Transcript
Colin O'Brady (0:00)
We can be and become anything that we set our minds to through diligence and hard work of saying I might not be this right now, but a fixed mindset says I might not be this right now and I will never be this ever. But being able to claim that in identity I am this a possible mindset says the possibilities are limitless.
Krista Mashor (0:18)
Come on this journey with me each week when you join me. We are going to chase down our goals, overcome adversity and set you up for a better tomorrow.
Unknown (0:27)
Fasten your seatbelt.
Colin O'Brady (0:28)
I'm ready for my close up.
Krista Mashor (0:30)
Happy New Year. Have you created your resolutions yet? If you need a little help in getting you into mindset that will challenge you to dream bigger than ever before, then this is what I have for you. Today's episode features some of my most successful guests in business who weren't afraid to dream big and then take the necessary bold action. Remember, they took the messy action. It's your turn now, my friend, and if you can dream it, you can create it. I truly believe that. Don't forget, if you need a hand, you need some accountability and you want to be a part of a team that's running with you. So you don't need to go it alone. Click the link in the show notes below. You're going to find the opportunity to sign up for my group coaching. Jump in now before it's too late. All right, this episode's going to walk you through how you can just go bigger. 2025. It's your year. Meet a different guest each week. Confidence Creators how do other entrepreneurs know when is it right to just focus on one thing versus diversify?
Richard Branson (1:33)
Yes. So in our portfolio. So Flight Group is our holding company. We have 41 different companies and I'd say we have significant operational involvement in about five of them, but there's 41 in total. Some of them are more passive investments. Some of them we might have a 20 or 30% stake in, and then some of them we have a majority position in. The key thing, to answer your question, is a company, by definition of the word is group of people. So for me, when I got to the point in my life where I had the leverage, the resources to hire exceptional people and delegate, that's when I knew I could do more than one thing. And Richard Branson, who I met in New York and I went to an event with him and then I interviewed him for a couple of hours, is the absolute master of this. He said to me, because he's dyslexic, so he struggles with reading, and he's not particularly good at maths. In his own words, he said to me, I've always had to ask who, not how. And this is like, my girlfriend started a business. It does, like, breath, work, and meditation. And I remember walking in the front room and watching her for seven hours try and figure out how to build a website. And that, for me, is almost a metaphor from what I see from entrepreneurship. They spend so much time. They waste so much time doing things that they are not good at. What Richard Branson taught me is business is about effective delegation. Richard Branson, in his 50s, ran one of the biggest groups in Europe, right? And he told me about a meeting he had at 50 years old, runs one of the biggest groups in Europe, where he sat in the meeting and his CFO says, richard, do you know what's going on? He goes. He's like, no. His CFO takes him out of the room, draws a picture of an ocean and then draws a picture of a net in the ocean and then puts some fishies in the net and goes, richard, this is what net profit is. Net profit is the fishies here in the net. At this point, Richard is running one of the biggest groups in Europe, and he doesn't know what net profit is because he's been such a good delegator for his entire career that he doesn't really need to know a bunch of stuff. He's so good at finding people and giving them responsibility. In this season of my life, that is what I'm doing. I'm finding exceptional individuals. I'm spending about 20 hours a week of my time on recruitment, and I'm empowering them to start companies again. I've researched this really, really deeply. I've interviewed Walter Isaacson, who followed Elon Musk for two years, and he followed Steve Jobs pretty much until the day he died. And I asked him, I said, what's their secret? He said, specifically, in the case of Steve Jobs, he said, you know Steve. I was in the backyard with Steve Jobs before he died, and I asked him a question. I said, what's the best product you ever built, Apple? Steve turned to me, and when the team, he goes, that's the most important thing. He goes, the iPhone's great. The Mac is great. But the best product I ever made at Apple was the team. By definition of the word company is group of people. And if you play out this thought experiment, if any of you had managed to hire Elon Musk and get the best out of him, you would be the benefactor of Trillions of dollars. So I think through that lens, my job is to find the next a player. And that's why I went from spending one hour a week of my time on hiring and recruitment. Now I spend 20 hours of my week. All of you, both personally and professionally, are in the recruitment business. It is going to be the single biggest defining factor of where you end up personally and professionally.
