Ryan Vet is an entrepreneur, speaker and author. He has held executive leadership roles in numerous start-ups including boon, a cloud solutions platform for the dental and health industries, and is the owner of two restaurants.

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Resources

Shoe Dog by Phil Knight – A memoir by the creator of NIKE

Boon – Better Care. Better Value.

RyanVet – Visit Ryan’s website!

3 Value Bombs

1) The most important thing – more important than having a business plan – is the drive and passion to persevere

2) A brand is more than a name, it’s an identity that others can rally around.

3) In everything you do make sure you practice good.

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Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: Practicing Good in Business with Ryan Vet

[01:20] – Ryan shares something interesting about himself that most people don’t know.

• Ryan was born in Pennsylvania, and grew up in Chicago.

[02:44] – Let’s talk about a strategy for starting a business

• The most important thing – more important than having a business plan – is the drive and passion to persevere
• Know your ‘Why’ when starting a business.

[05:32] – John recommended reading Shoe Dog by Phil Knight

[07:15] – What are some tips and strategies Fire Nation can leverage to brand their business?

• A brand is more than a name, it’s an identity that others can rally around.

[10:13] – Let’s talk about fundraising and the different venues that entrepreneurs can choose.

• Ryan bootstrapped his first business.
• Asking for money from friends and family – this is potentially awkward.
• Asking for money from Angels – they are the ones who are going to ask for more details about the business
• Asking for money from Venture Capitalists – this is a complicated process, but very fulfilling.
• Loans from SBA
• Equity Crowd Funding – You can sell stocks for a few hundreds of dollars, like WeFunder.

[15:21] – JLD summarizes the fundraising options

[19:08] – A timeout to thank our sponsors, Pitney Bowes and Vincero Watches!

[20:21] – Scaling a business: how do you make your business viable as it grows?

• Scaling a business is challenging.
• Growing a business is like raising a child – it has different stages that requires different strategy and attention.

[25:44] – Creating a corporate culture: a lot of people and companies fail at this – why?

• Millennials will work for a lower paycheck if they believe the company follows their same beliefs and culture.
• Healthy culture can cultivate an energy inside the company that will propel it to unexpected heights.
• Consistent messaging – have a clear purpose and practice what you preach.

[29:42] – What is Gig Economy? How do you hire a team that benefits all parties?

• The Gig Economy is anyone who wants to earn extra money on their own time; includes freelancers and contractors.
• The Gig Economy has two sides of the market place where there is a demand for something and a supply for that demand.

[33:00] – Takeaways Ryan learned from working in the Gig Economy

• Communication is very important – you need to establish the person you are hiring is good with this.
• Clarity – have clear expectations on what you want.
• Use ratings, give your contractors honest private feedback, but give them positive public feedback.

[35:35] – Ryan’s parting piece of guidance

• Is what you’re doing practicing good? Does your brand have a mission that ultimately benefits the people you’re working with? In everything you do, make sure you practice good.
• Boon – Better Care. Better Value.
• RyanVet – Visit Ryan’s website!

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!

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