#96 James J. Hill (Empire Builder of the Northwest)
Founders4 Marras 2019

#96 James J. Hill (Empire Builder of the Northwest)

What I learned from reading James J. Hill: Empire Builder of the Northwest by Michael P. Malone. ---- James J. Hill demonstrates the impact one willful individual can have on the course of history [1:00] If you want to know whether you are destined to be a success or a failure in life, you can easily find out. The test is simple and it is infallible: Are you able to save money? If not, drop out. You will lose. You may think not, but you will lose as sure as you live. The seed of success is not in you. –James J. Hill [3:30] Early life and education [7:58] What James Hill learned from history: The power of one dynamic individual [9:09] Hill strikes out for adventure [10:48] Hill makes it a priority to seek out mentors to learn from [14:44] Starting his first business [18:22] Hill’s strategies on building businesses & insights into his business philosophy [21:50] Hill’s edge: An obsession with knowing every detail of his business [29:22] Burn the boats/ going all in/ when you have an edge, bet heavily [34:31] Stay close to where the money is being spent [36:51] Hill had an edge because he took the time to educate himself more than others would [38:49] The power of maintaining your focus [40:00] The best defense against invading railroads was a better built system that could operate at lower rates [45:05] Great idea to think of your business as a living organism [55:40] A well run business is built slowly [56:32] ---- Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

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#367 Inside the Contrarian Mind of Sam Zell

#367 Inside the Contrarian Mind of Sam Zell

What I learned from reading Money Talks, Bullsh*t Walks: Inside the Contrarian Mind of Billionaire Mogul Sam Zell by Ben Johnson. ---- Ramp gives you everything you need to control spend, watch your c...

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#366 Mr. Beast Leaked Memo

#366 Mr. Beast Leaked Memo

What I learned from reading How To Succeed in Mr. Beast Production and how ideas from Sam Zell, Charlie Munger, Nick Sleep, Warren Buffett, Sam Zemurray, Bob Kierlin, Steve Jobs, Li Lu, Edwin Land, La...

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#365 Nick Sleep's Letters: The Full Collection of the Nomad Investment Partnership Letters to Partners

#365 Nick Sleep's Letters: The Full Collection of the Nomad Investment Partnership Letters to Partners

The best investors are not investors at all. They're entrepreneurs who have never sold. — Nick Sleep Nick Sleep’s letters are a masterclass on the importance of understanding the underlying reality of...

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#364 Nick & Zak's Excellent Adventure: How Nick Sleep and Qais Zaharia Built Their Investment Partnership

#364 Nick & Zak's Excellent Adventure: How Nick Sleep and Qais Zaharia Built Their Investment Partnership

How Nick Sleep and Qais Zakaria built their radically unconventional investment partnership. From the incredible book Richer, Wiser, Happier: How The World's Greatest Investors Win In Markets and Life...

10 Syys 202444min

#363 Li Lu and Charlie Munger and Warren Buffett

#363 Li Lu and Charlie Munger and Warren Buffett

I sent a friend this text: I'm working on another Li Lu episode but this one is about his remarkable investing career. Can be summarized by: 1. Studied Buffett and Munger. 2. Did that. Last episode wa...

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#362 Li Lu

#362 Li Lu

Charlie Munger said that Li Lu was the only outsider he ever trusted with his money.  Decades before Li Lu made Munger half a billion dollars, Li survived one of the most horrific childhoods imaginabl...

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#361 Estée Lauder

#361 Estée Lauder

Warren Buffett and Charlie Munger said it was a crime that more business schools didn't study Henry Singleton. I think it's a crime that more entrepreneurs don't study Estée Lauder. She is one of the ...

18 Elo 202458min

#360 Robert Kierlin: Founder of Fastenal

#360 Robert Kierlin: Founder of Fastenal

Since its founding in 1967 Fastenal has grown from a small fastener store in Winona, Minnesota, into a multibillion-dollar global organization. How did a small town “nuts and bolts” shop become one of...

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