I believe any business with a viable addressable market can succeed in the long term and survive any internally created problem with 3 core competencies. Some problems blindside us. It’s not if but when a problem will happen, or an area will blow up. My long term strategy. 🧵
Persistence through difficulty is what most separates those who succeed from those who don’t.
Those whom endure hard tasks and solve challenging problems over an extended period succeed.
Intelligence isn’t the key factor - though I wish it were.
This is why we see morons with McLarens.
In 2010 I decided I wanted to own a family of companies and help bring their products and services to market. I wanted to be diversified and to protect my time so I could always place it where it mattered most any given day or week.
In 2012 my first company failed.
In 2012 my first successful company started, we exited in 2022.
In 2020 and 2021 my partner and I launched two other companies and this was the beginning of learning everything we could have done better in growing company 1. Just how much faster we could have done it. It lead to the exit of company 1 - we saw we had chosen a hard path with that industry and that easier paths existed.
In 2022 I bought a very small home services company for the cost of equipment and a month of turnover and placed a GM in place on day one. I seeded it one time and began an experiment to see if I could do it on my own without a partner and to see how much of my view of my judgement and ability was ego and how much was objectively true. I was laid back in under 6 months.
By 2025 that company is the largest provider in our county and top 3 in 3 counties.
I now own 6-100% of 8 companies.
I wasn’t on a bandwagon then and I’m not now. I didn’t read Hormozi or Sanchez (though I love their social media and plan to.)
My inspiration was actually Warren Buffett starting back in 2009/10. I started following him and reading his annual reports. I wanted to do in the SMB space what he did over decades with large companies.
I’m still very early in that adventure but one thing that I’ve managed to execute on well is the incredible amount of discipline it takes to NOT do a job myself or solve a problem myself at the first sign of failure.
Teaching staff to fish takes longer today but buys us more time tomorrow.
I consider myself still very early. It’s also situational. We are 8 figures across the family of companies, not 9. But the key to our success is our ability to select partners and hire operators. (I have gotten it wrong twice with partners but that’s not bad considering the overall.)
@elonmusk I felt the same way upon reading it. There’s workability for small business in this - an approach we can take to continue to be the backbone of the US economy without fear.
Being friends with someone that loves System of a Down but thinks Rage Against the Machine is just okay is like knowing someone that loves ice cream but hates gelato. Make it make sense.
@elonmusk When my son and I saw it in person for the first launch it was incredible. Only seeing it in person makes just how big it is real. Photos don’t do it justice.
Antonio Gracias lent Elon Musk $1 million in ‘08 to save SpaceX from bankruptcy for 7.2% of the company.
It’s now worth $90 billion, making it the single greatest investment in the history of the world.
People over focus on Musk and forget the wealth he’s created for others.