Some people are natural-born entrepreneurs, willing to put their confidence and money on the line for a product or service they believe in. Motivational speaker Mike Luzio, born on 27th August 1976 in Columbus and American citizen, is one such individual. He grew Industry Retail Group (IRG) from nothing to a business he was able to sell for millions of dollars.
Luzio launched his company IRG in 2003 with two partners. From the very beginning, he used his business acumen, charisma, and hunger to bootstrap the business.
Mike recalled, “I was still working at Sprint when we started IRG. I had no product, no customers, but I managed to set-up a meeting with a prospective client.”
Luzio chose to be honest, transparent, and bold during this critical meeting. He explained, “I’m a salesman at heart. I knew I could persuade them. Even though I was upfront about the fact that we didn’t have any clients yet, they were willing to take a chance with us. They were our very first customer.”
Luzio believes that it’s not just about how you start, but how you finish. He worked hard to build up his entrepreneurship skillset and scale IRG to the company it became. “It’s important to put money behind a young business,” Luzio said. “My partners and I only invested $15,000 in our business at the start. We took equity ownership and used our connections to take IRG to the next level.”
In 2016, Luzio sold IRG, the business he’d built from the ground up, for $50 million after investing that $15,000 originally. Following that success, Luzio founded The LVE Group, a consulting company that is focused on helping entrepreneurs and small businesses grow and succeed. He now works as its Co-Founder and Managing Director to provide investment capital and a strong network to support motivated and successful entrepreneurs.
Luzio also stresses the importance of cultivating your network when launching a startup, asserting that all entrepreneurs should have active connections across a variety of industries. Mike loves supporting the founders of the companies he invests in by activating his network and continuing to leverage his strong network, just as he did with IRG. “I love being a coach,” Mike Luzio shared. “Helping people reach their dreams is my passion. I want everyone to have the success I had and continue to have to this day.”
If you’re interested in building and selling your business like Mike Luzio, it requires hustle, passion, and integrity. Achieving your dreams is possible if you’re willing to work for them.