Entrepreneur Fight Promoter Who Turned $50K Investment Into $1 Million Offers Some A+ Business Advice
Roy Englebrecht, CEO of Roy Englebrecht Promotions, purchased his fledgling fight promotion business from his partner in 1992 for $50,000.
Since then he has worked with HBO Boxing, Golden Boy Promotions, and 36 current or former world champions including Shane Mosley and Johnny Tapia.
Oh yeah, he’s also sold the business four times for a total of $1 million.
Let’s see… carry the two… that’s a 2000 percent return on his investment. Not too shabby.
Recently, as part of an ongoing Entrepreneur series, Englebrecht shared some advice about facing challenges, motivation, and some five-star advice about how to be successful in business – any business.
He offered some common sense advice that a lot of people ignore, including himself… at least for awhile.
“Half of being smart is knowing what you’re dumb about. I realized that big isn’t necessarily better,” Englebrecht shared.
His best business advice, however, had to do with how he’s been able to sell his business over and over for a sizable profit.
“Here are some things I’ve learned over the years: Deciding what not to do is as important as deciding what to do. You have to evolve or you will die. If you give your customers a great show, at the right price, in a clean environment, and say “Thank you!” they will come back. Always run your business as if someone wants to buy it. That means you don’t have to be perfect, just better than anyone else! And remember there are a lot of good businesses out there, but people want to buy great businesses…”
Some of his favorite words of motivation? “It should never be about the money, it should be about what is fair.”
Words to live by, right there.
Read more about Roy Englebrecht at Entrepreneur.com.