#94 Henry Singleton (The Outsiders)

Listen to this episode from Founders on Spotify. What I learned from reading The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success by William Thorndike.----[0:30] The failure of business schools to study men like Henry Singleton is a crime— Warren Buffett[2:40]Buffett and Singleton: Separated at birth?[8:35]The Singular Henry Singleton[14:40] Supremely indifferent to criticism[19:50] Teledyne breaks up huge business into a bunch of small profit centers[29:30] Risk is controlled. Divisions will remain relatively small.[32:00} Building a cash generating machine [36:30] Bet heavily when you have an edge.[44:00] Singleton has found a way to run a multibillion dollar company in an entrepreneurial, innovative way.[50:16] Singleton had a different focus: Capital allocation.[50:37] Getting Rich vs Staying Rich [55:18] What the people profiled in this book have in common[59:00] Early career and the founding of Teledyne[1:00:38] How Henry Singleton thought about acquisitions1:02:00] Actions express priority[1:07:12] Ruthlessly cut fat[1:11:20] Stay within your cirlce of competence and bet heavy[1:16:30] Singleton on Time Management[1:19:19] If everyone is doing them, there must be something wrong with them. — Henry Singleton ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast