Guess Speaker Shadrach White
The most successful business people are those who are not afraid to fail. Even if you fail there is always a lesson to learn from our mistakes. Success is not a straight path, it is looks more like a roller coaster. There will be up and down moments but what separate success people from those that are not is perseverance and hard work. Even when things are not going your way is just keeping your eyes in the long-term goal.
Learning about Shadrach White first company fail was an eye opening. He lost his investors’ money and had a debt of 75 thousand dollars. Shadrach business idea was excellent. He created a company that sells original jerseys for NBA teams. He said that his company was a success, but he did not know how to manage company financial. The lack of financial knowledge was one of the key factors why his company went out of business. Something that got my attention was that when he was a kid one of his teachers asked to the class what they wanted to be when they grow up and he said, “he wants to be millionaire, and his teacher got mad and told Shadrach that it was not a profession” I thought it was interesting that his goal was to become millionaire when he was just 6 year old.
Shadrach second company was a sucess, he was able to manage to become a millionaire and make his company worth 20 million dollars. Unfortunately, he decided to leave the company and he went through a painful legal battle with his business partner. Something that he said that got my attention it was, “When you start a company, you don’t have any agreements if you decide to split, it should be the first thing that should be clear if this happened.”
The 3rdcompany that he created is cloud computer base. The goal is to help those companies to change their operation to a platform that is more manageable and easier to expand without expending millions of dollars in hardware. I was very surprise that he owns 100 % of the company and it is worth 10 million dollars with expecting to grow to be a 20 million dollars in the next 2 years. It was nice to learn that he got a government contract. One of his applications have become the main form that people in Washington state need to fill out to get legal permission to use medical marijuana. And as different states legalize marijuana his platform will be widely use across multiple states. That will bring millions of dollars of revenue to his company as many states adopted his platform.