Bankrupt and Facing a $100 million Lawsuit, This Entrepreneur Learned the Power of Grit
success.comand .Early in his career and looking to supplement his work as a professional athlete, Goetschel joined a company with a network marketing business model and discovered that the business, in his opinion, was built around an antiquated system.
To provide a solution, he assembled a small group of talented team members and built a process that was easy to replicate. His small organization ultimately grew into a $40 million worldwide business, a feat that earned him a spot on the company’s advisory board of directors.But after a leadership dispute, Goetschel and a few others parted ways with the company.
Over the next few weeks, approximately 75,000 distributors followed his lead, and the company sued Goetschel for $100 million—litigation that would tie up his finances and energy for years.“Building the first big thing is not so bad, but building the second big thing, when you are literally bankrupt and have no money, that’s really hard to pull yourself back up,” he says. “ with all of that on your back is probably the greater accomplishment.”Although his first big success resulted in a dire financial situation, it also revealed his two greatest strengths: identifying problems and delegating the solutions to talented people.
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