The Business Method: Interviewing Billionaires, Billion Dollar Founders & the World’s Most Successful People 🎧🔥 Ep.556 ~ BILLIONAIRE EPISODE | 72 Minutes of Wisdom from a Man That Built & Sold a $19 Billion Company ~ Drayton McLane
Mar 22, 2023
Drayton McLane, former CEO of McLane Company and owner of the Houston Astros, shares his remarkable journey from working in his family’s grocery store at just nine years old to building a $19 billion empire. He discusses the power of networking and collaboration, emphasizing how he invited competitors into his facilities. Drayton also talks about the rising trend of entrepreneurial success among those prioritizing experience over education and reflects on balancing personal values with business ambitions. His insights on leadership and community in entrepreneurship are truly inspiring.
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Early Work Ethic Formation
- Drayton McLane began working at 9 years old in his family's grocery business, doing simple tasks to learn work ethic and be comfortable around employees.
- His father taught him the importance of being around people and expressing himself early on.
Effective Board Governance
- Boards should focus on setting goals, hiring, firing, and measuring the CEO's performance beyond just financials.
- Board members should visit company facilities annually to gain deep operational insight for effective oversight.
Boldness with Integrity
- To be a successful entrepreneur, have immense confidence and boldly pursue opportunities even if you don’t know all the details.
- Avoid illegal or immoral actions, invest conservatively, and learn from mistakes to improve over time.
