Bankruptcy To 6 Figures: 3 Powerful Tips You Need To Skyrocket Your Business

By Doug Bennett with special guest Andreea Sandu

Does it ever feel like you’re pumping more money into your business than you’re getting out of it? Maybe you’re logging in over 60 hours of work each week, yet financial security still feels like a faraway dream.

I’m no stranger to the concept of trying to keep a struggling business afloat. If you’ve been an avid follower of mine for a while (hi there!), you’ll know that many years ago, I pulled myself from the brink of bankruptcy to becoming a millionaire.

Recently, on my Goals Do Come True podcast, I was lucky enough to speak to someone else who had done the same. Andreea Sandu is a high-performance business strategist who moved to the UK from Sicily with only £2,000 in her bank account. Today, she has three successful startups under her belt and is helping other entrepreneurs create fun, and profitable, businesses.

You can hear my in-depth chat with Andreea on the podcast. 

In this blog, we’re going to explore three powerful tips every entrepreneur needs to take their business to the next level.

From bankruptcy to six-figures

As an immigrant in a new country, Andreea had what she describes as an “Alice in Wonderland” moment. At first, she was star-struck, but reality soon hit her when she realised that she barely had enough money to survive. That’s when her journey began. 

Andreea: “ I started working as a secretary in a construction company. My ex-boss owned multiple businesses, one of which was a flower shop which was on the brink of bankruptcy. At the time, there was only £26 on the shop’s books. As a result, he decided to close it down.

However, I asked him to give me the opportunity to grow the business. I guaranteed that he would not need to pump any more money into the shop. And I kept my promise. The business’ finances grew to six figures, and I eventually bought it in full.” 

Andreea’s story is a shining example of what’s possible for many entrepreneurs – if they’re armed with the right knowledge and tools. Not long after she bought the flower shop, she qualified as one of the top 21 florist designers in the world, and bought her first property in London (which, as we know, is no mean feat!).

Here are three tips that Andreea believes were integral to her business and career growth. 

1) Find (and accept) your purpose

One thing that stands out to me about Andreea’s story is that her floristry skills weren’t what drove her to success. While she was an amazing florist, the real driving factor was her business acumen. She showed up every day, not just for herself, but for others within her industry. That was her purpose – although it took a wake-up call for her to accept it.

Andreea: “ Many years ago, I caught my hand in the blades of a blender. My doctor asked me not to work for three weeks to avoid losing my hand to a wound infection. At that time, I had just started studying business management at university, but I still wasn’t sure about my new journey and career path. 

That incident was a moment of clarity because I thought to myself: ‘If I lose my hand today, what would I do? What’s my backup plan?’ 

That’s when it hit me. I’m so grateful for that opportunity because once I discovered my purpose, everything changed. I started setting the right goals and reverse-engineering them to make them happen. Now, it seems like everything I want, I get.”

We all have a wake-up call – that moment of clarity where we realise what we were actually called to do. Sometimes, this newly-found purpose might mean that you have to start from scratch as an entrepreneur. Most times, it could simply mean that you need to explore a new perspective, particularly when approaching your overall business goals.

2) Get used to losses

Andreea: “Business isn’t a fairytale. I recorded lots of losses in my flower shop. I once started selling preserved roses, and initially business was booming. But all of a sudden, it died down.

 It wasn’t because there was no demand for them. It was because I had hired the wrong people. I ended up losing over £40,000. This is just one example of the numerous losses I faced.

As a business owner, there will be losses. We just need to understand how to digest and deal with them.”

As entrepreneurs, we need to constantly check in with our expectations and make sure we’re not building castles in the air. When you understand that losses and failure are a natural part of the entrepreneurial journey, you’ll be able to deal with them when they occur and take the right steps to recoup your losses, which ultimately helps you grow the business.

3) Map out your business goals

Andreea: “I write every single goal down because I’m a strong believer that if you don’t write them down, they will only be dreams. Writing my goals gives me clarity on how to achieve them and the steps I need to start taking from that moment.

I always tell my clients to map out their goals, and I have a formula for this. Try to achieve at least 60 per cent of these goals exactly as you’ve written them on paper. Leave 20 per cent for the magic to happen, and save the last 20 per cent as a learning opportunity.”

In a nutshell

Which of these three tips stands out to you? I particularly like the idea of leaving room to learn from your failures. After all, the full meaning of FAIL is your “First Attempt In Learning!” 

When we make a conscious decision to learn from our mistakes as business owners, we’ll be able to prevent them from reoccurring, which increases the likelihood of achieving our business and financial goals!

If you’d welcome my professional support to help you reach these goals and become financially secure, why not grab a copy of my guide to Work Optional Lifestyle Financial Planning® here?