Transcript
Scott Becker (0:00)
This is Scott Becker with the Becker Business in the Becker Private Equity Podcast. Today's discussion is don't judge a book by its cover. In this discussion comes out of several different experience in life and so forth. Most recently it comes out of the discussion with the name partner at a brilliant law firm that has been incredibly successful in that name partner who will rename the nameless and is asked to remain nameless. Explain to me today that they have their board and leadership meetings often at a Portillo's that's not far from their office or in the suburbs. So even though they're incredibly successful, they do incredibly well economically. They're the kinds of people that have multiple homes. They don't have to put on ears and go treat themselves when they have a meeting to a meeting that cost to to a meal that costs $200 a person. Rather they camp out and do their business of Portello's and maybe spend 20 bucks a person. And again, if you didn't know this in particular with how at least one of them looks sort of tall and bald and not particularly attractive, you would think that they're not as hyper successful as they are. But they hyper successful. Shares with me another story. One of their clients that is essentially a billionaire when that person comes to meet with them, doesn't say we have to go to prime and Provisions or some fancy place, but rather says let's go to Subway. Let's go someplace we could just get our meal done, talk and visit and get back to work and whatever we're doing. And again, it's not that there's something wrong with wanting to enjoy the nicer things in life or the better meal or the fancier meal. But. But I find it so appealing when you find these people that don't have to put on ears about them and try and live in a way that's comfortable and right to them versus what other people might think. Now every time we find somebody like that, we find somebody on the other side of the table at some point in doing a process for a business that we were an investor in, the investment bankers, the potential buyers of private equity funds, every time we went out, thought we had to go to some fancy, really expensive meal, which is always a beautiful thing because their perspective is somebody else is paying for that meal as well. It's never them paying for it out of their pocket. Their investors are paying for it or somebody else is paying for it, but not them, but it, but at some point it becomes the sort of increduality of it and Go super expensive and not really enjoy it very much either. That kind of pretension, we see so much of that we can't stand it. My hat is off today to this colleague of mine. Brilliant. You'd never think he's as successful as he is by looking at him, but he's actually a wonderful, driven, motivated person who's got fantastic personal skills and gives us all. But. But don't judge the book by its cover. I'll tell you a story that I often tell. Went into Restoration hard years and years ago and it's one of the reasons why I've always got sort of a love hate relationship with Restoration Hardware. I'm never one that dresses well. In fact, one of my close friends who also founded a really successful business like this other guy which thinking he's paying me a compliment, you're like one of my other close friends that doesn't care what he look. And I found that a little bit tongue in cheek. Offensive but, but funny. But the reality is to go into Restoration Hardware in the, in the salesperson, some, you know, beautiful woman looks at me and of course goes to the next potential customer, doesn't want to waste her spot with me who she thinks is white trash and won't spend very well. And again, it's another example of don't judge a book by its cover. She might have been right because I certainly don't like to spend that much. But I also, more than anything, looked like that we did end up spending and buying stuff from a different sales rep there who was equally put together but didn't treat me like I was poor white trash. The story today is don't judge a book by its cover. And also on the flip side of the assets, don't be a pretentious asshole either. Thank you for listening to the Becker Business podcast and the Becker Private Equity Podcast. Thank you very, very much.
