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I have zero motivation to work after losing over $100,000

Discussion in 'General Entrepreneur Discussion' started by SweetTooth, Jun 16, 2018.

  1. SweetTooth
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    SweetTooth Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    I don't really know where to start. Basically awhile back I got really lucky in business and made over $100,000 profit in ecommerce. And over the period of a couple months I ended up losing it all from a mix of bad business decisions, splurging it on shopping and travel, and a little bad luck.

    Now its as if everything I do to make money backfires and fails. I've had to fire all my VA's and drastically cut down on how much I spend on ads. As embarrassing as it is to say, I now have only a few thousand dollars left and 5 figures of debt. My credit has been hit hard and I wonder if I'll have to file bankruptcy soon.

    For the past couple months I've had zero motivation to work. All I do is browse the internet, youtube, netflix, eat junk food, sleep in, and stay home. I wonder if losing this money has had a bigger impact on me than I knew how to handle. I don't believe I have depression but it feels like I'm flirting with it. I've tried everything to get out of this rut. Pure discipline, trying to find my purpose/fulfillment, coffee, adderall, nootropics, motivational blogs/videos, hired a life coach, went to masterminds/conferences, watched courses, etc. Some might have temporary fixes but nothing keeps me going.

    I want to believe its only a mental roadblock holding me back but when I do try to move forward in business I keep failing and losing money. My ads fail, products fail, stores fail, networking fails.

    I know the goals I have. I know I should keep working. I just can't find it in myself to DO. Maybe its because I don't know what to do anymore, everything I thought I knew I should do has proven to be wrong. Nothing "drives" me any more. Does anyone know whats happened to me?
     
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  2. scott wisniewsk
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    scott wisniewsk Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    You did it once you can do it again. Stop crying and get back to work . Ive been bankrupt and I crawled back , in this climate there's no excuse not to keep trying . Suck it up butter cup !!
     
  3. LightHouse
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    LightHouse Legendary Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Have you considered seeing a phsycotherapist?
     
  4. minivanman
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    Next time don't get in to any credit debt and you won't have any worries of debt. If you MUST get in to a business that requires debt then you either pay it off at the end of every month or the 1st month you can't pay it off..... close that business down and repay that debt before you move on.

    Here is a great way to get out of that depression..... get you a lawn mower and mow for 10 hours per day 6 days per week. Not only will you be too tired to think about being depressed, you can turn that in to a million dollar business. See, killed 2 birds with 1 stone.
     
  5. Roli
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    Roli Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    My guess is you have lost enthusiasm for your business, or rather it wasn't really there in the first place. Whilst you don't necessarily need 'passion', you do need to be enthusiastic.

    I was in a similar situation as you (without the 100k success) and as soon as things started to go wrong I lost the drive that had got me there in the first place.

    You need to fold the business and look to other options, it's as simple as that.

    Then you need to get some structure back in your life -

    . Download the 'Stay Focused' app, put Youtube and Netflix into it and limit your use to zero to 10 minutes a day.

    . Do not leave your computer online all day, rather create blocks of time you are on it.

    . Join, or start going again to a gym regularly.

    . Stop focusing on failure, make a list about all that is great about your life. Remember there are people out there who don't even have a roof over their heads at night.

    . STOP EATING JUNK FOOD! Seriously man, I am a pretty healthy guy and a while back I was giving into my urges to eat lame fried chicken (not even KFC, worse!) and I started analysing how I felt afterwards. Horrible doesn't even seem to cover it, that shit rots your brain and body, you need to stop now.

    . Don't drink more than one coffee a day MAX. In your condition it will only make you feel worse.

    . Analyse how you felt when you read the above line "You need to fold the business and look to other options, it's as simple as that." Did you think to yourself "Yeah, you're probably right." or "NO! Forget you buddy, I'm not going to let my baby die!!"

    If it's the first then hey, you know what to do, if it's the second then it's simply a matter of getting fit and healthy again and you'll be fine.

    . If you do carry on, then strip it all back and analyse what worked in the beginning and why. Then compare it to what you're doing now, has there been a shift in the market? Was it fluke? Really drill down into the figures and analyse the hell out of it.

    -

    At the end of the day you are upset with yourself because you didn't save any money and you mistakenly thought you had 'made it' prematurely.

    But remember this, mistakes are only mistakes if you don't learn from them.

    Once you've pulled yourself out of your funk, list down all the mistakes you made. After each one write a paragraph or even just a few words about how you will avoid the same mistake in the future.

    For example:

    Mistake 1 - Bought X for $Y when I didn't need it.
    Will create a locked savings account so this doesn't happen again.

    Mistake 2 - Wasted dollars on so and so business decision.
    Remember I have time, do not rush into these things, more due diligence.

    ...and so on.

    You can do it buddy, I'll leave you with one of my favourite movie quotes, from the film Dune -

    By my will alone I set my mind in motion...

    And one of my favourite quotes full stop.

    We choose to go to the moon not because it is easy, but because it is hard.

    Now go get 'em!!
     
  6. Blek
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    Blek Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Know that feeling. For me it was wasting all time and energy on TT/FB - so first stop this. Try to be "sober".
    If You are like me in some way - it can be some diet problems - 5-HTP was to me discovery.
    It can be to do some reading - Steven Pressfield "The War of Art" - not all books are equal, this book is for people working alone.
     
  7. Silver Silk
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    Silver Silk Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER

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    Ive never had or lost $100000 but id say things only get better when you get better... so if youre really bothered then you will do something about it and work on the situation
     
  8. TonyStark
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    I’m sorry this happened to you.

    But change that habits that led you to the sidewalk in the first place.

    If you can’t manage a few thousand dollars, why a hundred thousand?
     
  9. GoGetter24
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    GoGetter24 Gold Contributor Speedway Pass

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    What's the cost of bankruptcy in your country?
     
  10. minivanman
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    Good question. I don't think I've ever wondered how much it costs to file and do what ever else there is but before I google it I'm going to guess...... $700........ and the answer is....... googling now....... it says $306 chapter 7 and $281 chapter 13. And then it says around $800 for attorney's fees. But the attorney could be higher or lower depending who and where. Way lower than $100,000 :)
     
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  11. PetePreneur
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    PetePreneur Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    By the sounds of it, you've failed so many times that you've given up doing any work because you just think it's only going to lead to more failure. So you're probably at a stage where you don't see the point in trying anymore.

    You just need to firstly reflect on what you did right that caused you to get the $100k and then pick yourself and try and notch up a few successes- Even if they are small successes like quitting junk food and losing a few pounds ect whilst you're trying to figure out your financial problems. It's important to get yourself back into a mental state where you believe that the hard work will actually lead to something and build from there.

    It is pretty hard to do when you're in an absolute downward spiral like it sounds like you're in, but there's bound to be cycles where it feels like everything you touch is turning to shit, followed by it feeling like everything you touch is turning to gold.
     
  12. JohnZ123
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    JohnZ123 Bronze Contributor

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    Suck it up. Entrepreneurship is meant to be tough and you're going to face failure and criticism. Recall why you started entrepreneurship in the first place. Your WHY should be strong enough to drive you. If you don't feel motivated it's because you haven't experienced enough pain. When life hits the fan and you hit rock bottom (which you are now) it's either do or die. You MUST take massive action to get yourself out of this situation. You MUST delay instant gratification and enjoy the process. Entrepreneurship is a long term journey, realistically you should expect a 5 to 20 year grind before you see any massive results for most people.
     
  13. Chx
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    Chx Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    So you've hit rock bottom.

    Great.

    I'm no life coach, but I can assure you that pills, coffee, or some motivational video will not fix what you're going through.

    In fact, your lack of motivation is not even the main problem here. It is merely a symptom.

    The real issue is your habits:
    and, in turn, your lifestyle.

    Pick yourself up, dust yourself off, and change these habits before they leave their permanent mark.

    Once you fix your lifestyle, dealing with feelings of depression will be much easier, and you'll be back to your higher levels of productivity.

    From here, you can either choose to continue your previous business (though, it sounds as if you've lost interest in it), or pursue a different venture.

    Lastly: once you've sorted yourself out, the mere thought of reverting to this condition you're currently in will act as a strong motivator as to WHY you should continue pushing forward.

    I wish you the best of luck!

    P.S. I will have many nightmares about your profile image :rofl:
     
  14. WJK
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    Most people normally lose 2 fortunes and hang on to the third one. You are learning the hard lesson that you never arrive. You must always be diligent. Good habits are your best self-defense.
     
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  15. Rich Wood
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    A couple years back I had a project go south, and I lost about $110k because of others actions (outside of my control). I know the feeling you are going through. It made be stronger though, when I overcame it. I focused on other things outside of this one loss, and promised never to make the same mistakes again. My MBA cost me about $120k, and this lesson cost me about the same amount. Some lessons in life are expensive. Consider it an educational expense and move on. There is more money to be made in life for you if you chase it. Also, look outwards, help others, do some service work, or some other support of others, there are a lot more people less fortunate than you right now. Empathy and understanding may be what you need to kick-start your next campaign in life. Best of luck in your goals. 2.0.
     
  16. Maxboost
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    This was covered in MJ's book. Did you learn anything from this forum or the book? You got yourself on the sidewalk after making a little bit of money...knowledge is useless if you don't apply the knowledge.
     
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  17. GoGetter24
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    GoGetter24 Gold Contributor Speedway Pass

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    I meant more like "what happens to you"; for instance in HK it's like a personal receivership that lasts 4 years, a mild version of debtors prison that costs you a lot of liberties.
     
  18. minivanman
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    minivanman Platinum Contributor Speedway Pass

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    What type of 'liberties' do you lose in your country? I bet in America if they made it so you couldn't have internet until you paid off all your debt.... you would see a country coming alive and getting that debt paid off!!! lol
     
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  19. Cruze
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    Look positive: you´ve made about 100k!!! You know how the journey is, if you have once done it, you can do it a second time, again!

    Example?

    Larry Fink, Founder & CEO of Blackrock, the BIGGEST hedgefund in the world...loose about 100 million dollar and ruined his reputation. Then he found is hedgefund BLACKROCK.

    Steve Jobs...founder of Apple...lost his job as CEO and become the new CEO a few laters later again.


    Do it, don´t cry!
     
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  20. Siberia
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    Repetition is the mother of all experiences.
    When you repeat your trip or better you will take it back, you will improve it for sure because you will have become a better person with more experience.
    The bad habits you mentioned are nothing but a form of classic victimism to get attention from others.
    Nobody cares about how you treat yourself.
    But for all your customers, how do you treat them and what new value you have ready to solve their problems and how much this time it will cost.
     
  21. Siberia
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    Hi Roli!!
    Can you put here a screenshot of this app because there are a lot of similar.
     
  22. Siberia
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    Dear SweetTooth ... I have the follow small question for you:

    "Why did not you answer any of the people in this thread who are helping you?"
     
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  23. juba.hadjal
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    Hello there, I don't know what you are going through but I understand what you are searching for. After reading your post I thought about money, you are actually looking for money and you forgot how to help. I know it is almost impossible to think about helping others in your situation but that's what you lost.

    Your dept and depression are pushing you to become selfish when a while ago you certainly focused on delivering value and helping others. You spend money on things that won't help you and you lost confidence on your ability to help people. (that's money-chasing)

    The things I recommend is to work for free, even if it is hard to do so when you are indebted but you need to create a new positive Feedback loop and move forward. The creation of a positive feedback from people you helped will create more confidence and thus create a new man.

    Think about the services you can offer for free and help as many people as possible. After earning more a $100.000 doing business you probably know a lot about e-commerce that others don't. Go to forums and provide more valuable information, be it how to create adds, how to market and design sales funnels, how to chose a domain, or be it very simple and not actually big of a deal.

    One thing you must know is that we always know more about business than newbies and it is our duty to give them advice.

    For the rest of the bad habits you are creating with your low mood, you can try to exercise 15 minutes a day or go for a long walk, I suggest posting more often in this forum and read experiences people share and connect with them.

    I hope this helps buddy, we are all here to help and you should do the same for others.

    Greetings from France, Youba.
     
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  24. GoGetter24
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    The US seems very lenient on bankruptcy though. In other countries it's pretty common to have restrictions like not being able to leave the country without permission, losing access to credit cards, needing permission to open bank accounts, needing permission for certain expenditures, etc. It's usually a big weight until it's discharged, not just "OK do-over, slate insta-clean!".
     
  25. GoGetter24
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    GoGetter24 Gold Contributor Speedway Pass

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    Because responses like "Stop crying, get on with it, suck it up, just start again, don't make mistakes like that next time" don't encourage OP to respond. Those things are more self-serving of a poster looking to indulge in internet bravado than the OP.

    Has there ever been a case of that kind of 'advice' helping someone in his situation buck up and get out of it? He needs inspiration not scolding.

    What OP needs is a specific case, a specific biography or story, of someone being in a similar situation and how they got out of it. He can actually use that. None come to my mind, but I'm certain there are some.
     
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