This article was originally published on SuccessNet.org in 2005.
In the early nineteen seventies I started farming in Addison County Vermont. In 1976 I built a meat packing company that would take not only the pork and beef production from our farm but from many other farms in the Champlain Valley. I felt Vermont farmers needed to diversify themselves from dairying and I believed the timing was right.
But I was wrong. I was 26 years old and I had literally bet the farm. I’d raised some capital but it wasn’t enough. I’d put everything on the line and in less than two years I’d lost it all. Seven years of blood, sweat and tears. A hundred and fifty acres, my home and most of my confidence were gone.
When all options had been explored, it was clear that bankruptcy was the only option. Going broke isn’t so bad, it’s whistling right on by broke that’s really tough.
I remember meeting with an attorney and describing our hopeless situation. He informed me that because it was such a complicated dissolution and there were so many contingencies that it would take several thousand dollars and he would have to be paid in advance.
That was a big problem. There WAS no money. None.
I couldn’t believe it. I was too broke to go bust. It took me several years before I could file a personal bankruptcy and start over—and even then, I still owed the IRS over ten thousand dollars.
Many people ask me today how I dealt with that failure—as well as another big one that happened ten years later. Sometimes, I’m not sure myself how I got through it. I guess we don’t remember pain all that well.
What I say is that I left the meat plant with only three things: my experience, my rhododendron plant and my attitude. I don’t know what happened to the office plant. And the knowledge and experience I got in the meat business doesn’t provide a whole lot of value to me today.
What really has been of value is my attitude—especially toward setbacks.
It wasn’t always easy. I didn’t always have a great attitude about my business failure. But I did hang in there.
I’d made a promise to myself when I was 20 years old that I would never quit. I told myself that no matter what challenges I might face in reaching my goals that I would never throw in the towel.
There were certainly times I wanted to give up on myself and there were even times when I felt like I DESERVED to give up on myself. But somewhere I found the strength to carry on.
And I’m sure glad I did. Because I now live the life of my dreams—and I am grateful.
I kept a positive attitude by reading good books and listening to good tapes. I kept myself up by hanging out with positive successful people. I monitored my self talk and wouldn’t allow myself to hold pity parties.
Did I get discouraged? Sure.
Was it hard work? You bet.
Was it worth it? Absolutely.
For those of you who might be facing difficult times—now or in the future—I say, “Hang in there.” You CAN do it. The pain WILL go away.
Just because you’ve failed at something doesn’t make YOU a failure—UNLESS YOU QUIT.
Best Life Truth: Falling down isn’t failure—unless you don’t get back up.
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