The Multi-Billion Dollar Industry of Yoga: Yoga is a booming industry, with companies like Lululemon and Athleta profiting from yoga apparel. Entrepreneurs have recognized opportunities and created businesses around yoga-specific products. It has become the most popular form of group exercise in the US.
Yoga is a multi-billion dollar industry that continues to grow, with Americans spending over 12 billion annually on yoga-related activities. Lululemon and Athleta built entire businesses on it. The global yoga industry is predicted to exceed $200 billion by 2025. Entrepreneurs like Peter Stereos, founder of Manduka, recognized opportunities in yoga-specific apparel and higher quality yoga mats. Despite being an architect by trade, Stereos left his full-time job to start a business selling yoga mats. He targeted the best-known yoga teachers in America and built his business slowly and consistently. Yoga is now the most popular form of group exercise in the US, with a once-obscure Indian practice taking hold in Western culture.
How Pain Led to Passion: The Story of Manduka's Founder: Peter Sterios turned to yoga for relief from arthritic pain and found life-changing benefits in a consistent practice. His journey inspired the creation of Manduka, a leading global yoga brand.
Peter Sterios, founder of Manduka, initially turned to yoga due to severe arthritic pain in his neck. He stumbled upon a yoga class while rushing to a late morning class and was intrigued by the women in the room and their yoga postures. He was embarrassed for interrupting the class but the teacher's warm welcome and the encouraging looks of the other students convinced him to try it. Initially, yoga was difficult for Sterios, but he found solace in the mental and physical benefits of a consistent yoga practice. This incident changed his life and led him to founding Manduka, one of the world's largest yoga companies today.
Peter Sterios' Journey to Yoga: Yoga can provide not only physical benefits but also a sense of balance and life force. It can be incorporated into different lifestyles to help with various goals.
Peter Sterios, founder of Manduka, experienced the transformative power of yoga during a class that helped him relieve pain and refresh his mind. This experience inspired him and he became hooked on yoga. Even while playing rugby, he still went to yoga classes as a form of cross-training. Initially, his goal was to loosen his hamstrings, but he eventually realized that yoga offered him much more than physical benefits. It gave him a competitive adrenaline rush and a sense of life force. Yoga helped him balance his competing interests and he remained committed to it throughout his life.
The Importance of Finding the Right Yoga Mentor: Your choice of mentor can greatly shape your journey in yoga. Seek someone who inspires you both in their teachings and personal practice, and commit to learning under them for the most fulfilling experience.
Peter Sterios, an accomplished architect and rugby player, shifted his focus to yoga after meeting the influential and athletic yoga teacher Shandor Rey. This meeting ignited a curiosity in Sterios, and his weekend workshop with Rey resulted in a profound course change in his life. Although Rey's past as a special forces veteran in Vietnam added a paradoxical dimension to his yoga teachings, he studied with the renowned yoga teacher B.K.S. Iyengar for 25 years, making him a highly respected teacher. This encounter emphasizes the importance of finding the right mentor, as Rey's teachings and athleticism inspired Sterios to become his student and commit to a path of yoga.
Peter Sterios' Encounter with Iyengar and how it Impacted his Life: Iyengar's reason for practicing yoga was to feel good and open himself to possibilities. Yoga helps develop body sensitivity and alleviate stress. This experience influenced Sterios' life in business.
Peter Sterios had the opportunity to study yoga with Iyengar in India, thanks to his mentor Shandor Remete who wrote him a letter to skip the three-year waiting list. On his first visit, he attended Iyengar's 70th birthday celebration and was able to participate in the demonstrations and lectures. During the event, a reporter asked Iyengar why he does yoga, and his answer was simple yet profound, 'I like the way it makes me feel.' For Iyengar, yoga was a way to open oneself up to possibilities, develop sensitivity, and feel tension in the body caused by stress. Sterios' experience studying yoga in India also influenced his life in business.
From Practitioner to Entrepreneur: How One Man's Yoga Journey Led to a Successful Brand: Consistent dedication to a practice can lead to unexpected opportunities and success. Don't be afraid to take a chance and turn your passion into something bigger.
Peter Sterios's year of doing yoga six days a week in India transformed his mentality of being productive to being present. He studied with Iyengar, who made adjustments on him during morning classes. After returning to the US, people started asking him to teach yoga. He eventually rented space at a community center and charged $10 for his class. As his class grew, a friend advised him to get his own space. He found an old brick building and established a yoga studio, which eventually became Manduka, a well-known yoga brand. Sterios's transformation and perseverance show how a dedicated practice can lead to unexpected success and opportunities.
The Rise of Manduka Founder, Peter Sterios: Peter Sterios' success story teaches us that hard work, persistence, and innovation can overcome even the most challenging obstacles. Don't give up on your dreams and continue to push boundaries in your field.
Peter Sterios, the founder of Manduka, initially started his yoga studio in an odd fellows hall that had been empty for 12 years in San Luis Obispo. The landlord initially didn't believe in the power of yoga and rented out the space to Sterios for only $400 a month. However, the studio was a hit, proving to be a turning point in Sterios' life. In addition to running the studio, Sterios also wrote a monthly yoga column for Yoga Journal and organized calendars for his business manager, shandor. Sterios was also known for his innovation in the yoga equipment, especially with Mats. He was introduced to a black mat from Germany which inspired the thick and durable Manduka mats he would eventually create.
Discovering the Revolutionary Yoga Mat Made of Astroturf Underlayment: Peter Sterios' search for a high-performance yoga mat with stretch, cushion, and durability led to the discovery of a revolutionary product made of the same material used in Astroturf underlayment. This discovery inspired him to start his own business.
Peter Sterios discovered a high-performance yoga mat made from the same material used for AstroTurf underlayment in Germany. This mat was engineered to have a certain amount of stretch, cushion and durability. It was revolutionary because it provided better performance than traditional yoga mats which were made of mere carpet underlayment. When Peter wanted to buy this mat, he found out that the guy who makes them is not interested in shipping from Germany but instead wanted a business partner in the United States, and thus, offered Peter an opportunity to start a business. This led Peter to make a decision and thus, he started his own business of making high-performance yoga mats.
From Architecture to Yoga Mats - Peter Sterios' Entrepreneurial Journey: Believe in your product and take calculated risks, even when faced with challenges. Hard work and persistence can lead to success.
Peter Sterios, founder of Manduka Yoga Mats, shares his journey starting from running an architecture office and a yoga studio, while remodeling his house. Despite being $80,000 in debt, he saw the potential of selling yoga mats and took the risk of ordering $25,000 worth of them. He believed in his product and knew that people wanted it. However, he underestimated the space needed for his order and had to clear out his garage to store the mats. The order arrived on pallets, and with the help of a neighbor kid, he managed to stack them floor to ceiling. Despite the challenges faced, Peter's belief in his product paid off, and Manduka Yoga Mats became a successful business.
How Manduka Became a Successful Yoga Mat Company: Starting a business without a plan is challenging, but passion, problem-solving, adaptability, and networking can help overcome obstacles and achieve success.
Starting a business without a plan is challenging, but having passion and a problem-solving mentality can help overcome obstacles. Peter Sterios, founder of Manduka, used personal space in his house for a warehouse during a time of divorce, making the best of a difficult situation. The name Manduka, meaning frog in Sanskrit, was chosen for its unique sound and auspicious symbolism in yogic terminology. While initially targeting a small market in San Lu Obisbo, Sterios leveraged his connections in the yoga community and his experience studying with Yenga and writing for yoga journals to expand his reach. A combination of passion, adaptability, and networking helped Manduka become a successful yoga mat company.
How Peter Sterios Used Influencer Marketing to Boost his Yoga Mat Business: Giving free samples to influential figures in your industry and targeting them strategically can help establish credibility and lead to increased sales. High price points can also attract attention and work in favor of the product.
Peter Sterios strategically created awareness for his yoga mat product by targeting celebrity yoga teachers through a network he had established. He gave 75 mats for free to these influencers, including big names like Baron Baptist, Patricia Walden, and Shiva Ray. Eric Schiffman, another celebrity teacher, helped increase orders by teaching workshops in Midwest towns and endorsing the product. The high price point of $65 attracted attention and worked in favor of the product. Sterios realized the potential and hired a business consultant to help him ramp up the business. Targeting key influencers and offering free samples to establish a brand's credibility is a successful marketing strategy that can yield excellent results.
The Story of an Indestructible Yoga Mat with a Lifetime Guarantee: Persistence and innovative thinking can solve problems and lead to success in business.
Peter Sterios created an indestructible yoga mat with a lifetime guarantee and faced skepticism from a business consultant who thought it was a dead-end. However, Peter persisted despite problems with weight, color, and slipping by working with a factory in Frankfurt, Germany to solve them. His innovative approach included adding a texture to the bottom of the mat to prevent slipping. The black mat became wildly popular, and they eventually offered a lifetime guarantee in year eight. Peter's dedication to innovation and problem-solving showcases how persistence and unconventional thinking can lead to success in business.
Building a Successful Yoga Company from the Ground Up: Recognizing a growing market and providing a high-quality product can lead to international success, but managing a business still requires careful attention to cash flow and other challenges.
Peter Sterios, founder of Manduka, sold a product that he knew most people would only buy one of in the late nineties, when the yoga industry had not yet fully realized. However, he believed that the growth of yoga studios was a sign of a boom in the industry and that the United States' trends would eventually track internationally. Within three years, they had an international business going, and technical adjustments to the grip and textures of the mats increased the price to 75 but easily paid for the performance. The company maintained its studio relationships and individual retail customers, and the big box stores only came later. However, despite the increasing popularity and sales, the company still faced constant cash flow issues and struggled with managing the business.
How Manduka Overcame Financial Challenges and Prioritized Sustainability: Peter Sterios renegotiated payment terms and prioritized useful products over profit to sustainably grow Manduka's international business.
Peter Sterios, co-founder of Manduka, faced financial challenges in the early days of the company due to a lack of finance department and poor payment terms. The wholesale business was particularly troublesome, as they were often not paid on time, causing difficulties in managing inventory. With a track record and relationship with the factory, Sterios was able to renegotiate payment terms to 25% up front, 25% when it ships, 25% after the first month, and the balance after the second, allowing the company to function sustainably. As the company grew and diversified its products, Sterios prioritized supplying useful and innovative products without focusing solely on profit margins. These decisions allowed Manduka to turn a profit and expand its international business.
Trusting Your Inner Voice in Yoga and Business: Trusting your intuition is crucial in business and personal life. Challenges will arise, but with resilience and self-belief, they can be overcome.
Peter Sterios, the founder of Manduka, didn't see other companies as competitors but focused on his intuition, needs of studio owners, and what was lacking in his own studio. His mentor pushing him away turned out to be an ultimate gift as it made him confront his inner teacher and made him realize that he needs to listen to himself. He believes that in yoga and business, we all have such moments where we need to trust our inner voice. Sterios faced several challenges in his life, including divorce, the end of his partnership and friendship with Shandor, and a scary health diagnosis, but he overcame them with resilience.
Life-Changing Moments Can Bring Unexpected Gifts: When faced with a life-changing moment, prioritize what's most important to you and be open to new opportunities that may arise. Don't be afraid to make big decisions that allow you to pursue a better quality of life.
Peter Sterios' cancer scare prompted him to re-evaluate what was most important in his life, leading him to prioritize quality of life over corporate success. He ultimately made the decision to sell his yoga mat company, Manduka, in 2007-2008, with the help of a buyer he met during a sales trip. The decision proved to be a gift, allowing him to explore new opportunities and experiences. Today, Manduka continues to thrive as a prominent yoga brand. Sterios' experience serves as a reminder that life-changing moments can bring unexpected gifts and opportunities.
The Essentials of Negotiating a Company Sale: When selling a company, it's important to emphasize potential growth, assess the acquirer's values, maintain open communication, and align on shared goals for a mutually beneficial outcome.
When selling a company, it's essential to negotiate for the best deal, particularly by emphasizing the company's potential and future growth. It's also important to assess the acquirer's values and priorities to ensure a smooth transition. Despite agreeing on maintaining core values and dedication to the vision, the reality can sometimes be different. This may include disagreements on quality of life and decision-making processes. As a result, it's crucial to have open and honest communication throughout the acquisition process, from negotiations to the terms of the employment agreement and product development. It's vital to align on shared goals and values and ensure a win-win outcome for both parties.
The Journey of Manduka: From Honoring Traditions to Dominating the US Yoga Market: Manduka's success reflects the growing popularity of yoga as a mainstream exercise option, while still staying true to the spiritual roots of the practice. Hard work and chance play a role in success, but a non-physical connection is also essential.
Manduka, a prominent brand in the yoga industry, has strived to maintain its reputation and honor its roots despite being built by venture capital groups. The company's success has led to a multi-billion-dollar industry in the US alone, with Manduka accessories being sold alongside other major brands. Peter Sterios, the founder of Manduka, played a major role in transitioning yoga from a spiritual practice in rural India to a western environment accessible for people with physical limitations. He attributes his success to both hard work and chance, with the title of his book being 'Gravity and Grace', emphasizing the non-physical connection that drives us towards success.
The Impact of Brand Recognition and the Wisdom of Letting Go: A brand symbol can have a significant impact on its followers, and letting go and moving forward is essential in life. Exchange hugs with people, not just as teachers and students.
Peter Sterios, founder of Manduka, shares a story about getting lost in Spain and stumbling upon his brand's logo on the window of a yoga studio. This experience serves as a reminder of the impact that his brand has had on people's lives across the globe. The story also highlights the importance of brand recognition and the significance of a brand's symbol to its followers. Additionally, Sterios discusses an unexpected reunion with his former mentor, Shandor Remedy, and the beauty of exchanging hugs as people, not teacher and guru. This reunion confirms the wisdom Remedy provided Sterios by saying goodbye, showcasing the importance of letting go and moving forward in life.
Manduka: Peter Sterios
Recent Episodes from How I Built This with Guy Raz
Advice Line with Sadie Lincoln of barre3
barre3 co-founder and CEO Sadie Lincoln joins Guy on the Advice line, where they answer questions from three early-stage founders. Plus, Sadie breaks down how she introduced her novel fitness concept to new customers.
First we meet Dustin in Texas, who’s working on a brand identity for his ketchup-mustard combo condiment. Then Andrew in Missouri, who wants to convey the value of his newly-created yard game. And Randi in Alabama, who’s wondering if she should step back from being the sole face of her soon-to-be community gathering space.
Thank you to the founders of Ketchustard, Pizzy Products and Ruffner Treehouse Village for being a part of our show.
If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to barre3’s founding story as told by Sadie on the show in 2017.
This episode was produced by Carla Esteves with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Neal Rauch.
You can follow HIBT on X & Instagram and sign up for Guy’s free newsletter at guyraz.com.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Barefoot Wine: Bonnie Harvey and Michael Houlihan
Bonnie Harvey and Michael Houlihan started Barefoot Wine with $300,000 in debt and almost no knowledge of wine. What they did understand was how to sell it—with a carefree name and label that evoked the beach, and a consistent flavor and low price point that attracted shoppers who normally rejected wine as being too snooty. But winning over that audience took extreme patience, and years of pavement-pounding by Michael. In 2005—twenty years after launch—Barefoot had become ubiquitous, and was acquired by E & J Gallo, one of the biggest wine brands in the world.
This episode was produced by J.C. Howard, with music by Ramtin Arablouei
Edited by Neva Grant, with research help from Olivia Rockeman.
You can follow HIBT on Twitter & Instagram, and email us at hibt@id.wondery.com.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Advice Line with Leah Solivan of Taskrabbit
Taskrabbit founder Leah Solivan joins Guy on the Advice Line, where they answer questions from three tech founders working to identify and grow their core customer base.
First we meet Kate in Los Angeles, who wants her digital greeting cards to stand out in app stores. Then Shahn in Australia, who’s rethinking user acquisition for his couples coaching app. And Allen in Hawaii, who’s wondering about product-market fit for his online platform that teaches kids to play instruments.
Thanks to the founders of Poppy Notes, My Love Your Love and Dynabuddy for being a part of our show.
If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to Taskrabbit's founding story as told by Leah on the show in 2022.
This episode was produced by Kerry Thompson with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Robert Rodriguez.
You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Groupon and Descript: Andrew Mason
Andrew Mason was a 27-year-old with a degree in music when he co-founded one of the fastest growing companies of all time: Groupon. Its deep discounts on everything from sushi rolls to plastic surgery soon became a ubiquitous part of life in cities across the world. In 2011, just three years after launching, Groupon had the largest internet IPO since Google, with a valuation of $12.7 billion.
But people began to complain that Andrew was not up to the role of CEO: he was quirky and unpredictable, and unable to navigate the company’s rocket-ship growth and the surge of copycats that threatened it. Soon, Groupon’s revenue slumped, and Andrew was fired from the company he’d started. But like many of the best entrepreneurs, he learned from his failure. Today, Andrew runs a new startup, an audio and video editing platform called Descript. In fact, we use Descript to make this show!
This episode was produced by Chris Maccini with music by Ramtin Arablouei.
Edited by Neva Grant, with research from Kathrine Sypher. Our audio engineers were Maggie Luthar and Robert Rodriguez.
You can follow HIBT on X & Instagram, and email us at hibt@id.wondery.com. Sign up for Guy’s free newsletter at guyraz.com
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Listen Now: The Offensive Line with Annie Agar
Join NFL Insider and social media breakout star, Annie Agar, as she tackles the world of fantasy football, odds, props and parlays in “The Offensive Line.” Each week, Annie will break down the NFL’s juiciest and trendiest matchups and drama in her signature quick hitting style, while roasting players and teams (sorry in advance Cowboys fans), dishing out some ice-cold takes, teasing you with a weekly teaser 😉 and slamming the most “offensive” lines, odds and spreads. She’ll be joined by current and former players, and celebrity superfans for a fiery and fun slant on all things football, fantasy and Annie’s favorite picks!
Enjoy The Offensive Line with Annie Agar wherever you get your podcasts: Wondery.fm/TOL
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Advice Line with Scott and Ally Svenson of MOD Pizza
MOD Pizza founders Scott and Ally Svenson join Guy on the Advice Line, where they answer questions from three founders about strategic expansion, plus discuss MOD’s recent acquisition.
Today we meet Evan, who recently turned his Richmond-based pizza restaurant into a vegan frozen pizza company. Then Zebbie, a restaurateur in Birmingham who's looking to take his hot chicken concept on the road. And Christiane, a Los Angeles area tequila-maker on a mission to improve her industry’s labor conditions.
Thanks to the founders of Udderless Plant-based Pizza, Eugene’s Hot Chicken and Valor Bebidas for being a part of our show.
If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to MOD Pizza’s founding story as told by Scott and Ally on the show in 2023.
This episode was produced by Katherine Sypher with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Cena Loffredo.
You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Olipop: Ben Goodwin
When Ben Goodwin was growing up, the concept of healthy soda seemed as oxymoronic as jumbo shrimp. But for Ben, that presented an irresistible challenge: to create a beverage that evoked the colas and root beers of his youth, but was low in sugar and good for the gut. After years of painstaking effort and one failed brand, Ben and his partner launched Olipop in 2018. Made with fiber and prebiotics and sweetened with Stevia, it joined the growing ranks of “functional sodas,” launching first in natural food stores and spreading quickly to the big chains. This year, the brand is expected to do nearly $500 million in sales, and, as younger consumers drift away from legacy soda, Ben says Olipop will only get bigger.
This episode was produced by Sam Paulson with music composed by Ramtin Arabloui and Sam Paulson. It was edited by Neva Grant with research by Katherine Sypher. Our engineers were Robert Rodriguez and Kwesi Lee.
You can follow HIBT on Twitter & Instagram and sign up for Guy's free newsletter at guyraz.com.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Advice Line with Ariel Kaye of Parachute Home
Parachute Home founder Ariel Kaye joins Guy on the Advice Line, where they answer questions from three founders on being mindful and strategic in their next expansion steps.
Today, we meet Daen, an entrepreneur in Australia considering investment for his line of men’s grooming products after ten years of self-funding. Then Deanna, a former educator in New Jersey seeking new press for the emotional health tool she designed for children. And Meaghan, a Florida-based hard seltzer maker trying to gut-check biases in her male-dominated industry.
If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to Parachute Home’s founding story as told by Ariel on the show in 2023.
This episode was produced by Carla Esteves with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Cena Loffredo.
You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Insomnia Cookies: Seth Berkowitz
When Seth Berkowitz was in college, he was the cookie guy on campus. He’d grown frustrated that the only food he could get delivered late at night were standards like pizza or Chinese food. He had a sweet tooth, and he craved warm, homemade chocolate chip cookies. So he took matters into his own hands and started making and delivering cookies to students at his school. The operation soon went from a silly side hustle to a real business - and then an all-consuming struggle. But today, after decades of detours, long-shot decisions, and near-bankruptcies, Insomnia Cookies is now a $350 million dollar business.
This episode was produced by Alex Cheng with music composed by Ramtin Arablouei. It was edited by Andrea Bruce with research help from Katherine Sypher. Our audio engineers were Robert Rodriguez and Maggie Luthar.
You can follow HIBT on Twitter & Instagram and sign up for Guy's free newsletter at guyraz.com.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Advice Line with Jamie Siminoff of Ring
Ring founder Jamie Siminoff joins Guy on the Advice Line, where they answer questions from three founders about balancing short- and long-term goals.
Today, we meet Vico, an industrial designer in southern California who's launching a crowdfunding campaign for his patented ergonomic desk. Then Iyin, a Baltimore-based product specialist seeking to balance accessibility and profitability for her ethically-sourced chocolate brand. And Franchesca, an Atlanta area educator deliberating whether to pursue small-business certifications for her motivational classroom posters.
If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to Ring’s founding story as told by Jamie on the show in 2020.
This episode was produced by Carla Esteves with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Neal Rauch.
You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Related Episodes
131 - Sunny Saha On Unleashing the Power of Diverse Industries and Embracing Innovation
Join me in this captivating episode as I dive deep into the remarkable journey of Sunny Saha, the GM of Blue Prism. From his early days in market research to leading Time Warner Asia Pacific and launching the world's first Cartoon Network theme park, Sunny's diverse experience across industries will leave you inspired.
Discover how he thrived amidst industry transformations driven by technology and his unique approach to embracing diverse perspectives. Whether you're an entrepreneur or simply seeking motivation, this episode is a must-listen to unlock the secrets of success from an extraordinary leader.
---
- Sign up for Adrian's weekly newsletter: https://adriantan.com.sg/subscribe/
- Visit Adrian Blog: https://adriantan.com.sg
- Follow Adrian on LinkedIn: https://www.linkedin.com/in/adriantanck/
- Follow Adrian on Twitter: https://twitter.com/adriantan18
- Like Adrian on Facebook: https://www.facebook.com/adtan
#15 - Dr. Iman's Incredible Idea
From starting on a tractor in 2001 to owning the 130-400 FTE, golf construction business they pivoted after losing all sales in the GFC - adding golf course maintenance, design and renovation divisions (Craig Haltom)
In this episode, I interview Craig Haltom, President of Oliphant Golf Management (OGM). He is an active golf course architect and builder, and has a growing portfolio of high profile golf renovation work in the Midwest. As the lead at OGM, he is very much hands-on and in the field, with a talented team of managers based in Central Wisconsin. He started out on a tractor in 2001 and then in 2013 became 50% owner. Now he owns almost the entire company after buy-out financing from his business partner Mike, who founded the company in 1996.
The company provides golf course management, construction, design, and renovation. When the Global Financial Crisis hit in 2008, they went from $40 Million in annual sales to none overnight, with only one of the large golf course and real estate construction projects eventually being completed. In 2009, they built a bridge through the crisis, pivoted and started managing golf courses, now with 12 on their books.
Craig’s vision was to build a world class golf course in the rare sand dunes of Wisconsin, and right after the crisis, they started building Sand Valley, two 18 hole courses and a put three. With 130 full time employees stretching up to 400 in peak summer season and revenues climbing to around $40 Million a year, they grew organically through profits. He believes the hardest thing in growing a small business is, “Managing time. There’s never enough” and the advice he would give himself on day one of starting in business would be to believe in himself no matter what. Stay tuned for more on Craig’s super inspirational small business ownership journey.
This Cast Covers:
- Building the biggest putting green in the world that’s not attached to an actual golf course.
- Touching a lot of areas in the golfing industry since 1996 and doing very well.
- Managing 12+ golf courses in the Midwest, Wisconsin, Illinois, and Pennsylvania.
- Building Sand Valley while simultaneously starting a golf management company.
- Transitioning from running a tractor as an employee to owning most of the company.
- Generating revenues from straight fees, lease/shared revenue deals, and maintenance only contracts.
- The success in moving from managing everything personally to delegating some of the core tasks to employees.
- Improving on their marketing activities by hiring a dedicated marketing expert and how it led to the company’s growth and success.
- The difficulty in getting enough time as a business owner to do a lot and do it well.
- Getting better at guiding against the downside: Standing where the homeruns are versus the risks.
- The power of systems, team leadership 101, and how they deliver value to their clients.
- The importance of building a company culture of people knowing each other.
- Overcoming the business challenges that you go through by always believing in yourself.
Additional Resources:
Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/
Unleashing the Power of Technology & AI - Igniting Human Growth & Prosperity: Manuj Aggarwal
How Top Producers Are Leveraging AI In 2023! 🤖🌎
How Artificial Intelligence Will Revolutionize Real Estate & Lending: Part 2 Unveiled! Don't miss this great episode hosted by two leading experts in their fields - Eric Yokley & Bryan LaFlamme.
0:20 - 🤖 Chat GPT has a new paid plan with lots of ads
0:35 - 💻 Microsoft added Chat GPT to Bing and Edge to shake things up
0:45 - 🔥 Google has a new rival for Chat GPT called Bard
1:05 - 💰 Chat GPT can help with real estate, marketing, legal writing, and more!
1:55 - 🎨 MidJourney generates custom logos and designs with AI
3:33 - ✍️ Tome helps you create engaging stories and content with AI
3:50 - 🤔 AI is not here to replace us but to make us more efficient!
4:10 - 🚀 With these AI tools, you can take your business to the next level!
Love this podcast? Subscribe Today! https://theresource.tv
Tag an industry friend or share it on an industry group!
Join our thousands of FB fans: http://www.Facebook.com/TheREsource.tv
Twitter: https://twitter.com/theresourcetv
Instagram: https://www.instagram.com/theresourcetv