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.
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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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.
[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
[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!
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