TIGER 21 Founder, Michael Sonnenfeldt, recently appeared on Fox Business to discuss entrepreneurship and what makes TIGER 21 Members successful.
Key takeaways include:
- TIGER 21 Members have discipline to delay gratification to weather a storm or pounce on an opportunity. Therefore, they have on average 12% in cash. Michael highlights TIGER 21 Member, George Heisel, and tells how George’s ability to save for a rainy day allowed him to be successful.
- Entrepreneurs are a different breed than investors. While investors are focused on shorter term gains and are detached from their investments, entrepreneurs are passionate about what they are working on, often focusing on it for 30 years. If an investor did that, they’d be out of business. This is why entrepreneurs are often bad investors.
- Entrepreneurs are wildly optimistic, have grit, and are willing to take risk. Luck, Michael says, tends to favor those who are ready and willing to take the risk.
- The most successful people have mentors.
- The deal of a lifetime comes across your desk every week, you just have to be looking for it.