Patrick Duong is a dynamic, results-oriented entrepreneur with a unique blend of experience in both investments and the health and wellness space. His career has taken him from being a senior executive with the largest health club in the world to being the Chief Executive Officer at Talent Evaluation Group, running a single-family office.

Patrick is also a keynote speaker and serves as a business strategist to shareholders, hedge funds, venture capitalists, private equity firms, and private credit strategies on strategy, operations, risk management, compliance, and marketing.

Things haven't always been this smooth for Patrick. In 2016, he experienced a huge failure which almost resulted in a death sentence, but he didn't let it hold him back. In hindsight, that was the biggest and most beneficial lesson in his life.

Recently, Patrick's firm added a few investors from private equity firms, venture capitalists, athletes, artists, and even a few celebrities. Although the health and wellness industry has been heavily affected by Covid-19, Patrick believes investors with deeper pockets will create more stability within the industry.

Also one of his start-ups has already received the funding that it needs to scale and they are excited to fully launch different product lines ranging from supplements, apparel, fitness apps, and over fifty CBD products all under his umbrella.

Advice For Businesses During This Pandemic:

Patrick's Advice for businesses during this period is simple, Don't Survive, Thrive. ⁣

"Innovation has always thrived in hard times. Desperation forces people to question the status quo. In good times, people may be less inclined to rock the boat, but when investors and customers are bolting for the doors, you have no choice. That's probably why some of the world's great companies were founded during recessions, businesses such as General Electric, IBM, Disney, Microsoft, and Adobe.⁣

⁣One of the world's most successful innovators, Apple, wasn't founded during a recession, however, the same principle applies. When Steve Jobs returned to take the reins in 1997, Apple was facing a crisis: too many products, too little focus, not enough revenue. What saved the day? Steve Jobs shaved Apple's product lines by 70 percent.

⁣⁣The main reason many companies fail is lack of focus. They start off doing one thing well, and then get attracted to - or distracted by - other opportunities. This is called the shiny object syndrome. Some may be successful, others not.

To stay true to your strategic core, you could do worse than look at the process of strategic turnarounds. Once a company has accepted that it has lost its way, a successful turnaround requires an extraordinary commitment to self-analysis, questioning, reflection, and day-to-day change.

It takes courage to admit that your company needs to reverse course. But successful turnarounds require everyone involved facing the brutal truth. Recession is Opportunity⁣." - Patrick.

Photo Credit: Johnathan Nguyen