Ep 282 The Entrepreneurs (Chapter 1): How David lost $100 million | Dr Jake Sloane & David Segal

Episode 283 showcases our host, David Segal.

In our final podcast of the year we launch a new mini-series called 'The Entrepreneurs'. These episodes will focus on pioneers in the business world. Our entrepreneurs will share their stories of success, failure, life-changing lessons and big decisions that they made. We'll showcase guests from all sorts of backgrounds to inspire our listeners.

In Chapter 1 David shares his journey in aesthetics from the very beginning. From starting importing lasers from China with absolutely no experience, a chance opportunity led to him founding and managing the hugely successful 'Cosmos Clinic'.

After another chance meeting at an event, he was then invited to become the General Manager of Laser Clinics Australia - now the world's biggest chain clinic with over 250 locations in numerous countries.

These early successes led David and his partners to set their sights on the surgical world. They founded 'The Cosmetic Institute' (TCI) and within just 2 years they had disrupted the entire cosmetic surgery industry in Australia. At its peak TCI performed 100 breast surgeries a week and was turning over $40 million per year. But things came unstuck and David gives us a brutally honest account of what the root causes of this were and the most difficult period of his life. This experience changed his mindset completely and David offers his insights into best business practices, financial management, and the importance of risk mitigation. We end on a note about the importance of planning for financial stability and wealth management for the future. 00:00 Introduction and New Beginnings 01:09 Introducing 'The Entrepreneur Series' 03:51 The Topic of the Day: Business Failures and Lessons Learned 05:19 Early Career and Business Ventures 14:57 The Genesis of Cosmos Clinic 24:07 The Birth of Laser Clinics Australia 33:16 Reflecting on the Chain Clinic Model 35:06 The Genesis Of The Cosmetic Institute (TCI) 40:57 Recruitment and Training of Surgical Staff 43:02 Business Model and Initial Success 45:18 Challenges and Scrutiny 52:39 Major Complications and Media Attention 56:14 The Beginning of the End 01:01:53 Lessons Learned and Moving Forward 01:16:24 Advice for Aspiring Business Owners 01:21:46 Final Thoughts and Reflections

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