Many business owners want to grow their businesses as much as they can, but their mindsets may get in the way of doing so. This doesn’t have to be the case, though. In this week’s episode, Doug C. Brown speaks with Ryan Margolin, the CEO of Pro Hair Labs. Doug and Ryan discuss leadership, how your mindset will make or break your company, strategic value, and much more.
Ryan Margolin is the CEO of Professional Hair Labs. Started in 1994, Professional Hair Labs has dominated the hair care industry while staying true to its vision of clean, healthy, and environmentally friendly hair adhesive products. As CEO, Ryan creates and leads the company culture, strategy, and direction — focusing on people, product performance, and safety.
Visit his website: www.prohairlabs.com
I’m bringing you another episode with a great guest. His name is Ryan Margolin. He owns a company called Pro Hair Labs. We talk about three things. The first thing we talked about was leadership. The second thing we talked about is mind. The third thing we talked about is strategic value. The reason I had to read those three is that originally we do this on strategic value but the interview went in a direction that I was not expecting but it was tremendous mind-blowing value.
I would read this one multiple times. There is such great information that comes out around this, especially when we talk about leadership, where you should be scaling your business and at what level and how leadership plays into that scale portion. Many people are trying to install things in their business early. Quite frankly, I don’t need them at that point. When you get to a certain level of the business and you’re going to start to scale, leadership becomes far more important at that point.
We talk a lot about the mind, how it creates strategic value, limits our business growth and propels us to new heights, as well as strategic value and why you must not need but must have in your business if you are ever looking to exit the business or you want branding and positioning in that way. Pull up a chair, get a pen, get a paper, do it old school or a tablet. Let’s go to the interview with Ryan.
Ryan, welcome to the show. Thanks so much for being here.
Thanks for having me, Doug. I’m looking forward to the conversation.
You have a unique background because you were born in New Jersey originally, lived in Florida in the United States and met someone in Ireland. You then resided in Ireland. You have been running your business since 2011 but your father started the business prior.
The business core has been around since 1994. He was operating it from then until 2009 when I joined the company. Subsequently, after that, my brother Daryl in 2011 and my brother David in around 2013. Over time, I see my dad naturally transition to a different position in the company. We’re at the helm taking it in the direction that we see that is the future for the company in a bird’s eye view from where it started to where it is.
The company we’re talking about is Pro Hair Labs. Check them out at ProHairLabs.com. I love this story because your father is semi-famous. He was in a band called The Demensions back in the ‘60s, which was a doo-wop band. They have some famous songs. The band wasn’t around but they did make it into the Hall of Fame.
That must have been maybe many years ago. There was a big induction ceremony in California. He got to take a trip out there and get some acknowledgment for their achievements and contribution to the industry.
Your business started from your father because your mom had some challenge or something with a cosmetic or hair product.
She had chemical poisoning from the adhesives that she was using on our clients. No matter how well-ventilated the area is, the ingredients were derivatives of gasoline. It was toluene, hexanes and xylene. They were very common in the industry but she got chemical poisoning after many years of using them. It forced her to retire early. She is okay but she never was able to go back to work full-time. That was the motivation and the mission behind the company had its inception. It still stays with us but our mission has slightly shifted to a more broad scope of making sure that we’re putting high-performing, safe products into the marketplace.
If your business didn't feel broken in some capacity, it would be time to worry because that just means you're not growing. Click To Tweet
I’m glad you brought that up because this is where I wanted to take our conversation. Your dad started the business. Traditionally, first-generation owners build a business and do their best to get there. My dad is the same thing. He worked for Raytheon Corporation. One day, he told me he walked in and some guy started spitting blood all over the floor. He said, “I’m never going to have an ulcer like these people.” He was a high-level manager within Raytheon. He started an electric motor machinery repair company because that’s what he did in the Navy.
He struggled along for a good many years until my brothers came along and we were all like, “You established a business. There is no problem.” For a lot of people reading this, if you’re struggling through the first five years of your business, it’s normal in a lot of ways. Your brother took and you came into the business. You have this family business. You guys have taken this from a fledgling business to a pretty super enterprise.
We put in a lot of work and learned a lot. It’s a second-generation business where our plans are for our children to be involved if they wish to do so. At its core, there’s a lot of learning within that whole process, especially around the transition of a company, letting go and receiving off. It has been an interesting journey over the last several years to where we are.
What we achieved with the company is not something that we take for granted. We’re always transitioning and pivoting every day, only to face new challenges. It’s part of the growth curve. At the end of the day, if your business didn’t feel broken in some capacity, it would be time to worry because that means you’re not growing.
Many people building companies were thinking, “Everything is got to be smooth. When I get it smooth, it’s perfect.” What I’m hearing from you is if you got that smooth, it’s probably running too perfect.
What I found personally, and I can only speak for myself on this instance, is that when we were operating mid-level six figures, everything was smooth. We were hungry. We chased everything but there were never any major problems within the business. Once we had that seven-figure mark, everything broke. We had trouble figuring out what to do because we were navigating unchartered waters.
That forced us to look inwards towards ourselves, personally develop, to be the people we needed to run our company and help it grow and transition into what became more about us doing the jobs to a team. Naturally, once that 7-figure mark was broken, we started that journey ourselves and pushed up to 8 figures. It became more about leadership than it did about the systems and the processes. You had them in place on how to build them so you need to make sure that the people have clear outcomes inside of the company to hit the targets and the goals that you have set in front of everyone.
You want to try to do that as autonomously as possible. Allowing people to explore their roles, push themselves, see what they’re truly capable of and allow them the freedom to contribute to the company in ways that maybe you wouldn’t be thinking. Where best results come is when you allow individuals to explore their contributions. It might not be in line with what you thought it would be but no real plans are. You can make as many plans as you want but the result usually ends up a lot different than what you’re planning. That is all part of the journey.
It’s a natural part and a lot of people fight it because they have a vision. We’re talking a little bit about vision and we’re going to work on the strategic value. They have a vision when they start. I don’t know what your dad’s vision is. Did he ever tell you what the vision was of the company?
I genuinely don’t ever think he saw any further than the mission of why or the purpose he started the company. He openly said to me that he never thought in a million years that the company could achieve the levels of what we have seen so far. That tells me he was solely focused on the ability to impact a collective of individuals.
Let’s face it. In the overall scope of the world, hair replacement studios are quite small. His vision wasn’t large enough but when we realized the product was validated and we hit a high amount of those hair studios through different campaigns, he started to change the way he viewed things. His vision was the starting point for us because his vision became our vision but we were hungry and we wanted to make something with this company. It transitioned into a different type of mission for the company.
That makes a lot of sense but a lot of people keep going back to the original vision. They don’t realize it changes over time. They got to evolve their vision over time and I liken it to confidence. I have a fear of heights. One of my brothers hung me off a roof when I was three years old. I was 35 feet in the air. They dangled me and told me they were going to let me go. That’s where it started for me.
If we went into those stories, I’m pretty sure we could all dig out some fear or anxiety that we get around childhood memories.
I had to challenge that confidence level over time. It was to a point where I was like, “I can’t even climb a mountain.” I even thought of going skydiving. It’s one of those things that took time. A vision also takes time. A lot of people cling to that initial vision and it limits the growth of their company, I have found. Have you seen that as well?
That statement is true and that could have even been us. It wasn’t until the point where we realized, especially when we hit the seven-figure mark. The systems and the communication channels collapsed on each other and we started missing leads. Everything started falling through the cracks. We realized that the mission of how the company started with the vision for the company could be much bigger. That’s where it transitioned.
Naturally, over time, the mission of the company or the vision has to transform because, typically, you start from a passion, something you have experienced or you see a gap in something. As you go along, I don’t think you can ever truly forecast how big of an impact a product or service can have until you start to get the feedback and see what’s happening right in front of you.
The best results come when you allow individuals to explore their own contributions. Click To Tweet
Going back to your childhood, that brings up a whole different set of fear and anxiety. That’s part of the personal development side of it. You have to get comfortable with that. Everyone faces and experiences it. If you are passionate enough about the core of why you’re doing something, that will always override any inability to try to move past something. It will set and position you well to continue to move forward and change as a person.
How important is it to realize that as the owner or the runner of the business, to grow, one has to grow along with that?
I can go deep into this but at the end of the day, as a leader of a company, whether you’re a manager, an executive or a director, whatever it may be, you have to realize that in many cases, no one is coming to save you. This is all you. My father-in-law shared a piece of information with me and he said, “Ryan, you can be dishonest with yourself and cheat everyone around you but you can’t cheat that reflection staring back at you in the mirror.”
At the time, what that meant for me was if I could learn to have those honest conversations with myself, there were not many things that I couldn’t overcome. That’s something that’s missing in leadership. Sometimes it is maybe arrogant as positioning yourself as the hero in your story. It’s lacking, especially if you’re undertaking a new venture or you have a semi-successful business.
Everyone, for the most part, looks for that outward approval before they even start their journey of self-development or a new business. That is the quickest way to failure in my eyes. Most people won’t truly believe in you until you have achieved a certain level of success. As a leader, that means you’re going to have to work for a long time with no applause and recognition. When times get tough, which they ultimately will and there will be many of them, you have to have that belief in yourself. That is probably key and incremental to leadership.
It is the best said I have ever heard in my life. Thank you. We were going to start this whole conversation on strategic value and building that in.
It’s part of it. That is where it all starts. The strategic value is only as good as your ability to change as an individual because that’s how your company is going to grow. That is the foundation of everything.
If you think about it, at its core, when you’re starting a business, you’re hands-on with everything, in the trenches and doing all the work. You become conditioned to operate that way. When you hit the ceiling or you’re stretched on your resources, the one thing you’re afraid to do is to let go because you’re afraid that nobody else can do it as well as you. That is your first bottleneck. You become your bottleneck after some time.
Not everyone faces that problem but 95% of people that I have seen do it because they are afraid to let go or they are inexperienced at putting systems together or processes. I was that exact person and I got help for that. I worked with a consultant for 4 or 5 years that helped me put all of that together and allowed me to start offloading. It all started with doing time studies. Every 15 minutes, I write down what I was doing for 2 weeks. I broke it up into three sections, which were tactical, strategic and self-care.
At the end of those two weeks, I made a percentage of where I was spending my time, tactically, strategically and self-care. For everything that I was doing tactically, I had created a project spec or a job brief. I hired someone to do it and offloaded all that stuff so I can continue to spend my time in the strategic space.
As a leader, that is where you need to be spending most of your time or as the person with the vision of the future of the company. That is 100% the starting point of it all. If you can get your head around that sooner rather than later in your journey, when you do hit that point, it’s going to be much easier to let go because you’re prepared for it. Most people aren’t prepared for it when it happens.
I can imagine I have people here reading and they are saying, “That sounds great. I can get rid of the tactical stuff but I don’t know if I have the money to be able to do that because if I focus on the strategic stuff, where am I? I’m used to doing the tactical stuff every single day.” How would you respond to that?
It is a tough decision because, ultimately, you got to take two steps back to come forward. The strategic stuff is going to make the biggest impact here because as long as you have someone executing, you know the plan is going to be followed. If somebody said that to me, I would be in a position to say, “You have to be confident enough to make that decision. When you do and you let go of that tactical stuff, you’re going to feel worthless.” It’s going to feel lonely because you were doing all this stuff executing daily. You go to zero. You’re back to square one.
What you need to start to realize is that you go back to square one but everything that you were doing every day, executing all the plans, is still being done. You’re able to take a step back from the company, look at your projects and go, “These things are getting nailed one step at a time and everything is moving right.” That leads you to the next part of whatever your plan may be to get further business and dive deeper into the marketing strategy that you want or the sales strategy.
Ultimately, when you move to new phases, you’re going to have to take a certain amount of that on. It’s like a revolving door. That’s why every few months, I do my time study because I will always, at some point, fall back into the tactical space. When I do naturally, there is a level of overwhelming after a little while but I’m conditioned enough to know that when I experience even a remote amount of overwhelm, it’s time to take a look at what I’m doing daily. It’s a recurring process. I don’t care if you’re a CEO, COO or vice president, whatever it may be. You’re going to be in the same boat. If the company is growing, you need to keep the rotation going.
As a leader, you must realize that, in many cases, no one is coming to save you. Click To Tweet
I found that no matter what size the company is, it’s consistent. A gentleman who had a $200 million company was so unhappy but when you take a look at the time on what he is doing, he is micromanaging that whole company.
If you’re micromanaging a company, that’s the quickest way to give yourself a heart attack because it’s not healthy and fun. Even where we are as a company, I have fallen into that trap a couple of times. You’re talking about where we are versus $200 million. There’s a big difference. I can only imagine the stress and the overwhelm that that could bring. Stress, overwhelm, fear and anxiety can be big health problems. There is also the opportunity to look at healthy levels of fear and anxiety and how we can use that to motivate us.
We always have to go through the growth of the business, not fearing that everything could come tumbling down. If you’re focused on that and you’re always worried about the what-ifs, you have to keep going and not focus on, “What if this was wrong?” Deal with what’s right in front of you because at the end of the day, that is going to be most of the firefighting that you do as a leader. It’s going to be dealing with the daily things that are right in front of you and how you can solve them.
Oprah Winfrey, I heard her ask a great question. “What is this meant to teach me?”
It teaches you whatever it needs to teach you. It is different for everyone. I do believe there are some common lessons that individuals who are in a growing business or changing themselves need to learn. Every single experience that we have are unequivocally unique to each of us. There is no journey that one person had that has been identical to another.
The beautiful part of what makes up our blueprint is that our experiences are made up of everyone that we meet and every situation that we have come across. When you move into a leadership position in a company, it’s your responsibility to go through your journey with an open heart and mind. Never discount how 1 person or 1 situation can add to that blueprint because that creates the foundations for the next part of the growth of your journey.
I often wondered, I try to play this game every once in a while on myself, if I was incapable of ever having a negative thought, what would my day be like?
Going through your day without a negative thought means you have total control over Imposter syndrome. If you could show me a person who can do that all the time, you can put on a poker face but I don’t think there is an individual on the planet who doesn’t catch it at some point.
That goes back to the childhood thing we were talking about. We’re carrying our childhood wounds, fears and things. It goes all the way through. I’m like, “If I could invent this one thing that somebody could push a button and never have a negative thought, how much more would they be ahead in six months?”
It’s important that you train your mind to be able to compartmentalize and push those thoughts aside but it doesn’t always happen. There are times when you have your moments but I learned that it is okay to have those moments but let them be short-lived because you got a job to do.
It’s the recovery time. It’s okay to be upset but how quickly do people recover? We were originally going to talk about strategic value. We are starting to ease into that. I have a friend who teaches people how to exit businesses. I’m very much into what he says. It’s all about creating strategic value to get a multiple because the average company if they sell, is only getting 4.7% even on their business. He’s teaching people how to get 10X, 15X, 20X or 30X like Slack and Microsoft at 26X revenue.
One of the biggest components is strategic value. Businesses are sold and not bought. We got to create more strategic value for the buyer’s lens and the buyer in mind. That is this concept. You use a lot of strategic value positioning in your business. I also know that when I talk to businesses, they understand it conceptually but they don’t realize its value of it.
It is difficult to wrap your head around that unless you are working with individuals who know it intimately inside out and it’s what they do. Over the last couple of years, we were on that journey. When your company moves into the high 7 and low 8-figure space, you have to be looking at that with the utmost importance and urgency. You build a company. Whether you decide to build it for an exit or not, you never know what opportunities might arise down the line. You need to always be prepared for those because you don’t want to miss opportunities either.
Working with the right people when you’re at the point where you can pay them because they look for anyone worth their salt and has the knowledge to help build a strategic plan to increase the value of your company, they’re going to charge accordingly even on that journey for a couple of years. With some of the stuff that I have learned looking back, I was like, “There is no way you could ever find yourself in the space or the time to navigate the different rules and regulations.” Even in some cases, loopholes that you can utilize to set the foundations for your company valuation.
We made some huge changes ourselves over the last couple of years. It was predominantly based on where we could get the most tax efficient and where we could make the most impact from a regulations perspective. If we’re manufacturing a higher level of regulation, that brings value to the company because we know anything we send globally will meet the requirements. That’s why we chose Ireland as the principal manufacturing space.
We also know that by making Ireland the principal company, we’re saving on corporation taxes which naturally can be reinvested back into the company and build your assets and company portfolio, which adds value in the end because it increases your profitability. There are a lot of different ways. I’m a firm believer that, from an operational perspective, if you’re planning on building for an exit, one of the key things people are going to look at when they’re buying a company are the individuals in charge and how they run the company. They’re going to look at the processes and the SOPs. Those are only two of the foundational elements.
Our experiences are made up of everyone we meet and every situation we've encountered. Click To Tweet
If you don’t have a solid leadership team that has created the SOPs and the operation manuals for the company, if they buy the company, they are going to be relying on you. That’s not what they want. They want to buy a company that relies on itself through its processes. That’s the simple stuff that you can do at the beginning and learn how to do as you grow. You have done a lot of the operational work when it comes to them analyzing that part of your business.
What you’re saying to all of us is important in building a business. About 80% of the business on the planet that want to sell never can and when they can, they’re not getting what they want for the business. It’s one of those situations where you’re eloquently giving the information to people. I want to dig a little deeper into this. Conceptually, people get this but they don’t get the value of it because when you’re doing that, you don’t get paid until the back end. It’s like, “Why do I need a trademark? Why do I need this and that? I’m shelling money out for stuff. I’m trying to run this company and build it. It’s squeezing my margin.” The backend could be a difference of 5X to 10X.
Let’s put it this way. You register a trademark through an agent for $800. You bring that trademark portfolio to an eight-figure company. That 1 trademark alone could be worth $4 million or $5 million. That’s more than 10X or 5X. That’s a huge jump in value for bringing a company from 7 to 8 figures. It’s the simple things at the beginning that make the biggest impact. Trademarks and patents are a huge part of that. Anything that can effectively protect what the company does is a massive part of the overall value.
We didn’t realize that until we started to have our company value. You look at the value of a company in the early days through trading revenue. You’re looking at it going, “My company does X. Going by average market numbers, it’s probably worth this.” When you get the valuation done and look into the mechanics of how they value it, you start to spot the points where you’re like, “I didn’t know there was that much weight on this specific area.” You start to see the things that maybe you could have done earlier that could have made a bigger impact.
That’s the thing. Look at other trademarks you could have in the industry that other people did pick up and that could have added to your IP portfolio. It could have taken your $5 million valuation to $30 million because it stopped people from utilizing certain words or logos. There is a whole slew of different parts, especially in trademarks, that you never realize the impact they have until you see the numbers on a piece of paper.
Trademarks are one piece. Patents are other types of pieces. Your process is not duplicatable. It’s the ability for someone to acquire your accompany with ease. Remove yourself from the company and become strategic. There are many different types of this type of strategic value. Not everything is paid.
You’re almost banging your head on a desk when you notice the impact it can have.
Some people pay $800 for an airplane flight. That is necessarily not going to provide long-term value. It might even be if you’re flying to apply it.
People look at trademarks with a singular purpose. It is to protect the product, the service or whatever you need to protect. It’s much more than that because, at the end of the day, if you got a physical products business and counterfeiters coming out of China or wherever they’re coming out of, whoever is buying the company is going to have their eye on that. They’re going to see what losses they are having every year. What is the cost of fighting this?
We had a situation where we were in one part of our evaluation. We were getting quite a high evaluation on a specific aspect of the business but they didn’t take into effect the legal cost to defend that position. Had we had that trademark three years earlier than we had, we would have been in a much better position because the counterfeiters wouldn’t have gotten to the stage that they were at.
That was a huge loss for the valuation of that specific trademark. Don’t ever dismiss how much a single situation or a person can impact the whole business. You have to think about those things at the beginning. Get the foundational things right. It’s a bit of out-of-pocket expenses but you will reap the benefits down the line.
It’s short-term versus long-term thought. My wife was from Poland and an avid gardener. The first time we did a garden and we didn’t wrap the garden with fencing around it, bunnies came and cawed. They’re in there eating this and that. She is getting upset at the bunnies. I’m saying, “It’s not their fault. It’s our fault.”
We both realized that a fence was only a couple of hundred dollars. I should stick an easy fence. The reality is that you have far more harvest at the end of the year. For those of you animal lovers, we didn’t do anything to the bunnies. I let them have their due but analogous to what you’re talking about is you’re going to pay now or later.
It’s like the statement. Choose your heart. It’s one or the other. You’re going to feel it on one end. I rather suffer it at the beginning and be out of pocket for X amount of money than realize what could have been if you put your company in the position to succeed.
You’re able to exit out in different ways once you build the company you have built. Once you build it into a system, you don’t have to necessarily sell the company but you could exit out of there, collect money off the company and have a running enterprise. It’s not like Warren Buffett in every single company that he owns. He is not exactly. There are different ways of doing this.
I appreciate you bringing forth all this knowledge because this is stuff that people’s minds are going through, “Someone else thinks like this too.” If you don’t mind, let’s talk for a moment about your company and what you do. It’s fascinating to me because my oldest daughter is a cosmetologist and the moment she heard about your company, she was like, “I know them.” I’m like, “Here we go.”
The simple things at the beginning make the most significant impact. Anything that can effectively protect what the company does is a massive part of the overall value. Click To Tweet
Initially, we were a provider of hair replacement products to the non-surgical hair replacement industry. It’s cosmetic bonding adhesives, shampoo and scalp treatments for individuals who were wearing hair wigs from hair loss from hereditary means or a health issue. If they were going through chemo, they lost their hair.
We manufactured products specifically for that. As time went on, we started to diversify and apply those same principles and methodologies to go into a deeper space in the cosmetic industry. It’s hair care, body care, skin care, tanning and sanitizers. There is a whole range of products that we have developed. They are catalogs for businesses to come in and say, “This is the type of product I’m looking for.” We probably have it already. With a small adjustment, we can customize it to their needs. We can custom package it and send it in packages. We have in-house. We’re able to speed up the whole process of launching a new product or a brand from 12 weeks to 4 weeks. It’s a good way.
We’re doing the short-term pain of investing in the development of the products for a long-term gain because we can save all the other companies we do business with time and effort on their end. We can help them through the whole process. If you look at our development process and pipeline, part of that pipeline is helping them jump over those hurdles at the beginning. It’s like, “This is the product you want. We will create the marketing brief and send it down to the lab.” The next step is, “Have you looked at your trademarks?”
We were connected very closely with a law firm that we can pass you to get your trademarks in order. By the time you are ready to launch, that whole process is well underway. We’re helping them jump over those barriers that they may not realize they needed in the beginning or maybe they do. We can still help them with it. It’s a great way to add additional value to the process that we help them.
It’s not you just selling something to somebody.
We’re sharing all the information about the mistakes that we made with them so they can bulletproof their brand, protect their company and create strategic value with the aim of keeping it in their family or selling it on, whatever they choose to do.
I do that with my clientele. I went above and people were like, “Why are you giving this away for free?” I’m like, “It’s because there have been with me for several years.”
What is the point of doing what we do if we’re not willing to share the experiences that we had? Ultimately, I feel that what we give back is probably the most important of all of it because it’s how we learn. I agree with that position. You have clients that have been with you for a long time. You support them in building whatever they are building. There is no point in keeping all of it to yourself because it’s not going to benefit you all the time. It could benefit you in different ways by giving back a little bit.
I can talk to you all day. I’m sure we can make this show 32 hours. I love to have you back on another episode if you’re interested. Go check out ProHairLabs.com. Read this numerous times. This is going to have some profile lessons that sink in. Ryan, thanks for being here on the show. I’m grateful you’re here. Thanks.
Thanks, Doug. I appreciate it. I had a good time.
There are so many things that are going to unpack at the end here. Being a hero of your story, for example, not having that being arrogant but being beneficial because we as entrepreneurs, business owners, growing our company, sometimes we’re in our way. We think it’s arrogant to be out there and trumpeting our horns. The reality is the market is looking for that in most cases. They want leadership from the person leading.
If you think about a guy like Steve Jobs, love him or not, that man knew how to play the trumpet with his name attached to it, as well as the company name. That is one of the reasons that Apple proliferated in its size. It was because he was the hero of his journey in that process. He was talking about the good, bad and sometimes the ugly that came along with that.
When it comes to leadership, you can drive that through the process as a solo person in the beginning and build a leadership team but the mind is a very fun thing. A mind can work with us or against us. As Ryan and I were talking about, what if we can never have a negative thought, where would we be in six months? Where would your life be in six months if you couldn’t have that negative thought? You could only focus on proactive, strategic play.
I love what he did with his time. He is looking at it and breaking it down into three functions, strategic, tactical and health. When you look at your time, even over a short period, it tells you a story. Are you strangled in holding your business or not? Part of the stranglehold in business is not building strategic IP and bringing strategic value into your company. It doesn’t have to be IP. It could be the systems, processes and all kinds of things that we talked about.
The reality is the higher you build that strategic value, the better your chances of an exit are if you ever decide to exit. Here’s the thing. You will never know if somebody walks through the door and says, “I will buy your company for 20X.” You never know if it’s going to happen. You can build the company up to sell the company but the reality is you never know when the buyer is going to come along. I can tell you that from experience.
I have one company that I sold after a year. I never intended on selling it after a year but the guy made an offer. “An offer I couldn’t refuse,” the godfather said. You don’t know when it’s coming. You build for that point. When you build your company like that, you build a better company anyways. Ryan, check him out and his company at ProHairLabs.com. I urge you to read this multiple times because it will sink in a little more on the lessons. They are profound in this interview. I’m grateful for him being here.
If you like the subject matter and you want different types of subject matter that you want to know more information about, reach out to me. Doug@CEOSalesStrategies.com or send a message to the team at YouMatter@CEOSalesStrategies.com. Let us know what you’re looking for. We will find guests who have expertise in that. That’s what we do. We will bring that episode to you.
If you like to be a guest, let’s say you’re reading this and you’re like, “I have a lot I can contribute. I have a company, these specialties and expertise,” reach out to us at YouMatter@CEOSalesStrategies.com and let us know. Maybe we can feat you as a guest. If you know anybody like yourself, team members or companies that want to get their sales teams or people selling, whether they are solo entrepreneurs or major corporations that have hundreds of salespeople, they want to get into the top 1% and have their people understand what it is to be in the top 1% of earners in sales, not just 1 of them but the whole team, have them reach out to me at Doug@CEOSalesStrategies.com or DougBrown123, which is my LinkedIn address.
If you love this show, please rate it five stars. Don’t be worried about having shameless promotion like I’m doing in your life because people respond. Subscribe to it if you haven’t. If you like to be a subscriber, that would be awesome. The more we get, the better the algorithm is for us. We could bring more quality content to more people. Go out and make it a great day. As always, go sell something. Go sell a lot of it. Sell it profitably. Do right by people, play win-win, make them happy and make yourself happy. Life seems to work out from that point on. Until next time.