How can a family office secure strategic choke points to grow its holdings?
Short answer: Richard C. Wilson's survey example ties the investor's return to minerals found on each farm, letting one equipment purchase create repeated chances to earn mineral rights.
Richard C. Wilson speaks in a video in his series on starting a family office, explaining strategic choke points through business examples.
Richard C. Wilson on industry bottlenecks
Richard C. Wilson says to look for what drives costs, slows a business or frustrates competitors. He says acquiring a resource that removes that constraint can make a business easier to run or require competitors to go through it. (at 0:33)
Richard C. Wilson on audience access
Richard C. Wilson describes his family office books and Billionaires.com as choke points because he says they bring people to his work and events. He says the Billionaires.com resource can help him meet billionaires and bring investors and members to events. (at 1:59)
Richard C. Wilson on earlier motel deal access
Richard C. Wilson says his motel to apartment group considered buying or investing in motel brokers, or paying an added fee for a half day of advance notice on deals. That would give the group time to review a deal and decide whether it fits the portfolio. (at 2:55)
Richard C. Wilson on survey equipment
Richard C. Wilson recounts an investor who bought an airplane and surveying equipment, then offered farmers land surveys for the cost of gas and the pilot. In exchange, the investor sought 5% of the value of any minerals found, and Wilson says the equipment could be used across more than 100 pieces of land. (at 4:44)
"So, these are strategies that you make a one-time investment."
From Richard's exclusive Billionaires.com interviews
Lessons from Richard C. Wilson's one-on-one interviews, as published on each interview page.
- Anu Aga: Focus on one main cause. Her family found its giving more satisfying and impactful once it chose primary education for the underprivileged in India.
- Binod K. Chaudhary: Never chase a deal out of desperation. Stay cool and look at every part of the deal. Have your advisers and your finance team review it critically. Your counsel should review it too.
- Larry Connor: Learn from every mistake. Larry's team owns its failures and makes no excuses. They learn, change quickly, and keep getting better.
See the data
Frequently asked questions
How can a family office secure strategic choke points to grow its holdings?
Richard C. Wilson's survey example ties the investor's return to minerals found on each farm, letting one equipment purchase create repeated chances to earn mineral rights.
Which book was Richard C. Wilson recommended?
Richard C. Wilson says Evan recommended Mastering the Rockefeller Habits when Wilson asked for one book that could help scale his business.
How much upkeep can a choke point need?
Richard C. Wilson says a social media group needs ongoing content. He says other choke points can operate as their own business or be bought once and held.
Sources
Quotes are copied from the video captions and checked against the transcript. Timestamps link to the moment in the video. General information only, not legal, tax or investment advice.