I remember the first time I took the plunge into entrepreneurship. I’d been working a cushy corporate job, pulling in a steady paycheck, but something felt off. It wasn’t excitement or passion—it was just a job. I bet you’ve felt that way at some point too, staring at the clock, knowing deep down that there’s more out there. That’s where my guest, Rich Cruz, found himself years ago. But unlike most people, Rich did something about it. He left his comfort zone, started a business… and then lost everything during the 2008 recession.
We sat down to talk about what it’s really like to build, lose, and rebuild your life as an entrepreneur. Rich’s story isn’t just another “I made it big” tale—it’s one of resilience, grit, and real lessons learned from some serious mistakes.
Here are two big things I took away from this conversation that might just change how you think about your own journey.
Pivoting Doesn’t Mean Starting Over
Rich didn’t start off with a plan to be a business consultant. Actually, he spent over 20 years in marketing before realizing he wasn’t exactly fulfilled. “Is marketing really the only thing I’m good at?” Rich asked himself. That question led him down the path of exploring new options—he went back to school, studied psychology, and eventually co-founded WorkBalance Consulting, a firm focused on helping companies navigate organizational change.
What hit me about Rich’s story wasn’t just that he pivoted careers, but that he took everything he learned from his time in marketing and applied it to his new business. It wasn’t a clean break or a total reset; it was a gradual shift. “I realized I like solving people problems, not just marketing problems,” Rich explained. He didn’t abandon his experience, he built on it.
Key Takeaways from Our Discussion:
- It’s okay to question your path: You don’t have to stick with something just because you’re good at it. If you feel like there’s more out there, it’s worth exploring.
- Use what you already know: Pivoting doesn’t mean starting from scratch. Take what you’ve learned in one role and apply it to your next challenge.
- Start small: Rich admitted one of his biggest mistakes was jumping in too fast with his first business. His advice? Don’t bite off more than you can chew—start small and build momentum.
Bring Your Partner Along for the Ride
One thing that stuck with me from our conversation was how Rich involved his wife in his entrepreneurial journey. After losing their house and cars during the recession, he knew he couldn’t just dive into another venture without making sure his wife was on board. “We sat down on the couch and mapped out what this next journey would look like.” That transparency didn’t just keep them aligned—it made his wife part of the process.
Here’s the thing: starting a business impacts more than just you. If you’ve got a partner, it’s crucial to keep them in the loop, especially when things get tough. “You don’t have to have all the answers,” Rich said, “but you can’t avoid the tough conversations.”
What I Learned from His Experience:
- Communicate early and often: If you’ve got a partner, sit down with them and map out your plans together. It’s easier to face challenges when you’re both on the same page.
- Don’t avoid tough conversations: It’s tempting to hold back when you don’t have all the answers, but your partner needs to know what’s coming.
- Shared journeys build stronger relationships: By involving his wife in the process, Rich wasn’t just creating a business plan—he was building trust and ensuring they were in it together.
Reflections from the Interview
Rich’s journey is a reminder that entrepreneurship isn’t glamorous. It’s unpredictable and sometimes painful. He went from running a successful marketing business to losing everything in 2008, and now he’s back with a new venture, but the scars of those early days still drive him forward.
What stuck with me most was how honest Rich was about his failures. “I’ll never again debt-finance my business,” he said. That’s a lesson he learned the hard way when he borrowed against his house to start a company, only to lose it all when the recession hit. Now, he’s a big believer in starting small and scaling over time.
Here’s What I’m Taking Away:
- Failure is a learning opportunity: Rich lost everything once, but that experience taught him how to rebuild smarter.
- Your network matters: Rich landed his first client for WorkBalance Consulting through his existing network. Relationships you build today might open doors tomorrow.
- Adaptability is key: The market changes, technology shifts, and you’ve got to be ready to pivot without losing sight of your core vision.
- Resilience is non-negotiable: Rich didn’t give up when things got tough. He kept pushing forward, and that resilience is what separates successful entrepreneurs from the rest.
- Plan with your partner: Business decisions don’t just affect you. Keep your loved ones in the loop and tackle challenges together.
Final Thoughts
Talking with Rich Cruz reminded me that it’s not about having a perfect plan—it’s about being adaptable, resilient, and honest with yourself and those around you. If you’ve been thinking about making a change in your career or taking the leap into entrepreneurship, there’s no magic formula. But there is one thing you can control: your willingness to keep learning, keep pushing, and keep involving the people who matter most.
If you want to hear more from Rich and dive deeper into his journey, check out his full episode on Never Been Promoted. It’s a story you don’t want to miss: CRUSH Your Entrepreneurial Challenges: Rich Cruz’s Game-Changing Advice
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