Dear partners, friends, and employees: I'm sorry! I want to express my deepest apologies here! It is my failure that has caused everyone to suffer losses, affecting your normal lives and work, and resulting in very serious consequences. In recent days, I know everyone has been looking for me and speculating whether I've fled. At my age, facing bankruptcy, most people might choose to end their lives or run away. Actually, I just wanted to be quiet for a few days, think things over, and then pick myself up and fight even harder, because I must take responsibility for everyone! Being a boss is everyone's dream, but people only see the glamour on the surface. Who truly knows and understands the helplessness and bitterness of being a boss? Only those who have been bosses can empathize! I don't know why I chose to be a boss in the first place. In the past fifteen years, I had many opportunities to pursue various careers, but I chose to be a boss! I knew that choosing to be a boss meant choosing risk, responsibility, and pressure, choosing hard work and toil, and choosing to be misunderstood by others, but I have never regretted it, because it was my own choice. During my fifteen years of entrepreneurship, how many nights did I stay awake while everyone else slept, pondering where the way out was? How many holidays did I spend rushing to see clients, going to the market, or attending meetings and trainings while others relaxed? Even during the Spring Festival, I only rested one day a year. How many times did I have to take responsibility for employees' mistakes and even comfort the wrongdoers? How many times did I have to endure clients' complaints, scoldings, and cold stares while forcing a smile? How many times did I have to swallow my pride and beg for help to ensure employees got their salaries on time when the company faced cash flow difficulties, lying awake all night? How many times did I have to drink one glass after another at business dinners, getting so drunk that I couldn't find my way home? Despite my utmost efforts to run the business, investing all my energy and resources, I still lost, and I also harmed many of my friends and relatives. It is precisely because of my incompetence that we have this result today. I apologize to everyone! Although I have failed and lost everything, I am willing to take responsibility for my failure, and I believe I can stand up again to face it and repay it. Fifteen years ago, I started a business in a small town with 2,000 yuan. Along the way, I have learned a lot of knowledge and valuable experience. I firmly believe I have the ability to start over, and even if it takes another ten, twenty, thirty years or more, I can still build a successful career through my persistence. So please, all my friends and relatives who have paid attention, cared, and helped me, do not be disappointed in me. I will repay everything I owe to everyone in this lifetime. This is the responsibility I must bear as a man, and it is my duty. Reflecting on the experiences of recent years, the root cause of my failure was a problem with the capital chain. As everyone knows, the most important thing in business is to have sufficient funds for turnover, just like blood needs to flow continuously in the human body. If there is a problem with funds, it can lead to very serious consequences. Blind expansion led to financial strain In fact, despite the poor economic situation, my business was doing well. The products I was operating had already been on the right track, and the annual profits were considerable. It was precisely because of this that I let my guard down and launched several new products at once. I thought they would bring substantial profits, but unexpectedly, rapid business growth led to a shortage of funds. Coupled with poor daily management, I had to borrow from banks, and from then on, I carried a heavy burden. Here, I also draw a conclusion: no matter the size of the company or its business scope, the most important thing is not to let debt become a burden. Even if development is slower and the scale is smaller, it doesn't matter. Sometimes a small company makes more money than a big one. Investment failure: lending is a double-edged sword Regarding loans, I think everyone believes that being able to borrow is a skill, and being able to borrow means you have the ability to repay. Actually, that's not the case. Here is my experience: a few years ago, I remember my total loans from banks and personal loans amounted to nearly 3 million yuan. It was precisely these loans that led to my bankruptcy. Because after borrowing this money, I started investing in projects, and every one I invested in lost money, losing everything. I won't go into details about which ones, but in the end, I should have focused on my own main business. If the bank hadn't lent me money or had lent less, I wouldn't have been dragged down by interest later. So I deeply realize: lending is a double-edged sword! I believe all bosses deeply feel the difficulty of repaying loans when they mature each year, which increases the cost of borrowing for us entrepreneurs. Private lending: the road of no return Due to the deteriorating economic environment in recent years, banks have been withdrawing loans and pressuring repayment, forcing me to borrow from private lenders and loan companies to repay bank loans, thus embarking on a road of no return until I was dragged down. During my more than ten years of entrepreneurship, I estimate that the total interest I paid was over a million yuan. How could a developing startup company bear that? Moreover, many industries are now facing operational difficulties, with very low profit levels, and most are in a loss-making state. The problem of difficult and expensive financing is something I think all bosses face! The reason for today's outcome is entirely my own choice. Here, I warn all bosses: never expand blindly, try not to borrow, and don't always rely on banks. Even if development is slower and the scale is smaller, don't get dragged into suffering. During these days, I have been thinking and staying calm. There are rumors that I fled with the money, and various accusations have been made. In that case, I should face it bravely and not give up. I will take the responsibility I should! When you succeed, others only see your success, not the hardships behind it. When you are prosperous and wealthy, everyone is your brother and friend. But when you are in trouble, only a few can help you. When you fall, there are many who will kick you when you're down! This is the reality of society. Even those you have helped, don't expect them to turn around and help you. They will quickly draw a line, fearing you might drag them down! Only a few will ever help you, and in the end, you have to rely on yourself! The glory and praise you receive in success turn into infamy when you fall. So life should be about being indifferent to fame and wealth. Only after experiencing setbacks can you see people clearly! People in their 60s and 70s are still starting businesses. I have no reason not to keep fighting. I'm not even afraid of death, so why should I be afraid of living? Only by living can I have the chance to get up, only by living can I take responsibility, and only by living can I repay the debts I owe in this lifetime! So now I am especially strong and calm. I will work hard to continue fighting so that I can repay all those who have helped me, trusted me, and been implicated by me! I will definitely start over! Let all my friends and those who care about me witness this! I am 40 years old this year. I can withstand the ups and downs of life. Please give me another ten, twenty, or thirty years. One day, I will make those who abandoned and forced me feel left behind, and make those who helped and supported me smile with joy! Finally, I still hope that the friends and relatives who have been implicated can understand and give me time! Please trust me one more time! The above letter is a true story of a distributor known to the author. I hope it serves as a warning to distributors in the industry, especially those intending to expand blindly. Being a boss is not easy; cherish it and proceed with caution. Source: Businessman (ID: htsxy88) -END-