NGPF Podcast: Tim Talks to Entrepreneur Michael Lyons
NGPF Fellow Steve Penley reached out to me a few weeks back and said, "I have this former student you need to have on your podcast because he has a great entrepreneurial journey to share with you." So, I reached out to Michael Lyons and this engaging conversation ensued. Michael shares how he came up with the idea for a business he started out of his dorm room, how he had to make a decision to turn down business in order to preserve his company's reputation for quality and how Steve's classrooms encouraged him to purse the entrepreneurial path. Enjoy!
- 0:00–1:04 Introduction
- 1:05–10:51 How Steve Penley’s business class inspired Michael
- 10:52–17:09 Michael’s first college venture and his encounter with Warren Buffett!
- 17:10–18:45 The budding of the flower business
- 18:46–23:06 How GlobalPetals developed their niche
- 23:07–26:28 From Apple stocks to Flowers stalks
- 26:29–31:01 Establishing relaciones in Ecuador
- 31:02–34:04 Overcoming his biggest challenge
- 34:05–40:05 Righting the countless snafus that come with start-ups
- 40:06–42:13 Michael’s favorite florists
- 42:14–43:56 Entrepreneurs: born or made?
- 43:57–48:00 Michael’s advice: talk to those who have “been there, done that”
- 48:01–50:31 Next on the agenda: building themed houses
- 50:32–51:55 Conclusion
- Steve Penley (Michael's teacher)
- LinkedIn blog post about Michael's lunch with Warren Buffett
- Example of where Michael's flowers appear
- Designer: Andrew Parravano from Andrew’s Garden in Wheaton, Chicago
- One of his favorite authors
“It’s always good to start a business out of a problem that exists rather just thinking about something that could potentially be interesting… or cool... because when there’s already a problem that exists, you have a market”
Interested in entrepreneurship resources? Check out NGPF's Entrepreneurship lessons, activities, projects, and blog posts