Feb 16, 2023
OVERVIEW:
“You don’t build a business, you build people, then people build
the business.”– Zig Ziglar
Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of
the Healthcare Boss
Academy podcast, sits down with Eric Morin, Wealth and
Business coach, Forbes Speaker, Author, and CEO & Founder of Tower
Leadership. Eric’s passion and wisdom for business are like no
other, with expertise able to scale businesses up to tenfold in
revenue. In this episode, we dive into the mind of this business
expert, his story of becoming one, and his timeless advice for
healthcare entrepreneurs.
3 KEY POINTS:
- Hire great talent and build great teams who can run the
show.
- Solidify your business' Executive and Operations roles.
- Reflect on "Why" you need to scale your business and build a
financial strategy around that.
EPISODE HIGHLIGHTS:
- Eric is an entrepreneur by nature and has always had a passion
for business. He did consulting work for companies with up to
$20 million in Revenue by himself.
- When he started a Dental Practice, he grew and scaled it so
quickly that specialists asked him to help other general
practitioners.
- They've taken people from $9 million to $100 million in revenue
in 12 months.
- He considers taking his passion for business, finance, and math
to help people grow to be "a lot of fun."
- Large company leaders think, "How do assemble the best team?"
while smaller company leaders try to do everything themselves,
significantly hindering a business' scaling pace.
- For Eric, the thing that attracts great talent is the
opportunity to show their capabilities and build their future. Get
your team excited to go with you by finding out and giving what
they want and showing them where their future is headed.
- When getting a business partner, you must know that person,
their paradigm, and their financial strategies.
- There are only two reasons to give up equity: Capabilities or
Capital
- Eric's method for scaling a business is first to identify "why"
you want to scale, then to create a financial strategy around
that.
- As capital rises, Growth Eats Cash. As you grow, it requires
more cash, and you'll need a cash flow management strategy.
- Leadership teams in organizations can use scorecards to measure
key metrics and determine whether the practice is on pace.
- Eric mentions the book "Measure What Matters" by John Doerr,
which talks about systems such as OKRs that have integral in large
organizations.
TWEETABLE QUOTES:
“Past success doesn't always equate to future success." – Eric
Morin
"There are only two reasons that you should ever give up equity:
Capabilities or Capital." – Eric Morin
CONNECT WITH JASON DUPRAT:
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RESOURCES:
#HealthcareEntrepreneurAcademy #healthcare #HealthcareBoss
#entrepreneur #entrepreneurship #podcast #businessgrowth
#teamgrowth #digitalbusiness