Warren Buffett's Recommended Book: The 10 Commandments Of Business Failure w/ David Fagan (TIP639)

Clay is joined by David Fagan to discuss Don Keough’s book, The Ten Commandments of Business Failure. 

Don Keough was the President and COO of Coca-Cola. During Keough’s and Roberto Goizueta’s leadership, Coca-Cola’s stock compounded at 27% per annum from 1981 through 1997. 

David Fagan serves as the managing partner at MBF Chartered Professional Accountants, a firm dedicated to supporting small and medium-sized owner-managed businesses across Canada. David was an early member of our TIP Mastermind Community, and he enjoys utilizing it to meet interesting people and learn more about stock investing.

IN THIS EPISODE YOU’LL LEARN:
00:00:00 - Intro
00:01:13 - Book Overview
00:05:03 - Quit Taking Risks
00:14:29 - Being Inflexible
00:20:31 - Assume Infallibility
00:28:43 - Business & Trust
00:37:20 - Put Faith in Experts
00:47:13 - Be Afraid of the Future
00:57:38 - David’s Entrepreneurial Lessons
01:00:54 - TIP Mastermind Community

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On We Study Billionaires, we interview and study famous financial billionaires including Warren Buffett, Bill Gates, and Ray Dalio. We teach you what we learn and how you can apply their investment strategies in the stock market.

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[lilywucain]

Really enjoy and appreciate your program Clay! Learned a lot from your show and your high quality guests!

[davidglad]

Half hour in that "rejection is protection" motto is golden! I believe that line everyone feels better not moving ahead with an action that makes everyone uneasy. PS I grabbed a copy of this book, but never got around to it (yet). Clearly that other idea of it being dangerous sitting behind a desk versus seeing reality is also a clever insight

[fredericosantarem-il]

Great to see David on the show 🙌
And great to see that We were both reading the same book Clay (I Read it on the 17h flight to Omaha )

[brianbirnbaum]

As a CEO, can relate to this. The posture of running a business is paradoxical. Requires nuance and complexity of character, or you will fail through dogma and tunnel vision.

[gisellmorales]

Amazing content to apply to any business! I am a Real Estate Investor and all that have been discussed here apply to my business. Not taking risk is a risk✔️loved it!
Just now I made a decision on buying a property where numbers are great, great ROI and the risk is a big tree in the back that COULD be a hazard in 10 years. I took the risk! Silly as it sounds… but it was something that almost made me back out, but took the risk and I have a lot of time to fix that situation. THANKS!!!!

[brianbirnbaum]

Ray Dalio is one of the biggest violators of his own principles in the entire industry. Y’all should read up because he’s a shady mf’er.