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 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?
42.53 Going From the Grocery Business to a Baseball Team Owner
45:44 How a Billionaire Starts His Day
48:51 Is Being an Entrepreneur Easier or Harder in Today’s World?
50:49 If Drayton Had to Start All Over Again, What Business Would He Get Into?
53:08 Starting in a New Business That Has Never Been Done Before
58:10 Raising Entrepreneurial Children
01:00:52 What’s Great About Being a Billionaire & What Sucks About Being a Billionaire?
01:02:29 Book Every Entrepreneur Should Read
01:05:06 Who Drayton Recommends We Follow
Contact Info:
Website:
https://draytonmclanejr.com/
https://www.mclanegroup.com/
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HP#151 ~ Drayton McLane’s Advice for Finding the Right Mentor
HP#150 ~ What is the One Book This Billionaire Suggests & Why He Drives a 12 Year Old Car
HP#149 ~ How a BILLIONAIRE Raises His Kids
HP#148 ~ This Guy Bought a Baseball Team After Attending Only 3 Games in His Life
HP#147 ~ Best Business Book Recommendation from a Billion Dollar Founder ~ Taylor Justice
HP#146 ~ Advice for People That Want to Build a Billion Dollar Company from a Billion Dollar Founder ~ Taylor Justice
HP#145 ~ There Are No Rules from Billion Dollar Founder Taylor Justice
HP#144 ~ Do This One Simple Thing & Change Your Life Forever
HP#143 ~ 3 Principles of a BILLION DOLLAR Investor
HP#142 ~ How to Focus on Things That Generate Massive Wealth w/ the Billion Dollar Investor Richard Koch
Ep.555 ~ From the Military to a Billion Dollar Entrepreneur Changing the World ~ Taylor Justice
HP#141 ~ How to Identify a Billion Dollar Investment - Richard Koch
HP#140 ~ Billionaire Jeff Hoffman on His Morning Routine
Ep.554 ~ Hacking the Algorithm of Business & Finding BILLION Dollar Investments ~ Richard Koch, author of ’The 80/20 Principle’
HP#139 ~ The Defining Moment of a $5 BILLION Self-Driving Semi-Truck Company
HP#138 ~ How 20 Year Olds Are Building BILLION DOLLAR Companies in Today’s World
HP#137 ~ How the Founder of a $5 Billion Company (that is 26 years old) Optimizes His Time
Ep.553 ~ Two Guys in Their 20’s Built a $5 BILLION Self-Driving Trucking Company ~ Alex Rodrigues
HP#136 ~ The Hardest Phase of Building a $2 BILLION Business ~ Spencer Jan
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