A Quote by Bill Gates
The inventory, the value of my company, walks out the door every evening.
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A founder plays a magical role at the company: they invented or, as in my case, co-invented it. If and when a founder walks out the door, there is something spiritual that walks out the door, too.
When I started at Bloomingdale's as a buyer, Alexander's was a discounter across the street, and every time Alexander's had something that we had at Bloomingdale's, we'd have to meet price. I didn't really want to be in a business where I had no control over my inventory, the value of my inventory.
Intentional living is the bridge to significance. At the end of every year, I take time out to reflect and evaluate the events of the previous year - what went well and what needed improvement. From that inventory, I lay out my next year - how I intend to live, make the best use of time and maximize adding value to others. Success asks, 'How can I add value to myself?' Significance asks, 'How can I add value to others?' It is your intention that lends itself to significance.
For every company that sees the value of their capital go up, there's another company that has been disrupted, and the value of their capital gets marked down because it's not going to compete in the same way.
I've always said that I'm an employee and I respect that status but I'm the type of guy who walks in the front door and I'll walk out the front door if it's not right.
My grandmother took me to church on Sunday all day long, every Sunday into the night. Then Monday evening was the missionary meeting. Tuesday evening was usher board meeting. Wednesday evening was prayer meeting. Thursday evening was visit the sick. Friday evening was choir practice. I mean, and at all those gatherings, we sang.
He who walks in the company of fools suffers much. Company with fools, as with an enemy, is always painful. Company with the wise is pleasure, like meeting with kinfolk.
The more inventory a company has, the less likely they will have what they need.
I like to think I'm a good mechanic for the company. 'Oh well, we sprung a leak? Call Ambrose; throw him in there.' I like that because I think it has really upped my value with the company, and I think that they realize nowadays, too, another Dean Ambrose isn't going to walk through the door anytime soon - or ever.
Our assets walk out of the door each evening. We have to make sure that they come back the next morning.
The biggest mistake entrepreneurs can make is trying to do everything themselves. They usually blow up when they try. I did an inventory of every deal I've ever done and it turned out that every single deal I made money on was a partnership, and every colossal failure, where I lost millions, was something I tried to do by myself.
If you break into an oil company and you're able to find out what gas leases they're interested in, that could be a multi-billion dollar swing in value for one company over another a multi-decade period.
Nirvana, to a value investor, is paying a cheap price for a company that is growing in value every year at a nice rate - this largely explains why today we own stocks like Berkshire Hathaway, McDonald's, Wal-Mart, Microsoft, Costco and Anheuser-Busch.
If we don't take inventory every once in a while and give thanks to God for the great things He has done for us, we get totally out of perspective.
Every evening, I would excuse myself from playing in the backyard and go inside to watch the evening news... I wanted to get out there and see the world, and as a kid, I knew that Peter Jennings had a thirst and hunger to travel the world, too.
I think the next massive wave of value creation will be when you can get a manufacturing company or agriculture devices company or a health care company to develop dozens of AI solutions to help their businesses.
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