I Made a Mistake That Cost Me Everything. Rebuilding My Life and Career Taught Me These 2 Essential Leadership Lessons.

Opinions expressed by Entrepreneur contributors are their own. Key Takeaways Your past doesn’t have to define your future, but taking accountability and holding yourself to high standards are essential to rebuilding your life and career. Look beyond someone’s past and distinguish between a lack of skills, effort or integrity. Support those willing to learn and grow, but never compromise on ethics. Hire for character and potential, rather than just qualifications or professional accolades. People who have overcome adversity bring a determination you can’t teach. I know what it’s like to have people judge you by the worst decision you’ve ever made. When I was younger, I made a mistake that followed me for years. It ended up costing me opportunities, changing the direction of my life and eventually shaping the leader I am today. The truth is, I was 20 years old and naive. I saw an underground, unregulated industry doing things wrong and thought I could do it better, which is how I began running a gray-market peptide and steroid company. Even though I introduced strict operational standards, like batch-testing, the reality was that it was an illicit industry. The business was shut down; I was handed a federal indictment and eventually received a felony conviction. I lost everything. I took full responsibility, paid a heavy price and spent the best part of the next decade rebuilding my life and career. What I’ve realized is that the experience changed how I think about myself and how I treat others. I know exactly what it costs to cut corners, and I know what it means to need a second chance. Accountability starts with yourself After my conviction, banks wouldn’t touch me, and institutions flagged me. I was left with a choice: I could either let my past define me or spend the rest of my life proving I was better than my worst decision. When I began building new companies, I knew they had to operate to the highest standards. Because of my past, being “good enough” was never an option. I had to prove I was doing things the right way — that my businesses were not only legitimate but could also be successful. I’ve now spent more than 12 years operating businesses in highly regulated medical and telehealth sectors. I expect everyone I work with to meet those same high standards. But accountability has to start with me. As a founder, I can’t expect my employees to take responsibility for their decisions if I’m not prepared to do the same with my own. Second chances don’t mean lowering standards I also had to give myself a second chance. I refused to wallow in shame and failure or let the fear of being judged stop me from sticking my neck out again. I backed myself. I know firsthand how important it is to get another chance. But I also believe people have to take responsibility for what’s gone wrong. The line between giving someone another chance and holding them accountable comes down to two things: effort and ethics. There’s a difference between someone who’s struggling with a particular job and someone who simply isn’t willing to put the effort in. If they’re trying and willing to learn, I want to support them. But accountability is non-negotiable. If someone violates our ethical standards, that’s an immediate dealbreaker. I know that might sound harsh coming from someone who’s needed a second chance himself. I also know that getting a second chance doesn’t mean escaping the consequences of your actions. I had to accept mine before I could rebuild. People can change. I’ve had to prove that myself. But I can’t ignore a serious breach of trust just because I believe someone deserves another chance. My advice to other leaders is to ask whether the problem is skills, effort or integrity. They’re different problems and require different responses. Good people sometimes need a different role If someone has the right attitude, the raw hustle and that chip on their shoulder, I want to figure out where they fit rather than simply letting them go. I call this finding the right seat on the bus for the right people. That’s also why I hire people based on who they are, their character and potential, rather than just qualifications or professional accolades. I particularly value people who have overcome adversity. That’s a kind of determination that can’t be taught. I employ hundreds of people, and I take their livelihoods personally. Their families depend on them, and I believe loyalty has to work both ways. Some employees who joined my businesses a decade ago are still working with me today. Seeing members of my team buy homes and support their families is one of the most rewarding parts of what I do. Second chances can extend beyond the business I didn’t want my belief in second chances to stop with my own employees. I had grit, determination and some luck on my side when I was rebuilding my life and career after my felony conviction. But I know there are plenty of people with the same determination who don’t get the opportunity to prove themselves afterwards. I feel like it’s my responsibility to change that. My faith has also shaped my philosophy about second chances. I believe that people can take responsibility for their past and still deserve the opportunity to build a better future. That’s why I established the Joey Stiver Foundation to support educational, entrepreneurial and second-chance opportunities. One of its initiatives, the St. Dismas Accelerator, aims to give formerly incarcerated adults and at-risk young people access to seed capital, executive mentorship and AI training. I’ve met people who’ve been through incredibly difficult experiences and come out of them with the kind of resourcefulness and determination you need to build a business. The race isn’t over I know some people won’t agree with my approach. They’ll wonder how I can have such strict standards while also believing so strongly in second chances. After everything I’ve experienced, I think both are important. When you’ve been through what I have, you realize you can fail, take responsibility, get back up and build again. I’ve met plenty of people who’ve experienced failure or hardship and started to believe that success is something that happens to other people. But if you’ve got the drive, grit and determination to build something better for yourself, why shouldn’t you get that opportunity? It’s something I remind myself, my team and anyone else who needs a reason to keep going. Why not you? The race isn’t over.