# The Rise and Fall of Global Crossing: Insights on Completing the Last Mile
In the late 1990s, during the height of the dot-com boom, visionary entrepreneur Gary Winnick founded Global Crossing with the goal of revolutionizing telecommunications. The company aimed to establish an extensive network of undersea fiber-optic cables, thereby creating a worldwide IP-based communications infrastructure. This ambitious endeavor was based on the conviction that the expanding internet would need a substantial backbone to accommodate the increasing demand for data transmission. While the vision was innovative, it ultimately became a cautionary example of the essential nature of the “last mile” in any large-scale project.
## The Vision and the Execution
Global Crossing’s infrastructure initiative was monumental; the company was set to become a cornerstone for internet connectivity, linking data centers and network hubs across the globe. The timing appeared impeccable, as the necessity for internet bandwidth surged dramatically during the late 1990s. Both consumer and corporate demands for faster, more reliable internet were escalating, and Global Crossing surged to a market valuation of $47 billion, positioning itself as a leader in the telecom sector.
However, the company confronted a critical challenge—without a strong and efficient last mile to connect the expansive infrastructure to end-users, all its ambitious efforts risked being futile. Despite developing extensive network connections, Global Crossing struggled to forge a viable business model. It overbuilt its capacity, expecting unending market demand while failing to properly monetize its infrastructure. By 2001, as the tech bubble burst, the company found itself unable to bounce back. It sought bankruptcy protection in January 2002, carrying debts of $12.4 billion.
## A Cautionary Narrative
The saga of Global Crossing imparts several vital lessons for entrepreneurs and investors alike. The most important takeaway? Early triumph does not guarantee success without effective execution during the concluding phases of a project. In the realm of investments, particularly for growth investors, it’s a stark reminder that enthusiasm should be moderated by realism—at times, it’s prudent to realize profits when excitement is high rather than allowing unchecked ambitions to result in substantial losses.
Reflecting on my own investment experiences during this volatile period, I recall the zeal with which I traded tech stocks, including the often-discussed Global Crossing. While I can’t remember my financial outcome, the experience highlighted the volatility of the tech market and the necessity of completing the crucial steps for success.
## The Importance of Completing the Last Mile
Having transitioned from a structured finance profession to navigating the uncertainties of entrepreneurship, I have learned that finishing the last mile is vital across all sectors. When the safety net of a regular paycheck vanishes, the responsibility for accountability lies entirely with the individual. Building infrastructure, holding meetings, and generating income all hinge on the successful execution of every aspect of a project.
In larger corporate settings, some relief from the pressures of follow-through may exist. Mandatory leave can result in minimal disruption, and absences might go unnoticed. However, for entrepreneurs, retirees, or solopreneurs, the necessity to complete the last mile is not merely important; it’s essential for maintaining one’s livelihood.
## The Personal Cost of Unmet Goals
Recently, I faced a personal shortcoming in completing the last mile that underscores this principle. While promoting my book, **Millionaire Milestones**, I provided a unique opportunity for a 1-on-1 financial consultation to readers who purchased a specific number of books at a reduced rate. Although I engaged with a client who demonstrated interest, I forgot to send a calendar invite for our scheduled meeting. Upon returning from a trip, I belatedly recognized my mistake. The oversight was frustrating—miscommunication led to disappointment for someone who had expressed enthusiasm for my services.
This situation highlights a significant aspect of modern life: as we navigate evolving workloads and expectations, the ability to maintain and execute thoughtful follow-through becomes increasingly complex.
## Success Arises from Closing the Loop
Everyone has experienced situations where initial excitement dissipates before reaching completion. Consider the following instances:
1. **Job Searching**: You craft an impressive résumé, research companies, but then fail to submit applications.
2. **Fitness Aspirations**: You invest in equipment and hire a trainer but struggle to follow through.
3. **Launching a Business**: Plenty of ideas abound, yet a lack of action results in no launch.
4. **Publishing a Book**: Drafts accumulate dust without pursuing publication.
5. **Investing**: Insights grow, yet funds remain stagnant instead of flourishing.
6. **Education**: Ambitious plans falter due to momentary distractions, leading to missed opportunities.
7. **Relationships**: Excellent opening lines are created but never spoken, preventing connections from forming.
8. **Financial Planning**: Plans created linger without execution, causing regrets in later years.
The journey to success is seldom straightforward, and the final leg often dictates whether