At one point, entrepreneurs Mike and Kass Lazerow were a day away from bankruptcy. Through their resiliency and moxie, they’ve made lemonade out of lemons. In 2000, out of college with an entrepreneurial spirit, they plunged their life savings of $25,000 into starting Golf.com. What had looked to be their biggest break actually became their financial undoing. At ages 51 and 54, respectively, the Lazerows reflect on their journey with a mix of humility and pride, particularly after selling their next company, Buddy Media, for an impressive $745 million in 2012.
The finish of Golf.com’s tale is one filled with both hope and despair. Almost all of the Lazerows’ resources went into building the golf site. Sadly, that enterprise didn’t flourish as they had hoped. None of them took a salary during those years while they were trying to grow the company either. In the end, Golf.com was sold to Chipshot for an estimated $250,000 in cash and 3 million shares of Chipshot stock. Unfortunately, Chipshot then went bankrupt, taking Golf.com down with its untimely death as well.
The GoFundMe failed launch would have sunk the hope of most entrepreneurs at this point. Where others would have given up on their fledgling concept, the Lazerows spotted an opportunity. When the Round A funding for Chipshot imploded, Mike and Kass made a plan to try to reacquire Golf.com. Together they created an investment consortium and managed to purchase the company back for $500,000. What passion and commitment it took to make their original vision come to life created this remarkable success.
“We had put our whole savings, a combined $25,000, in,” – Kass Lazerow
Their journey as a couple has prepared them with some of the most valuable tools to navigate the unpredictable entrepreneurial landscape. They now support other founders through personal equity investments, sharing their knowledge and resources with those just starting out in business.
“We start things because it’s where we find our purpose,” – Mike Lazerow
Kass Lazerow is the first to recognize that the journey of a Founder is not without its rocky road, bruising moments and bumps in the road.
This resilience is more than a statement of fact, it’s an operating principle and the soul of every great entrepreneur. Mike Lazerow creators stick you for those challenges out there, the real creators.
“Founders need a tolerance for suffering that’s certainly higher than most people today coming into the market,” – Kass Lazerow
Their journey has motivated them to co-author a book reflecting that experience, Shoveling Smoke.
“The best founders learn to love the misery, the suffering,” – Mike Lazerow
Their journey has inspired them to co-author a book titled “Shoveling S