“Make sure you have enough capital to better take care of your needs. Because if you don't, then you're at the mercy of banks, or whoever else you have to deal with.” - George Joseph
On this episode of The Engineering Passive Income Show, Joseph is joined by George Joseph as he discusses the story behind his business ventures and how he ended up with multiple income-generating businesses. He emphasizes how establishing good relationships and maximizing support would provide maximum returns when handled right and how we must strive towards diversifying our income sources for better security.
Currently CEO of Common Bond Bistro Bakery Brassiere as well as Positive Recovery Centers, George’s history includes building a company called The Right Step from 300K in yearly revenue to 35 plus million and from 8 employees to over 300. Right Step was a drug and alcohol rehab company with locations throughout Texas. George sold Right Step to Private Equity backed company in 2012. During his leadership, he was recognized as National Drug and Alcohol Counselor of the Year and National Behavioral Healthcare Champion.
In 2014 during his non-compete phase George started Lightning Step Technologies, a current leader in the addiction field with an all-in-one Electronic Medical Record, Customer Relations Management, Revenue Cycle and Outcome Manager software as a service tool.
George purchased Common Bond Bakery and Bistro in December 2016. He began this adventure as a passive investor, but in December 2018, he quickly evolved into an active Chief Executive Officer for the continued development of Common Bond’s growth. George decided he was the leader for the job and acquired the company.
In 2017 at the conclusion of his non-compete, George reentered the drug and alcohol rehab space and started Positive Recovery Centers. George’s proven strength is creating a strong culture with the employees, this enables them to feel a connecting company pride that branches out to the consumer, and as a result, maximizes the success of the operations internally. Due to his hard work and commitment to his employees and their mission, he was recently honored as Most Admired CEO by Houston Business Journal.
[00:01 - 11:35] Shifting the Focus Towards Growth
[11:36 - 20:08] Finding Security in Providing Basic Human Needs
[20:09 - 31:53] Maximizing Support and Learnings for Income Diversification
[31:54 - 33:52] Wrapping Up!
“The employees are your most important asset, and you got to really take care of them.” - George Joseph
“Focus on the things you can grow… Prove the morale of employees. You're going to be successful.” - George Joseph
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