DiscoverMy Worst Investment Ever PodcastAri Gunzburg – Persistence Cannot Solve All Your Challenges
Ari Gunzburg – Persistence Cannot Solve All Your Challenges

Ari Gunzburg – Persistence Cannot Solve All Your Challenges

Update: 2020-12-24
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Ari Gunzburg is a rising new star in personal growth after experiencing trauma as a child and then extreme volatility as a teenager. As an award-winning international speaker, Ari motivates people using personal stories filled with triumph, tragedy, and transformation. Ari also helps inspire people using one-on-one coaching and his books for both children and adults. New in 2020 is his debut non-fiction title, The Little Book of Greatness.

 

“If something truly isn’t working, the sooner you realize it, the better off you are.”

Ari Gunzburg

 

Worst investment ever

Ari used to deliver a book called The Advertiser while growing, a small book full of advertisements from the community businesses and delivered to every home in Baltimore.

Starting his own book of advertisements

As a young man, Ari had a dream to start a similar book, and the opportunity came when he moved to Cleveland. He reached out to the people running it originally and made an offer, and they accepted.

Ari started working on the book, and he put everything into it. He went knocking on business owners’ doors, trying to sell them to the idea of advertising in the book. In Baltimore, all the business owners believed that they needed to be in the book because that’s where people look to find out what is going on.

In Cleveland, though, things were different, and the business owners needed some convincing.

A poor start

The book’s uptake was not encouraging, but Ari persisted and kept trying everything he could to make it work. Things didn’t get better; in fact, they got worse.

Simultaneously, a website that many people in Cleveland went to for information and news was also running an advertising section and charging low advertising prices. The website was giving Ari real competition.

Doing the math and cutting his losses

After three years of giving this book his best and still barely making any money, Ari started thinking about closing it down, but he didn’t have the courage to do it.

One day, Ari spoke with a business coach who asked him to consider a scenario in which his book suddenly became wildly successful, and every single business in town started advertising with him. What’s the maximum amount of dollars that he could make?

Ari ran the numbers quickly in his head and realized that that number was about half a million a year before taking out expenses. This number made Ari realize that it was time to close shop. It was just not enough to keep him afloat.

Lessons learned

Persistence is not about persevering in every situation at all costs

Persistence is about recognizing when you should stick it out and when you should throw in the towel. Being persistent with things that you don’t want to be doing, or that are not working for you, or an investment that’s just losing money is pointless.

Be aware of the advice you’re getting and where it’s coming from

It is good to have sounding boards that can help you process your advice and decide if it is in line with where you truly see yourself going. Always feel free to say no to advice if it does not suit you.

Andrew’s takeaways

Understand the actual market size and potential

As you are researching your business, make sure you calculate your actual market size and income potential. This will guide you on whether you should invest your money and time in that business.

Advice is good, but you must process it

It is good to receive all advice, but you must process that advice and identify what part of it is right for you and which one is not. Welcome advice, but accept that not all of it will come from a place of genuine understanding.

Consider external factors that might affect your business

When starting a business, you must consider external factors that might affect your business. External factors can easily crush your business if you are not aware of them beforehand.

Actionable advice

There are many different businesses that you can start. But before you settle on any, have clarity on what you want to do, how it will help people, and whether or not you can actually make money with it.

No. 1 goal for the next 12 months

Ari’s number one goal for the next 12 months is to finish a program that he is working on. The program is meant to help people reconnect with themselves and rekindle their lives’ magic.

 

[spp-transcript]

 

Connect with Ari Gunzburg

Andrew’s books

Andrew’s online programs

Connect with Andrew Stotz:

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Ari Gunzburg – Persistence Cannot Solve All Your Challenges

Ari Gunzburg – Persistence Cannot Solve All Your Challenges

Dr. Andrew Stotz