Rebuilding from Rock Bottom: How to Recover From a $10M Loss | Avi Houllou, CEO at iBuy | S1 E13

On today's episode of Momentum, we hear from Avi Houllou, President and CEO at iBuy, a global electronics distributor of products from Apple, Sony, Dell, and more. Avi shares his remarkable business journey, which includes his once-thriving business going to zero overnight. Join us as Avi tells the story of how he soared to new heights, what he learned from that harrowing experience, and the #1 most important factor when running a business. 🎙️ Momentum is a podcast dedicated to inspiring and empowering the next generation of entrepreneurs and community leaders. Each episode features in-depth conversations with successful individuals from various industries, who share their stories, challenges, and advice to help you on your journey to success. Whether you're young or old, starting out or looking to grow, Momentum provides valuable insights and inspiration to help you build your path forward. We release a new episode every other Friday and tons of clips on our Instagram account. Be sure to subscribe! ⁠Follow us on Instagram⁠: https://instagram.com/momentumpodcast_ ⁠Subscribe on Spotify⁠: https://open.spotify.com/show/1jOPoArXfY3OU5uv4BpA3h?si=714ee022d7b54662 (00:00) Intro (01:25) What do you do? (03:10) First jobs (5:45) What gave you the courage to start your own company? (07:12) What was it like growing the company? (09:52) Setbacks faced while growing company (14:23) Getting into the wholesale business (16:02) Apple approaching Avi to work together (22:28) Losing everything and rebuilding (27:12) How did you build back after losing it all? (30:43) Importance of community activism (36:46) Advice for young adults who are scared to follow their passion (39:48) Momentum Moment and closing advice (43:19) Outro