In this episode
- Valuable lessons Gabe has learned over the past few years, and how these have improved his entrepreneurial abilities. (01:14)
- Comparing capital deployment to capital preservation, and why Gabe focuses on the latter. (08:16)
- How Gabe decides where to invest his money. (16:16)
- Why, as an investor, you should be asking yourself, “What’s the point?” (22:06)
- Gabe explains the problem with putting too much emphasis on selling your company as a money-making strategy. (26:23)
- What Gabe sees as one of the fundamental keys to success. (31:38)
- Advice for hiring the right people. (33:18)
- Environments and cultures that Gabe thinks entrepreneurs should be cultivating within their companies. (39:51)
- How people in management positions view their employees and what needs to change. (44:35)
- How Gabe defines success in his personal and professional life. (49:21)
Highlights / Key takeaways
- Focusing on capital preservation rather than capital deployment is a way to create value in the long term.
- On your entrepreneurial journey, the people you surround yourself with are some of your most significant assets, so choose them wisely.
- Creating environments wherein team members have autonomy and feel valued is of the utmost importance.
- By reframing our definition of success, we can change the world for the better.
Best Advice Gabe would give to someone who is transitioning from a 6-7 to 8 figure business:
“With great people, we can do anything.” (32:54)
People are the cornerstone of business success. Surround yourself with people whose values align with your own, who are passionate and deliberate in their efforts. Those people will help you create the most value.
How Gabe defines success for himself (50:11)
“Being here is the success. Not to minimize the challenges that human existence produces, but being engaged with your community, working toward something, anything, as long as it’s not harmful, I think that’s a success, and I would argue that almost all of us, globally, we need to really start rallying around our successes and our ability to succeed.”
How are you creating long-term value in your business?
Tell us on our social media, and don’t forget to say hello if you would like to share your entrepreneurship story on our podcast.
Mentioned in this episode:
Good to Great by Jim Collins: https://www.amazon.com/Good-Great-Some-Companies-Others/dp/0066620996
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