Starting Small: Richard's Strategy of Buying Used.

Starting Small: Richard's Strategy of Buying Used We're back, and before the break, we learned about the humble beginnings of Costa Rica's center and how Richard Blank, as founder and CEO, scaled his operations without outside investments. But how? Well, one thing he did in the beginning was buying used. That is, he strategically purchased either brand new or gently used furniture and computers from other centers that were going out of business. Here's Richard. The Business Infrastructure show. Scale Tales From the Ground Up. How to build a center? Podcast Episode #213 Curing back office blues. Growth is not a bad thing. But too much growth, too fast presents a set of challenges often overlooked when discussing small businesses. The emphasis tends to center on the marketing and promotion necessary to grow your business, and not on the operations and business infrastructure needed to scale your business in a sustainable manner. These back office operations can make or break your business. The Business Infrastructure show provides solutions and real life stories to owners and operators of fast growing small businesses seeking practical tips for dealing with growth spurts. A few years after graduating from university, he accepted an offer to conduct training at a center in Costa Rica. At 27 years old he decided to Costa Rica home. That was over 20 years ago. And he never looked back. In this episode, Richard takes us on his journey as he leverages his advanced Spanish-speaking skills, business prowess, and emotional intelligence to build and scale Costa Rica’s Center from a one-seat to a 300-seat operation. While his friends pursued careers in fields like law, medicine, and technology, Richard Blank went in a completely different direction – language. In fact, his love of language and communications led him to study abroad for one semester in Spain. That experience changed the trajectory of his life. Discover how Richard used a cash-only approach to invest in the business infrastructure required to lay a foundation for sustainable growth, his tips for reducing attrition, and why he urges entrepreneurs to “act their wage.” Growth is not a bad thing. But too much growth, too fast presents a set of challenges often overlooked when discussing small businesses. The emphasis tends to center on the marketing and promotion necessary to grow your business, and not on the operations and business infrastructure needed to scale your business in a sustainable manner. These back office operations can make or break your business. Following a Path Less Traveled Richard, surely there's more to your story than this. Let's try that again. That's why you do the best interviews, Alicia. Thank you so much. How about this? When I was in high school and I graduated, most of my friends were going to Ivy League and studying law, medicine, engineering, and architecture. I myself decided to double down on languages. It was my favorite class. And at the University of Arizona, once again, being a communication major, I was able to focus on public speaking rhetoric and nonverbal communication. And so that was very important for me. Sometimes I kind of felt like a dreamer. and i was almost doing this alone but since my great-grandparents came from europe from romania russia germany and Poland, they came at the turn of the century. And so when they came to the United States in the early 20th century, and they learned English and were entrepreneurs, it was pretty much my strongest argument to my parents on what I was trying to do. Our family were nomads, we were risk takers. And for me, all I know is that I wanted some sort of adventure. And I know that by learning a second language, it would open many doors for me. And so my natural progression pretty much got me to where I am today. Growth Through Cultural Exposure Backpacking around Europe opened a whole new world for Richard. He learned the valuable lessons of evaluating and focusing on what really matters in life, as well as not taking certain things, experiences or people for granted. And what I figured out then was that the things that we hold so dear in the United States really didn't make a difference overseas. We're really just looking at your essence. So it just opened my mind. that there are other places in the world where I could learn and be accepted. And I guess my main thing, and I'm very proud of this, is that when you're 21 years old in Europe, all you want to do is party and have a good time, which I did. But if a party began at eight o'clock, what I made sure to do before that time was to see as many museums and buildings and as much artwork and architecture as I could. So at least I could put in my time to grow and see these incredible historical artifacts that made our cultures, our Western civilization. And so that was the year that I read more books and didn't watch television and really mastered Spanish. And so that was probably the year that I grew the most. Introduction: Overcoming Challenges and Fears Have you ever wondered what it would be like to live or work in another country? Be honest. I know I have. It’s a big reason why my team operates remotely around the world. But it’s not the same as living in those countries. How do you get over the mental hurdles to try something different in your business when everyone is telling you, no, no? This is the Business Infrastructure Podcast, the show where we offer strategies, tactics, and resources to cure back office blues and keep your business operating as good on the inside as it looks on the outside. I’m your host, Alicia Butler-Pierre, and you’re about to hear from someone who set his fears aside, listened to his inner voice, and proved all the naysayers wrong when he started a business in another country. This episode is brought to you by Equilibria Incorporated, the company behind this podcast where we design scale-ready business infrastructure for fast-growing small businesses. Richard's Pinball Collection and Its Role in Company Culture And you know what? It was true. As I looked at Richard, he was dressed impeccably. Not sure if you noticed it, but he mentioned playing pinball. Here's another interesting fun fact about Richard. He owns the largest collection of American pinball machines in Costa Rica. For him, providing a place where his team can have fun on the job is equally as important as them providing quality service. After all, all work and no play makes Jack a dull boy. These are such amazing machines, and they're usually older than the agents. And you and I both know that when you play these games on the Internet, it's one thing. But when you are with the machine, especially pinball, You can really feel it. https://youtu.be/qw09sFl1DZU https://youtu.be/Gpq-w_WWdn8 https://youtu.be/Cf1PDpZu67M https://youtu.be/It9x2zUkxC8 https://youtu.be/TYSM3A8Wlx0