I recently sold Altanx, the first company that I started nine years ago.
The business model was simple – sell high-quality sporting apparel at a reasonable price. While the company itself went through two different iterations (which you can read about in detail in my future blog posts), the aim of the company was always to provide a happy middle ground for customers who wanted nice sportswear without breaking the bank.
THE NUMBERS
Especially in its second form, over the last four years, Altanx represented a huge opportunity for personal growth. During that time, we sold over 290,000 items, generating over $1.5m in sales.
Ultimately, I sold it to one of my family’s companies for a low-mid six-figure sum that represented a win for both sides. For them, 60% of what they paid me was already available as cash within the company and with over $190k in paid for stock, they’ll benefit from their investment in no time. For me, this meant receiving a cash amount equivalent to ~7 years’ worth of salary upfront, but more importantly, meant I could focus solely on growing Video Husky which represents a much better opportunity for future growth.
THE IMPACT
Altanx started as an idea that my dad gave me as a 17-year-old because he wanted me to learn how to run a business and it has hands down been one of the most transformative experiences in my life.
On one hand, there were many positive ramifications. Maturity wise, running a business forced me to learn to prioritize, deliberating and critical thinking, while also showing me the importance of belief through seeing how my actions and desire to build could lead to positive consequences for myself and others. Beyond that, being able to work flexibly and not need a job immediately after college was a godsend.
On the other hand, though, the costs for these benefits were high. Emotionally my self-worth became so tied into the business that my mood would go up and down with revenue numbers. Moreover, Altanx was only ever possible because of my family’s factories – without this connection, there would have been no business, so how much pride can I take from Altanx? Given this major advantage, I put an enormous amount of pressure on myself to succeed and sacrificed a lot of emotional wellbeings to do so. Looking back, only focusing on results meant I missed out on a lot of the joys of the journey – an emotion that I think I experience less of than before Altanx.
The biggest consequences of Altanx came at a social level though. Especially during the years that I lived in Guam, I spent a lot of time alone. While that gave me the opportunity to focus on a lot of personal growth, it also meant I met a lot fewer people and perhaps put unnecessary pressure on the people in my life at that time to be there for me. Working on Altanx in Guam also meant I never moved to New York, perhaps the biggest sliding doors moment in my life. Had that happened, life would be very different to how things have played out so far.
Regrets?
Yet can I really look back with regret?
Life is good now with this being hands down been the best year of my life with so many contributing factors only happening because of Altanx. And that leaves me only feeling grateful.
Grateful for Altanx’s first customers who took a chance on a naïve 17-year-old. Grateful for the friends and loved ones who cared for me during those emotional rollercoasters. For Shelly and especially Marilou, my long time partners in growing Altanx. For my Uncle Jerry, supporting Altanx both as a customer and as a mentor.
But most of all to my dad, for investing in me when there was nothing gain, for defending me even when I attacked him, and for believing in me even when I didn’t believe in myself.