Michael Dermer, Founder of The Lonely Entrepreneur | Entrepreneurial Lessons From A Category Creator artwork
Success Story with Scott D. Clary

Michael Dermer, Founder of The Lonely Entrepreneur | Entrepreneurial Lessons From A Category Creator

  • E92
  • 39:07
  • March 31st 2021

Michael is an entrepreneur, speaker, lawyer and founder/author of The Lonely Entrepreneur. Michael is considered the founder of not only a company, but an industry – rewarding individuals for healthy behavior. Michael left a promising law career to start IncentOne, the first company to provide rewards for healthy behavior. At the time, rewards in healthcare were not only non-existent – they were offensive. He was told over and over “we will never reward people for things they should be doing to be healthy.”

After bootstrapping for a decade, his company received a large private equity investment on October 15, 2008. Then the financial crisis hit. Ten years were gone in ten days. Bankrupt customers. Investment gone. Credit dead. Family dollars at risk. Angry investors. Family relationships on the brink. It would take two years of working 24 hours a day to save what took ten years to build. The perfect storm.

It was doomed. Or was it? Today, health rewards are everywhere, he sold IncentOne to industry innovator Welltok and his company is credited with creating the health rewards industry. What resulted was not only a business success, but the discovery of a unique method on how to thrive under the pressure, chaos and burden of being the entrepreneur. The Lonely Entrepreneur was born.

Show Links

https://twitter.com/michaelgdermer

https://lonelyentrepreneur.com/

Book Links (Aff)

The Lonely Entrepreneur - https://amzn.to/39vlpfg

Show Sponsor (25% Off Code: SUCCESS)

https://getmr.com/

Talking Points

00:00 - Michael Dermer, Founder of The Lonely Entrepreneur

00:55 - Career pivot, from law to founder.

04:27 - Early retirement… what’s next?

06:18 - Early entrepreneurial lessons.

12:13 - Thinking like an entrepreneur.

15:35 - How to get your first few customers.

19:27 - Four traits of successful entrepreneurs.

Success Story with Scott D. Clary

Welcome to the Success Story Podcast, hosted by entrepreneur, business executive, author, educator & speaker, Scott D. Clary (@scottdclary).

On this podcast, you'll find interviews, Q&A, keynote presentations & conversations on sales, marketing, business, startups and entrepreneurship.

Scott will discuss some of the lessons he's learned over his own career, as well as have candid interviews with execs, celebrities, notable figures and politicians. All who have achieved success through both wins and losses, to learn more about their life, their ideas and insights.

He sits down with leaders and mentors and unpacks their story to help pass those lessons onto others through both experiences and tactical strategy for business professionals, entrepreneurs and everyone in between.

To get more of the Success Story podcast, go to www.successstorypodcast.com.