Where I have been this time... and why I'm famous at Wells Fargo

[MoneyDoc]

That also makes 2 companies I am famous at. Im sure there is survalence footage of me at UPS.

I have another story Ill unpack for you guys. Simillar theme. Also, if you have any questions for me don't hesitate to ask. Im not some billionaire, but Ive been around the block a bit.

Please let us know of this story ASAP! Thanks.

 

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[Ronak]

Did you ever meet these guys in person (supplier or customer)?

Looking back, what were the red flags in the process that you will now be paying more attention to?


Amazing story, glad it turned out for the better. Weaker men would've given up long ago-- you are an inspiration and deserve all the success coming to you....KUDOS!

Hey guys, I have been extremely busy the last several months. As usual. Sorry that's such a pattern. It has definitely been an incredible learning experience. I know @Vigilante is privy to some of the details of this time away... I decided it would be a huge shame not to use what I have learned to help some of you. I also plan to do what I can to stick with this although the companies suck up a major portion of my time.

First of all, I got married back in April to a wonderful woman and I am thrilled I got her. She is amazing, I love her very much and I am extremely happy I married her. So to those of you who think you can't have a successful business and a wife or family are wrong, you just have to be deliberate and make sure you create systems that allow you to spend time away from the business. Its worth it. No judging here, just don't let entrepreneurship stop you from pursuing a rewarding relationship if it is something you are interested in.

Now on to the business stuff... I am convinced that we all will be humbled at some point. The fortunate part is it is probably one of the largest stepping stones to the success there is. I can't believe the shaky foundations I have tried to build on in the past viewing from where I stand now. I have gone through so many times in my life where I felt like I couldn't lose. Like I had the world by the balls. Sometimes you need the world to kick your a$$ to realize something better might be out there.

The following few stories I'm going to share show how being diligent in hard times is so important. I will start with part of the first story on this post.

Ok. I have been attempting to source raw materials for very large companies. Companies you would know. This had initially been a project I took on for fun because I saw some opportunity. I eventually found demand for something huge and went after it. It took over a year to find this particular product. I worked and worked. Through supplier after supplier. Country after country. I must have had the same discussion with 1000 different potential suppliers. I have spent thousands of dollars on samples that didn't pan out. Plane tickets to meetings that didn't pan out. Shit wasn't going right. I wanted to quit because this sourcing crap didn't even matter, I was making money elsewhere, but I decided a long time ago that if "its too hard" is my reason I will not quit. I refuse to be a pussy.

Finally, after all of that blood, sweat and tears, I found the material in China, at a price where I could make an ongoing mid six figures per month. I thought the blood sweat and tears were over. This was by far the biggest kind of deal I had ever done. It was amazing and exciting. I sailed through the process of sending samples and supporting documents to potential customers. Doing my best to look like a way bigger company than I am. Finally, One bit. Hard. Within about a month I had money being put into a letter of credit for the first of what would be 6-10 similar transactions per month. It was there. Way more income than I have ever had in my life was sitting in limbo. It was a side project about to blow past my other businesses. It was sitting there ready for me to transfer just a fraction out to my supplier. That fraction happened to be about 100k by the way. The remaining chunk would be mine when the LOC cleared.

Wells Fargo made the transfer a pain, every step of the way they would need some other bs for me to create. I ended up on my honeymoon during this deal because it took a few weeks to get this done. My wife being the awesome chick she is was supportive and found it hilarious when I needed to get a document notarized in Cabo. We went to like 7 places before one just took 20 bucks to stamp my document. Finally I was in compliance with all of the regulatory crap. Honestly it probably wasn't because the Mexican notary may have just been a guy with a stamp. Whatever, now I can relax and look at million dollar vacation homes and have fun on my honeymoon because big money is on the way. Back at home I got confirmation from Wells that the transfer was a success and the credit was now offered to my supplier. I was excited to tell them that evening, but evidently they already knew. The supplier we had been in discussions with for months, who supplied a rock solid sample was completely unreachable. Their website gone. Phones disconnected. Email bouncing. Son of a bitch...

I will continue this later, I'm going to sleep.

 

[Vigilante]

I think MJ already asked my TOP 5 questions

Now, you would think that these big companies would have the man power to figure out how to buy these products from the manufacture, but apparently that's not the case. Besides finding are good quality product is your only other job is to get the product from manufacture to client?

Being a Raw Materials distributor seems to be a zero fluff type of business. Is it fair to say that the barrier of entry is to have the capital to buy all those samples and also the knowledge that there is raw materials to be sold?

The barriers to entry for this business are numerous. It's fair for me to say, knowing all the details, that he could post the exact materials and process and yet only large companies could do what he does... and even then they're turning to him to do it as he does it better and cheaper than they do. This business combines wholesale, chemistry, international business, logistics/transportation en masse, dealing with regulatory agencies in multiple countries, and other true trade secrets. It's not easy to break down like :

So to manufacture jeans all I need is raw materials, a factory, and a design? Oh and a national retailer to sell them?

Companies IN this business, USING this material, can't do what he has done. He's not an intermediary - don't get an oversimplified impression. He's changed an entire market on a global basis.

is your only other job is to get the product from manufacture to client?

There's not much of a need to really dissect the business model any more, as in part it's irrelevant to the story, and in part because it's not replicatable or immitateable in any other sector that I am aware of. He didn't post this to talk about his commodity or his process. He posted it because of the cycle of overcoming obstacles.

Focus on the substance of the story, not the specifics of the product. For purposes of his message, the product doesn't matter. If you can put curiosity about the product aside, every single person here can learn from the story of tenacity and removing barriers.

 

[StompingAcorns]

The point I'm trying to make here is that if I had given the finger to this project at ANY point along this journey I wouldn't be here looking at a far more lucrative deal than I ever thought possible. Hard times can be a blessing in disguise. Clearly a much closer relationship with my customer than I would have had. I have earned respect. Also don't let anyone tell you they cant do something, they may be right, but someone can. Remember no one gives a shit about you.

Amazing story! Thanks so much for sharing. And congratulations on your marriage.

 

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[evlttwin]

This was almost as good as the customs story. Hooking up a trailer and hauling a$$ out of the customs gate while someone is screaming at you to stop is hard to top though.

 

[ExcelGuy]

Kudos and mad props to you @Kak. Different league for sure. I'm sure you started somewhere but I don't have the guts or the balls to do most of that. I've already got a wife, 2 kids, and a mortgage to worry about. I'll post in 1 year and see if I'm still in business. I was even nervous just setting up an Alibaba account thinking I was getting screwed, let alone contacting a Chinese supplier. Luckily the one I found replied in excellent English and I have a basic knowledge of the language and culture.

Anyway peace and rep to you man. And enjoy time with your wife before children take away your free time even if you don't need it to build a business.

Sent from my SM-A500W using Tapatalk

 

[MJ DeMarco]

Kudos and mad props to you @Kak. Different league for sure. I'm sure you started somewhere but I don't have the guts or the balls to do most of that. I've already got a wife, 2 kids, and a mortgage to worry about. I'll post in 1 year and see if I'm still in business. I was even nervous just setting up an Alibaba account thinking I was getting screwed, let alone contacting a Chinese supplier. Luckily the one I found replied in excellent English and I have a basic knowledge of the language and culture.

Anyway peace and rep to you man. And enjoy time with your wife before children take away your free time even if you don't need it to build a business.

Sounds like you have your lifetime excuse locked-in.

But I guess I understand; a married man with kids and a mortgage has never successfully started a business in all of recorded history.

 

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[Vigilante]

I'll post in 1 year and see if I'm still in business.

Let's be frank. You won't be. Success requires wanting to work this out no matter the obstacles. You've already got your tail between your legs and you're not even out of the starting gate yet. I'd be willing to place a side bet wager on this right now, just based on your post.

Read my post about how someone ends up at 40-something left for dead. That's the life you think you are predestined to. Did you read the Millionaire Fast Lane?

I reject every single word of your post, other than your thanks to the OP.

I have a young kid and all the free time the world has to offer. You're resigned to a lesser fate.

What are you doing here? PULL YOURSELF UP BY THE BOOTSTRAPS AND GET YOUR MIND FOCUSED ON WINNING, NOT LOSING.

You owe it to your wife, your two kids, and your legacy.

 

[JAJT]

Wow, great story - I was wondering how all this was working out for you since we last talked.

Although I do have to say I'm not at all surprised. You are cut from a different kind of cloth my friend.

I'm very happy for you

 

[Mikkel]

Let's be frank. You won't be. Success requires wanting to work this out no matter the obstacles. You've already got your tail between your legs and you're not even out of the starting gate yet. I'd be willing to place a side bet wager on this right now, just based on your post.

Not sure why I got quoted for this? I assume you are referring to @ExcelGuy post maybe?

None the less, the drive for success can be learned. With his current mindset, no he most likely will not succeed due to there being obstacles that may be more challenging than his willpower to endue. However, to ask why he is being here is a bit odd. Each person gains something unique from being on this forum. Some people may read posts for a whole year(or more) before they happen to click on a post that ignites something unique within them.

In my opinion, I suggest working on yourself first before starting up a business that very well will fail based on a lack of confidence in your skills and motivation. I wouldn't suggest going to classes for this sort of stuff, costs money and probably not worth the price. I know in life you can find points where you have learned to push through, or have taught yourself to fail. For myself, I have learned determination through my sport of choice, and more specifically at a 30 day wrestling camp that kicked my a$$ and rewired some thing sin my brain.

 

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[MJ DeMarco]

Not sure why I got quoted for this? I assume you are referring to @ExcelGuy post maybe?

Yes, looks misquoted.

 

[Vigilante]

Not sure why I got quoted for this? I assume you are referring to @ExcelGuy post maybe?

None the less, the drive for success can be learned. With his current mindset, no he most likely will not succeed due to there being obstacles that may be more challenging than his willpower to endue. However, to ask why he is being here is a bit odd. Each person gains something unique from being on this forum. Some people may read posts for a whole year(or more) before they happen to click on a post that ignites something unique within them.

In my opinion, I suggest working on yourself first before starting up a business that very well will fail based on a lack of confidence in your skills and motivation. I wouldn't suggest going to classes for this sort of stuff, costs money and probably not worth the price. I know in life you can find points where you have learned to push through, or have taught yourself to fail. For myself, I have learned determination through my sport of choice, and more specifically at a 30 day wrestling camp that kicked my a$$ and rewired some thing sin my brain.

Yeah. Sorry, you are 100% right. I was referring to his post.

 

[Kak]

The barriers to entry for this business are numerous. It's fair for me to say, knowing all the details, that he could post the exact materials and process and yet only large companies could do what he does... and even then they're turning to him to do it as he does it better and cheaper than they do. This business combines wholesale, chemistry, international business, logistics/transportation en masse, dealing with regulatory agencies in multiple countries, and other true trade secrets. It's not easy to break down like :

So to manufacture jeans all I need is raw materials, a factory, and a design? Oh and a national retailer to sell them?

Companies IN this business, USING this material, can't do what he has done. He's not an intermediary - don't get an oversimplified impression. He's changed an entire market on a global basis.



There's not much of a need to really dissect the business model any more, as in part it's irrelevant to the story, and in part because it's not replicatable or immitateable in any other sector that I am aware of. He didn't post this to talk about his commodity or his process. He posted it because of the cycle of overcoming obstacles.

Focus on the substance of the story, not the specifics of the product. For purposes of his message, the product doesn't matter. If you can put curiosity about the product aside, every single person here can learn from the story of tenacity and removing barriers.

@Mikkel

@Vigilante Excellent post you responded for me.

In addition to what Vig has said you need, you also need money and the willingness to wrap it up temporarily and the balls not to kill yourself if things go haywire. When you are dealing with 7 figures in a total order, which is where this will end up, you are dealing with enough money where even a once legitimate businessman could be tempted to cut and run. When you are dealing with figures like this you have to be willing to accept a truth that something could always go wrong and you could be the one left with the bill.

I always do what I can to make sure that isn't the case. I also learned to be even more vigilant.

 

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[Kak]

Kudos and mad props to you @Kak. Different league for sure. I'm sure you started somewhere but I don't have the guts or the balls to do most of that. I've already got a wife, 2 kids, and a mortgage to worry about. I'll post in 1 year and see if I'm still in business. I was even nervous just setting up an Alibaba account thinking I was getting screwed, let alone contacting a Chinese supplier. Luckily the one I found replied in excellent English and I have a basic knowledge of the language and culture.

Anyway peace and rep to you man. And enjoy time with your wife before children take away your free time even if you don't need it to build a business.

Sent from my SM-A500W using Tapatalk

Ok @ExcelGuy know you have taken a lot of punches already, but I agree with Vig and MJ. While I appreciate your appreciation for my post, if you were the only person I unpacked this story for I would honestly be pissed off that I even wasted my time. You clearly didn't get the point. Im not some fast and loose hotshot jackass on the verge of financial collapse. I have a mortgage, I had a car payment until recently, I put money away, I have a wife and Im going to have kids. The point was that I worked my a$$ off until I got the results I was looking for.

I don't believe in "thinking positive will make you succeed" and that isn't what any of us are saying. I do believe that people with an internal locus of control are far better suited to being entrepreneurs. Your locus of control is external. You have already taken the cards that life has given you and formed a box around what you think you can and can't do based on that (these people are also often democrats)... Someone with the internal locus of control knows they are the dealer and that they can run their own lives.

Work with what you have. Take responsibility for your own income. You owe it to your children to teach them this principle and you own it to your family as a whole to do everything you can.

 

[Fox]

I don't believe in "thinking positive will make you succeed" and that isn't what any of us are saying. I do believe that people with an internal locust of control are far better suited to being entrepreneurs. Your locust of control is external. You have already taken the cards that life has given you and formed a box around what you think you can and can't do based on that (these people are also often democrats)... Someone with the internal locust of control knows they are the dealer and that they can run their own lives.

Work with what you have. Take responsibility for your own income. You owe it to your children to teach them this principle and you own it to your family as a whole to do everything you can.

Powerful advice.

 

[Trud09]

Ok @ExcelGuy know you have taken a lot of punches already, but I agree with Vig and MJ. While I appreciate your appreciation for my post, if you were the only person I unpacked this story for I would honestly be pissed off that I even wasted my time. You clearly didn't get the point. Im not some fast and loose hotshot jackass on the verge of financial collapse. I have a mortgage, I had a car payment until recently, I put money away, I have a wife and Im going to have kids. The point was that I worked my a$$ off until I got the results I was looking for.

I don't believe in "thinking positive will make you succeed" and that isn't what any of us are saying. I do believe that people with an internal locust of control are far better suited to being entrepreneurs. Your locust of control is external. You have already taken the cards that life has given you and formed a box around what you think you can and can't do based on that (these people are also often democrats)... Someone with the internal locust of control knows they are the dealer and that they can run their own lives.

Work with what you have. Take responsibility for your own income. You owe it to your children to teach them this principle and you own it to your family as a whole to do everything you can.

I certainly got a lot out of the post and thread. Thank you for taking the time.

I wonder what makes you a cut above the rest as others have said. Is it your morals, drive, knowledge, something else? I am just curious what they see and possibly I can grow in that area.

Regardless, great story and I hope to hear your UPS story sometime as well.

 

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[LightHouse]

I wonder what makes you a cut above the rest as others have said. Is it your morals, drive, knowledge, something else? I am just curious what they see and possibly I can grow in that area.
.

I wanted to say it's really easy to change because most peoples fears hold them back from having a drive and taking risks...

But I actually think some people are born with it then there are most people aren't and spend their whole lives trying to figure out why they can't do it.

If you are inherently lazy, you might never make it. If you can't jump off the bridge without having to have every detail and reassurance, you probably won't make it. If you're not a little crazy and dont feel the drive to do things the unconventional way and challenge the status quo... You will definitely never make it.

 

[Kak]

Did you ever meet these guys in person (supplier or customer)?

Looking back, what were the red flags in the process that you will now be paying more attention to?


Amazing story, glad it turned out for the better. Weaker men would've given up long ago-- you are an inspiration and deserve all the success coming to you....KUDOS!

Supplier no. Customer absolutely several times.

My policy is now to have my a$$ completly covered and have a plan for what Ill do if somehow I still get screwed.

Keep in mind I was using an LOC... Typically considered a secure way to transact business. They didnt give me a single red flag except knowing what I knew, I should have been more skeptical that they could supply the amounts I wanted to buy. Its pretty hard to come by. The fact is that they did everything else perfectly.

 

[Trud09]

I wanted to say it's really easy to change because most peoples fears hold them back from having a drive and taking risks...

But I actually think some people are born with it then there are most people aren't and spend their whole lives trying to figure out why they can't do it.

If you are inherently lazy, you'll might never make it. If you can't jump off the bridge without having to have every detail and reassurance, you probably won't make it. If you're not a little crazy and dont feel the drive to do things the unconventional way and challenge the status quo... You will definitely never make it.

I definitely challenge convention and am willing to take calculated risks and am willing to take high risks for high rewards. I have seen some areas where fear has held me back as well.

Thank you for the food for thought.

 

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[Hong King Kong]

@Kak awesome story, glad to hear you're still hustling like a mad man. But I'm not surprised...

Because let me tell you guys a story about @Kak that has always stuck with me.

Not long after I joined this forum 4 years ago @Kak came through to Hong Kong and I got to meet him in person. We went to trade shows and did normal touristy stuff, then one day when overlooking the Hong Kong skyline we saw some helicopters flying in and out.

He said something along the lines, with a smile and zero doubt in his eyes,

"They make those for a reason you know? It's made for people like us! Just imagine flying like that from one meeting to another"

It blew my mind at the time, because I was such a rookie and had so many mental barriers about success. Not to mention he was so much younger than me, it was crazy motivating.

It all makes sense now, you NEED to think BIG to achieve major success. And with his mindset, I have no doubt he can become a billionaire if he wants.

 

[Vigilante]

I wanted to say it's really easy to change because most peoples fears hold them back from having a drive and taking risks...

But I actually think some people are born with it then there are most people aren't and spend their whole lives trying to figure out why they can't do it.

If you are inherently lazy, you'll might never make it. If you can't jump off the bridge without having to have every detail and reassurance, you probably won't make it. If you're not a little crazy and dont feel the drive to do things the unconventional way and challenge the status quo... You will definitely never make it.

Timely

 

[amp0193]

I've already got a wife, 2 kids, and a mortgage to worry about.

I started my current business the week my daughter was born. I was skyping suppliers at 3am with a sleeping newborn on my elbow.

15 months later I quit my job and took my wife and 1.5 year old daughter exploring cities in Sweden while my business print money.

This afternoon, me and my 2-year old are taking a tour of the fire station, while everyone else is at their day job... because I F*cking can.


Don't make excuses.

 

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[Torobaro]

Hard times can be a blessing in disguise.

Amen! Amazing job

 

[Ronak]

@Mikkel

@Vigilante Excellent post you responded for me.

When you are dealing with 7 figures in a total order, which is where this will end up, you are dealing with enough money where even a once legitimate businessman could be tempted to cut and run.

I always used to think the trust factor was overblown, because trustworthy people don't normally think about how untrustworthy others can be, but on many occasions I've been told how trust was #1 in choosing 1 person over another, seemingly at the expense of ability. Of course you need both, but I can see how important it really is when you're dealing with these kinds of numbers.

 

[Kak]

I certainly got a lot out of the post and thread. Thank you for taking the time.

I wonder what makes you a cut above the rest as others have said. Is it your morals, drive, knowledge, something else? I am just curious what they see and possibly I can grow in that area.

Regardless, great story and I hope to hear your UPS story sometime as well.

The UPS story is on the forum.

I don't consider myself a cut above anything. I am me. I just play my game. Where I land when it is all said and done is where I land. I keep everything on the up and up. I never have to look over my shoulder and never will.

My knowledge... I believe being smart is the willingness not the capacity to learn and so I wring every bit of knowlege that I possibly can out of every situation.

My drive... I am a lifelong entrepreneur and I simply understand that the difference between a big business and a small business is the size of your strategy.

@Kak awesome story, glad to hear you're still hustling like a mad man. But I'm not surprised...

Because let me tell you guys a story about @Kak that has always stuck with me.

Not long after I joined this forum 4 years ago @Kak came through to Hong Kong and I got to meet him in person. We went to trade shows and did normal touristy stuff, then one day when overlooking the Hong Kong skyline we saw some helicopters flying in and out.

He said something along the lines, with a smile and zero doubt in his eyes,

"They make those for a reason you know? It's made for people like us! Just imagine flying like that from one meeting to another"

It blew my mind at the time, because I was such a rookie and had so many mental barriers about success. Not to mention he was so much younger than me, it was crazy motivating.

It all makes sense now, you NEED to think BIG to achieve major success. And with his mindset, I have no doubt he can become a billionaire if he wants.

Nice! That was a great time.

Yep there is a reason companies build private jets, helicopters and yachts. Because people buy them. Why the hell not be one of them?

Round two in Shanghai sometime soon? I have some business to take care of out that way.

 

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[Hong King Kong]

Round two in Shanghai sometime soon? I have some business to take care of out that way.

Could be possible, just give me a shout would love to meet and catch up.

 

[MoneyDoc]

@Kak Buddy, still waiting for that second story you promised us.

 

[Kak]

@Kak Buddy, still waiting for that second story you promised us.

You'll get it, be patient. A third lesson to be learned also materialized today.

The second story is one that addresses, sales and adaptation. It is a tough one for me to unpack.

The third might just be patience in negotiating.

 

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[YoungPadawan]

I'm glad everything worked out for you Kak!

All the best,
Colin

 

[Scot]

Congrats on your hard work! I have nothing to contribute here other than a high five. Looking forward to reading the rest.