Jayson Gaignard – From Totally Broke To Getting Back On Track
Jayson Gaignard was working as a mechanic, when one day he realized that people don’t live forever. That same day he quit his job to start chasing his dreams. He started a company and in a while, he was making millions in sales. Then, because of a bad business partner, things crashed and he got broke. He was totally devastated, but he managed to recover and now he is back on track. Read the amazing story of this young entrepreneur here. The article was originally published on Entrepreneur here.
The Story Begins
Jayson Gaignard felt like he’d been sucker punched. The credit card statement just didn’t add up. He was reading a massive list of transactions charged to his online ticket company, Tickets Canada, and he didn’t remember any of them.
There was a good reason why: He never authorized them. His business partner fled the country and racked up more than $120,000 in tickets on his credit card, selling them under the table and leaving Gaignard holding the bill.
Unfortunately for Gaignard, this was just the beginning of his problems.
After the theft, his company’s merchant payment processor made an inexplicable policy change that locked 100 percent of Tickets Canada’s revenue in a reserve account out of Gaignard’s reach.
Literally overnight, his cash flow evaporated. The processor explained that until they conducted a thorough review of his account (necessary because of a previous error the processor had made), Tickets Canada’s money was frozen.
In just over a month, Gaignard went from $5 million a year in sales to a defunct company and $250,000 in debt for which he was personally responsible since he’d been using his own credit cards to fund most of the company’s transactions. To further increase the pressure, he was raising a daughter born just four months earlier and preparing to get married in just over a month. “There were so many moving parts, and I felt like I was just spinning out of control,” he recalls.
Fast forward three years later and now 30-year-old Gaignard is no longer broke but debt-free and running sold-out MastermindTalks events, an elite, invitation-only summit for entrepreneurs that is designed to connect and amplify the networks of world-class people while also helping founders work on themselves that connect world-class entrepreneurs with invaluable experts. But to say it was easy would be a joke.
‘A Ferrari for a brain but no gas in the tank’