#145 Tilman Fertitta on Cutting the B.S. and Explaining How To Succeed | Impact Theory

Multi-billionaire Tilman Fertitta, the world’s wealthiest restaurateur, built his empire from a single restaurant in Houston. Now he is the sole owner of Houston’s NBA franchise, the Rockets. On this episode of Impact Theory with Tom Bilyeu, Tilman Fertitta cuts out the BS and gives you the real story on how to become successful in business. He describes his core philosophy and favorite “Tilmanisms”, advocates knowing what you are good at, and explains exactly why you need to be the best at whatever it is you do, no matter how humble your starting position is.

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SHOW NOTES:

Tilman describes his mindset that you just have to keep punching [2:45]

“You’d be surprised what you can take, though.” [4:58]

Tilman explains that he doesn’t fear anything, but he worries about everything [5:52]

Tilman talks about how he constantly looks for mistakes and finds out what’s going on [7:03]

Tilman advocates that many people make the mistake of working for the wrong company [9:27]

Tilman tells his story of becoming an entrepreneur and learning to sell [10:58]

Tilman describes the details he looks for in a business deal [14:22]

Tilman advocates that you need to know what your God-given gifts are [15:06]

Tilman also says that there are certain things you need to learn that you aren’t good at [15:55]

Tilman explains how he teaches decision-making to his kids [17:55]

Tilman describes his core business philosophy [19:32]

Tilman explains how to find the five percent of things that are going wrong in a business [21:00]

Tilman advocates that you can always become the best at whatever you do [23:56]

Tilman strongly advocates using simple methods repeatedly to become successful [26:08]

Tilman talks about why he keeps going in business [28:46]

Tilman says that he does plan out each step in his business plan [29:26]

Tilman describes out-working people [31:43]

Tilman shares the impact he wants to have on the world [32:21]

QUOTES:

“When times are really bad, we forget they’re ever going to be good again. And when times are really good, we forget they’re ever going to be bad again.” [5:36]

“You gotta know what you know and what you don’t know.” [6:34]

“Whatever position you’re in, you want to be the bull...You can be the bull at any position you’re doing. And it’s just telling yourself, I’m going to do this better than anyone else. I don’t care what the job is. You be the bull at what you do.” [28:06]

FOLLOW TILMAN:

INSTAGRAM: https://bit.ly/2BzLcBk

FACEBOOK: https://bit.ly/2N0JRZL

TWITTER: https://bit.ly/2W0WfwY

BOOKS MENTIONED IN THIS EPISODE:

“Shut Up and Listen” https://amzn.to/2PbBDR1 [2:41]