Michael Ritsema: From Near Bankruptcy to Tech Success & Cybersecurity Leadership
The Entrepreneurial Rollercoaster of Michael Ritsema
The journey to success is rarely a straight path. For Michael Ritsema, CEO and Principal at i3 Business Solutions, the road to entrepreneurship has been filled with dramatic highs and gut-wrenching lows. From nearly going bankrupt in 2001 to building a thriving technology and cybersecurity business, Michael’s story is one of resilience, adaptability, and strategic growth.
In this episode of Direct Or Detour, we dive into his experiences navigating economic downturns, business partner drama, and the ever-evolving world of technology. Whether you’re a business owner, aspiring entrepreneur, or someone navigating career challenges, Michael’s insights on sales, risk management, and business development are invaluable.
Michael Ritsema’s Entrepreneurial Journey
Michael’s entry into the world of technology wasn’t planned. Initially working in sales, he transitioned into tech after being introduced to the industry through an IBM business partner. He soon realized the potential for growth and financial security in the technology sector. In 2001, he took a leap of faith and purchased 21st Century Computer Specialists, Inc., which later merged with Silver Lake Resources to form i3 Business Solutions.
But that leap almost cost him everything.
The Struggles & Turning Points
- 2001: The Breaking Point – The tech industry crash left Michael unable to sell anything for months. He maxed out personal and business credit, fell into depression, and was weeks away from bankruptcy. Just when it seemed like the end, two major deals came through and saved the business.
- 2004: Merging Companies – To scale, Michael merged firms, expanding i3 Business Solutions. However, not all partnerships last.
- 2006-2007: Partner Drama & the Great Recession – Two business partners left, followed by the economic downturn in 2007, which brought 18% unemployment in Michigan and financial turmoil for his business.
- 2008-2009: The Pivot to Cybersecurity – Recognizing the shift in technology, Michael refocused i3 Business Solutions on network services and cybersecurity, future-proofing the company.
- 2018-2024: Business Acquisitions & Expansion – Over the years, he bought out remaining business partners and acquired multiple companies, including Computer Alliance, Inc. in 2020 and CompuCraft Technology Solutions in 2024.
The Role of Mentors & Peer Groups
Michael attributes much of his success to surrounding himself with the right people. He emphasizes:
- Finding a mentor – Learning from experienced individuals accelerates growth.
- Joining a peer group – Being around like-minded professionals fosters networking and support.
- Intentional networking – Business opportunities arise from strategic relationships.
He encourages aspiring entrepreneurs to seek out communities where they can learn and grow, whether in church groups, professional organizations, or industry events.
Key Takeaways from Michael Ritsema’s Journey
- ✅ Resilience is key – Every entrepreneur faces setbacks. The ability to adapt and push forward determines long-term success.
- ✅ Business is about risk management – Whether it’s financial risk during economic downturns or cybersecurity threats, managing risk is crucial for any company.
- ✅ Sales is a skill that fuels entrepreneurship – Michael’s ability to sell gave him the edge in growing his business, even when the tech industry shifted.
- ✅ Peer groups and mentors matter – Surrounding yourself with successful individuals accelerates learning and opens doors to new opportunities.
- ✅ Pivoting is essential – As industries evolve, businesses must adapt their offerings to stay relevant and competitive.
Listen to the Full Episode
Michael’s story is a masterclass in perseverance, leadership, and business strategy. Listen to the full episode to hear firsthand about his experiences, lessons learned, and expert advice on technology, cybersecurity, and building a lasting business.
🎙 Podcast Episode Link:
👉 Listen Here
Connect with Michael Ritsema
🌐 Website: i3businesssolutions.com
📱 Instagram: @theritzman
🔗 LinkedIn: Michael J. Ritsema
🚀 Interested in being a guest? Connect on PodMatch:
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