After a successful IPO of a medical imaging company, Rick Smith quit his job to bring advanced technology to the beverage industry, co-founded HyVIDA Brands, invented a method of infusing hydrogen gas (a power antioxidant) into beverages and launched the World’s first Hydrogen infused carbonated beverage.
Entrepreneurial Role Models:
- Bradley Patt Chairman of EVO Worldwide Inc
- Elon Musk
- Steve Jobs
- Sir Richard Branson
When business started difficulties overcame:
“I was 44 when I started this three years ago and family, mortgage – was on my journey in life. It’s one thing when you are 25. I didn’t want to do anything at 25 for a couple of reasons , one wanted to learn from others… But this was a bit of a calling. The key was really believing in myself. I think that’s the key part. And the belief came when I was running a company, it was in financial distress, we were raising capital, I was running it. And I had all the responsibilities of somebody who it was their own company… Of course, I didn’t have really much of an equity stake. And we were so resourceful in how we survived and then thrive and raise capital and resurrected the company. That instilled so much confidence in me”…[Listen for More]
Favourite Books:
- Steve Jobs: The Exclusive Biography Book by Walter Isaacson
- The Power of Who: You Already Know Everyone You Need to Know Book by Bob Beaudine
Favourite Quote:
“die with memories not with dreams”
Recommended Online Resources:
Quora is a question-and-answer website where questions are asked, answered, edited, and organized by its community of users in the form of opinions. Its publisher, Quora Inc., is based in Mountain View, California.
Best Advice to Other Entrepreneurs:
“do you believe in yourself? …the opportunities are coming and going all the time, you recognise them, some aren’t so good, some are really good. Question is, do you believe in yourself to do something about it? Are you willing to take that leap? You have got to believe in yourself. And if you do then put a plan together… Don’t be a pig and try to own everything. Find partners with complimentary skills, share a little bit of the wealth with them, give them a little bit of skin in the game because it’s amazing how adding partners can help”…[Listen for More]
More About Rick Smith:
Neil’s Quote at the Beginning:
“My biggest motivation? Just to keep challenging myself. I see life almost like one long University education that I never had — everyday I’m learning something new.” Richard Branson
Other Quotes From the Chat with Rick Smith:
- “surround yourself with people who are been there and done that. They can either be advisers. But advisers are one thing, make them partners. If they can add strategic value, real tangible value to the enterprise make them partners. Give them a little bit of skin in the game, they are going to guide you, challenge you and mentor you along the way. My view on this is I think they can de-risk any venture. Any time you bring people in, particularly if you are you looking to raise capital, people look at the team and if it’s you alone that’s a higher risk than you and some other complimentary people”
- “find people who are keen non-stakeholders that can give you advice who really don’t have a bias one way or the other and they are knowledgeable… They take the emotion out of the feedback. Those are really important individuals that can guide you”
- “I would have put more money and focus on branding and marketing early-stage… That’s one thing where I would have really ratcheted it up, the branding side, the story and the narrative about a year earlier in the process”
- “motivate people and get things done…Have a vision, identify the milestones to get their and mobilise people to get it done. And if people aren’t buying into your vision usually what happens is it’s not so much change to the vision either convincing people of the vision or finding the right individuals that buy into the vision and are tenacious enough to get it done”
- “in a start-up there are an immense number of things that have to come together and that have to be accomplished. And if you are not wired to just hammer it out and get it done and get it done swiftly and effectively it’s going to be impossible”
- “if you have got your idea and you want to do, time is money and the quicker you get done with things the faster and more efficient the more money you are going to have. It’s that simple.”
- “You can accomplish anything you want and it’s going to take people to help you to get there. And you don’t realise it but you already know enough people to get their”
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