The Social Capitalist: Passion and Profits - An Entrepreneurial Journey (Rich Dad's Advisors (Paperback)) by Josh Lannon & Josh Lannon & Lisa Lannon & Lisa Lannon

Author:Josh Lannon & Josh Lannon & Lisa Lannon & Lisa Lannon [Lannon, Josh]
Language: eng
Format: azw3
ISBN: 9781937832438
Publisher: RDA Press, LLC
Published: 2013-02-28T00:00:00+00:00

Charles and I both relocated permanently to Salt Lake City, while Lisa stayed behind in Vegas with Haley, working and supporting the business from there. Every couple of weeks, Lisa would fly up to Utah for a weekend to assist us on site, and so all three of us could collaborate in person instead of by phone.

The first thing I did was meet with Richard’s “friends,” the licensing authorities at the city and state levels. What I discovered boiled my blood: Not only had Richard angered the licensing board, who were, in fact, not his friends, but the so-called expert had been lying to me. We faced a compliance challenge, in that the federal government considers addiction a disability, and views addicts as vulnerable adults. In Utah, the State Department of Human Services also has strict requirements when it comes to obtaining a license. In fact, the qualifications are no different than licensing a special needs home for adults with Down Syndrome or mental illnesses. We had known this going into the licensing request, and Spencer had actually warned us of this. But Richard’s lack of know-how and follow-through had actually driven us further away from obtaining our licenses in four months, rather than closer. This was much bigger than anything I had expected, and we had a lot of ground to make up.

Throughout the process of developing Journey Healing Centers, we had gotten the sense that the right people kept entering our lives at the right times. Apparently, we, as students, were ready to learn more and more, and the teachers continued to appear. But what we were now realizing was that everywhere we turned, we were encountering valuable lessons, and not all of them were enjoyable. Many lessons, like this one, were downright painful. It was saddening to discover that “friends” were really not friends, or even good employees for that matter. (This is also an important lesson in terms of forming your social enterprise team, but we’ll talk more about that later.)

Once I got past the initial shock that all the work we had been doing had been insufficient for our license, I made an appointment with the board, and got their list of requirements for achieving licensure. Although we’d had a basic licensing list initially, we discovered that we had not been aware of all the specific details that comprised the core requirements. I felt good to be moving in a positive direction, but it was now clear to me that it would take quite a while to form a positive relationship with them.

Not only that, but aside from the opportunity cost and lost income we were reeling from, we had now lost a combined total of more than $60,000—that was $40K in payments to Arvis, and another $20K+ in operating expenses. It was an expensive lesson, but it’s a good thing we learned it at that moment: If we wanted to build our business right and prevent ourselves from being manipulated, we needed to get control of it, and learn all the aspects of the industry that were essential to long-term success.

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