent.
What was 2008? 2008 was really a tough year. I started the company, we got incorporated in April and then opened our doors in June, July, and then Lehman Brothers crashed in September. And I didn't think we would survive. In December, we thought we were going to close the doors. I had to borrow $10,000 from my dad just to hopefully stay afloat for a couple months. I think my rent of my— back then, the rent of my office, I think $3,000. And so the $10,000 could have kept me open for 3 months.
If your sons and daughters only remembered one lesson from you about money, what would it be?
