A self-made entrepreneur with an estimated net worth of $214 million explained why quitting alcohol three years ago was the best business decision.
Fred Schebesta, co-founder of financial comparison website Finder, entered the Australian Financial Review’s Young Rich List at #26 in 2020, rising from $193 million in 2019 to $214 million in 2020 despite the Covid crisis.
The 40-year-old took to Instagram on Thursday to celebrate three years, eight months and 20 days of sobriety.
“This was not a difficult decision for me as I was tired of feeling bad the next day and wasting time on being unproductive,” he said.
A self-made entrepreneur with an estimated net worth of $214 million explains why quitting alcohol three years ago was the best business decision
“I’ve never been a big drinker but I still remember the effect it had on me. It was the morning after I had a few drinks at a work event where I was planning to do a 10-mile beach run but couldn’t get out of bed. I had no energy. Then I knew it was time to stop drinking.
“Achieving hyper-success is part of my mission. I want to make the most of my time and be the best person I can be.
“I invite you to trade things that hinder your growth for things that will help you achieve success. What will you stop and start today?’
This The CEO moved from a job at the Pizza Hut call center when he was a college student to running a company with 450 employees in 80 countries.
Daily Mail Australia said in order to pursue bachelor’s degrees in Finance from Macquarie University, it’s important for entrepreneurs to avoid borrowing too much or chasing money to grow a business, despite rising interest rates. level.
The CEO moved from a job at a Pizza Hut call center when he was a college student to running a company with 450 employees in 80 countries.
‘Don’t grow up fast. “I believe in slow growth,” he said.
“There’s a beauty in quality control and taking care of your customers and your team that can be tarnished when companies grow too fast.”
More importantly, Mr. Schebesta said, delaying a good idea is often the key to failure.
‘Don’t quit. “If that’s your goal for 2021 or something you’ve been wanting to try for a long time, don’t put it off for another year.”
‘Don’t live with regrets. If you don’t try, you’ll never know your true potential.’
Mr. Schebesta and his classmate Frank Restuccia founded a digital marketing company called Freestyle Media in 2001.
They then sold and founded Finder in 2006, which became a financial comparison site in 2012.
To succeed, the Macquarie University finance graduate urged aspiring entrepreneurs not to borrow too much to grow a business, despite historically low interest rates. More importantly, Schebesta said, delaying a good idea is often the key to failure.
He suggested at least learning from insiders and setting a deadline to be successful.
“You have to make a full commitment. This does not mean giving up everything at once, quitting your job and investing your savings.”
‘It’s about setting a goal and finding time to achieve it.
“It could be learning about an industry by reading a book, talking to five industry experts, or doing some research.
“Whatever it is, be sure to include a deadline so you have a better chance of meeting it.”
He also recommended seeking help.
‘Don’t do it alone. Starting a business can make you feel lonely, especially if you’re starting your own business. But you don’t have to do it alone,” said Mr. Schebesta.
“Join community groups and forums, attend events, build relationships with people in your industry, and seek help.”
While Mr. Schebesta and Mr. Restuccia initially pay only $1,500 per month or $18,000 per year, success is mostly about sacrifice and little pay.
He suggested at least learning from insiders and setting a deadline to be successful.
Mr. Restuccia previously had a salary of $150,000 as an investment accountant at BNP Paribas.
“Starting a business is not easy and takes a lot of time and effort,” says Schebesta.
“Before you begin, think about what you will sacrifice today to reap the rewards later.
“I missed family gatherings, life events. I put everything in my business. I knew from the beginning what sacrifice I was willing to make.
Source: Daily Mail
