From Broke To $170 Million In Six Months
A high percentage of startups end in failure. What happens to the entrepreneurs behind them, the individuals who sank all their time, energy and money into businesses that ultimately went under? While some entrepreneurs land on their feet, others, like William Nobrega, have a more difficult time recovering.
In early 2014, the American entrepreneur was broke and living in a small, windowless room in Hong Kong after his startup had failed. He had a new business idea, but with all funding options exhausted, there didn’t seem to be much opportunity to make his new idea a reality. But that didn’t stop Nobrega from persevering and working toward his dream.
"As a former member of the U.S. Army Special Forces, I lived by the motto, ’Failure is not an option,’", Nobrega said. "So I did what most successful entrepreneurs have done in the past — I continued to push forward with an unwavering commitment to the mission. We brought on team members with the same passion and dedication, and they have been the backbone of our success. Investors that have dealt with many new ventures can sense intestinal fortitude, which has been critical to securing financing for our new venture."
CQS International, an e-commerce insurance company that utilizes proprietary mobile and location-based technology to generate instant sales, was founded less than a year ago and is already valued at more than $170 million. Nobrega admits that there were "a few miracles along the way" that helped him secure investor funding and get the business going, but none of it would have happened if he had given up on his dream.
"Never quit," Nobrega said. "If you believe, and you really need to believe, then you would be willing to sacrifice everything to achieve the mission. If you are fortunate enough to serve with the right team, they will have the same mentality. You will run into obstacles all along the way, but how you deal with them and how you overcome them will determine your success. A team that’s cohesive will work miracles."
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