John Lott of Predicate Wealth Partners on Tough Board Meetings, Restructurings, and Mentorship

On this episode with host David Paul, John Lott, CEO of Predicate Wealth Managers, shares his insights and experiences in the world of finance and entrepreneurship. He emphasizes the importance of operating skills and the potential of digital currencies. John also discusses the challenges in the private equity market and the significance of alignment between investors and founders. He shares his personal journey of transitioning to entrepreneurship and building a successful business with his wife. John's passion lies in helping others find their purpose and achieve success, which led him to develop the 8-Block Method. Overall, this conversation provides valuable lessons and perspectives for both investors and entrepreneurs. In this conversation, the principal themes revolve around finding passion, sustaining motivation, and the resilience of entrepreneurs. The guests emphasized the importance of pursuing something one is truly passionate about, as it provides the necessary drive to overcome challenges. They discuss the idea that everyone has a plan until they face adversity, highlighting the need for resilience in entrepreneurship. The conversation concludes with closing remarks and a call to action for listeners to subscribe, share, and leave reviews. You can watch/listen to the podcast on YouTube, Spotify, and Apple.

Takeaways

• Operating skills are crucial for success in business, and they are often more valuable than finance skills.
• The private equity market is not always efficient, and success depends on the alignment between sponsors and management teams.
• Effective communication and collaboration are essential for building successful partnerships between investors and founders.
• Working with a spouse as a business partner can be challenging but can also lead to personal and professional growth.
• The 8-Block Method is a framework for finding purpose and achieving success in life and business.

Chapters

00:00 Introduction and Background

02:09 The Importance of Operating Skills

03:25 The Potential of Digital Currencies

05:25 Challenges in the Private Equity Market

07:41 The Importance of Alignment Between Investors and Founders

09:07 Effective Communication and Collaboration

11:04 Transitioning to Entrepreneurship

14:28 Lessons from Building a Successful Business

17:55 Working with a Spouse as a Business Partner

23:19 Starting Predicate Wealth Managers

25:37 The 8-Block Method and Building a Legacy

40:47 How to Learn More about the 8-Block Method

43:31 Finding Passion and Sustaining Motivation

44:01 The Resilience of Entrepreneurs