He owed more than a million dollars and was too ashamed to tell almost anyone. Today he runs a multi-million-dollar business.Tim Duggal built OzMobiles from a second bedroom in St Kilda, buying and selling second-hand phones out the front of his apartment building, into a multi-million-dollar phone trade-in business. But a few years ago he borrowed a million dollars, felt rich, and watched it nearly take everything. A bank manager told him he was in a death spiral. In this episode he's open about the debt, the isolation, the shame he had to drop to survive, and the chance meeting at a 70th birthday party that turned it around. Along the way he makes the case that the relationship you have with yourself is the one that decides how the business goes.

0:00 The bedroom hustle that became a multi-million-dollar business

3:41 The slightly dodgy phone trade he ran from his apartment stairs

6:14 A doctor dad, a lawyer brother, and him selling second-hand phones

20:00 "I borrowed a million dollars and felt rich"

22:16 Waking up owing $20,000 before getting out of bed

29:48 "You're in a death spiral." What his bank manager told him

32:12 Why he refused to take the easy way out

35:01 The 70th birthday party meeting that changed everything

41:46 The leadership skill he learned at rock bottom: actually listening

55:03 The one relationship that decides all the others

This episode discusses debt, isolation and mental health. If it resonates, support is available in Australia through Lifeline on 13 11 14 or Beyond Blue at beyondblue.org.au.

Connect with Tim over at https://www.linkedin.com/in/tim-duggal-a596b039/

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Or Linked In - https://www.linkedin.com/in/daniel-moussa-thirdway/

And if you need help to find the hire that will completely change your business reach out over at https://www.thirdwayadvisory.com.au/

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