Discover the power of 'owning the exit' in our compelling conversation with my friend Saud Juman, who crafted this concept after exiting his healthcare technology company. We explore the importance of recognizing clues in business and life that signal when it's time to transition and embrace the next chapter. By proactively taking charge of your exit, you'll set yourself up for even greater success on your entrepreneurial journey.
Join us as we discuss the invaluable role of mentors and the mentorship formula Saud developed during his 18-year business journey. We also emphasize the significance of taking space between business ventures and how Saud ventured into non-entrepreneurial activities during his break. Learn how to select the perfect partners and masterminds for your next business venture and why training to become an entrepreneur is akin to preparing for a sport.
Lastly, Saud shares his insights on viewing your spouse as a business partner and the powerful concept that discipline leads to freedom. We also discuss his recommendation of Paulo Coelho's The Alchemist and a handy tool he uses to monitor his health called Whoop. If you're contemplating an exit from your business, this episode is brimming with invaluable insights and advice to help you maximize your transition. Don't miss our engaging conversation with Saud as we uncover the secret of owning the exit!
Fast Five Questions
- If you woke up and your business was gone, you have $500, a laptop, a place to live, and food, what would you do first? "First thing I do is I'm going to try to figure out how to use my resources ,a laptop, and under $500. How can I put that as seed money into starting something really small to start a business?"
- What is the biggest mistake that you have made in business? " She (wife) would have given me perspective and advice, and I didn't listen to it. Then I realized that what she was saying all along, was correct"
- What is a book that you would recommend? "The Alchemist by Paulo Coelho"
- What is a tool that you use everyday that you would recommend? "I do use a tool to monitor my health - it's called WHOOP"
- What is your definition of freedom? "Being able to consistently use and employ discipline"
About the guest:
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 multi-national business called PolicyMedical Inc. that developed numerous hospital data management systems trusted by over 3000 healthcare organizations. As a result, Saud knows and understands what founders and CEOs face on a daily basis.
“They often are not as connected or aligned to the “why” of their business as they once were. They lack clarity to work on the three tenets of a successful business — product, people and processes. As a result, the business may not be growing as rapidly or efficiently as they would really like,” says Saud.
At the beginning, Saud ran PolicyMedical Inc. from his mother’s basement while he developed and perfected its proprietary product, Policy Manager, and also pounded the pavement for sales. Saud landed his first client, the Champlain Valley Physicians Hospital in Plattsburgh New York. Thus, began a ripple effect to thousands of other hospitals in the U.S.
Saud worked through plenty of challenges, such as a business divorce with his co-founder, and the restarting of the company to turn it into a high growth venture. Saud successfully grew and expanded PolicyMedical’s products and services into a self-sustainable and highly sought-after business, which he sold in 2018 to Susquehanna Growth Equity.
Saud is a professional speaker and seminar leader. Saud has been on the board of the Markham Stouffville Hospital Foundation since 2017.
https://saudjuman.com/
https://www.facebook.com/saud.jumanyassin
About Jeff:
Jeff spent the early part of his career working for others. Jeff had started 5 businesses that failed before he had his first success. Since that time he has learned the principles of a successful business and has been able to build and grow multiple seven-figure businesses. Jeff lives in the Austin area and is actively working in his community and supporting the growth of small businesses. He is a board member of the Incubator.Edu program at Vista Ridge High School and is on the board of directors of the Leander Educational Excellence Foundation
Connect with the Freedom Nation podcast at www.freedomnationpodcast.com
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