Michael Roub is a Managing Partner of Inflection 360, a strategic consulting firm based in Los Angeles, California. Mr. Roub brings more than twenty years of financial and operational expertise across numerous industries including investment banking and healthcare. Prior to founding Inflection 360, Mr. Roub was Vice President of Business Development at Western Dental and Orthodontics where he led the acquisition of nearly 40 dental practice locations – the company’s first acquisitions in more than a decade. These acquisitions increased Western Dental’s practice locations by nearly twenty percent. Mr. Roub was previously the Vice President of Business Development for U.S. HealthWorks, which prior to its acquisition by Concentra, was the nation’s second-largest provider of occupational medicine services. During his tenure with U.S. HealthWorks, Mr. Roub acquired more than 20 practice locations in five states. Mr. Roub began his healthcare career with Specialty Surgical Center, where he oversaw the development of two multi-specialty surgical centers and led operations of an additional location. With over 100 physician partners at the three locations developed and operated by Mr. Roub, he developed a unique understanding of the operational and clinical drivers of healthcare businesses.
Prior to a career in healthcare, Mr. Roub was an investment banker with Donaldson, Lufkin & Jenrette where he was an Associate in the Leveraged Finance group and earlier a Financial Analyst. Mr. Roub left DLJ to become VP of Finance for a Silicon Valley start-up.
Michael Roub received a B.S. in Economics from the Wharton School of Business at the University of Pennsylvania with concentrations in International Finance and Marketing. Mr. Roub also received an M.B.A. from the University of Chicago Booth School of Business with concentrations in Finance and Accounting.
The combination of financial expertise and healthcare operations and corporate development roles have enabled Michael Roub and Inflection 360 to provide valued strategic advice and actionable results to numerous healthcare and other clients.
How did you get started in this business? What inspired you to start this business?
I started Inflection 360 as I am always seeking a challenge as enjoy working with different clients on a myriad of business matters. When acquiring medical and dental practices I recognized how few practice owners properly prepare for a sale of their business. The result was that the acquisition process was exceedingly difficult to navigate and the seller rarely had a qualified advisor to get the most value for their client. I sought to change that with Inflection 360. I wanted to provide small business owners and healthcare providers with strategic consulting and execution normally provided only by major consulting firms for large, corporate clients.
How do you make money?
Each client project is evaluated to assess the true needs for the client. Fees paid by clients are designed to ensure that the level of service and value provided exceeds customer expectations.
How long did it take for you to become profitable?
While Inflection 360 was only formed in late 2017, by early 2018 multiple clients were actively using our services. We have been fortunate to see continued growth and profitability in 2018 and beyond.
When you were starting out, was there ever a time you doubted it would work? If so, how did you handle that?
When I decided to form Inflection 360, I was confident that I would be able to bring value to clients. With my years of diverse experience, I looked forward to utilizing this knowledge to tackle any critical business issue for my clients. However, the one challenge that I did not initially consider was marketing. While connecting with existing relationships brought multiple referrals, I did not know whether I would be able to successfully market to gain new relationships and business opportunities. To address this concern, I began working with the team at www.brandingfast.com. They were able to help me better understand digital marketing and gain insight to attract new customers. In early 2018 Inflection 360 added its first of multiple clients that came solely via these marketing initiatives. Now the combination of client referrals and new client marketing has propelled our business forward.
How did you get your first customer?
My first customer came via my father-in-law who is an attorney. He recommended my services to a friend and client who needed both operational support and a perspective on selling their business. I first met with the client for three hours to understand their business, their concerns and the opportunities for the business. By taking the time to really understand the owner’s perspective, I was able to gain the client and began a long-term engagement.
What is one marketing strategy (other than referrals) that you’re using that works really well to generate new business?
I continue to utilize LinkedIn to network for my own business and to find acquisition opportunities for my clients. I pay for LinkedIn Premium which provides me with more information on other LinkedIn users, particularly when performing searches. This proves invaluable when trying to find what sometimes feels like a “needle in a haystack” opportunity for a client.
What is the toughest decision you’ve had to make in the last few months?
It has been more than a few months, but the decision to leave the corporate world to launch my own consulting firm was difficult. While I very much wanted to be independent and work with multiple clients, leaving the security of a corporate position behind was not easy. However, I took the time to reflect on what I truly wanted to achieve in the next several years and ultimately made the right decision for me and my business.
What do you think it is that makes you successful?
I am driven and always looking to move forward. I use the past as a reference and to provide some guidance, however, I do not dwell on mistakes or failures. Rather, I look to each day as a new opportunity to be successful and create value for my own business and that of my clients. In addition, I have always liked a challenge, as it keeps me focused and driven.
What has been your most satisfying moment in business?
It is hard to come up with one most satisfying moment, but I do vividly recall the first initial public offering I worked on as an investment banker. The company was Eagle USA Airfreight and it was such a great experience to work through the process and see the company become public. Of note, the CEO was an ambitious executive that has had decades of ongoing success; Jim Crane is now the owner of the World Champion Houston Astros, so it is particularly gratifying to recall his early success.
What does the future hold for your business? What are you most excited about?
Inflection 360 will face untold opportunities and client business challenges in the years ahead. That is what excites me the most. Not knowing what each client will need and having to develop a roadmap to drive a successful outcome is extremely motivating. I am up for the challenges ahead and am extremely excited about the future.
What business books have inspired you?
Steve Jobs’ biography is a must read. While I don’t seek to manage like him, nor do I possess many of the skills that made him so incredibly successful, the passion and relentless pursuit of his goals is beyond inspirational. The 7 Habits of Highly Effective People is also something that every business professional should read at least once during their career.
What is a recent purchase you have made that’s helped with your business?
I recently purchased a paper subscription to the Wall Street Journal. For the last several years I have read only the digital edition, but I found that sitting with an actual paper each morning has been much more engaging as I end of reading articles on topics that I would otherwise scroll past online. Sometimes going back to the basics is a very productive thing.
What is the specific attraction to mergers and acquisitions?
Working with clients to be in a position to either be acquired or to acquire another business presents unique challenges which can be highly disruptive to management without proper planning and implementation. Having worked with clients and companies over the past 20 years, I have learned several valuable lessons on what to do, and more importantly, what not to do when working through a sale or acquisition process. From financial due diligence to investor presentations, a lot of time and energy can be consumed without producing optimal results. I look to keep management focused on running their core business, while I add the necessary resources to produce optimal outcomes.
Who is your role model?
I am fortunate to have two role models. Fortunately, both are extremely close to me.
My father was a corporate executive for many years and mentors me to this day. He has always been a brilliant, yet modest person. Tremendously successful and tough when needed but respected by all of his peers. Most importantly, whether another executive, a secretary or a cleaning person, my dad has always treated every person he encounters with respect.
My wife Lisa was diagnosed with breast cancer in 2014. It was extremely tough and scary news. Fortunately, my wife tackled it head-on. We have been married for 20+ years but nothing has been more inspiring than seeing her fight without complaint, do anything necessary to eliminate the cancer and mitigate any potential concern and to win the battle. It was easy to complain about little things prior to what she went through. Now, I have a much better perspective on life and a true role model for when times get tough.