#213: From Getting Fired to Building Companies - Nik Hulewsky

Always Be Building

This episode's guest is Nik Hulewsky, the co-founder of multiple 7 figure businesses that he has successfully built and flipped. Nik started on the corporate career path and ultimately got fired from his job.
Rather than going back to the corporate world he used an SMB loan to buy his first business, a medical payments company. After a few years he grew the revenue of that business and exited. Since then he has gone on to co-found multiple companies and is currently partnered with Chris Koerner (a previous guest on the pod).
This episode we discuss the different business pursuits Nik has chased and talk about his successes and failures. We get into some of the specific business challenges that the medical industry faces and how technology is changing that space. Lastly, we talk about what Nik is planning for the future and how his past ventures have shaped the way he views new opportunities.
Hope you enjoy the show!
Timestamps:
00:00:00 - Precap
00:01:17 - Introduction and Background
00:01:37 - Nick's Early Career and First Firing
00:02:51 - Learning from Failure and Job Loss
00:07:58 - Transitioning into Entrepreneurship
00:10:40 - First Business Acquisition and Growth
00:11:09 - Insights on Control in Business
00:12:14 - First Venture and Learning Experience
00:14:08 - Expansion and Sale of Businesses
00:16:14 - Overview of Healthcare Provider Payment Methods
00:16:42 - Understanding Commercial and Private Insurance
00:17:11 - The Problem with the Healthcare System
00:17:40 - Discrepancies in Medical Billing and Pricing
00:18:22 - The Issue with Patchwork Pricing Models
00:19:09 - Advice on Handling Medical Bills
00:19:57 - Complexity of Medical Billing and Coding
00:20:38 - Data Challenges in Energy and Healthcare
00:21:58 - The Concept of Arbitrage in Healthcare
00:22:22 - Issues with Patient Records and Interoperability
00:23:28 - Opportunities in Solving Interoperability
00:24:47 - The Role of Machine Learning and AI
00:25:16 - Challenges with Data Formats
00:27:45 - Future of AI and Machine Learning in Healthcare
00:28:04 - The Importance of Company Culture in Startups
00:28:43 - Understanding Distribution in Business
00:30:30 - The Power of Content and Audience Building
00:32:02 - Different Strategies for Different Industries
00:35:48 - Maximizing Business Value through Channels
00:36:06 - Exploration of New Business Opportunities
00:36:46 - Theoretical and Practical Approach to Business
00:37:22 - Criteria for Business Interest and Investment
00:39:37 - Impact of Artificial Intelligence on Business
00:41:13 - Reflections on the Framework
00:42:52 - Future Plans and Opportunities
00:43:13 - Perfume Vending Business Case Study
00:46:24 - Conclusion and Contact Information