#243: Tactical Tuesday: Traveling Down the Path of Progression as an Entrepreneur

OVERVIEW:

Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of the Healthcare Boss Academy podcast, talks about the progression of an entrepreneur and how to position yourself to continue down the path of success. For entrepreneurs to scale up their businesses, they have to learn how to gain leverage, understand leverage, and utilize it to their benefit. 

EPISODE HIGHLIGHTS

• Jason watched a YouTube video and learned that to grow, you need to learn how to utilize leverage. 
• Leverage has four components: labor, capital, digital media, and code.
• Labor – you have to ask and motivate employees. Collaboration with a team is necessary to create a product or service and ensure successful delivery to customers.  
• Capital – a business cannot run without capital. Use capital to leverage marketing and have your system down pat by knowing how much to invest and what the ROI is. 
• Digital media – you don’t have to pay a cost to replicate content and this includes licensing. 
• Code – code can do the work of labor with fewer mistakes, fewer costs, and less downtime. 
• Think of this as a pyramid. Labor is at the bottom. Move out of the position of making money for someone else and make money for yourself. Start your progression by stepping out of the W-2 job and becoming a 1099. 
• Next in the progression is to become a business owner. Leverage team skills and time. 
• After this, start to create content and focus on digital content. 
• At the top of the pyramid, you’re already leveraging content and media and it’s onto code. Jason is at this level right now.
• Jason watched another YouTube video and shared two key takeaways. 
• One, if your business is earning 0 to $1 million, focus on selling one core product to a single ideal customer. Get good at what you do. 
• Once you reach $1 million, you can scale your market. Determine ways to offer lifetime value to your customer. Listen to current customers and offer products/services during their journey. Upsell!
• Jason is learning from successful billionaires and by investing in his education. He spent $47k last year on courses, masterminds, books, etc. 
• The game is real. Invest in your education. Shortcut your path to success and financial freedom.

3 KEY POINTS

1. Learn, understand, and utilize leverage to your advantage.
2. Becoming a 1099 makes you learn more business skills compared to being a W2 employee.
3. Ensure your business offers lifetime customer value.

TWEETABLE QUOTES 

“If you start to invest in your education and invest in those relationships with people that are doing things at the next level, then you’re going to figure the game out much faster.” – Jason Duprat

“It’s way easier to shift your mindset when you’re not around people who don’t share the same mindset.” – Jason Duprat

CONNECT WITH JASON DUPRAT:

LinkedIn | Facebook | Instagram | Youtube | Facebook Group

RESOURCES:

• Sign up for one of our free business start-up Masterclasses by heading over to https://healthcareboss.org/masterclass/
• Have a healthcare business question? Email me at podcast@healthcareboss.org and I’ll add you to my contacts. Occasionally, I’ll share important announcements and answer your questions as well.
• Do you enjoy our podcast? Leave a rating and review: https://lovethepodcast.com/hea