00:00:10another edition of modeling the masters
00:00:12I believe that the best and fastest way
00:00:14to grow business is to model the
00:00:16strategies of people who already done
00:00:17what you’re trying to do so today we’re
00:00:19gonna look at how former brick mason
00:00:21refused to settle for less and he felt
00:00:23he deserved and went out to build were
00:00:25the most successful financial companies
00:00:27in the world this is the story of Visa
00:00:29founder D hock and the top three lessons
00:00:32that you can learn from his success
00:00:33d hock is the founder and former CEO of
00:00:36Visa in 1968 when credit cards were
00:00:39first starting to get popular Hauk
00:00:41convinced the Bank of America to release
00:00:43control over the BankAmericard credit
00:00:46card program he started a new company to
00:00:48control the credit cards it was called
00:00:50National Bank America and later changed
00:00:53to visa hock came from a modest
00:00:55household his father was a utility
00:00:58lineman and after marrying his high
00:00:59school sweetheart
00:01:00Hawks first jobs were working in the
00:01:02slaughterhouse and for brick mason he
00:01:05became interested in the banking world
00:01:06and walked away from three separate jobs
00:01:09at respected financial companies because
00:01:11he thought that they were too
00:01:12hierarchical and controlling which
00:01:14limited his creativity hock went looking
00:01:17for an opportunity to build a different
00:01:19type of organization one that valued the
00:01:21creativity and enthusiasm of its
00:01:23employees the result of this plan was
00:01:26visa today Visa has over eight billion
00:01:29dollars in revenues and processes over
00:01:3060 billion transactions per year by
00:01:34refusing to settle for less than he felt
00:01:36he deserved Hawk was able to build one
00:01:38of the most successful brands in the
00:01:40world and a company that he could be
00:01:41proud of to help you get what you
00:01:43deserve
00:01:44here are three action items that you can
00:01:46take away from V Hawk
00:01:49action item number one hire people
00:01:52different from you we all like to stay
00:01:54in our comfort zones and many
00:01:55entrepreneurs make the mistake of hiring
00:01:57people who are exactly like them if
00:01:59you’re great at sales you don’t want to
00:02:01hire all salespeople or your company
00:02:03won’t have any organizational structure
00:02:05if you’re great at programming you don’t
00:02:07want to hire all programmers or there
00:02:09won’t be anybody to promote your product
00:02:11successful entrepreneurs realize what
00:02:13they’re good at and what they need help
00:02:15with and surround themselves with the
00:02:16people who best complement their
00:02:18strengths and weaknesses here’s what Dee
00:02:20Hawk had to say about hiring and
00:02:22managing people never hire or promote in
00:02:25your own image it is foolish to
00:02:28replicate your strengths it is idiotic
00:02:30to replicate your weakness is essential
00:02:33to employ trust and reward those whose
00:02:36perspective ability and judgment are
00:02:38radically different from yours it is
00:02:41also rare for requires uncommon humility
00:02:44tolerance and wisdom hire and promote
00:02:47first on the basis of integrity second
00:02:50motivation third capacity fourth
00:02:53understanding fifth knowledge and last
00:02:56and least experience without integrity
00:03:00motivation is dangerous without
00:03:02motivation capacity is impotent without
00:03:05capacity understanding is limited
00:03:07without understanding knowledge is
00:03:10meaningless without knowledge experience
00:03:12is blind experience is easy to provide
00:03:15and quickly put to use by people with
00:03:18all the other qualities money motivates
00:03:21neither the best people nor the best in
00:03:23people it can move the body and
00:03:25influence the mind but it cannot touch
00:03:27the heart or move the spirit that is
00:03:30reserved for belief principle and
00:03:32morality as apollyon observed no amount
00:03:36of money will induce someone to lay down
00:03:37their life but they will gladly do so
00:03:39for a bit of yellow ribbon action atom
00:03:43number two be a leader as soon as you
00:03:46start building a team they’re going to
00:03:48start looking at you as their leader
00:03:49they’ll not only look at what decisions
00:03:51you make but also the process you go
00:03:53through to make those decisions they’re
00:03:56going to want to see someone who they
00:03:57can respect and learn from your
00:04:00leadership skills might be weak right
00:04:01now
00:04:02but you’ll need to start improving them
00:04:03as soon as possible if you want to build
00:04:05a successful organization here Rd hawks
00:04:08thoughts on leadership here is a very
00:04:11heart and soul of the matter if you look
00:04:13to lead invest at least 40% of your time
00:04:16managing yourself your ethics character
00:04:19principal purpose motivation and conduct
00:04:22invest at least 30% managing those with
00:04:25authority over you and 15% managing your
00:04:28peers use the remainder to induce those
00:04:31you work for to understand and practice
00:04:34a theory think back to the best boss you
00:04:37ever had and the worst boss you ever had
00:04:39make a list of all things done to you
00:04:42that you abort don’t do them to others
00:04:45ever make another list of things done
00:04:49for you that you loved do them for
00:04:51others always people are not things to
00:04:54be manipulated labeled boxed bought and
00:04:56sold above all else they are not human
00:05:00resource they are entire human beings
00:05:02containing the whole of the evolving
00:05:04universe limitless until we start
00:05:07limiting them we must examine the
00:05:09concept of leading and following with
00:05:11new eyes we must examine the concept of
00:05:14superior and subordinate with increasing
00:05:16skepticism we must examine the concept
00:05:19of management and labor with new beliefs
00:05:21and we must examine the nature of
00:05:23organizations that demand such
00:05:25distinctions with an entirely different
00:05:27consciousness action atom number 3
00:05:30empty your mind many entrepreneurs have
00:05:33a hard time focusing we’re simply doing
00:05:35too much and never get the chance to
00:05:37empty our minds of the day-to-day to
00:05:39focus on the big picture and where our
00:05:41businesses are going creative ideas
00:05:43can’t be forced and if you want more of
00:05:45them you’ll need to free up your mental
00:05:47energy so you can focus more than just
00:05:50being a businessman DeHoff considered
00:05:53himself a theorist enjoy playing with
00:05:55ideas more than spreadsheets with
00:05:57concepts more than numbers despite a
00:05:59successful career in the financial
00:06:01industry Hawk was also an active
00:06:03theorist spending his free time
00:06:04developing new forms of social and
00:06:07business organization who’s with D Hawk
00:06:09thinks about emptying your mind
00:06:11the problem is never how to get new
00:06:14innovative thoughts into your mind but
00:06:16how to get old ones out every mind is a
00:06:20room packed with archaic furniture you
00:06:22must get the old furniture on what you
00:06:24know think and believe out before
00:06:27anything new can get in make an empty
00:06:29space in any corner of your mind and
00:06:32creativity will instantly fill it so
00:06:35remember hire people who are different
00:06:37than you be a leader and empty your mind
00:06:40to finish this video I wanted to share
00:06:43one of my favorite true stories about
00:06:45d-hop is all of his best quotes after
00:06:48building the company he felt proud of
00:06:50hoc resigned from visa in 1984 and spent
00:06:53almost 10 years farming a 200 acre plot
00:06:56of land in California isolated from the
00:06:59business world he used the time to think
00:07:01about corporate life and how companies
00:07:03should be run according to hawk
00:07:06I left Weezer in 1984 because I had
00:07:08proved everything I had set out to prove
00:07:10about the effectiveness of these
00:07:12concepts of organization when visa
00:07:15became so extraordinarily successful I
00:07:17thought the world would beat a path to
00:07:19our door to explore the concepts but it
00:07:21largely ignored us
00:07:22it was so different people couldn’t
00:07:25quite understand it there was no stock
00:07:27so it didn’t fit normal business model I
00:07:30decided I wanted to return to nature and
00:07:32seclusion and try to develop these ideas
00:07:34further so I bought 200 acres of ravaged
00:07:37land in a tiny isolated community on the
00:07:40coast of California built the house with
00:07:42a library of four or five thousand bucks
00:07:44and spent ten years in manual labor or
00:07:46storing the land to health and beauty
00:07:49and studying incessantly trying to
00:07:51develop these ideas I wanted to see if
00:07:53they were applicable to other
00:07:54organizations and industries or merely
00:07:56unique to the banking and credit cards
00:08:54thank you for joining me for another
00:08:56edition of Montana masters if you
00:08:58enjoyed the video please give it a
00:09:00thumbs up
00:09:00I’d also love to hear your thoughts or
00:09:02feedback if you want to leave a comment
00:09:03below and stay tuned for the next
00:09:05episode
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