$100 Million in Debt at 62

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 possibilities, and not giving up. It's also a great reminder about the thing we mostly see as a handicap, age, and how it can give us an incredible power - Experience.

Key Insights

• 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

Video And Transcript

https://www.rayedwards.com/665

Links

Karl Eller on Wikipedia

How You Can Help

Subscribe to the show in Apple Podcasts or on Spotify, and give us a rating and review. Make sure you put your real name and website in the text of the review itself. We will definitely mention you on this show.

Questions or comments?

Connect with Ray on Facebook, Twitter, and Instagram

Visit Ray's community on Facebook – This is a friendly group of writers, entrepreneurs, and coaches who share ideas and helpful advice.