In episode 145, Erik and Kerel talk with Armond Davis, Founder & Managing Partner at The Paragon Group, an investment group that focuses on minority and women-owned businesses. Growing up in St. Louis to a family of educators, Armond has always had a thirst for learning and knew he wanted to be a businessman at 7 years old after a “take your kid to work day” at his mother’s tall office building. He earned an MBA in Finance and another MBA in commercial real estate investment and eventually blended his love for investments and operating businesses in 2006. After people telling him his education was inferior, almost going bankrupt, and making a lot of mistakes, he realized his journey from investments to business owner and back to investments was all meant to be.
Armond shares the mindset he has and that he looks for in founders who he wants to invest in, his thesis that minorities and women will outperform anyone else at anytime, the importance an abundance mindset plays in investing and business, how he takes his losses or other people’s criticisms and uses them as fuel, and the value and priority he puts on community and mentorship.
“When you understand why you're doing something, then it's much more difficult to get knocked off your path. And once you've identified what your purpose is, what your reason for being here is, then you can commit to that. And when you move within that purpose, the universe rewards you.”
Timestamps:
:43: Armond Davis, Founder & Managing Partner at The Paragon Group, shares how The Paragon came to be and his first M&A deal, which was a big learning lesson
2:44: Armond talks about his family background of educators and how he knew he wanted to be a businessman at 7 years old
4:22: Armond shares his investment thesis, the importance of an abundance mindset, and how to use money as a tool
7:52: How to create and cultivate a mindset of abundance
10:05: Armond shares why he is so passionate about his purpose, his thoughts on the recent social movements and how minorities and women can get one step ahead to get sustained dollars
16:21: Why Armond puts so much importance on mentorship and community
19:50: Armond gives credit to his alma mater, Florida A&M University for instilling confidence in him and shares a story of a challenging conversation he had with an employer
24:23: The superpower of empathy
25:51: Where Armond draws his inspiration from, what TV shows he watches, and why it’s a skill to draw inspiration from anywhere
29:28: What Armond is looking forward to next with The Paragon Group
30:47: The three apps Armond uses on his phone to stay connected, informed, and engaged
32:42: How to reach Armond Davis
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