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The Sweaty Startup
379: Why I Sold My First Business For 7 Figures & Started a Self Storage Company
Apr 3, 2024
Entrepreneur Kyle Mathews discusses selling his first business for 7 figures and starting a self storage company. He talks about the risks taken in his first business, transitioning to self-storage, financing and developing a facility in upstate New York, and involving family in financing and investment gathering.
07:22
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Quick takeaways
- Taking calculated risks in business can lead to significant financial rewards and personal growth.
- Leveraging operational expertise and industry knowledge can facilitate success in new ventures, even without initial capital.
Deep dives
Risk and Decision Making in Business
The entrepreneur in the podcast reflects on the risks taken in a previous business venture involving leasing warehouses and box trucks. These high-risk decisions led to periods of extreme discomfort and emergency problem-solving. Despite the challenges, the business eventually yielded significant financial returns, contrasting with friends in traditional jobs, prompting the decision to transition to a new scalable venture in commercial real estate where their operational expertise could be leveraged.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode