Page 146 - Midas Touch

When I started out, I had a tremendous partner—my father. That’s hard to
beat. We had a great relationship. I worked on his construction sites during
the summer. I have already mentioned his attention to detail, which I have
emulated, and I remember his picking up and recycling unused nails at our

sites.

He didn’t have any hobbies. His work was consuming and he never tired of
it, so diversions weren’t necessary. He was always making notes, and at
night and on weekends when he would talk on the phone, listening to him
was an education all its own. He knew how to negotiate, and I think part of
my strength as a negotiator comes from paying attention to him as he’d
speak on the phone—which was always about his business. He was

specific and didn’t like to waste time. He’d get to the point immediately.

He also taught me to be wary. Through him, I learned that business
requires toughness as well as insight. My father was such a hard worker
that he could sense immediately if someone else wasn’t. He was so solid
that he could readily spot weakness in another person.

I also learned to trust my gut instinct. This can be developed, but it can
also be an inherent talent. Sometimes I just don’t feel right about a person.
At other times, I know right away I like someone, which Midas Touch 143

was the case with both Mark Burnett and Robert. I’ve had enough
experience by now to know my instincts are well developed.

As an entrepreneur, you will have employees. I have a theory that every
person you hire is a gamble, no matter what their credentials are. I’ve
hired people from the best schools and they weren’t so great. And I’ve
hired people without credentials, and they were terrific. Sometimes it’s the

other way around. But it’s not always easy to assess someone’s abilities
until you see them in action and give them a few challenges. I’ve been
surprised, pleasantly and unpleasantly, over the years. But it’s important to
give people a chance to prove themselves.

With partners, it’s a bit different. You can’t count on much of a trial-and-
error phase to assess a person’s qualifications, so here’s where the gut
instinct comes in. It’s difficult to explain how it works, but it’s an

unspoken dynamic that you must pay attention to. Partnerships must have
loyalty and integrity at their core. Ask yourself if those two attributes