He Eliminated $89,000 In Debt With An Online Business
A year after the debt was paid off, with income from my SBI! business exceeding what I was making with my day job, I went solo.Glenn McAllister
Welcome to A Christmas Carol — SiteSell-style! Each day we’re going to re-introduce one of our successful SBIers and their amazing stories. Like the Ghost of Christmas Past, we’ll revisit these tales of old and see what lessons we can glean.
For this third Christmas story, we’re visiting with Glenn McAllister of www.BackpackingChef.com who, initially, wanted to create a visionary startup selling an innovative product.
More important than that, Glenn wanted to be his own boss. He wanted to have more control over the direction his life and career took, and thought that a startup was the way to go.
He quit his job and, using credit cards, began to invest in his new business.
It was expensive!
Without going into unnecessary details, this particular product took tens of thousands of dollars to develop, and the business plan called for tens of thousands of dollars in inventory.
Glenn spent a year struggling with and fighting to build this new business, all the while racking up tremendous debt. In the end, over $89,000 which, sadly, could not be repaid.
The business failed. Glenn was left on his own to deal with credit card company calls and no income to speak of.
Down, but not out, Glenn returned to his old job, and started to work on a new plan.
He got help from a non-profit to better structure and consolidate his debt. Meanwhile, that’s when Glenn found Solo Build It! and decided to try a different tact toward his ultimate goal.
You see, Glenn never lost sight of that desire to be in control, to own his own business. It just took a different path than he intended. Something a consummate hiker knows all about.
Instead of jumping into another startup, Glenn took a more cautious approach. He became a member of Solo Build It!, started reading the Action Guide and using the tools, and learned a couple of things.
First, from a practical perspective, he discovered a possible niche that was really important to him. As a hiker and backpacker, Glenn was keen to the idea of writing within that niche. And his research showed real interest and potential in “backpacking food” and related topics.
Secondly, Glenn realized that, with the help of Solo Build It!, he could build his own business on the side, while still keeping his regular job and income security.
That was a sound approach for Glenn, and it worked!
At first, income from his new online business simply covered the cost of his Solo Build It membership. But soon, revenues rose enough to cover food and some other costs which gave Glenn a tremendous feeling of security – and hope!
I worked on my SBI! business in my spare time, and income came in gradually.Glenn McAllister
Eventually the income from his Solo Build It! site covered his debt payments, and then completely replaced his full time job! Once again, Glenn quit his job. Only this time, he had a thriving, profitable business in place already to rely on.
Glenn now spends time with his wife (who he met through his online business), hiking throughout the U.S. and Switzerland. He’s enjoying his business and, more importantly, his lifestyle.
All thanks to Solo Build It!.
As we’re whisked away by the Ghost of Christmas Past, back to present-day, overlooking the streets crowded with busy people bustling through the Christmas season, we’re reminded of how important things like family really are.
Just like Ebenezer Scrooge, even we sometimes need to be challenged by such stories in order to truly recognize what’s important to us, and what we need to do to change.
Don’t let another Christmas pass by while your dreams of owning a business fester in your belly like a bit of undigested cheese. Throw open the curtains and renew your lease on life! It doesn’t matter how young or old you are. Now is the time to get started.
With SiteSell’s Holiday Special in full swing, there’s never been a better time.
P.S. When the clock strikes noon on the 29th of December, this sale, too, will be a Ghost of Christmas Past, so don’t wait too long.
Your new business awaits.
Read More Successful Online Solopreneur Christmas Stories:
- How He Went From America-Poor to America Top 3%
- How She Used Her Online Business Experience To Succeed Offline
- He Eliminated $89,000 In Debt With An Online Business (you are here)
- How He Built a Business Around His Passion to Save His Health