Major Career Learning Experiences
In his career, Dr. Johnson has also made investments that have both made and lost millions of dollars. Fortunately, although his batting average for new high growth start-ups is less than .500, his home runs more than make up for it.
Through his start-ups, angel investing, and real estate investments, Dr. Johnson has amassed a substantial personal financial net worth. But to say the least, it was not easy.
As a serial entrepreneur and investor, he has embodied the motto: “if at first you don’t succeed, try again” as most of his major successes have been preceded by a prior failed experience in the same industry.
1st Major Career Learning Experience
With his early success and a lot of zeal came an early failure. At age 21, he went bankrupt with his first business failure.
However, he thought of a unique model from his failed experience and launched a new business in the same industry but changed a few variables and retooled it.
This business allowed him to finish his Bachelor’s degree in Business Management and Economics and earn his MBA in Executive Business Management while making more money per summer as a full-time college student and collegiate athlete, than most households made in a year.
Joe then sold this business and later paid off his former creditors of his prior failed business because he could and he wanted to, despite having no legal obligation to do so.
2nd Major Career Learning Experience
Later, Joe launched a business magazine that was initially successful but after he made a leadership change, the magazine began to lose money and eventually he had to get back involved just to shut it down properly.
However, this experience served as the foundation that helped him develop the unique business model that brought SUCCESS Magazine out of bankruptcy from a previous owner. Prior to its bankruptcy, SUCCESS Magazine had over a one hundred-year history going back to the 1800s with owners like Alexander Graham Bell.
After the effective turnaround, the legacy of SUCCESS Magazine spanning three different centuries, was not only saved, it was sold for millions of dollars in 2007 and continues to be published today (www.Success.com).
3rd Major Career Learning Experience
In 2004, Joe launched an organization that acquired millions of dollars in commercial real estate assets. But then came the credit crisis of 2008, which collapsed Bear Stearns, Lehman brothers and nearly shut down Bank of America. His real estate organization also failed as a result of the credit crash and was not able to recover.
However, just like his former learning experiences, Joe was able to learn from his mistakes, make some key strategic and model changes, and get back in commercial real estate industry.
This time, Joe launched a completely different organization in the same industry with a different model, variables and an incredible team. In turn, this retooled model became a success and ultimately led to the development of Welfont and its affiliate companies, which now is one of the fastest growing real estate organizations in the country (www.Welfont.com).