Why I Walked Away From a Nearly $500M Offer for My Medical Business - EP324

We had a 10x offer on the table for Genesis Lifestyle Medicine, almost half a billion dollars and we walked away from it. I sat down with Josh Ponton on ASHER Health's Standing in the Gap and told the full story: why the math didn't make sense, the multi million dollar stupid tax I paid learning how to sell a company and the month Brent and I spent wallowing in self pity asking ourselves if we even wanted to keep doing Genesis at all. We decided to burn it down and start over, go back to the core values we forgot while we were focused on the sale and build Genesis 2.0 the way we should have built it the first time.

The rest of this conversation is about what it actually takes to build a medical business and most of it has nothing to do with tactics. I talk about convincing my wife to rent out our Palm Springs home so we could live in the foyer of a house where every bedroom was rented, saving up $100,000 and then spending $50,000 of it on a mastermind and carrying a bag of laundry and a bag of quarters across a highway to get to the laundromat. Josh asked me whether I remember my wins or my losses more. I remember the losses. I let them eat at me and that dark energy is still a big part of what drives me. I'm honest in here about whether that's healthy because it probably isn't and why I tell people to document their worst moments anyway.

We also get into why 98% of people who own a business shouldn't, why success leaves clues and your first real step is finding a mentor, my grandfather's truck Big Blue and why the cars were never about the cars, what Antoni Gaudí and the Sagrada Familia taught me about building something bigger than your own lifetime and why life isn't short, death just takes a really long time.

If you're a clinic owner, med spa owner, or medical entrepreneur who has ever looked at your business and wondered if it's worth it, this one is for you. Big thanks to Josh Ponton and ASHER Health for having me on Standing in the Gap.

CHAPTERS
00:00 Burn it down and start over
00:25 Why the cars were never about the cars
13:32 Why 98% of business owners shouldn't own a business
19:15 The sacrifice nobody warns you about
26:06 Find a mentor, success leaves clues
34:56 The $50,000 mastermind that changed everything
49:48 Do you remember your wins or your losses
01:08:27 Walking away from a nearly half billion dollar offer
01:21:49 Life isn't short, death just takes a really long time
01:30:16 Gaudí and building beyond your lifetime

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Website: https://www.dralexspinoso.com/

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