Ep.556 ~ BILLIONAIRE EPISODE | 72 Minutes of Wisdom from a Man That Built & Sold a $19 Billion Company ~ Drayton McLane

2023-03-22

Hello everybody and welcome to The Business Method Podcast. Today, we have a very special guest that we get the fortunate opportunity to chat with. He started out at the ripe age of 9 years old in rural Texas working at his family’s grocery business. During his teenage years he spent most Saturday’s and Summers sweeping the floors and learning the in’s and out’s of the business until after graduating college where he then worked the night shift loading trucks for a year and a half. He worked in the family business for nearly 5 decades running it as the CEO for 30 of those years and bui...

He worked in the family business for nearly 5 decades running it as the CEO for 30 of those years and built that company into a wholesale grocery business worth $19 Billion dollars. In 1990, he sold the McLane Company to Sam Walton the founder of Walmart and became the Vice Chairman of Walmart. In 1992, he decided he needed a new challenge and purchased the Houston Astros baseball team, eventually taking the team to the World Series and building them a new stadium. His name is Drayton McLane and he is here on the podcast today, Drayton, welcome to the show!

00:23 Who is Drayton McLane?

01:56 A Billionaire's Networking Hack

05:53 Drayton’s Logic Behind Inviting Competitors in his Facility

07:27 Drayton on Starting Work at 9 Years Old

09:30 The Chapters of Drayton’s Road to Billions

14:05 Drayton’s Take on Entrepreneurs that Skip College and Start a Business

16:55 Helping CEO to be Better as a Member of the Board

22:08 Fears and Anxiety of a Billionaire

26:32 What Drayton Would Do If He Lost It All?

29:00 How Has Drayton Changed Due to Wealth

33:25 Should I Really Keep My Friends From Childhood?

36:22 How to Select Leaders?