Mike Lloyd: Building Resilience, Distribution, and Cyber Insurance Innovation
“Failure is part of the game. And that doesn’t mean give up as soon as it gets a little hard. I think you do need to be very thorough.”
Mike Lloyd’s entrepreneurial story began with a simple childhood side hustle—burning CDs for friends in his small Michigan hometown. That spark of ingenuity set him on a journey from studying at MIT and Harvard to launching and scaling companies that reshaped industries. In this episode of Forward Obsessed, Mike delves into the pivotal moments that defined his path, sharing the highs and lows of his journey.
He opens up about the painful lessons learned from his first failed startup and how he transformed those experiences into a winning formula for success. Mike reveals the critical importance of mastering distribution, his obsession with solving meaningful problems, and how COVID and Bitcoin propelled his cyber insurance company to the forefront of the industry. Whether you’re an aspiring entrepreneur or simply love a compelling story of resilience and growth, this conversation is full of inspiration and actionable wisdom.
🔎Find Out More About Mike Lloyd:
LinkedIn: https://www.linkedin.com/in/mikelloyddotme/
PineView Insurance Group: https://www.pvig.com/
Corvus Insurance: https://www.corvusinsurance.com
Key Moments
Building Resilience and Revolutionizing Cyber Insurance
Entrepreneurship isn’t for the faint of heart, and no one knows this better than Mike Lloyd. In this episode of Forward Obsessed, Mike candidly shares his journey from selling burned CDs as a middle schooler to building and selling multimillion-dollar companies. His story is one of resilience, constant learning, and an unshakable obsession with solving real-world problems.
The Early Hustler: Burned CDs and Big Lessons
Mike’s first entrepreneurial venture came early. As a middle schooler, he realized no one in his small Michigan town had access to CD burners, so he turned this opportunity into a thriving side hustle. While his friends paid him to burn CDs, Mike discovered the joy of solving problems, a passion that would guide him for life.
Mike reflects: “I’ve been chasing that high of building something from nothing and providing value ever since.”
Failing Forward: The Power of Resilience
Not every venture was a success. Mike shares the pain of shutting down his first startup, including the moment he had to tell his team the company was over. “It was devastating,” he admits, “but failure is part of the game. You learn, adapt, and move forward.”
Mike credits his introspection after failure as a key driver of his later success. One of the biggest lessons? The importance of distribution: “First-time entrepreneurs are obsessed with product; second-time entrepreneurs are obsessed with distribution.”
Cyber Insurance and the COVID Pivot
Mike’s most significant success came with Corvus Insurance, a company he co-founded to disrupt the outdated insurance industry. During COVID, cyberattacks surged as hackers exploited vulnerabilities—and Mike’s company was ready. Corvus scaled rapidly, using technology to stay ahead of rising demands in the cybersecurity landscape.
“The rise of Bitcoin during COVID fueled more hacking, and cyber insurance demand skyrocketed,” Mike explains.
Actionable Takeaways for Founders
- Learn from Failure: Don’t let a failed venture define you—use it to refine your approach.
- Focus on Distribution: Product alone won’t sell itself. Mastering distribution is key.
- Know Your Customer: Understanding customer needs can make or break your pitch to investors.
- Be Resilient: Success often comes after significant setbacks. Stay focused on the long game.
Mike’s journey reminds us that with hard work, resilience, and a commitment to learning, even the most daunting challenges can become opportunities for growth.
Further Reading:
Crossing the Chasm by Geoffrey A. Moore: How innovative technology products can transition from early adopters to the mainstream market by overcoming the critical gap between visionary early users and the pragmatic majority.
Measure What Matters by John Doerr: Explains how the Objectives and Key Results (OKRs) framework helps organizations set and achieve ambitious goals through focus, alignment, and measurable outcomes.
