Ugur Ozturk is the founder and CEO of VatanMed hair transplant clinics. In this interview with The Industry Leaders, he shares advice for business professionals. In particular, he explains the three things he wishes he had known at the start.
Background and Early Business Journey
For those who don’t know anything about you or your work, can you provide a bit of background?
I started my business in a small 70-square-meter shop in the Fatih district of Istanbul, Turkey. At that time, it was just me and one assistant. We operated as a beauty salon.
However, over time, I saw an opportunity in hair transplantation. Therefore, I decided to change our focus. We moved in a new direction. With the help of God, we have now become a global franchise with branches around the world.
I graduated from the Faculty of Pharmacy. Then, I opened the first VatanMed hair transplant clinic in 2007. Since then, we have performed thousands of successful procedures. We use FUE Sapphire and DHI techniques.
One of our main goals has always been patient comfort. For that reason, we focus on painless hair transplant methods. We also focus on exceptional care.
Over the years, we expanded the business step by step. By 2023, we had established 23 branches in 15 countries across 4 continents. Our success comes from our commitment to patient health. It also comes from professional staff, patient satisfaction, and the use of the latest healthcare technologies.
As an entrepreneur, I always aim to represent my professional team around the world. Therefore, I continue opening new clinics in more countries. I am married and have two children. In addition, I remain passionate about growing the business. At the same time, I want to maintain our commitment to excellence in hair transplantation and aesthetics.
Support in the Early Days
Was there any one person who was instrumental in helping you get from where you started out to where you are now?
Of course, there are many people to thank on an entrepreneurial journey. After all, no one builds a business alone.
First and foremost, my family gave me the initial support. That support was very important. In fact, it was crucial because we took a big risk in the beginning.
At that stage, we did not have strong financial support. In addition, I started this journey with close friends. They were also familiar with the field.
Advice That Still Matters Today
Is there a particular piece of advice you were given in the early days of your business journey that you still benefit from today?
Early on, I was advised to maintain control of day-to-day operations.
To this day, I still follow that advice. Even with a global business, I travel regularly. I also carry out assessments. Therefore, I do not think I will ever give that up.
Based on my experience, control is essential to business success. It creates the checks and balances needed for effective operations.
On the other hand, losing control creates risk. As a result, the business may face preventable challenges.
The Most Important Leadership Lesson
What is the most important lesson you’ve learned about leadership in your business journey so far?
Regardless of size, every business needs control. This applies to small providers. It also applies to large corporations.
Control supports timely decision-making. It also improves resource allocation. In addition, it strengthens strategic planning. Therefore, I strongly recommend that companies protect their control mechanisms.
At the same time, control alone is not enough. Loyalty among partners, employees, and customers also matters. In addition, patience in decision-making and planning is essential.
Three Things He Wishes He Had Known Earlier
What are the top three things you wish you’d known when you were just starting out?
In my opinion, three things have a major impact on business success. These are control, loyalty, and patience.
These three qualities need attention and effort. Therefore, I believe they can improve the long-term strength of any business venture.
Control
Maintaining a high level of control is crucial. It helps ensure that operations are managed effectively.
If you apply control from the beginning, you can prevent problems from growing. In addition, you can monitor each part of the business more closely.
Loyalty
First impressions can be misleading. However, loyalty is critical in building long-term relationships with employees, partners, and customers.
I work with people from many backgrounds around the world. Therefore, I have learned the value of taking time to understand character. Loyalty should never be underestimated.
Patience
Business is often unpredictable. In many cases, it is also challenging. For that reason, patience is essential when dealing with setbacks and uncertainty.
With experience, I learned that patience leads to better decisions. Ultimately, it also supports stronger long-term results.
Building a Strong Network
In your experience, what is the most effective way to build a strong network of mentors and advisors to guide you in your business endeavors?
In my experience, the best way to build a strong network is to evaluate people carefully. It is also important to understand their areas of expertise.
I believe that everyone has different strengths and talents. Therefore, it is important to identify the right people. Those people can offer real guidance and insight.
Communication is also very important. When I clearly explain my ideas and goals, I receive better responses.
I do not believe there are wrong people in life. Rather, I believe some people may simply be in the wrong roles.
By connecting with people who align with my vision, I have built a supportive network. In addition, clear communication has helped strengthen those relationships. As a result, that network has played an important role in my business success.
Knowing When to Pivot
How do you determine when it’s time to pivot, and what factors should you consider in making that decision?
I do not usually see it as changing course. Instead, I see it as moving to an alternative plan.
As a business professional, I understand that not every decision will be correct. Therefore, contingency plans are necessary.
When I need to decide whether to pivot, I rely on input from colleagues, lawyers, employees, and other stakeholders. Together, we evaluate the situation carefully.
We consider market changes. We also consider customer feedback, financial performance, and overall business goals. If the current strategy is not delivering the right results, we look at Plan B or even Plan C.
Therefore, flexibility and adaptability are essential. At the same time, we try to learn from mistakes. Then, we move forward in the best interest of the business.
Staying Motivated Through Ups and Downs
How do you stay motivated and inspired during the business cycle of ups and downs?
To stay motivated, I try to keep a realistic perspective.
I understand that both personal life and professional life have highs and lows. However, when I study the causes of those fluctuations, the challenges often feel more manageable.
I also try to maintain a positive mindset. In addition, I set realistic expectations. I also keep supportive mentors, advisors, and colleagues around me. Their encouragement helps during difficult periods.
I believe challenges create opportunities for growth and learning. Therefore, I try to remain proactive and solution-oriented.
Looking Back
Looking back, what one thing would you do differently if you could start your journey over again?
As I reflect on my business journey, I often ask myself one question: am I using my full potential?
That question has come to my mind many times. To be honest, I am still discovering the answer.
I believe in continuous improvement. Therefore, I never want to become complacent. Instead, I try to push my boundaries. I also seek support from the people around me.
My team and assistants provide valuable insight and support. Although I have reached important milestones, I still believe there is room for growth.
So, if I answer the question directly, I would say this: I do not believe I have yet used my full potential. I continue to challenge myself. I also continue to strive for excellence in my professional journey.
