This tactic helped a CEO sell his business for $1 million at age 21—here’s how to do it

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John Henry, co-CEO of Loop Car Insurance, used his life's hardships as fuel to start his first company — and found it more advantageous than an MBA. Here's why.

Hardships and setbacks can make it difficult to give 100% at work — unless you find a way to use them to your advantage.

"I grew up born and raised in New York City, and I come from an immigrant family from the Dominican Republic," said Henry, 30. "Seeing my mom and pops constantly struggle to make rent and also meet the financial demands of having four young children ... Being exposed to those pressures made me feel like I really wanted to help out."

After getting fired from his doorman gig, Henry realized he was learning more at the dry-cleaning company than at school, so he dropped out, he said. "Entrepreneurs don't make for good employees," he told CNBC Make It via Instagram, adding a laughter emoji. Pleased with the work, the wardrobe supervisor recommended Henry's dad to NBC's "Law and Order." So Henry created a new dry-cleaning business, hired his dad and took on the television job — leading to more entertainment work, including "The Amazing Spider-Man" and HBO's "Boardwalk Empire.", Forbes reported in 2016. Dry cleaning was never Henry's passion, and it embarrassed him growing up, he said.

 

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