Rich Balot's Playbook for Making Big Happen

Rich Balot opened his first Victra store in 1996 with a mission: to save his parents’ marriage.

His father, a talented salesperson, had been unemployed for a few years, and tensions were high at home. “My idea was to start a business so my mom wouldn’t divorce him,” Rich reflects on those early days.

As a young entrepreneur in his twenties, Rich capitalized on the burgeoning cell phone industry by opening a store in the small town of Wilson, North Carolina. What began as a side hustle quickly expanded from two stores to three, and then to 50.

However, as Victra expanded rapidly, the company's growth outpaced its infrastructure. Financials were in disarray, prompting Rich to hire a CFO to bring order. Unfortunately, the CFO's manufacturing background didn't translate well to small-box retail accounting. Management issues extended beyond finances; systemic cultural problems plagued the company.

Fast-forward to 2022, Victra announced its acquisition of GoWireless. The company was back on track. Today, Victra has grown to more than $3 billion in sales and become Verizon’s largest authorized retailer.

Download the playbook for tips on how Rich and CEO Coaching International turned Victra around and a scorecard you can use to rate your own business.