Episode #499: Growth Strategies and Business Exits-Expert Tips from Ryan Valencic

HALO Talks: Elevating Wellness

Ryan Valencic, an accomplished entrepreneur with a 12+ years in the trenches, has built and successfully exited multiple businesses. With a family background in franchising, Ryan continues to hone his skills as a serial entrepreneur, currently overseeing multiple companies. He is in the midst of launching an innovative health tech platform and about a year ago, Ryan joined Cultivate Advisors to lead their partnerships, drawing on his extensive professional experience to drive new opportunities.

In this episode, Pete and Ryan dive into concepts like business owner freedom, effective coaching, and what it may look like in the future when it comes to growing and exiting a business successfully. Ryan also highlights the importance of mission alignment, disciplined execution, and the value of saying no to ensure business success. Whether you're an established entrepreneur or just starting out, Valencic's insights on navigating the business landscape, particularly in the HALO sector, promise to be educational.

"Don't create yourself a job," states Valencic. "You build yourself as the keystone of the company and your removal is going to have your exact skill set, which is probably close to 0. So I think it's being in a spot where you left the systems, the processes, and the product or service that you sell be the value of the business, not your unique skill set to where your removal collapses the company."

Key themes discussed

• Selling a business takes a lot of work!
• Entrepreneurs should build sellable businesses, not jobs.
• Mission alignment is critical for business success.
• Navigating traditional medicine, creating platform for connections.
• Buying a franchise requires honesty, time, and commitment.
• Navigate and (try to!) steer clear of the inevitable bumpy ride.

A few key takeaways:

1. Ryan emphasizes the importance of establishing a business that can function and grow independently of the founder's direct involvement. This involves creating robust systems, processes, and products/services that hold their value irrespective of the founder's unique skills.

2. Successful business operations require a mission alignment among team members and stakeholders. Ryan highlights that having passionate and mission-aligned people is crucial for driving a company's vision and ensuring consistency in purpose and goals.

3. The decision to franchise should be taken cautiously, particularly ensuring that the unit economics make sense and that the business model is replicable by others. He advises entrepreneurs to fully grasp their business's financial viability before venturing into franchising.

4. Regarding advisory services, Ryan stresses the importance of matchmaking between business owners and advisors who can best fulfill their needs. He asserts that advisory shouldn't require hard selling; the business owner should recognize the value intuitively.

5. Ryan differentiates between motivation and discipline, asserting that while motivation might get you started, discipline is what sees you through to the end. Successful entrepreneurship is often about consistent, disciplined actions rather than sporadic bursts of motivation.

Resources:

• Ryan Valencic: https://www.linkedin.com/in/ryan-valencic-3444b9144/
• Cultivate Advisors: https://www.cultivateadvisors.com
• Well Connekt: https://www.wellconnekt.com/
• Prospect Wizard: http://www.theprospectwizard.com
• Promotion Vault: http://www.promotionvault.com
• HigherDose: http://www.higherdose.com

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