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The Playbook With David Meltzer

The Journey Back from a $100 Million Mistake

The Playbook With David Meltzer

David Meltzer, Entrepreneur.com

Entrepreneurship, Business, Careers

4.91.9K Ratings

🗓️ 26 June 2024

⏱️ 3 minutes

🧾️ Download transcript

Summary

In today's episode, I share a personal journey of losing over $100 million and the lessons I learned about humility, relationships, and self-awareness. After achieving great success, I faced a devastating financial loss due to surrounding myself with the wrong people and ideas. I explore how the company you keep influences your life trajectory, using my own experiences of nearly losing my marriage and finding my way back. By reassessing who truly adds value to my life, I've learned to curate my circle carefully, ensuring that those around me feed my growth rather than drain it.

Transcript

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0:00.0

This is Entrepreneurs the Playbook, where each week I bring you some of the greatest athletes, celebrities, and entrepreneurs to talk about their personal and professional playbook to success.

0:12.0

I lost everything because of the lack of humility,

0:15.7

because I forgot to take stock and who I was

0:18.8

and what I wanted to become.

0:20.4

And it was interesting, people asked me, how the hell it is someone that's so educated and had such business success?

0:27.6

How do you lose over $100 million?

0:29.8

How do you go from that high up? Someone that, I'm not a football player, you know

0:35.0

know I'm the one who is helping all the players not go bankrupt how how does that

0:40.5

happen and it was simply I surrounded myself with the wrong people and the wrong ideas.

0:48.8

And so I started looking at the criteria of what that actually meant when Napoleon Hill said you're the aggregate of the five people that you spend the most time with.

0:57.0

I went beyond what he was teaching. I said to myself, who feeds me and who bleeds me and then determinative upon who feeds me and who bleeds

1:06.9

me is how relative are they to me because for example I'm sure your children bleed you,

1:14.0

and I'm sure we bled our parents.

1:16.2

Well, we're so relative to them

1:18.1

that it's a joy to be bled by your children.

1:20.4

It's just like I believe it's a joy to be bled by my mom now that she's 80 and so relativity became a criteria

1:27.4

After I determined whether somebody was feeding me or bleeding me and then this the third component was association that was

1:33.6

association,

1:34.6

that sometimes we're put in association with people

1:37.6

where we have to protect ourselves,

1:39.6

but we're at a cubby hole next to them at work or we're both on the board of directors

1:46.4

of a large company or an organization and so when I was dissecting how I ended up bankrupt, how I ended up making such major mistakes, not just financially, I almost ended up divorced.

...

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