$100 Million in Debt at 62
Published
Thursday, August 08, 2024
by
Ray Edwards
What would you do if you found yourself over $100 Million in debt at the age of 62? Would you just wait to die, and let the living deal with the aftermath...Or would you start digging yourself out of the hole?
In this episode, I want to share the story of Karl Eller. It's a quick story with a powerful message about mindset, possibilities, and not giving up. It's also a great reminder about the thing we tend to see as a handicap, age, and how it can give us an incredible power - Experience.
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- Karl started work at an outdoor advertising company
- After learning and building for 16 years, he sold his company to Gannett - the company that owned USA Today
- He spent 3 years running Columbia Pictures
- While looking for something to do, Karl and a small group of investors decide to get into the convenient store business
- He built Circle K to be the 2nd biggest chain of convenient stores in the world, second only to 7-11
- Circle K began losing money, eventually costing Karl his entire personal fortune (over $500m), and leaving him $100M in debt.
- Karl headed back to Arizona where he purchased a small outdoor advertising company
- In 5 years, he was able to sell that company to Clear Channel Communications for over a billion dollars
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Ray Edwards
Ray Edwards is a world-renowned copywriter and communications strategist, writing for some of the most powerful voices in leadership and business including New York Times bestselling authors Jack Canfield and Mark Victor Hansen (Chicken Soup for the Soul) and Tony Robbins. Ray is a sought-after speaker and author, hosts a popular weekly podcast, and blogs at RayEdwards.com
Hi, I'm Ray Edwards
Bestselling Author
I teach thought leaders, entrepreneurs, and business owners how to write the words that sell their products, services, and ideas.
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