If your business was hundreds of thousands of dollars in debt, what would you do? If you’re like most people, you’d probably figure out a way to throw in the towel, sell off assets and call it a day—after all, not all ideas are winners, right?
But if you ask Todd Palmer what he did, you’d get a totally different answer. Years ago, Todd found himself in a place where he was over $600,000 in debt. He was depressed. He wasn’t sleeping. The bank was about to foreclose on his house, which would leave him and his son homeless.
What did he do?
First, he realized that he had hired all the wrong people. So he fired everybody and started over. That was the catalyst.
“I used to only hire people who had a strong background on paper,” says Todd.