In this episode, James Bates shares his background as a pastor's son and how it shaped his perspective on family and business. The conversation explores seeking wise counsel, learning from mistakes, surrounding yourself with the right people, taking care of your relationship, philanthropy, the power of exposure, family business succession, growth as a father, being intentional, setting expectations, and faith in family.
Some highlights from our call:
“I've had great mentors, and they've told me, ‘I've made a lot of money... And I would go back and trade it all to have the time back with my kids, or have a relationship with my kids.' And I took that to heart from day one. So, my son has always been my priority. He has my time and attention first and foremost.” - James Bates
Additional key insights:
- Emphasize grace and authenticity in faith and fami ...
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Discover how Marcus Long explores the dilemma faced by entrepreneurs who aim to build a business for their family's future, only to realize that by the time they achieve success, their children may have already grown up and left home.
Discover how Matt King is staying in the investment game with patience and strategy, knowing that the right opportunity will come along eventually.
Tony Johnson discusses the high-risk, high-reward nature of real estate development, highlighting the potential for significant financial gains if land acquisition is managed correctly. He acknowledges that while the sector can create millionaires, it also sees many businesses fail. Tony emphasizes strategic decision-making as crucial to succeeding in this volatile market.
Chase Calhoun discusses the significant advantages of his entrepreneurial lifestyle, particularly in terms of flexibility and family life. He expresses a desire for his stepson, Nico, to recognize the value of being able to earn well while also enjoying the freedom to travel and participate in enjoyable activities—advantages that are not typically available in a standard office job. This lifestyle not only allows for financial stability but also enriches family experiences, making them more memorable and valuable.
