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Guest: Dr. Madan Kandula, a surgeon, entrepreneur, and the founder/CEO of ADVENT, a leading healthcare company providing solutions for people who have had life-long breathing and sleeping challenges. Dr. Kandula is also a client of CEO Coaching International.
Overview: Whether you’re running a Silicon Valley tech firm or a nonprofit in your hometown, getting BIG is never just a matter of driving up profits. Money is the fuel that powers the greater mission, which lifts up employees and shareholders as well as customers and community. CEOs have to use that higher purpose as a guide for how to achieve meaningful scale that will also deliver a meaningful impact.
On today’s show, Dr. Madan Kandula discusses how he built ADVENT from a small practice to a thriving organization with over 300 employees and 25 locations across the Midwest. He also shares valuable insights on balancing profit with mission and how to effectively partner with private equity firms without compromising your vision for serving clients and Making BIG Happen.
Dr. Madan Kandula on taking on a private equity partner:
“I needed to figure out how to connect our services to all of the people out there who could benefit from them and by our very accurate estimates, we’re in the hundreds of millions of Americans who could benefit from having access to the services of my organization. So where that led me back around 2020 was recognizing that there’s certain skills I have, there’s certain skills and talents my organization has, there’s certain skills and talents that we don’t have and that we’re going to need to have in order to connect the dots from where we were back at that point to all those people out there who need our help. And so finding a financial partner was the only pathway for me to continue along the journey that I was on and to achieve the mission that I want to achieve. It’s not just about the financial aspect of that. It’s about the knowledge base and the resource and the skillset that private equity brings to the table. So if you’re going to climb Mount Everest, you’re not climbing on your own. And you’re going to find a Sherpa and that Sherpa better have skills that you don’t and knowledge that you don’t.
Dr. Madan Kandula connecting profit and mission:
“Profit funds the mission. If we’re not profitable as an organization, we’re not going to be able to grow. If we can’t grow, we’re not going to be able to expand our service offerings to more people. If we can’t expand our service offerings, what are we doing? We’re not growing, we’re shrinking. If we’re shrinking, it starts heading in the wrong direction. And so, bottom line, my goal is to make sure that this organization is serving our patients and being profitable while we do that so that we continue to be able to grow and invest in the good work that’s happening here.”
Dr. Madan Kandula on how coaching helped him reach his full potential as CEO:
“The coaching aspect is profound. I’m at my best when I have somebody who’s just telling it like it is. Whether you’re in a nonprofit or a for-profit or healthcare, whatever space you’re in, without a coach you might be able to shuffle your feet forward, but you’ll never unleash the potential that you could have. No CEO is going to be as capable as they could be without a coach. Randy Koch, who’s my coach at CEO Coaching International, has been a phenomenal asset, not just to me, but my team as well. CEO Coaching International has been a great benefit to me by finding somebody who’s got the right mindset and skillset to make me better and make my organization better.”
Links:
Using For-Profit Business Principles To Rapidly Grow His Nonprofit and Make a BIG Impact – Mark Miller explains how he professionalized his nonprofit and grew the organization by more than 700% in seven years.
Why You Should Challenge Your Company’s Core Identity – Here are the six aspects of core identity within a successful business, along with eight tools that we’ve designed to help companies rediscover what they can be and Make BIG Happen.
About CEO Coaching International
CEO Coaching International works with CEOs and their leadership teams to achieve extraordinary results quarter after quarter, year after year. Known globally for its success in coaching growth-focused entrepreneurs to meaningful exits, CEO Coaching International has coached more than 1,000 CEOs and entrepreneurs in more than 60 countries and 45 industries. The coaches at CEO Coaching International are former CEOs, presidents, or executives who have made BIG happen. The firm’s coaches have led double-digit sales and profit growth in businesses ranging in size from startups to over $10 billion, and many are founders that have led their companies through successful eight, nine, and ten-figure exits. Companies working with CEO Coaching International for two years or more have experienced an average revenue CAGR of 31% (2.6X the U.S. average) and an average EBITDA CAGR of 52.3% (more than 5X the U.S. average).
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