Ep 03 - It's Never Too Late To Start Your Business with Lyle King
“Money is a tool. And if you have enough money that you don't have stress, that's great. So that lack of stress is great. From a financial standpoint, I don't think you ever get to the lack of stress because health and family and things like that you can't control but lack of stress financially is I would consider for me probably one of the main measures.” - Lyle King
Ashton Levarek talks to Lyle King, an entrepreneur, and investor, about starting a business later in life and discovering paths and opportunities when things don’t work out as planned.
Lyle King began his career in the direct marketing industry and applied that direct marketing background in becoming VP of Sales and Marketing for a national trade association (Automotive Service Association - ASA). During that tenure, Lyle’s efforts led to doubling the membership and tripling the revenue of ASA.
Lyle moved into the Finance and Insurance space in the auto dealership industry from there. After learning the trade employed by one of the large national providers, his entrepreneurial drive led Lyle to create an agency with no revenue at the outset in 1998 that eventually sold for 8 figures to a top 5 national insurance brokerage.
Lyle devotes his efforts to helping his dealer/clients find the best and most effective ways possible to find new customers and to maximize profits per client. He lives in Manitou Springs, Colorado, and is a proud alumnus of Texas A&M University.
[00:01 - 04:01] Opening Segment
- A quick introduction about your host
- Welcoming our guest, Lyle King
[04:18 - 07:06] Reason Why He Started His Own Business
- On having a strong work ethic and good network
- It’s not about being smart but finding smart people to help with the business
[08:36 - 24:21] Road to Success
- From losing investment in a music band to building a marijuana dispensary
- Investing in technology by developing website cookies alternative
[24:54 - 31:00] Things Lyle King Learned from selling his business
- Selling to first time buyers versus Mergers & Acquisitions (M&A)
- Arbitrage explained
[31:24 - 37:54] Closing Segment
- Fun questions with Lyle King
- Wrapping it up!
Key Quotes
“It took a few fortunate happenstances just to find the right thing that I enjoyed and went from.” - Lyle King
“I don't care about being in the marijuana business, but I do care about being in the profitable business.” - Lyle King
Connect with Lyle King
LinkedIn: https://www.linkedin.com/in/lyle-king-8b3a6111
https://www.facebook.com/lyle.king.399/
https://www.instagram.com/lkagsus/
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