Weldon Long – The Best Way Out of Financial Trouble Is to Sell

BIO: Weldon Long is a successful entrepreneur, sales expert, and author of the NY Times Bestseller, The Power of Consistency-Prosperity Mindset Training for Sales and Business Professionals.STORY: Weldon started his first business a year after he got out of prison. The business grew very fast, and within no time, Weldon began to buying out other bigger companies. In the process, he accumulated so much debt and had to find the best way out of it to avoid bankruptcy.LEARNING: You cannot cheat, lie or borrow your way out of financial trouble. You’ve got to sell your way out of it. “Never give up on anyone. But don’t forget, that includes yourself.”Weldon Long Guest profileWeldon Long is a successful entrepreneur, sales expert, and author of the NY Times Bestseller, The Power of Consistency-Prosperity Mindset Training for Sales and Business Professionals. In 2009, his business was selected by Inc Magazine as one of America’s fastest-growing privately held companies.Today, Weldon Long is one of the nation’s most powerful speakers and a driven motivator who teaches the Sales and Prosperity Mindset philosophies that catapulted him from desperation and poverty to a life of wealth and prosperity.Weldon is honored to have served some of America’s finest companies, including Comcast, The Franklin Covey Organization, The Home Depot, Fed Ex, Tom Hopkins International, Wells Fargo Bank, Owens Corning, and Farmers Insurance.Worst investment everWeldon got out of prison in 2003, and all he wanted was to turn his life around for the sake of his 10-year-old son. So he knocked on doors looking for a job. Finally, he got one as a heating and air conditioning salesman. He turned out to be really good at it and worked for a year saving everything he earned.Weldon started his heating and air conditioning business a year later and hired an operations expert as he knew nothing about heating and air conditioning. All he knew was about sales and marketing, customer service, and risk management. Together, they grew the company very quickly.Throughout 2006 and 2007, Weldon consolidated about five of the larger older companies in town. He took on a lot of debt to do that because he had to borrow a lot of money from the bank. While he had so much debt, he also had these companies that were thriving.Unfortunately, the housing crisis and the recession of 2008 hit, and with his debt record, Weldon’s companies went bust. Weldon took on a lot of debt by buying so many companies and extended himself very precariously financially, but luckily he managed to get through it and avoid bankruptcy.Lessons learnedYou cannot cheat, lie or borrow your way out of financial trouble. You’ve got to sell your way out of it.Learn how to sell at great margins.Actionable adviceDon’t give up no matter how bad it seems or feels or no matter how hard you tried and perhaps came up short. There’s no such thing as failure as long as you understand each setback is a learning opportunity.No. 1 goal for the next 12 monthsWeldon’s number one goal for the next 12 months is to spend more time with family and work less. Businesswise, he recently launched an app called Rehash Leads, so his focus is to grow it.Parting words “Your thoughts are things; think about what you think about.”Weldon Long [spp-transcript] Connect with Weldon LongLinkedInFacebookTwitterWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever PodcastFurther reading mentionedStephen R. Covey (2004), The 7 Habits of Highly Effective People: Powerful Lessons in Personal ChangeChris McChesney, Sean Covey, Jim Huling (2012), The 4 Disciplines of Execution: Achieving Your Wildly Important GoalsAndrew Stotz (2015), Transform Your Business with Dr. Deming’s 14 PointsWeldon Long (2009), The Upside of Fear: How One Man Broke the Cycle of Prison, Poverty, and Addiction