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#122: Tactical Tuesday: Acquiring your Competition

Healthcare Entrepreneur Academy Podcast

Release Date: 09/15/2020

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Healthcare Entrepreneur Academy Podcast

OVERVIEW:  Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about his software stack for generating 1.7M in online sales. Join Jason as he goes through his early experiences in the online course business, how he learned from his mistakes and integrated different softwares in order to increase efficiency and quality.   EPISODE HIGHLIGHTS: Jason recalls creating Nurse Academy, his first online course to help nursing entrance exam takers. He shares the lessons he learned when he hired a coder to build the hosting...

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#122: Tactical Tuesday: Acquiring your Competition show art #122: Tactical Tuesday: Acquiring your Competition

Healthcare Entrepreneur Academy Podcast

OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about the importance and benefits of acquisitions and why it’s an important business tool you should consider.   EPISODE HIGHLIGHTS: Many entrepreneurs look at acquisitions as an esoteric, intimidating and highly complex process that’s hard to understand.  On the contrary, acquisitions are a powerful tool you can use to scale your business. In fact, companies are spending well over $2 trillion a year on acquisitions! There are two fundamental reasons why...

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OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about the setbacks and challenges entrepreneurs experience and how looking internally can help address those challenges accordingly.   EPISODE HIGHLIGHTS: Setbacks are a common experience especially for newbies in the entrepreneurship world. Newbie entrepreneurs often make the mistake of looking externally for what’s holding them back. They look outside of themselves to figure out what’s causing the problems, roadblocks or setbacks. Think of the top two...

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OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about whether or not offering lifetime access or lifetime fixed pricing is a good idea and how you can make this strategy work for your business.   EPISODE HIGHLIGHTS: In the digital and online space, it’s very common for companies and individuals to offer lifetime access or lifetime fixed pricing.  This type of approach is especially prevalent among software as a service (SaaS), course-based memberships, the coaching space and other digital products and...

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OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about his experiences starting an online business. He shares the top three things he learned and three business principles to keep in mind.   EPISODE HIGHLIGHTS: The first time Jason added an online education component to his business was in 2016. He created 2 nursing school entrance exams review courses. One of the lessons he learned is the market is very commoditized and the price you charge should be in line with what the market demands. Otherwise, clients...

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OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about the top two costs you’ll face as a business owner, how to reduce tax liabilities legally and how to avoid missed opportunities.   EPISODE HIGHLIGHTS: The top two costs business owners face are tax liabilities and missed opportunities. The average person pays between 40 and 50% of the money they earn in  taxes. Some of the taxes business owners pay include payroll, income, state, property, sales and capital gains.   Since taxes are the...

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OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about the differences between the mindset of an employee and an entrepreneur. He identifies six traits you can develop to effectively transition from employee to entrepreneur to help ensure startup success.    EPISODE HIGHLIGHTS: If you’re going to transition from employee to entrepreneur, you need to shift your overall mindset and the way you think. Mindset is the number one factor that can impact your ability to succeed in business. Your daily thinking...

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OVERVIEW:

Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about the importance and benefits of acquisitions and why it’s an important business tool you should consider.

 

EPISODE HIGHLIGHTS:

  • Many entrepreneurs look at acquisitions as an esoteric, intimidating and highly complex process that’s hard to understand. 
  • On the contrary, acquisitions are a powerful tool you can use to scale your business. In fact, companies are spending well over $2 trillion a year on acquisitions!
  • There are two fundamental reasons why you should consider an acquisition. 
  • First, acquisitions can help prove the value or worth of your current business. Second, it allows you to create new revenue generation.
  • Acquisitions allow you to improve your current business model and boost your existing performance by decreasing the cost of goods or the cost of marketing.
  • Acquisitions are considered to be a wise business move because you can often improve operational efficiencies and customer volume. .
  • Jason shares an example of an old SaaS company being acquired by a new player in the ketamine arena. By acquiring their competition, the new player now has the luxury of increasing prices while decreasing costs.
  • Jason believes there’s no better time to consider an acquisition since many businesses have been severely affected by the COVID-19 pandemic and may be more open. 
  • If you’re not yet considering acquisitions, Jason challenges you to put it on your radar and look around. Make a list of your competitors and start those conversations.

3 KEY POINTS:

  1. Many entrepreneurs see acquisitions as an intimidating, highly complex and esoteric process.  
  2. Acquisitions are a powerful tool that can massively benefit your business. 
  3. Often, an acquisition can decrease costs, improve efficiencies and increase customer volume. 

TWEETABLE QUOTES:

“There’s a variety of benefits to acquiring competitors in your market.” - Jason Duprat

 

RESOURCES MENTIONED:

Healthcare Entrepreneur Academy for Digital Businesses - https://www.facebook.com/groups/HeathcareEntrepreneurAcademy/

Healthcare Entrepreneur Academy for Brick & Mortar Businesses - https://www.facebook.com/groups/HealthcareEntrepreneurAcademyBrickandMortar/

 

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