236: Invest in What You Know Best with Richard Parker

Richard Parker, CEO of Diomo Corporation, is driven by a desire to make business ownership attainable for anyone committed to the journey, advocating the principle to invest in what you know best.

 

We learn about Richard's path from growing up in a lower middle-class neighborhood to becoming a successful business owner and mentor. He explains his 4-step Business Buying Framework, which includes discovering the right business for you, embracing imperfections, having a strong need to buy (burning the boats), and following a proven blueprint. He emphasizes the importance of understanding uncertainty, narrowing down options, and surrounding oneself with experienced advisors. His systematic approach helps prospective buyers navigate the complex process of business acquisition, turning their dreams into reality.

 

(0:46) Richard’s personal Why

(2:35) Entrepreneurship as a path

(9:34) 4-step Business Buying Framework

(19:22) Obstacle to becoming an entrepreneur

(23:52) Blueprint to success

 

Links and Resources

• Richard’s LinkedIn 
• Diomo 
• Test-drive Steve's Summit OS Toolkit: https://stevepreda.com/summit-os-toolkit/
• Management Blueprint Podcast on Youtube https://bit.ly/MBPodcastPlaylistYT 
• Steve Preda’s books on Amazon https://www.amazon.com/stores/author/B08XPTF4ST/allbooks 
• Follow video shorts of current and past episodes on LinkedIn https://www.linkedin.com/company/stevepreda-com/