A story about ego, crisis and rebuilding. Opinio Alvarez shares his biggest failure and how he rebuilt his company from scratch.
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Opinio Álvarez Bisonó is an entrepreneur. He founded AutoCare in 1995, a company dedicated to automotive care, and later launched a consulting firm that enabled him to recover after years of financial hardship. His purpose is to pursue conscious entrepreneurship, share his story, and help others avoid the mistakes that led him to hit rock bottom.
Opinion: To me, failure is not about the outcome itself but about the lack of preparation and adaptability in the face of obstacles. Failure happens when you can't learn and grow from your mistakes, when you don't know how to adjust your course, and you fall into the same patterns without learning from past experiences.
It becomes an actual failure when you don't make conscious decisions to face adversity.
Opinio: My life was set up for a career in banking, but a car accident I had in 1993 took me to Miami in search of parts for my vehicle. That's where I saw a business opportunity: importing spare car parts.
That's how AutoCare was born in 1995. It became my life's project. I dreamed of becoming the go-to name in the industry, the first one people would think of when it came to automotive care.
We experienced steady growth for 13 years. I had positioned the company as a leader in the automotive care sector. I was featured in magazines, had strong visibility, and people even called me the "Midas King" because every business I started turned to gold.
Over time, I continued to expand with new branches and even launched a specialized line for cleaning planes, boats, and yachts.
I felt unstoppable. That's when the ego kicked in.
Success made me feel invincible, and I couldn't see that this growth, without structure, reserves, or financial control, was actually its greatest weakness. A ticking time bomb.
Opinio: A lot of money was coming in each month, but around 60% of it was going straight to debt payments: bank loans I had taken out to open more branches.
I didn't change my lifestyle. I kept buying my "toys": a Rolex, a boat, then a bigger one, a Porsche, and then a newer model. I maintained the appearance of success while the business was bleeding. I didn't diversify my income or build any reserves.
I started traveling to other cities, and with that, I began distancing myself from the day-to-day operations. I trusted people who, as I later found out, weren't managing things well at all.
I truly believed the good times would last forever.
The 2008 crisis hits. Several banks in the Dominican Republic collapsed, the dollar soared, and I lost many clients who owned yachts and airplanes—accounting for 10% of AutoCare's income at the time.
Little by little, I began closing branches. This resulted in my annual income dropping from 100% to just 40%. I started selling my cars, watches, and boats.
In 2013, the water and sewer department of Santo Domingo tore up the street in front of our Bellavista branch—the one generating the most income. We had to shut it down.
Opinio: I realized it when I closed the first branch, but I didn't accept it. I thought it was just temporary. Then I closed a second one… and I was still in denial.
The clearest sign that we were failing came when we could no longer meet our financial obligations. I had to pay five banks, but I could only pay three of them. I began alternating payments: one month, I paid three; the next month, the other two. I did that for a whole year. I was still paying but at an unsustainable pace.
But I didn't truly accept it until I was down to just one branch. That's when people assumed I was bankrupt, and the labor lawsuits started.
I went to the bank to restructure my loans. I signed multiple promissory notes and documents—that was my sentence.
What hurt the most wasn't losing the branches; it was losing the illusion that I was in control. That's when I finally understood I had failed.
Opinion: I felt lost, alone, and full of guilt and shame, a mix of anxiety, fear, and frustration. I kept asking myself when I had ruined everything.
I had built my identity on success, and when I fell, I felt like I was falling apart as well. The hardest part was keeping up appearances in front of my family, employees, and friends.
I was utterly exhausted and didn't know how to face the situation. My ego and pride made me resist for a long time, but deep down, I knew my lack of planning and control had caused it all.
From 2015 to 2018, I was overwhelmed and hit rock bottom with my morale, handing out my resume in search of opportunities. Those were times of intense criticism and loneliness, but they helped me rediscover myself.
Opinion: Recovering from failure was a long and painful process. I had to face the consequences, acknowledge my mistakes, and adapt to the new reality.
In 2018, I met some colleagues from Argentina who had the know-how to start a consulting firm but lacked the contacts to open doors. I became that contact and learned the trade.
Clean income started coming in, which helped pay off debts faster.
By 2021, I revamped the business and relaunched AutoCare. That's where we are today, growing more organized and conscious. I had to let go of my ego, accept help, and focus on discipline, humility, and planning to rebuild on solid foundations.
Opinion: I would have stricter planning and a financial advisor to help make key decisions.
I wouldn't let ego or outside pressure dictate my actions.
I'd practice more humility, learn to measure expansion and ensure every step was sustainable. I'd be more cautious with debt and with bringing people into the business.
I'd learn from past mistakes before risking it all again.
Remember, our channels are open for your questions, complaints, feedback, or collaboration at: rich@fuckupnights.com.
Edited by
Ricardo Guerrero
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Let's transform our perception of failure and use it as a catalyst for growth.
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