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Invest In Yourself: The Digital Entrepreneur Podcast (Transcripts)
Unlocking Entrepreneurial Success: Rich Moyer on Franchising and Failure
Keywords for Directory
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Franchising;Business Strategy;Entrepreneurship;Sales Strategy;Real Estate;Networking;Leadership
Timestamps with Html format
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<p>[00:00:31] Introduction – Phil Better kicks off the episode and introduces Rich Moyer.</p>
<p>[00:01:15] Becoming an Entrepreneur – Rich shares his journey from the golf industry to entrepreneurship.</p>
<p>[00:02:28] First Business Venture – Discussion on Rich’s first business in the construction industry.</p>
<p>[00:03:59] Brokering Services – How Rich helped smaller companies connect with bigger players.</p>
<p>[00:06:20] Selling the First Business – Rich talks about the decision and process of selling his first company.</p>
<p>[00:07:33] Expansion into Ice Cream – The inception of Rich’s ice cream business with friends.</p>
<p>[00:08:57] Opening Self-Pour Taps – The transition into the bar industry and the innovative self-pour technology.</p>
<p>[00:11:21] Embracing Failure – Rich discusses the importance of failure as a learning tool in business.</p>
<p>[00:13:09] Franchising Strategy – Why Rich chose to franchise the Hopin brand.</p>
<p>[00:16:56] Work-Life Balance – Rich shares how he balances multiple businesses and family life.</p>
<p>[00:18:45] Financial Challenges – Discussing financial pressures and overcoming them in entrepreneurship.</p>
<p>[00:21:23] Coping with COVID-19 – The impact of the pandemic on Rich's bar businesses.</p>
<p>[00:22:38] Future Goals for Hopin – Rich's vision for the future of his businesses.</p>
<p>[00:24:17] Hiring and Team Building – Insights into recruiting and managing a successful team.</p>
<p>[00:27:31] Advice for New Entrepreneurs – Action-oriented advice for those starting their first business.</p>
<p>[00:29:30] Advice to His Younger Self – The importance of networking and building relationships.</p>
<p>[00:30:22] Closing – Rich shares where to connect and learn more about Hopin and his ventures.</p>
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Key Take
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<ol>
<li>Failure is your trampoline to success; it's essential for growth and learning.</li>
<li>The simplicity of systems and delegating ownership empowers employees and drives business ease.</li>
<li>Franchising allows for rapid brand growth while offering entrepreneurs an entry into ownership with established systems.</li>
<li>Action over everything; taking initiative and learning by doing are key to entrepreneurial success.</li>
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Meta Description
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Join Phil Better as he chats with entrepreneur Rich Moyer on turning failures into successes, franchising bar ventures, and achieving work-life balance. Unlock insights into entrepreneurial growth.
Guest Bio
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Rich Moyer is an accomplished entrepreneur and the driving force behind the innovative concept of self-serve taprooms with Hopin Brands. Known for his transformative impact within the bar and franchising industries, Rich's journey began in the golf sector before pivoting to entrepreneurship. Having founded his first company at the age of 26, Rich quickly expanded into diverse ventures, from construction to the popular homemade ice cream business with multiple locations. Today, he empowers aspiring business owners through franchising, helping them create vibrant communal spaces across the nation. With a focus on technology and customer engagement, Rich is committed to revolutionizing the hospitality experience while maintaining his personal mission of supporting and mentoring future entrepreneurs.
Book or Podcast Name
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Rich Moyer is an inspiring entrepreneur who shared his journey on "Invest in Yourself: The Digital Entrepreneur Podcast." Rich has not only succeeded in various industries like real estate, construction, and the bar industry but is also making waves by franchising his self-serve taproom concept, Hopin. Emphasizing the importance of learning from failures and building strong relationships, Rich offers valuable insights for those looking to thrive in their entrepreneurial endeavors. To learn more about Rich's ventures or to connect with him, you can follow him on LinkedIn or Instagram, or explore the possibility of owning a Hopin at www.ownahopin.com.
📓 Blog Post
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**Succeeding Through Diversification: Rich Moyer's Inspirational Journey**
Join Phil Better and accomplished entrepreneur Rich Moyer on the latest episode of "Phil's New Website" podcast as they delve deep into the world of entrepreneurial successes, lessons in failure, and the critical insights about franchising. Rich Moyer, with his remarkable journey from the golf industry to becoming a leader in franchising, shares his wisdom and inspiring story of building multiple ventures across different sectors.
**The Leap: From Fairway to Entrepreneurship**
Rich Moyer’s story begins on a picturesque golf course in Myrtle Beach, South Carolina. Surrounded by successful entrepreneurs and salespeople, Rich realized that while he was golfing, his heart was on the other side of the counter. Inspired by his club members, Rich dived headfirst into entrepreneurship, launching his first business at just 26 years old, with a brokering firm in the construction industry.
**Building Blocks: The Blueprint for Success**
Rich's entrepreneurial tenacity became evident as he used lessons from his early career to craft a successful business model in a new industry and location. The foundation of his first business set the stage for his multidimensional ventures, guiding him through unstable waters and teaching the essential lesson of adaptability.
**Embracing Failure: The Trampoline to Success**
Failure is an integral aspect of any successful journey, and Rich isn’t shy to admit its importance. In the podcast, he highlights how failing is crucial for learning and growth, likening it to a trampoline that catapults you to success. For Rich, encountering financial hurdles or facing challenges in the construction sector paved the way for him to refine his business acumen and strengthen his resolve.
**Empowering a Workforce: The Key to Expansion**
Success in business goes beyond personal achievement; it involves cultivating a thriving team. Rich is a strong advocate of empowering his employees, ensuring their growth aligns with company success. By fostering a culture where failure is seen as a growth opportunity rather than a setback, Rich’s team operates under a unified vision of driving the business towards innovation and success.
**Franchising: Crafting Entrepreneurial Opportunities**
Seeing an overwhelming demand for his innovative self-pour taproom, Rich embraced the franchising route with his company, Hopin. By franchising, he not only provided a structure for rapid and efficient growth but also fulfilled his passion for empowering others to step into entrepreneurship. With each new franchise, Rich enables individuals from varied backgrounds to create vibrant business environments in their cities.
**Balancing Life and Business: A Harmonious Existence**
Among the challenges Rich addresses is the entrepreneur's classic struggle: maintaining a balance between work and personal life. Recognizing the need for peace of mind, Rich strategically hires skilled individuals to manage his operations, freeing him to invest quality time with his family. This philosophy underpins not only his daily operations but also his long-term vision for his business ventures.
**What’s Next: The Road Ahead**
As Rich continues to cement his status in the franchising world, he also envisages a future where he can extend his influence through mentorship and investment. His goal is to transition towards guiding emerging entrepreneurs, helping them avoid his past mistakes and fast-track their journey to success.
**Closing Thoughts: Wisdom from Rich**
In this engaging episode with Phil Better, Rich Moyer’s story of hard-earned success, applauding failure, and instilling values of empowerment offers a trove of insights for any aspiring entrepreneur. His narrative serves as a testament to the power of bold actions and a resilient spirit in the world of business.
For those looking to connect with Rich, explore diving into the world of franchising, or simply seek a spark of motivation, be sure to listen in and engage with his journey. As always, remember: invest in yourself, seize the day, and embrace the boundless possibilities of the entrepreneurial world.
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