21 Hats Podcast Dashboard: A Business Owner Chooses His Third and Final Act
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Oct 31, 2025 In this engaging discussion, Josh Patrick, a former vending business owner and consultant, dives into his third act focused on the complexities of retirement and death. A cancer survivor, he candidly shares his fear of retirement and how it links to identity loss. Josh emphasizes the emotional impacts of business on families and advocates for gentler practices in leadership. He explores poignant questions about death rituals and the potential of psychedelics in confronting death anxiety. His insights challenge entrepreneurs to prepare for the personal side of exit strategies.
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Learn By Teaching
- Teach what you want to learn by volunteering to teach it; teaching accelerates mastery.
- Josh credits public teaching and designing courses with rapidly expanding his business knowledge.
Sold Rather Than Compromise Integrity
- Josh sold his vending business rather than join competitors in deceptive accounting practices like inflating an 'R factor'.
- Competitors that were Pepsi franchises offered to buy his company at a fair price, enabling the sale.
Fame Often Fades After Exit
- Leaving a business often turns you into a 'non-person' in your old industry because relationships are mostly transactional.
- Josh found that phone calls and recognition drop sharply after a sale, revealing how ephemeral industry fame can be.