The Deep Wealth Podcast - Unlock Your Deep Wealth In Business and Life Saud Juman On How He Created His Highly Successful Exit (#016)
“Good CEOs are an inch deep and a mile wide. CEOs need to hire people that are a mile deep and an inch wide in everything.” - Saud Juman
In his more than 20-year career as a business owner and entrepreneur Saud Juman has worked through every possible business challenge in a variety of industries from designing unique products, developing new markets, creating corporate culture plans, recruiting and building a world class team.
Navigating through significant growth, change, and executing a highly successful exit. Saud himself has grown, run and sold a multinational business called a policy medical that developed numerous hospital data management systems trusted by over 3,000 healthcare organizations. At the beginning, Saud ran policy medical from his mother's basement while he developed and perfected his proprietary product Policy Manager, and also pounded the pavement for sales.
SHOW NOTES
- Why Saud walked away from a successful business to find an industry he was passionate about
- The importance of finding a problem that you're passionate to solve
- How Policy Medical was born from an unmet need in the market
- Why serving people to improve their health was more important to Saud than making money
- Why business owners must choose the right metric to measure success. Saud's metric was not the number of hospitals, but the number of patients served per day
- The difference between a lifestyle business and a business that changes lives
- The hard lessons Saud learned from his business divorce
- Why Saud hired people smarter than him and why you should do the same
- The difference between mentorship and coaching
- Saud's unique approach to finding two different types of mentors and why you should do the same
- How Saud's mentor transformed his thinking from 20% yearly growth to 200% to 400% yearly growth
- The pain of realizing the team that helped start the business lack the skills to run a high growth business
- Why Saud started audited financial statements early, and you should as well
- The power of Saud going from entrepreneur to CEO and how this transformed Policy Medical
- How Saud revamped his website to only have high quality educational content
- The power of client referrals to grow your business
- Why Saud created his exit team before he started his exit
- The power of creating a virtual data room before hiring an investment banker
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