Today’s entrepreneur is a tech genius who has his hands in 3 companies, guiding them toward success through tech solutions that streamline and enhance efficiency, productivity, and market presence for other businesses.
From the need to be comfortable with failure (a common theme) to the significance of having faith (a newer message), Rick has plenty of wisdom to offer other entrepreneurs.
What are three things every Entrepreneur should know?
The first key lesson that Rick mentioned is not to let the fear of failure prevent you from taking action. Launching your venture is essential for success. Many promising individuals remain trapped in their comfort zones, unable to move forward because of this fear and so overcoming it is essential as an entrepreneur.
The next thing that Rick brought up was the importance of establishing a network in your field of interest as soon as possible. “There are no competitors,” Rick clarified. You will learn so much more from your network than you’ll ever divulge. Rather than viewing your network as rivals, think of them as potential collaborators.
Rick coined the term “co-opetition,” which essentially means sharing with and learning from your network as a means for growth and innovation.
Rick’s third piece of advice may not apply to everyone as it has its roots in his Christian nature. Rick attributed his achievements to God and highlighted how helpful it can be to place challenges and fears in the hands of the divine.
No matter your denomination, having faith in something can arm you with the strength and determination you need to succeed. If you’re not religious, having a close relationship with a mentor or someone you deeply respect can provide similar support.
This source of external guidance serves as a constant pillar of strength, reinforcing your confidence and self-belief.
What problem does your business solve and who are its customers?
Rick is the CEO of three companies that are all solving business challenges through the use of technology solutions. Each company caters to different aspects of these challenges:
The first company is a managed IT service provider that offers outsourced IT services to businesses, addressing issues related to workflow efficiency, productivity, and connectivity. By leveraging technology, they help businesses streamline their operations and overcome various IT-related obstacles.
The second business is a national distributor of IT solutions, that is slightly different from traditional hardware-focused distributors in that it provides subscription-based solutions. They offer a range of technology products and services, including cellular mobility connectivity, cloud services, cybersecurity products, software licenses, and IoT solutions.
Finally, Rick’s consulting company, Xaa S1, assists new tech companies in entering the indirect sales and distribution model. Many innovative products lack effective sales strategies which their market penetration. Rick’s company guides these companies in developing effective channel programs, legal agreements, pricing strategies, marketing messages, and more.
They then integrate these companies into their existing network, allowing them to test their products, refine their strategies, and eventually expand their distribution and agent networks.
In essence, Rick’s businesses collectively address the challenges businesses face in adopting and utilizing technology effectively. From managing IT services and offering subscription-based IT solutions to mentoring new tech companies in navigating sales and distribution, his ventures are dedicated to enhancing efficiency, productivity, and market presence for businesses through innovative technology approaches.
What inspired you to become an Entrepreneur?
Rick’s journey into entrepreneurship is rooted in his passion for business and automation, which began early in his life. His interest was further solidified when he worked as a repairman for copiers, calculators, and typewriters, and found that he had a knack for troubleshooting and problem-solving.
However, the true turning point came when technology rapidly evolved from typewriters to computers. Faced with the choice of continuing in the family carpentry business or venturing into the emerging computer industry, Rick chose the latter. He recognized the potential of computers to provide for his family’s future and embarked on a path that eventually led him to become one of the country’s first certified network engineers for Novell. He continued to adapt and grow with the technology landscape.
Throughout his career, Rick’s entrepreneurial spirit led him to own retail computer stores and system integrators and eventually led him to become the CEO of the three companies he is currently involved with.
If someone had given you a million dollars when you first started your business, what would you have spent it on?
If Rick had received a million-dollar investment when he first started his company, he would have focused on developing a comprehensive digital ecosystem to transform the traditional distribution model. Looking back to 2018, before the term “digital transformation” became widely recognized, Rick already recognized the need for a digital marketplace that caters to the entire supply chain, regardless of stakeholders’ roles.
Therefore, he would have channeled the investment into building a digital platform that encompasses different aspects of the supply chain. Integrating elements like partner relationship management systems, through-channel marketing automation, and transaction capabilities with the goal of breaking down the silos of information present in various stages of the supply chain to create an integrated ecosystem that streamlines processes and provides meaningful analytics.
Rick also would have encouraged open-sourcing solutions within the industry. He believes that open collaboration is key to fixing supply chain challenges efficiently, for the common good, rather than focusing solely on individual gains.
Rick’s vision would have centered around using technology to automate and streamline the supply chain, freeing up more time for meaningful human interaction. He emphasized that this approach doesn’t lead to job loss but rather enables individuals to engage in higher-value tasks and interactions, improving overall efficiency as well as employee fulfillment.
What is your proudest accomplishment as an Entrepreneur?
Rick has had moments of pride in each company he’s involved with, with CloudTechOne, the MSP, he’s proud of architecting and implementing a solution for a client that ended up saving them 300,000 dollars a year! They even won an award for this deployment.
This project was an all-hands-on-deck situation and they did whatever it took to bring it over the line. He mentioned being grateful for the award for his team as much as himself because of how hard they all worked together to make it happen.
For Xaa S1, it was picking a pony that “didn’t have a prayer to win the race,” as Rick put it, and then coaching that pony to actually win the race. Everybody else had told this company that they were entering a market with a pre-established market share, implying that no one would take them seriously and success could not be found.
However, Rick took them on and they ended up evolving into a very successful company. Helping companies grow is something he’s very passionate about and that was a big win for him.
What big goals are you looking to achieve?
Rick began his answer to this question by stating that “they’re all big goals when you’re an entrepreneur.” Too true. Although he has a list as long as his arm of goals for his companies, the ones he mentioned as being on the forefront were: for Channel Sales Pro he’d like to see substantial growth.
On the Xaa S1 side, seeing as he now has three or four tech marketplace companies with off-the-shelf but customizable products that are fighting for the opportunity to be the Xaa S1 tech marketplace, Rick is happy to have gotten to this point but anxious to see true success.
We love hearing new perspectives on common entrepreneurial themes as well as being exposed to entirely new thought patterns throughout these Entrepreneur Stories. If you have any wisdom to add, join the conversation today by reaching out to tell your entrepreneurial journey.
