Kenny Tran to Learn & to Share

From Chapter 1 - Secrects Of Millionaire Investors

Biting the Bullet & Declaring Bankruptcy

Finally, after listening to my wife’s advice, I decided to put my pride aside and took the painful decision to bite the bullet and to (gasp!) downgrade. We sold the car and took the bus. We squeezed into a three room flat and sold off our precious things that we didn’t have space for. We adjusted our lifestyle and prepared for a life of poverty. Finally, she advised me to take bankruptcy as an option as opposed to a life in debt.

It was the worst thing I could do but the best advice I ever had. Looking back, I wouldn’t be writing this book had I not been forced by my wife to swallow my pride and grovel for a living. And that is just what I did.

As a 36-year old former Managing Director, former GM of a leading leisure group, former Executive Producer of the country’s (and possibly region’s) second most successful production house and former top independent Producer, I was now over experienced, under-qualified, approaching middle age and worse of all, bankrupt with over $170,000 in debt. Who would hire me now, in the middle of a full-blown recession?

Picking Up The Pieces And Starting All Over Again

‘Success is not about how hard you can hit but how hard you can GET hit and still keep moving forward’. - Rocky Balboa in the movie ‘Rocky Balboa’

I decided that if no one would give me a job, then I would just have to create one for myself. I went back to my roots and picked up several books on design and taught myself how to edit video and audio. As I learnt this new skill, several old clients from the past kept faith in my abilities and kept a constant flow of work coming to help me out. I churned out the work from my humble home and ran my small freelance business with low or no cost.

The wife, needless to say, became the breadwinner and sole motivation for my comeback. One of the clients to bring a steady flow of work in for me was none other than my co-writer, Adam Khoo. I soon learnt, by producing a lot of Adam’s materials, the importance of self-belief and the power of a positive mindset. I learnt that while I could not change the past, my destiny was within my control. I thought very hard about my future and started to set the goal of not only paying back my debts & getting discharged from bankruptcy, but to become a millionaire.

After setting these huge goals, I realized that at the rate I was going, there was no way I was going to achieve financial freedom. If I continued to run my one-man design operation, it would have meant working well into my retirement. But as things were, it was already tough as a 40-year old competing with twenty-somethings in a fast shrinking (media) market; I had to completely rethink my life. But there was no other way I was going to bring the bacon home because after 20 years, media production was all I knew.

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