How Toby McCosker Built and Lost Millions — and What Came After

There’s something surreal about watching millions of dollars slip through your fingers. Not because of laziness. Not because of recklessness. But because you refused to give up. Because you believed in people. Because you put everything on the line to build something bigger than yourself.

My name is Toby McCosker. I’ve built multimillion-dollar companies from the ground up — and I’ve lost them, too. But what came after changed me more than any spreadsheet, award, or bank balance ever could.

The Rise

It didn’t happen overnight. I started in the trenches — not behind a desk. I’ve been the labourer, the site manager, the project director, the system architect. I built teams that delivered high-pressure construction contracts and innovation in security infrastructure. I’ve signed contracts worth millions. At one point, I owned 22 Hiluxes and held real estate assets that made the banks smile.

But I didn’t just build wealth. I built loyalty. I built culture. I put hundreds of families through Christmas, kept apprentices employed through downturns, and carried more than my fair share of the weight to keep things moving.

The Fall

But then the market shifted — and so did the people.

The truth is, in construction, you can be solvent one month and underwater the next. The margins are brutal. Delayed payments from a single client can knock the wind out of even the strongest operation.

And that’s exactly what happened.

A key client held back funds for two months. They knew what they were doing. Their delay was strategic, calculated — and ultimately devastating. While they boosted their bottom line, we spiraled.

At the same time, media narratives exploded. Headlines painted chaos. People I once trusted disappeared. The same individuals who praised the leadership when the money flowed were the first to run when it dried up.

What No One Tells You

No one tells you what it’s like to be the guy everyone blames when it falls apart — even when you were the one keeping it alive in the first place. No one tells you that the system isn’t built for second chances. And no one celebrates the fact that you stayed when others would’ve walked.

I didn’t vanish. I stayed. I worked with liquidators. I cleaned up the mess. I fronted conversations with suppliers, employees, and clients. Not because I had to. But because I believe in accountability.

What Came After

Losing millions taught me more than making them ever did. It stripped away the ego, but revealed the values that mattered: integrity, grit, resilience, and the ability to rebuild. I’ve since taken those lessons into everything I now touch — whether it’s new ventures, mentoring younger builders, or helping others navigate their own storms.

My financial statement today doesn’t define me. My character does. The headlines weren’t kind. The rumors were worse. But I’m still here. Still building. Still backing people who show up and stand tall when it’s hard.

Final Word

If you’re in the trenches right now — running a business, holding a team together, or facing a loss you didn’t see coming — don’t let the numbers tell the whole story. There’s always a path forward. There’s always something to rebuild.

Because sometimes, what comes after the fall isn’t failure — it’s freedom.

More from Toby McCosker

Lessons from the Frontline: Leading Through Adversity
How pressure shaped leadership beyond the job site.

Reputation vs. Reality: What the Media Got Wrong
Why headlines don’t always tell the full story.

Tobias (Toby) McCosker is the founder of Built By Toby. After two decades in construction and business, he now shares raw lessons from the frontline.
Explore more at BuiltByToby.com.au