Succeeding in both life and business is very difficult. The skills needed to scale a company often clash with those required to cultivate a thriving home life. Yet, Brent Beshore seems to have cracked the code—or at least he's actively working on it. In this conversation, he spills his secrets on excelling in both arenas.

This episode is split into two parts: the first 45 minutes covers life and how to be a better person. Brent opens up about the evolution of his marriage, physical health, and inner life.

The rest of the episode focuses on business. Shane and Beshore discuss private equity, how to hire (and when to fire) CEOs, incentives, why debt isn’t a good thing in an unpredictable world, stewardship versus ownership, and why personality tests are so important for a functional organization.
After beginning his career as an entrepreneur, Brent Beshore founded Permanent Equity in 2007 and leads the firm as CEO. He works with investors and operators to evaluate new investment opportunities.

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Sponsors:

Shopify: Making commerce better for everyone. https://www.shopify.com/shane

Protekt: Simple solutions to support healthy routines. Enter the code "Knowledge" at checkout to receive 30% off your order. https://protekt.com/knowledge

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Timestamps:

(00:00) Intro

(05:08) Why Brent examined his life

(09:44) How Brent "fixed" his relationships

(20:04) How helping hurts

(32:13) How Brent was subtly controlling relationships

(40:36) Why Brent stopped drinking (mostly)

(50:29) How to run a business with love yet competitively

(01:00:34) Win-win relationships

(01:05:34) On debt

(01:19:28) On incentives

(01:29:08) How to hire and fire CEOs

(01:34:18) What most people miss about hiring

(01:44:19) Brent's playbook for taking over a company

(01:51:20) On projections

(01:55:52) Revisiting investments

(01:58:44) How "hands-off" is Brent?

(02:08:34) Where people go wrong in private equity

(02:14:07) On success

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