Overview

When starting the List Manager service, the following error message is displayed:  

"Windows could not start the ListManager service on Local Computer. Error 1053: The service did not respond to the start or control request in a timely fashion."

Solution

This issue can be caused by not having enough permissions on the Db user. I would recommend running the following SQL Procedure to change the Database db_owner:

EXEC sp_changedbowner N'[ListManager]'

Note: Please make sure to check with your DBA and document any change. Then restart ListManager server and see if you can stop/start the service without getting a timeout. 

If the issue still persists, check that the latest service pack is installed on the machine. Note that this is quite likely related to the delay connecting to the database, however, the solution in the article below is only suited to when the database service runs on the same machine as ListManager.  
You may want to try some other solution to extend the timeout e.g.  

Error 1053: "The service did not respond in a timely fashion" when attempting to start, stop or pause a service