Listen to today's episode as Derik Fay shares his amazing life story. He started with a tough childhood and learned to be strong, make friends, and grab opportunities. Hear how he succeeded in different businesses by being flexible and making good relationships.
Learn about Derik's talent for making friends and growing small companies. Find out how he turned $70 into $5 million in real estate. Discover tips for negotiating with companies and avoiding common business mistakes. Understand why having a strong company culture and being responsible are important for business growth. Plus, stay tuned for part two of Derik's amazing journey!
About:
Derik Fay is an experienced entrepreneur who started a venture capital firm called "3F Management" in 2002. He's successfully built and sold over 30 companies and helps young entrepreneurs grow. His goal for partners is to achieve growth and profits and sell their businesses within 3-5 years. Derik and his partners also give back by donating millions to local charities, emphasizing the importance of resilience, innovation, and making a positive impact.
HIGHLIGHTS:
Derik Fay's journey from a challenging childhood to success
How Derik adapted and thrived in various business ventures
Derik's knack for connecting people and identifying opportunities
The incredible story of turning a $70 investment into $5 million in real estate
Profitable negotiation experiences with companies
Insights into common mistakes entrepreneurs should avoid
The importance of a consistent company culture and vision
The role of accountability in business growth
SOCIAL MEDIA:
Website URL: https://derikfay.com/ & https://beacons.ai/derikfay
Derik Fay IG 👉 https://www.instagram.com/derikfay/
Derik Fay Facebook 👉 https://www.facebook.com/profile.php?id=100085006716140
Derik Fay YouTube 👉 https://www.youtube.com/@derikfay
Derik Fay Twitter 👉 https://twitter.com/derik_fay
Derik Fay LinkedIn 👉 https://www.linkedin.com/in/derik-fay-8ba92181/
Derik Fay TikTok 👉 https://www.tiktok.com/@fayderik
TIME STAMPS:
00:00: Intro
00:49: Introduction to Derik Fay
01:28: What does Derik do as an adult entrepreneurial man?
02:57: Entrepreneurship, investing, and personal finance
06:05: Childhood abuse and resilience
08:11: The importance of finding inspiration and redirection in difficult moments
11:38: Eric's advice when you're in a bad situation
12:45: Overcoming abuse and finding strength
15:24: Dealing with past trauma and abuse
21:44: Abuse of power in religious organizations
28:27: Meeting needs with products or services
30:20: The value of being a connector
36:59: Leadership styles and approaches
43:54: Entrepreneurship and opportunity recognition
47:07: Business deals
49:45: Things that motivated Derik to save money to be ready to go
54:09: The importance of Networking and conversations in finding opportunities
55:31: Real estate deals and ethics
58:54: Recognizing opportunities and taking action
1:01:59: There's massive value in being first!
1:03:19: The shadow CEO
1:06:16: Leadership mistakes in business
1:08:12: How people are treating employees and the resulting impact
1:11:30: The importance of clarifying the company's culture and vision
1:13:53: Chick-fil-A closes on Sundays to stay true to their values
1:14:57: Going against one's culture and values can lead to instability
1:16:02: END
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