Multi-Billionaire Shares His SIMPLE STEPS To Success | Tilman Fertitta

0:00Hi, my name is Lewis Howes and welcome to the Daily Motivation Show.

0:08I have a brand new book called Make Money Easy. And if you're looking to create more financial freedom in your life, you want abundance in your life, and you want to stop making money hard in your life, but you want to make it easier, you want to make it flow, you want to feel abundant, then make sure to go to makemoneyeasybook.com right now and get yourself a copy. I really think this is going to help you transform your relationship with money this moment moving forward. We have some big guests and content coming up. Make sure you're following and stay tuned to this episode of the Daily Motivation Show.

0:50How do you spot the people who are truly wanting to achieve and who have that positive energy? Because sometimes people, you could bring people on your team and they could have that in the beginning, but they can kind of lose that or they can spin off a negative cycle. Are you very loyal to the people that you have in your companies that you give them multiple chances or is it like, okay, enough is enough? What a great question that is. Because even though I'm the leader, I'm the bull, you are dependent on people when you build a company my size of 60 ,000 people. And I truly, I truly probably have 25 vice presidents that average 25 years.

1:29Wow. Okay. And I tease my people about this all the time. Wow. I go, I never, ever in the last 35 years have probably lost direct answers to me, maybe one or two people. And so why are y 'all losing them every year? Right, right. And so when people ask me, what are you most proud of? And I think it's the people that truly deal with me on a day-to-day basis. Even my assistants. I have one for 27 years and I'm one for 26 years. And I think it is, if they'd tell you, they'd say, that's the hardest son of a bitch to work for in the world. But I would not work for anybody else. I think that's what they would all tell you.

2:07I mean, in a world where it seems like everyone wants to change jobs every year or two because they want something new and exciting. How do you cultivate that culture or environment where they're like still excited every year? Is it because you're acquiring new companies all the time? I think that's part of it is that they know that we're the bull and that, you know, even in tough times, if I call them into my boardroom, it's not, hey, we're getting bought out. It's who are we buying? Because we eat the weak in bad times. So I think it's leadership, you know, respect. It's it's it's knowing that that we're the bull out there in our industries.

2:47And for those who don't know what you mean by the bull, who haven't read the book, what does that mean to be the bull? Just you're the ones always that everybody else is worried about. We bought a couple of companies in the last week. And it's because we were opportunists and we're the ones who can always deliver. And we're the ones who have the funding, the due diligence to do it quickly. We outwork people. It's just a culture of we are the best. And not that there's not great companies out there. and we're just still in the whole world, a company. Right. And what we do, and doing mergers and acquisitions in the rest of business or gaming business or whatever, aquariums, amusement parks.

3:33But we outworked everybody to get the Houston Rockets. I mean, my team during Hurricane Harvey, when everybody was flooding, was still at the office trying to get that contract signed because we wanted it done by Monday of Labor Day. During the big flood in Houston. Yeah, 100%. But the Houston Rockets went on the market on July 17th, and we signed the deal up on September the 5th for the most money ever paid for a professional sports team. And so it's just saying we're going to get it done before anybody else can. I even had the Tad Brown, who I've known for years, who runs the business side of the team even today, call me at one point and said, Y 'all aren't in the room kicking tires like some of the other people.

4:16Are you losing interest? I said, no, Ted, I haven't lost interest at all. I said, everybody else is in there trying to justify how do you pay$2 billion, because they made it really clear that they wouldn't sell it for under$2 billion. Wow. They're all trying to figure out how you pay that for it. I was out there making sure I could raise the money. I knew that the team on a bad year is going to make$40 million, and on a good year is going to make$90 million. If you start trying to say, okay, if it makes$40 million or it makes$80 million, Do you pay 1.9 billion or 1.8 billion or 2.2 billion? It has nothing to do with it.

4:50And so while everybody else was doing due diligence that way, even people that have a lot more money than me, they're trying to get there. And they missed the box. They were looking at the wrong thing instead of realizing this is a 10-year play. And I can promise you one thing. I bought this team in 2016. 16? In 2026, it'll be worth$3 billion. Yes. Okay. It's already moved up in value. So it's just the feel and knowing what to do and not getting caught up in the due diligence that doesn't matter. And I think one of the reasons I've been successful is because nobody does due diligence on an acquisition more than my team does.

5:34But it's just don't get caught up in the things that don't matter.

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6:39Again, have an amazing day and I'll see you tomorrow with another episode of the Daily Motivation Show.