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How to Grow a Successful Business and Diversify in Real Estate with Kyle Klitzke
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Kyle Klitzke is not a pharmacist, but he successfully runs a pharmacy! What is his secret sauce for growing his business? In this episode, Kyle will speak on how to start and grow a successful business, the challenges he faced in the first year of his business, and the mindset that helped him overcome every struggle.
Our conversation also zeroes in on how to diversify in real estate. Kyle learned that most pharmacists and healthcare professionals find it hard to invest or start a business because they can’t get up from behind the counter to explore other opportunities. Listen now and glean from Kyle’s entrepreneurial journey!
Key Points from This Episode:
- Kyle Klitzke’s childhood and educational background.
- How Kyle was able to buy a business at 24 years old with no assets and a huge student loan debt.
- Hard lessons Kyle learned in business acquisition.
- Kyle’s mindset that got him through the challenges he faced in running a pharmacy business although he was not a pharmacist.
- Not being a pharmacist was a drawback, but Kyle saw it as a benefit and opportunity to focus more on growing his business while he hired a pharmacist to stay behind the counter.
- If you want to diversify, don’t abandon your main business that generates money.
- Find out your value per hour and prioritize the things that yield a higher return on your time.
- In real estate investing, you don’t have to learn everything. You can do syndications and earn passively.
- Kyle learned about investing in syndications through Dr. Jeff Anzalone (Link below on our episode with Dr. Anzalone).
- Books and podcasts that have educated Kyle about business and investing.
Tweetables:
“There’s tons of opportunities in pharmacy, you just got to get up from behind the counter and go get them.” [00:22:50]
“When you don’t have a plan B, plan A has got to work. You just have to keep working on plan A until something changes.” [00:28:41]
“Don’t quit letting the main thing be the main thing.” [00:38:17]
Links Mentioned:
Episode 7 - Ways to Achieve Wealth and Financial Freedom with Dr. Jeff Anzalone
The Millionaire Next Door (book)
Craig Groeschel Leadership Podcast
About Kyle Klitzke
Kyle Klitzke is the founder and owner of Community Pharmacy. They currently have 2 retail locations and a long term care division. Unlike most pharmacy owners, Kyle is not a pharmacist. He has a degree in Chemical Engineering from Louisiana Tech University and also pursued his MBA from Auburn University.
Kyle's goal has always been to be an entrepreneur and that goal was achieved in 2005 when he acquired Tri-Care Home Medical, a medical equipment supply company and pharmacy. Since 2005, he has acquired and sold Tri-Care Home Medical, started and sold MedNurse, a nurse staffing company, started and sold SanoCare, a wound care company, and started Community Pharmacy. He devotes mor
The main sponsor of our podcast is Rx Real Estate Investment. They make everything we do possible, and our conversations and interviews would not be available without their support. If you want to diversify your retirement portfolio and get into commercial real estate investing, working with Rx Real Estate Investment may be a great match for you. Check out the website at www.rxrei.com.
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