Richard C. Wilson on Family Office Strategy and Niche Assets
At a Family Office Club event, Richard C. Wilson presents business strategies to attendees and takes questions.
Richard C. Wilson focuses on how assets, business units and relationships can fit together to give a business an advantage. He draws on examples from his own work, audience comments and situations he has encountered or proposed.
In this video: Richard C. Wilson (presenter), Caleb (audience member)
What they said
- Niche assets create a different game board. Richard describes building a niche game by acquiring assets that move differently from the rest. Some bring cash flow or market information. Others create relationships or residual income after a deal closes. (at 4:32)
- Tony Robbins on operator and owner roles. Richard attributes this point to Tony Robbins. Robbins said he worked harder doing 10 million in revenue than doing 10 billion in revenue with 55 companies because he was in operator mode instead of owner mode. (at 3:10)
- Caleb on media that generates business. Caleb says his media company gets $20,000 a month from YouTube and generated just under 2.1 million dollars in other business. Richard calls it an example of a media platform that brings in more than 2 million dollars of business. (at 7:39)
- Richard on operating units and niche knowledge. Richard says owning operating units in a field can build knowledge of its operators and details. He uses pipeline maintenance as an example of information that could help assess an oil and gas company. (at 9:02)
- Richard on cross-selling between businesses. Richard describes an operating business, a real estate platform and an accounting firm sending clients and investors to one another. He says the businesses can support each other this way. (at 12:14)
In their words
"You do not want to play the same game as everybody else cuz then it's a crowded game board"
"Once you find something that works, you keep that part of the equation and then you try to optimize other parts of the business"
Why it matters if you are building or preserving great wealth
Richard uses Billionaires.com to collect mental models and create a reason for Michael Saylor and Mark Cuban to reply to outreach. That gives an asset a role in portfolio strategy through access, even when its contribution isn't a direct sale.
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
What is the OODA loop Richard mentions?
Richard spells it out as observe, orient, decide and act. He connects it with learning from family offices before deciding how to respond.
What does Richard say about meeting in person?
Richard says you are 16 times as likely to get a deal done if you meet in person.
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.