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Entrepreneur Adam Miller shares how he founded Cornerstone and scaled it to over $5.2 billion. He discusses facing tough times, encountering a loan shark, navigating financial crises, making strategic decisions, hiring during crises, and perseverance in scaling a business.
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Quick takeaways
- Taking calculated risks, such as borrowing from a loan shark, can save a company from collapse during financial crises.
- Adaptability, strategic decision-making, and perseverance are essential in navigating challenges and transforming them into growth opportunities.
Deep dives
The Near-Death Experience in 2005
Adam Miller, CEO of Cornerstone, faced a dire situation in 2005 when the company was running out of money. Despite raising some funds, they were still short. In a moment of desperation, Adam had to borrow money from a loan shark to meet payroll. This risky move saved the company from collapse, showcasing the lengths Adam went to keep the business afloat.
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