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“I’m a lot more responsible with investors’ money than with my own money.”
My great friend, the entrepreneur and billionaire Michael Lee-Chin joined us for our first podcast episode to give as much value as possible, and dare I say, he over delivered.
He went in-depth, providing specific context into most of the business frameworks he’s known for, then ended with a new gem, that’s both easy to implement and immensely transformative.
So you’ll be hearing new approaches to strategies he’s shared before, plus nuggets that he has not shared before that young entrepreneurs can directly benefit from as well as Mike’s answers to questions from a variety of industries, from fellow entrepreneurs like yourself.
In this episode, we’ll talk about the laws of wealth creation and the characteristics of profitable businesses, how to gain access to and build rapport with successful people – even if you’re unknown, how to identify business opportunities worth your time and effort, and so much more!
Enjoy the episode!
About Michael Lee-Chin
Michael Lee-Chin, President and Chairman of Portland Holdings, is widely regarded as a visionary entrepreneur, whose philosophy of “doing well and doing good”, has resulted in extraordinary business success and inspiring philanthropic initiatives. Michael has always been very vocal about his deliberate approach to business and investing. It all started in 1978, when, as a young investment advisor seeking to deliver the highest value add to his clients by making them wealthy, he developed a framework that would guide his principles for life, business and investing. This framework later became known as the 5 Laws of Wealth Creation’ which drive his investment behaviour and are complemented by the 10 traits he seeks out in successful businesses.
Mike’s biggest motivation for becoming an entrepreneur
Putting rejection into perspective
The important question Mike asks himself to ensure he delivers maximum value
The big responsibility that comes with taking on an investor
The five laws of wealth creation
Ten characteristics of wealth-creating businesses
How living your life by frameworks helps you to reap the benefits of compounding
Signs that your business is on the right track
The three elements that must be in place to increase customer happiness and referrals
Understanding that life is not linear
The antidote to giving up and how to hold on through the inevitable dips in life
How to build relationships and rapport with successful people
Audience Q&A – What’s the best way to vet your team as you expand? Not only for their skills but for the attitude which matches the company culture which you’re trying to build?
Audience Q&A – How should you think about building out your board?
Why all of us should have a reputational plan
Audience Q&A – Why does Mike believe autocratic leadership is more effective in building a wealth-creating business?
Mike’s framework for identifying great investment opportunities
Why Mike started an asset management company
Founder Q&A – Narda Ventura, eZeePayments.com (https://ezeepayments.com/) & Member of RevUP Caribbean Cohort #1: How do you see the Caribbean and Latin American FinTech landscape evolving and what are some of the key pillars we should be focusing on as an early-stage market entrant?
The model Mike had in mind when he purchased an interest in the National Commercial Bank
What to think about when building a world-class business in the Caribbean
Founder Q&A – Ferone Bryan (https://minutecarrentals.com/), Minute Car Rentals & Member of RevUP Caribbean Cohort #1: How do you find balance as a young business owner between growing your business and dedicating time to your family?
Why discipline is a necessary element in the pursuit of balance
Founder Q&A – Cordell Williams, Transformational Life Solutions (https://transformationallifesolutions.com/) & President of YEA: How can entrepreneurs continue to create value and grow with clarity and confidence in an ever-changing environment? How can business support organizations like the YEA help entrepreneurs along their journey?
The three most important characteristics of the most successful CEOs
How you can apply Mike’s SEA framework to every aspect of your life
Founder Q&A – Arnaldo Brown, Honey Producer & Member of RevUP Caribbean Cohort #1: How has your experience in the Agricultural Sector been? Are you staying the course?
What it takes to have a successful business in the agricultural sector
Resources & Recommendations
Michael Lee-Chin’s YouTube Video | Life Is Not Linear https://www.youtube.com/watch?v=4YDOtZjkjM4
Michael Lee-Chin on Twitter https://twitter.com/Michael_LeeChin
Michael Lee-Chin on Instagram https://www.instagram.com/michaelleechin/
Ready to level up your entrepreneurial journey?
Apply to be a member of the next cohort of the RevUP Caribbean virtual incubator
Are you a Caribbean startup with high growth potential seeking equity to achieve your vision of success? Or are you a small business looking to scale and grow?
At RevUP Caribbean, we know that entrepreneurship is hard and we’re committed to supporting high growth potential startups and scaleups with our virtual incubation programme. Our 5-month programme gives you access to business experts, local and international mentors and a whole lot of perks! We’re looking for you to join our next Cohort. Click here to apply today and get on the road to success!
Apply to be a member of the Young Entrepreneurs Association of Jamaica
The entrepreneurial story is often very lonely. Sometimes you don’t know what steps to take and it can be difficult to access the support you need to succeed.
But you can change your story. When you join the Young Entrepreneurs Association you become part of a family of like-minded people who understand your journey and who will help you to access opportunities to grow and go to the next level. Join the YEA today by visiting our website at YEAJamaica.com.
Composer: Seretse Small, Founder, Avant Academy of Music
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