PEAK, 2nd Edition

Chapter ElevenCreating Confidence

The secret to great investing isn't becoming the ultimate whiz kid at financial models or necessarily being the shrewdest negotiator in the room, it has a lot more to do with building long-term relationships with entrepreneurs and business leaders who deserve your confidence.

Bill Price, cofounder, Texas Pacific Group¹

One of the smartest decisions I ever made in my professional life was to join the Young Presidents Organization (YPO). YPO is a celebrated international organization of youthful senior leaders of small and large companies who meet in local chapters to learn from each other. Sounds good, right? Still, I initially had some reluctance as I thought, “Who has the time to meet once a month for a whole day with a bunch of similarly stressed-out business leaders?” My expectations have been more than surpassed, as I've learned so much from the experience of sharing my company's strategy and my personal path with other entrepreneurs, executives, and investors who are full of wisdom, encouragement, and more often than not, a badly needed sense of humor. I came to one particular meeting with my mind racing a million miles a minute. My body, on the other hand, was ready for a serious pit stop, as I hadn't had much sleep in days. I was in the middle of negotiations on a variety of new hotel deals, most of which were with first-time partners ...