How The Mighty Fall - 5 Stages Before A Company Goes Bankrupt
Valuetainment
Valuetainment Episodes
4.8 • 1.7K Ratings
🗓️ 5 October 2022
⏱️ 14 minutes
🧾️ Download transcript
Summary
In this video, Patrick Bet-David breaks down how the biggest businesses go bankrupt and what you can do to prevent it.
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0:00 - Start
1:59 - Stage 1 - Hubris Born Of Success
3:06 - Stage 2 - Undisciplined Pursuit of More
4:29 - Stage 3 - Denial of Risk and Peril
5:23 - Stage 4 - Grasping For Salvation
6:37 - Stage 5 - Capitulation To Irrelevance or Death
10:17 - 5 Qualities Of A Great Employee
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Transcript
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| 0:00.0 | Love being successful is hard, but to stay successful is super, super hard. |
| 0:05.3 | Matter of fact, just recently I finished the book by Jim Collins, |
| 0:08.1 | not good to create a different one that I want to share with everybody. |
| 0:10.2 | I think everybody in today's economy has to read this book. |
| 0:13.0 | He doesn't talk about the keys to success. |
| 0:15.8 | He talks about the five stages that entrepreneurs, business owners, |
| 0:20.4 | CEOs go through that eventually causes them to go out of business, |
| 0:23.7 | and we're going to talk about that today. |
| 0:30.9 | We're about to go out of business. |
| 0:35.0 | I'm panicking. |
| 0:35.7 | This is how much money I've got in savings. |
| 0:37.5 | My employees are complaining about this. |
| 0:39.0 | I'm going through that whether it's real estate, |
| 0:40.5 | it doesn't matter many different industries that they're calling me, |
| 0:43.5 | but the book explains five stages. |
| 0:45.9 | Let me share with you what prompted us to want to make this video. |
| 0:48.0 | So many business people today that we're consulting or calling us, |
| 0:51.3 | talking about Pat, I think we're done. |
| 0:54.1 | I don't think we can do anything else right now to save our business. |
| 0:56.6 | And I'm telling you right now, 90% of people who say that, |
| 0:59.9 | you're not done yet. |
| 1:01.7 | Stage number five, for some of you that are there, you are done. |
... |
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