A Guide to Unlocking Your Potential and Achieving Financial Independence with LaSean Smith EP10
Jul 1, 2023
auto_awesome
LaSean Smith, a seasoned media and technology executive, discusses his experiences at top corporations like Microsoft and Amazon. He also provides practical advice on achieving financial independence and aligning financial goals with purpose. Topics include the rise of AI, a step-by-step framework for success, and the 4 levers for excelling in business and career.
Starting a private equity firm focused on profitable companies with strong employee morale is a path to financial independence.
Embracing discomfort and continuously expanding one's talent stack is crucial for personal and professional growth.
Recognizing inflection points in technology, specifically the potential of artificial intelligence, can provide opportunities for entrepreneurial success and compounding growth.
Deep dives
Transitioning from Employee to Entrepreneur
The speaker discusses the decision to transition from being an employee to starting their own private equity firm, Kager Investments. They had reached financial independence, recognized the challenges of managing teams within the tech industry, and identified the potential of AI as an inflection point. They saw an opportunity in private equity, focusing on profitable companies with sound employees, and hiring operators to run the businesses. Their goal is to find companies in industries poised for growth and provide support and guidance to ensure their success.
The Importance of Getting Uncomfortable
The speaker emphasizes the importance of getting uncomfortable in order to achieve success and financial independence. They challenge the notion of seeking convenience and comfort, highlighting the need to push oneself outside of their comfort zone. They encourage individuals to expand their talent stack, learn new skills, build relationships, and embrace discomfort as a means of personal and professional growth.
Recognizing Inflection Points and Capitalizing on Opportunities
The speaker discusses the significance of recognizing inflection points in technology and leveraging them for entrepreneurial endeavors. They reflect on past technological advancements such as the internet, mobile devices, and cloud computing. The speaker believes that artificial intelligence (AI) will reshape industries and companies that fail to embrace AI will become obsolete. They position themselves at the forefront of this wave, capitalizing on the potential of AI and compounding growth.
Private Equity as a Strategic Investment
The speaker details their shift towards private equity investments, focusing on profitable companies with strong employee morale. They outline the process of valuing companies based on profitability rather than revenue, highlighting the importance of a sound financial foundation. By hiring operators to run the companies, the speaker can provide support and guidance while allowing employees to excel in their respective roles. This approach aims to generate long-term growth and success for the invested companies.
Key Point 1: Importance of Understanding the Reasons behind Company Sales
When a company is being sold, there can be various reasons behind it, such as the owner aging out, health conditions, divorce, or pursuing other opportunities. Sometimes, a profitable company may have to shut down if no one buys it. Employees usually don't have the resources or expertise to take over the ownership. Therefore, when considering buying a company, it's crucial to evaluate not only the financial aspects but also the overall satisfaction of the employees.
Key Point 2: The Framework for Achieving Financial Independence
Financial independence can be achieved by following a structured framework consisting of six pillars: building a valuable skill set, establishing strong relationships, finding ways to make money, staying financially liquid, investing in income-generating assets like real estate, and eventually attaining a level of freedom to pursue personal passions and goals. By understanding oneself, focusing on creating and managing assets that generate passive income, and taking control of one's time, financial independence becomes a realistic and attainable goal.
In this podcast episode, I speak with LaSean Smith, founder of CAGR Investments, a seasoned media and technology executive, the executive producer of six indie feature films and the author of his product strategy book, "Values-Based Business Design".
From his early introduction to coding on a TRS-80 MC-10 computer at the age of ten, LaSean's journey in technology began, setting the stage for an impressive career. He has held diverse roles in engineering, product management, and strategy, contributing to the early stages of the web, mobile, and mixed reality industries.
We delve into LaSean's experiences in management roles at Microsoft and Amazon, where he played a pivotal role in shaping strategy and operations for apps, games, and inspirational shopping.
We also dive deeper into LaSean's dedication to empowering individuals to achieve financial independence. Drawing from his experiences, LaSean provides practical advice and strategies for aligning financial goals with a sense of purpose and fulfilment.
What we talk about:
LaSean's experiences working for top corporations, and the lessons learned
A step-by-step framework for achieving financial independence
The rise and impact of A.I
The 4 levers that will help you excel in your career and business.
Connect with LaSean: Website: https://lasean.com/ Twitter: https://twitter.com/lasean?s=21&t=w9Il-CI8HSru3f9FT6f87g CAGR Investments: https://cagr.com/
