In the latest episode of the Real Wealth Podcast, seasoned entrepreneurs Gary Oborny and Nick Flores shared inestimable insights into the world of entrepreneurship. From diverse business ventures to engagement with the community, mentorship, and the vital roles of sales and marketing, their conversation provided a masterclass in a viable, long-term success.
Gary’s Entrepreneurial Journey:
Gary Oborny’s entrepreneurial journey started with a landscape construction business and led to him becoming the founder and president of Occidental Management, owning over thirty companies, and highlights the significance of diversification and expansion in building a successful business.
Nurturing the Local Entrepreneurial Ecosystem
Gary is drastically involved actively in initiatives such as the Greater Wichita Partnership and ETV Accelerator underscores the importance of community engagement. Facilitating the local entrepreneurial ecosystem not only benefits the individual entrepreneur but contributes to the overall success of businesses in the local area.
Mentorship and Partnership
A model for effective mentorship and partnership is how Gary and Nick’s relationship is described. Nick’s progress from starting with drone services and leading up to commercial leasing within Occidental Management demonstrates the power of learning from experience to shorten one’s own learning curve.
Sales and Marketing
Nick and Gary’s emphasis on the crucial role of sales and marketing in generating consistent revenue emphasizes a fundamental principle in entrepreneurship. Consistency and effort to fill the sales pipeline are imperative for sustained business growth.
Self-Determination and Empowerment
The unique dynamic between Gary and Nick is characterized by partnership and autonomy rather than the regular boss-employee relationship. This relationship also showcases the importance of empowering team members within the company/organization. This approach fosters a higher performance and a sense of ownership.
Building the future
This episode of Real Wealth underlines the importance of succession planning and leadership development within a business. This ensures a business can outlive its founder, which requires strategic planning and investment in developing new leaders within the organization.
Aligning the team for success
Occidental Management’s approach to incentivizing staff contrasts short-sighted incentive structures through bonus and profit-sharing programs. This enhances performance bus also cultivates a sense of investment in the company’s success overall.
Lifelong Learning
The critical importance of continual learning for entrepreneurs is stressed by both guests on the podcast. This is not just an option; it’s a necessity. This involves asking questions, avid reading, and absorbing advice. The determination to actively expand your knowledge and skills is essential for long-term success in a rapidly evolving business landscape.
Evolving and Pivoting:
Change is constant in the business world. Being able to evolve and pivot while maintaining a strategic focus on your goals is a skill that every entrepreneur must acquire. Adaptability is a key factor in navigating the changing nature of markets and consumer preferences. Entrepreneurs who can balance strategic direction with a willingness to pivot when needed position themselves for continuous success.
Conclusion
The Real Wealth Podcast episode with guests Gary Oborny and Nick Flores offers an extensive guide to entrepreneurship. The conversation provides entrepreneurs with a wealth of insights to proactively grow and manage their ventures successfully. Whether you are just starting or are a seasoned business owner, the key takeaways in this podcast provide a blueprint for entrepreneurial success.