Despite losing $2 million due to the dot-com bubble, Jeremy Delk refused to give up and worked hard to overcome adversity. In this episode, Erik Cabral sits down with Jeremy to talk about his journey of embracing failure.
Jeremy Delk is the managing director of Delk Enterprises, a diversified investment firm. He's a serial entrepreneur, with a massive passion for disrupting industries for over 20 years. Jeremy is also the author of Without a Plan: A Memoir of Unbound Action and Failing My Way to Success.
Here are some power takeaways from today’s conversation:
Two major events that shaped his life
How Jeremy is helping small businesses
Things to look for when investing in companies
How to stay motivated and passionate about what you do
Your clients as your best form of information
Two ways to grow your business
Building a personal brand
Episode Highlights:
[06:15] Lessons from Losing $2 Million
Society often teaches that failure is a bad thing, but Jeremy believes that it's where real learning happens, and failure should be embraced. His experience gave him the courage to keep moving forward and pursue his dreams, even if he fails along the way. Looking back, he realized that having lost $2 million actually did so much more for him today in the last 20 years, than the $2 million he would have had. Failure taught him the importance of resilience, perseverance, and embracing failure as an opportunity for learning and growth.
[13:47] Things to Look for When Investing in Companies
When investing in companies, it's important to look beyond the product or service being offered and focus on the founder or leader of the organization. Are they transparent and authentic when discussing their company, or do they pretend to have all the answers? A vulnerable and honest leader who acknowledges their weaknesses is more likely to succeed because they can seek help and collaborate with others when needed. Don't be afraid to show vulnerability and transparency, as this can build trust with potential investors and customers. Life would be easier if more people could do this, but insecurities often prevent us from being our authentic selves.
[29:10] Two Ways to Grow Your Business
There are two main ways to grow a business: acquire more customers or deepen relationships with existing ones. Many people overlook the value of offering premium services to current customers who would be willing to pay more for additional benefits. By having conversations with clients and asking for feedback, businesses can identify areas where they can offer additional value and create tailored, premium services that meet specific needs. This approach not only deepens customer relationships but can also lead to new sales as satisfied customers become advocates for the brand.
Resources Mentioned:
Book: Without a Plan
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Check out this show and previous inspiring guests at Entrepreneurs Circle in Apple Podcasts.
