Millionaire Mindcast How To Bullet -Proof Your Business And Scale To The Inc 5000 List | Vick Tipnes
In this episode of the Millionaire Mindcast, we have a magnificent guest Vick Tipnes who shares his entrepreneurial journey on how he came up with the winning idea & built a multimillion-dollar company, how he endures pain from a lot of failures and sacrifices, how he developed a high level of confidence, and bulletproof his business and scale to the Inc. 5000 list!
Vick Tipnes is a serial entrepreneur, keynote speaker, and the CEO of the Blackstone Medical Services (BMS), the market leader in home sleep testing. Blackstone recently made the coveted Inc. 5000 list in 2016 and was ranked 1276 out of 500 companies in the country, based on its 345% growth and is, set to make the list again in 2017.
Vick's parents were entrepreneurs with 20 units’ motel in Florida. He grew up in an entrepreneurial environment that taught him the work ethic. Vick worked very hard and had several startups until he figured out his areas were. Then he started Blackstone in 2012 from his Kitchen; his purpose was to provide better quality, access, and costs for patients, providers and insurance companies. His core idea is wanted to have a company that could help a lot of people, at the same time freedom that the job could never afford that luxury.
Before that, Vick made his own thorough research and decided to take a business that already exists and innovate it. It became a multimillion-dollar company & the largest now in Florida, operating in 50 States with 150 full time employees. Vick did all that in 8 years but life is not full of rainbows and butterflies. Before that, he had some startup failures.
This optimistic guy worked diligently every single day. Vick didn’t have an elaborate business plan or an elaborate website but just started it. He had many struggles along the way like from losing funding. It was until 2013 when he was almost completely bankrupt who only had $78.00 dollars left to his name. But he has a very high level of endurance. He believed that pain is part of the journey and endurance is the key. It took him 4 years suffering before his business succeeded & paid off.
An amazing man with a very high level of confidence, Vick believes that it is inborn and innate at the same time earned from time and experience. He emphasizes investing in you in order to gain confidence. It’s not going to the salon or reading books but going into events and seminars to gain more knowledge about your field you want to be an expert with.
Finally, stop thinking with scarcity, but think big and abundant to get survive and out produce things you want.
Some Questions I Ask:
- How did your entrepreneurial journey start? (00:49)
- How did you know why you wanted to pursue Blackstone Medical Services? (02:48)
- How did you come across the idea of upgrading sleep tests & building a business around this? (04:15)
- What kind of commitment or mentality is necessary at the startup phase that entrepreneurs need to have? (07:58)
- How does somebody know when is the time to maybe quit and move on to that next thing or keep pushing through? (11:23)
- How did you build that confidence? (16:43)
- How can someone build a formula for investing in themselves? (26:09)
- What are some of the things that really hold people back? (29:28)
- How does somebody think bigger or expand their thinking about their business or what’s possible for their business & life? (32:16)
- When do you know it’s time to start enjoying the fruits of your labor? (37:58)
- How do you handle the haters? (39:28)
- As you have a massive amount of wealth & success, what do you want to do more of or less of right now? (42:02)
- If you look back on your journey, what do you want people to remember & say about you? (45:00)
In This Episode, You Will Learn:
- What the Blackstone Company is all about. (01:58)
- Vick’s definition of entrepreneurs in 2 categories. (03:42)
- The false data in entrepreneurship. (04:22)
- Advice to all entrepreneurs Vick bump in. (05:43)
- Endure versus Persistent. (08:45)
- How to invest in yourself & gain confidence. (20:09)
- How you bulletproof your business. (30:08)
- Social media is full of fakes. (42:34)
Quotes:
- “I never started a company because I wanted to make money.”
- “Just start, don’t get caught of an issue of the details, the details will work themselves out.”
- “The best way to do it is just start.”
- Find the small way to do it, just do it, & it will start to gain momentum.”
- “Momentum is very powerful; you use it to your advantage.”
- “It is okay to suffer.”
- “My life was not a month to month, weekly; my life is day to day.”
- “Self-belief is inborn and innate.”
- “There is no better return on investment that I personally have ever had in my entire life than investing in myself.”
- “It was those fractional differences that made the difference.”
- “You’ll never get to $10 million, $20 million, $100 million if you’re worried about 3 grand or 10 grand.”
- “What you hate in somebody else you have in yourself, it’s in you.”
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