CarLotz co-founder Will Boland talks about making the leap from investment banking to entrepreneurship, the challenges and benefits of leading a growing company, and what it means to build a life resume.
What you'll hear in today's show:
- How did Will become an entrepreneur?
- What was the inspiration for CarLotz?
- What experience during his work in investment banking gave Will the motivation to become an owner/manager?
- Will is 2nd generation FI. What did his journey look like?
- How did Will present and convince his family that it was a good idea to pursue entrepreneurship instead of continuing with his well-paying job?
- Did Will accumulate significant student loans while completing his undergraduate degree and master’s?
- What is a life resume, and does Will keep track of his?
- What role have mentors played in Will’s career?
- Will has been very open and honest with mentors and co-workers about his specific goals. How does he create an environment at CarLotz to encourage the same from his employees?
- Why didn’t Will’s mentor want to see his business plan?
- What was the thought process when Will and his co-founders could only secure small startup investments?
- What is the advantage of selling a car on consignment?
- What hiccups did CarLotz overcome in their early days of business?
- “If you aren’t embarrassed by the first iteration, you’re launching too late.”
- How does Will encourage employees to share good ideas?
- Why do pursuing FI and starting a business complement each other well?
- How did Will and his co-founders create space to share work-place challenges within their partnership?
- Has Will caught up, financially, to where he’d be if he had continued his job in investment banking?
- Is he happy with where he’s at?
- Does CarLotz need to be a financial success in order to keep Will on track to reach financial independence?
- Why is running Will’s favorite life hack?
Links mentioned during the show: