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Takeaways of my podcast with JT Foxx “How to Be a Killer Shark in business” that attracted a million viewers

By : Ziad Abdelnour| 7 September 2023
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On Finding Deals and Partners:

1. Seek operators with a track record over smooth talkers. Require 10% skin in the game to ensure commitment
2. Vet people ruthlessly – focus on their reaction to tough questions more than credentials. Avoid prima donnas
3. Leverage networks to access opportunities. Rely on experts in each domain before investing

On Mindset for Success:

1. Adopt a “killer shark” mentality – be assertive, confident, anti-fragile, resilient when challenged
2. Channel anger productively towards achievement. Use challenges to trigger hunger and discipline
3. Criticize constructively. Buck the trend, question assumptions. Be a contrarian thinker

On Wealth Creation:

1. Master moving money and people. Everything else flows from this foundation
2. Monetize everything – information, networks, products, services. Wealth enables freedom
3. Take calculated risks. Failures teach humility.
4. Understand incentives. People’s motives reveal more than credentials
5. Adjust strategies based on changing conditions. Be neither fixed nor reactive

On Education:

1. Read extensively across domains. Ground decisions in research, data, expert input – not just intuition
2. Surround yourself with sharp, diverse thinkers. Iron sharpens iron
3. Continuously educate yourself. Arrogance and complacency kill progress

“At the end of the day it’s all about people. I don’t back industry, technology, etc… I back the right people.”

“If you ask me what is success really? Success is not about money and power and all the shit. Success is about empowering people. The more you empower people, the more you inspire them, the more successful they’re going to be.”

“It takes really two things to be on top of that. You have to be able to do things very, very well. Number one, move money. Number two, move people. It’s all about people and money.”

“At the end of the day, you become the average of the people closest to you. So, if you can find 50 to 100 people just like you, or close to you, you don’t need anybody else. This is it.”

“You have to swallow this stupid ego and channel your energies towards real action, tangible results. Make it quantitative.”

Key Insights:

Pedigrees and credentials reveal little. Look instead for demonstrated excellence, hustle, and grit. Past failures can strengthen future success.

Substance matters far more than form. Flashy displays of wealth like luxury cars, planes & boats often signify insecurity and lack of depth.

Information access doesn’t equal wisdom. Critical thinking, diverse inputs and reflection are required to convert raw data into sound decisions.

Only a small tribe of true supporters is needed, not fickle masses. Surround yourself with people who challenge you to grow.

The ability to attract and deploy financial resources is pivotal – no business idea succeeds without proper funding and personnel.