IN THIS EPISODE, YOU’LL LEARN:

• Why the best businesses never quit taking risks.
• Why being inflexible is a recipe for failure.
• Why perception is everything and we shouldn’t assume infallibility.
• What makes trust the foundation of any successful business.
• How business leaders can balance outside expertise with their own intuition.
• How we can utilize optimism to win in business.
• And so much more!

TRANSCRIPT

Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.

[00:00:03] Clay Finck: On today’s episode. I’m joined by my friend David Fagan to discuss Don Keogh’s book, The Ten Commandments of Business Failure. David is a managing partner at MBF Chartered Professional Accountants, a firm dedicated to supporting small and medium sized owner managed businesses across Canada.

[00:00:21] Clay Finck: David was one of our early members of our TIP Mastermind community, and I’m grateful to have him as a part of the group as he has a deep passion for entrepreneurship, business, self-improvement, and investing. Given his success in managing a small business, I thought he was the perfect person to join me on the show to discuss Don Keogh’s book.

[00:00:39] Clay Finck: During this episode, we discuss why the best businesses never quit taking new risks. David’s personal business experience and how it ties into the lessons that Don shares. Why trust is the foundation of every great company. How we can balance our own intuition with the outside consultancy of expert advice.

[00:00:58] Clay Finck: Why pessimism is paralyzing and why optimism is key to building a successful business and a strong financial foundation, and much more. Warren Buffett is well known for investing in Coca Cola in 1988, and he was actually good friends with Don Keogh and wrote the foreword to Don’s book. Under the leadership of Don Keogh and Roberto Goizueta from 1981 through 1997, Coca Cola’s stock compounded at 27 percent per annum, excluding dividends. I really enjoyed covering this book with David on the show, and I hope you enjoy it as well.

[00:01:33] Intro: Celebrating 10 years and more than 150 million downloads, you are listening to The Investor’s Podcast Network. Since 2014, we studied the financial markets and read the books that influence self-made billionaires the most. We keep you informed and prepared for the unexpected. Now for your host, Clay Finck.

[00:02:01] Clay Finck: All right. Welcome to The Investor’s Podcast. I’m your host, Clay Finck. And today, I’m joined by my friend, David Fagan. David, welcome to the podcast.

[00:02:10] David Fagan: Thanks, Clay. Glad to be here.

[00:02:12] Clay Finck: So David, it’s been such a pleasure getting to know you through our TIP Mastermind Community. I had mentioned to you that I was reading this book titled, The Ten Commandments of Business Failure.

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BOOKS AND RESOURCES

• Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
• Don Keough’s book: The Ten Commandments of Business Failure.
• Related Episode: Same as Ever w/ Morgan Housel | YouTube Video.
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