In this compelling episode of the Inner Edison Podcast, host Ed Parcaut sits down with entrepreneur and architect Lance Cayko. Known for his transparent and insightful approach to business, Lance shares his journey from humble beginnings in rural North Dakota to becoming a successful serial entrepreneur and co-founder of F9 Productions, an architecture and general contracting firm.
Join Ed and Lance as they explore the challenges and triumphs that have defined Lance’s career. From dealing with financial anxiety as a child to navigating the Great Recession, this episode delves into how life’s defeats can be transformed into building blocks for significant accomplishments.
Key Takeaways:
- Lance’s Background:
- Raised in rural North Dakota
- Experiences with financial anxiety
- Influences from “rich dad, poor dad” dynamics
- First job with a general contractor who had a healthier relationship with money
- Path to Entrepreneurship:
- Early exposure to construction work
- Transition to architecture through education
- Impact of the 2008 Great Recession on his career
- Starting the Business:
- Partnership with Al Gore, co-founder of F9 Productions
- Strategies for creating passive income during uncertain times
- The importance of diversifying work and clientele
- Business Insights:
- Challenges and lessons learned from hiring employees
- Importance of transparency and complementary skill sets in business partnerships
- Value of “white glove” service combining architecture and construction
- Advice for Entrepreneurs:
- Importance of starting a business during economic downturns
- The significance of being comfortable with not knowing all the answers
- Recommendations for aspiring entrepreneurs and business owners
Guest Links:
Tune in to this episode for a wealth of insights on entrepreneurship, business building, and turning challenges into opportunities for growth.