What do you do when you've spent your entire career in one industry, and then in an instant, it's over?

Such was the case for Scott Ringlein. In 2008, he was a chief engineer for a Fortune 500 auto supplier and was responsible for global product development and launches. In addition to the U.S., he had staff in Europe, Asia and South America.

But one Monday morning in June when he arrived at work, Ringlein and thousand of others were told it would be their last day. The Million Mile Flyer was jolted to Earth by the news. He did not have a chance to clean out his office or say goodbye to employees.

Instead, the single father of two children, ages 13 and 8, who had two mortgages, was suddenly without a car, computer, phone or job.

Ringlein joins Talking Business Now host Kelly Scanlon to explain how the end of his career in the automotive industry was actually the beginning of the greatest experiences he's had, including founding five different companies.

Ringlein, who was raised as a farmer and educated as an engineer, founded his most recent company, The Energy Alliance Group of North America, in 2011. EAG develops and deploys solutions to global energy, waste and environmental challenges, including helping businesses find innovative financing solutions so they can implement energy efficiency upgrades. Ringlein is also a technical advisor to the U.S. Department of Energy and conducts technical reviews of applications for technology innovation and commercialization.

Listen in as Ringlein talks about how he's grown his business and shares the lessons he's learned from his experiences as a serial entrepreneur, including:

• The power of networking.


• The importance of having a mentor


• Why you must accept the fact you can't do everything if you wish to be truly successful


• Being ready to change your business plan.


• The importance of developing and documenting processes in order to scale—and learning how to adapt them on the fly as your business grows.


• Why collaborating with competitors is a better strategy than competing directly with them.


• Diversifying income streams.


• Don't give up!


• Taking pride in doing good while doing well.

CONNECT WITH SCOTT RINGLEIN

Twitter: @NRGAllianceGrp

LinkedIn Company: https://www.linkedin.com/company/the-energy-alliance-group-of-michigan

LinkedIn Personal: https://www.linkedin.com/company/the-energy-alliance-group-of-michigan

Learn more about your ad choices. Visit megaphone.fm/adchoices