Joe Mansueto: "If It's Easy, It Would Already Be Done" | E80
Joe Mansueto: "If It's Easy, It Would Already Be Done" | E80  
Podcast: In Search Of Excellence
Published On: Tue Sep 26 2023
Description: Welcome to the second part of our interview with the amazing Joe Mansueto. Joe is the founder and former CEO of Morningstar, a financial services and investment research firm that is one of the most recognized companies in finance. It provides investment research and investment management services to many millions of people around the world. If you haven't yet listened to part one, be sure to check that one out first 00:55 The importance of parental supportJoe’s dad was buying saving bonds for his children for yearsHe gave the accumulated money to Joe to start his businessJoe made sure every dollar was spent wisely 05:07 Can parents give proper advice to children in today’s business environment?You should listen to your own instinctsBut also take into account your parents’ advice 09:06 The importance of cold callingYou learn about perseverance, handling rejection, processing, and not taking it personallyCold calling is a very valuable skill to have 13:40 Bootstrapping and raising moneyEntrepreneurs should not raise a lot of money if they can avoid itSubscription model for MorningstarThe pressures of raising outside money 20:11 Becoming rich should not be your primary goalJoe is more about independence, creativity, and autonomyOne of the byproducts is building wealthHis goal was to build a viable, enduring, independent company, that would survive for a very long timeYou should want to make money, but not at all costs 23:42 Joe’s soccer investmentsWanted to diversify his investmentsLoves soccer and it became his passionBought MLS team in Chicago 28:37 The importance of Extreme PreparationPreparation is essentialImportance of understanding the client and his needsIf you can move the needle for a company, any company will hire youShow the company how you can add value to it 33:26 Reaching out to successful peopleTrust your gut and do something that no one else doesPeople are much more accessible than you thinkSuccessful people want to help and give back 36:56 The responsibility of giving backGiving back is importantFinding meaningful ways of giving back 39:20 The pressure of giving money and being generousWe shouldn’t judge others on their philanthropyJoe signed a giving pledge to set a good exampleMost wealthy people are trying to make the world a better place 42:56 Fill in the blanks to excellenceJoe's biggest lesson in lifeJoe's number one proWant to Connect? Reach out to us online!Instagram | 1-on-1 Coaching | YouTube | TikTok | LinkedIn