Mr. Tyler King is an entrepreneur, who ascribes to the idea of innovation and achieves everything that he ever dreams of. In this interview, We have asked a couple of interesting questions about Tyler King’s success journey and the struggle they went through.
Tell us about yourself?
I’ve always been somewhat of a creator. I enjoy making things, building things, and establishing things. Whether these or physical or virtual, professes or products, I’ve always enjoyed the process of making something new.
It’s kind of empowering if you think about it – according to physics, everything tends to move from organized to disorder, never backward. So making something come together is really fighting back against the natural order of the universe.
So entrepreneurship comes naturally to me. Of course, that is not my only passion, but it is a major one that defines me as an individual.
2) What sets you apart from other professionals in your field?
It’s funny how the news will label things sometimes. One of my favorites is that I am untraditional. I’ve also been labeled as unorthodox. And I guess I kind of like that in a way.
It means I am doing something different than others and makes me unique. What really sets me apart is how I approach problems or complex issues.
I have brought my own methodology to the consulting firm which I led – the most notable approach I use is a bottom-up approach. Rather than starting at the top and working backward, I go all the way to the bottom, the source, to really understand what is happening in an organization.
It’s surprising to many how often some people believe that a problem exists for some reason, but find out later that the issue resulted from a much different root cause.
This is typical in a consulting engagement with us. I’ve found that coming into a new organization, using a special blend of psychological approaches and people oriented processes, you come to many different conclusions than when looking at things from the top, in a systemic way.
This is probably a way that I, as well as my firm Assuras, differ from other professionals in our consulting space in the market.
3) How much potential market share can you achieve in the next 3 years?
Assuras has been growing rapidly and we have seen many impressive breakthroughs with our clients. Accordingly, I expect that we will continue to grow at our current rate, doubling our market share every 24 months.
If things keep going according to our projections, this exponential growth will not slow, but will actually increase. I have high hopes for our current outlook.
4) What was the most important part of your professional journey?
I always tell other entrepreneurs whom I mentor that the concepts of value and failure are the two things you must learn above all else.
The concept of value is everything for an entrepreneur. Understanding what creates value and perception is everything in our world. However, one of the most important parts of any entrepreneur’s journey is failure – more accurately put, learning how to fail.
This is incredibly important. Not only is failure something that will happen, but it is also important to go through the process, accept it of course, and then learn from it.
The most important thing to remember is that success is built from a solid foundation of previous failure. And it’s important to learn how to fail correctly, so you aren’t injured too badly in the process. I call this failing right.
5) What are the best and worst purchases you’ve ever made?
I’ll start with the worst first.
The worst purchase I ever made for myself was when I bought a boat. It was beautiful, twin jet engines, incredibly slick and had all the latest technology. But it depreciated quickly, was anything but an asset – being a liability overall, and used very seldom.
You’ll probably not guess that my best purchase was also the very same boat. I realized with all these drawbacks, that many people would come to the same conclusion that I had. Accordingly, I created an opportunity to capitalize on my own negative situation and turn it into something valuable.
I took this boat and sold it to an LLC I created (at a heavy loss of course), then created a rental company. It was unique because there were not really any high end performance boats in this class available for rent. Many people who wanted to this level of luxury went ahead and made the purchase and went through a similar experience that I did.
They hated boat ownership and used it rarely, ending up selling it at a heavy loss as to what they originally paid for it – and the cycle continued with the buyer after buyer.
So I went behind, buying up all these boats, and renting them back out to the same people who wanted the boating experience without the ownership and maintenance hassle.
In turn, I created a new niche market that didn’t exist and was able to grow to own a fleet of high-performance boats which turned a heavy profit every season. Personally, this was the worst purchase I ever made, but professionally, one of the best.
6) What takes up too much of your time?
Emails and social media – I highly advise anyone who is considering starting a company to look at having a social media manager who handles this aspect of the business. It can take valuable time away from you – delegation is key.
Hire the right people to represent your brand and focus on the growth aspects and bring in quality people to do the work that needs to be performed.
7) What three pieces of advice would you give to college students/new startup business owners who want to become entrepreneurs or leaders in the field?
I believe I have given some of my favorite pieces of advice already, let me recap two and then introduce a quote that sums up a third thing I believe is essential.
First, understand that failure will happen. It does happen and it’s important to not try and avoid it. Mitigate the risks of course, but accept that failure will happen on the way to success.
Entrepreneurship is about experimentation. You are essentially running an experiment that never ends, trying something to see if it produces a better result, implementing it if it does and if not, then you learn from the experience and try again.
Also, you must learn to see things from a value point of view. You are your company’s best salesman. As a leader, you have to sell your ideas to others and bring them on board to follow you.
As such, you need to learn to market your ideas in a way that others find valuable. Value is central to everything in business. Lastly, I’d like to share one of my favorite quotes. It goes like this: Every man is my superior in some way, in this I learn from him.
It’s by Emerson and this is how I approach life. Everyone has some skill that they are better at than you. I’ve learned my best sales skills from a homeless man, the best chess moves from a prisoner, and some of the most valuable insights into life from an individual who is considered by all scales to be mentally impaired.
All these people were superior to me in their own ways. Don’t ignore what someone may be offering you just because you may feel superior to them, because I promise you, every single person on this planet is better at you than something. So go out and learn from anyone you meet. Best ideas and insights come from the most unexpected sources.
8) Who has most impressed you with their accomplishments?
I would like to say I look up to all these business Mongols who have created incredible empires in their own right – I honestly give a ton of respect to some of these amazing people. But the people whom I am most impressed by are those who overcome adverse situations and turn something negative into a positive.
We don’t get much power over the situations we are placed in life. We only get to respond to them and as such are defined by our decisions. These people are who impress me the most and have had the greatest impact on my life.
9) What drives you to keep going when it’s really tough?
I believe that we are defined as humans not by doing what comes easy, but by what is hard and challenging. As such, it is this concept that keeps me going. I want to be remembered as someone who fights through the challenges and does what I believe is the right thing to do, as I will be defined through my failures.
I try to approach every situation as if it were my last decision to make living this life, and that makes me desire to give it my all. Always give your best in anything you commit to. It pays off in the end.
10) How should people connect with you?
I’d be lying if I said I personally review all my social media personally, but if you feel like you want to connect with me, send me a message through any of my social media accounts or websites and it will make its way to me. I also mentor entrepreneurs and business leaders in a professional capacity.
Feel free to reach out. I’m always looking for incredible people to partner with.