In this episode of The Powell Perspective, host Thomas J. Powell welcomes long-time friend and business associate, Casey Minshew, to discuss entrepreneurship, lessons learned from failure, and success in real estate and investments. The conversation explores the importance of tenacity, the journey from failure to success, and the mindset needed to thrive as an entrepreneur. Casey shares his experience starting ventures, including a bar that failed, and how that shaped his approach to business. They also touch on the benefits of surrounding oneself with people smarter in specific areas, emphasizing the principle of "Who, Not How" from Dan Sullivan's book.

Casey discusses his ventures in workforce housing and accessory dwelling units (ADUs), detailing his innovative approach to affordable housing and the financial strategies behind it. Both Tom and Casey delve into the value of learning from failure, the frustration and triumphs of entrepreneurship, and their shared belief in the power of big ideas and big rooms filled with smart people.

Key Discussion Points:

• The importance of tenacity in business and life.
• Learning from failure: Casey’s journey from a failed bar business to successful real estate investments.
• The role of ego in entrepreneurship and overcoming it by delegating to smarter people.
• The "Who, Not How" concept: Hiring people who excel at tasks you struggle with.
• Casey’s work in developing innovative workforce housing solutions using accessory dwelling units (ADUs).
• The future of financing for ADUs and the challenges/opportunities in the space.
• Upcoming events, including Casey's October workshop on acquiring businesses from retiring owners.

Quotes:

• "Tenacity is the one trait that will determine your success."
• "If you’re the smartest person in the room, it’s time to find a bigger room."
• "Entrepreneurship isn’t for everyone. It’s filled with failure, frustration, and constant learning, but for those who thrive, the rewards are immense."

Resources Mentioned:

• Who, Not How by Dan Sullivan
• Harvard Business Review guide on buying small businesses
• Casey Minshew’s M&A Launchpad Conference – October 26th, Chicago

Upcoming Events: Join Casey at the M&A Launchpad Conference in Chicago on October 26th for expert insights on acquiring businesses from retiring owners, creative financing strategies, and more. Listeners of The Powell Perspective can access exclusive discounts by visiting M&A Launchpad Conference.

Connect with Us:

• Thomas J. Powell: LinkedIn
• Casey Minshew: LinkedIn

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