Taking risks pays off for Lake City Trucks

Edward Pace has a motto: "I would rather take a risk now than procrastinate and miss out on an opportunity."

That idea, in addition to Pace's work ethic, charisma and willingness to sacrifice, have helped him transform a failing commercial-truck dealership with two run-down locations into one of the leading dealers in the West, with 11 locations and 16 product lines.

Pace quit a secure corporate job to run Salt Lake-based Lake City Trucks, which at the time was a dispirited, money-losing enterprise. Pace developed an open communication style, relying on feedback from customers to help shape the dealership.

In addition, he trained employees in his people-centric philosophies and gave them both the permission and the ability to work by intuition and their own skills.

He also created a highly successful parts and service enterprise that not only services Lake City's truck lines, but also equipment the company does not sell.

Lake City's impact on Utah is seen at Lake City Trucks, truck-leasing firm Ideal Lease and moving company Two Men and a Truck.

But the area's thousands of specialty trucks, bought from and serviced by Lake City, also pay tribute to Pace's vision and tenacity, and that of his staff.