A Country Boy’s Journey From Broke to Millions in Generational Wealth with Business Titan James Harold Webb

Speaker 2

00:00

 To the listeners out there, you are absolutely going to love them. So it's with James Harold web, and we he's got a crazy roller coaster of a story with many, many stories sprinkled throughout lots and lots of ups and downs. He started out in the medical field and then went into many different business. Ventures International businesses. Just crazy. Crazy story, as stories and just Wilders, I really enjoyed connecting with James. He even recently got into starting gyms and franchises and Fitness World with Orange Theory, Fitness and some other companies. And, you know, he's done extremely well for himself and for his family and his legacy talked a lot about that. But he's also gone through some real A chip in life who during divorce and then passing of his second wife along, with some medical challenges, personal serious, medical challenges. And so he also has some Wild International stories with guns being pulled on them and things like this. So you are not going to miss this one, not going to want to miss this one for sure. Hopefully, you're not going to miss it and I mean just super smart guy with not Lot of kind of business schooling, but absolute wild success in business, and a lot of hardship, through business as well. We also talked about financial struggles, how has life changed many different times in overnight from hardship? That was unpredictable. So I really love this episode. It's great, and you drop some really good knowledge and book recommendations at the end. You're not going to want to miss this one.

Speaker 1

02:02

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Speaker 2

04:00

 Welcome everybody, to another episode of the form adversity, to abundance podcast. I am your host Jamie Bateman. And today, I am thrilled to have on with us a special guest. James Webb James, how are you doing today? Great brother. How are you? I am doing well, we were chatting just before this and man, it's you got a wild story that we're going to only be able to unpack only so much, but I am really thrilled to find out to get to know you better of this next hour. And I am hoping we can bring some value. I know we will bring some value to our listeners. And so for our listeners out there, who are you and what are you, what are you up to today? Well, my name is James Webb. I am a somewhat serial entrepreneur, I guess is how I describe myself. And currently, living half the year in Frisco Texas, half the year in Mexico. Just did three startup companies over the last year, but having fun with those, you and just really blessed and lucky, and living the dream. Yeah, it's you rattled off a bunch of the, and we're going to get to it. But the businesses you have started and sold and this is its perfect for our audience, which is primarily entrepreneurs and Real Estate Investors. So, I know you can speak to that audience very well. Now, let us Dive Right In. You, you mentioned several different things that we could focus on, but let us Dive Right into your back story and kind of drill down on some of the adversity that you faced and if you would just kind of walk us through, walk us through most of your history if you would. Yeah I am kind of start from the beginning. It's kind of cute and bond board young man, born to 17 year old high school. Students, got a little too friendly to early someone homeless, we lived in a shack behind the little electrical shop. That my dad was an apprentice at And grew up in the Deep South Mississippi when I was 17 years old, went to the local. Junior College, the in saw a sign one day. They said, you want to be an X-Ray tech call this number. And so, I did and two years later after two years of slave, labor at the hospital, I became an x-ray technician. Got married very young at 19. He and continued my working at night in the emergency room while I got my bachelor's degree in the daytime. And then, as I shared with you early on a flip of a coin, decided, Atlanta or Dallas, and off, we win at 22 years of age, Dallas, Texas and slept in the mall parking lot, so I can figure out what the heck I just done. Now. What's why? Those two? How did you decide on those two cities? It was not hard. It was the two big cities on both side of Laurel Mississippi garlic. I thought the business opportunities are the career opportunities would be from me. Okay, makes a lot of sense. So the quick flip Added Dallas for you. And so you went to Dallas and then and what happened after that? Moved to Dallas pickup truck and a bass boat headed to Dallas and then to me about six months to settle in, I have jobs in X-ray tech for a while, but then I got a surprise offer to be director of radiology, at one of the hospitals, in Dallas. At that point, 23 years of age, the youngest in the US. And this is way before the internet. So I went to school four nights a week. Well, I worked eight to five. In the daytime and got my Master's Degree, thought I was going to be a hospital, administrator had a potential offer and then this thing called MRI came out. It was approached by a gentleman about joining them to start the one of the first MRI companies in the US. And I said, Now at first, but after an interview in Connecticut, in 130 miles an hour, a night Datsun, 240Z I finally said, yes, nice dust started my non clinical medical career. Okay, so now growing up, did you have? I guess you had interest in, in the medical field in general. Not really know. To tell you the truth where you Come from, you're supposed to be married. By the time you're 19, I had a little girlfriend and I knew that was just a career path that I would seen somebody go through. I actually went to college on a music scholarship okay. It was not in my genes to be a medical person per se. Okay. The funny Side Story is the day I had my interview for the X-ray tech job. She dumped me. So I just continued for our do your program. Okay, so now okay, so you mentioned you were you initially turned down the job offer and then you took it and then what happened from there. Yeah, this is the very early stages where we're putting these 24,000 lb MRI machines or magnets as we called them inside trailers, and rotating between hospitals. And so, when I joined the company, we had three routes at that time, two and a half years later, we had 53 routes Around the country. Where the second biggest I was close to 30 years old by the end sitting in a big office space in Downtown Dallas. I was vice president, had about 300 employees and I thought I was hot. You know what? And then got one of the big surprises of my life when the phone rang and it said Mr. Webb the chair you're sitting in needs to be vacant. We just saw the company and since you have no equity, you're fired. Wow. And that wasn't even a face-to-face. Conversation straight over the phone. Wow. Okay. So you're 30 years old and I have a prize. Yeah so there was no inkling of the company not doing well sounds like it was on a growth path and then so if anything you're thinking your riding the wave and everything's great right? Well yeah making more money I have made my life with a salary and you know, topic one quick lesson that I realized I was just paid slave labor or I call it a Hired Gun. And the Q part of the story is I love my office and cleaned it out. Went home played golf the next day and since I was kind of known in the industry of the young industry, I had a job by Monday in Atlanta Georgia. So I moved from Dallas Texas to Atlanta Georgia. Okay, that lesser upper droll than I had, but a bigger company. So you did get to do both cities both sides of the coin if you will, I got home. Okay. So then When and how long were you in Atlanta for? Yeah, Atlanta was a tough year. I didn't really like the company didn't really like my the owner of the company to be honest, my marriage was in shambles, so we all have personal stories, mmm, and so after 18 months, I got offered a job as president of company in South Florida and my wife and I file for divorce, and I took off to Boca Raton, Florida, and she went back to Mississippi with her family. He and I did the best. I could get a daughter to see my daughter at least twice a month and begin a job then in Boca Raton. Florida. Gotcha. Okay. So that's quite a I mean, just to divorce is obviously a lot of adversity right there. That unfortunately, a lot of people can relate to. And so then what happened, once you moved to Boca Raton? Yeah. Boga was great work for a guy named Sherman unfortunately, just passed away two weeks ago and I did his funeral down in Boca, went down there, just to be a part of it. Great mentor. They had a positioned on company and at that time, this thing called the start legislation had come out, which said, doctors could not have ownership in places they sent patients to. So my job was to revamp the entire company, and so we ultimately rolled into a public shell and bought out all the doctor partners. I had to have the converter from sort of positioned on vehicle. And now we had to survive in the regular Market against hospitals and other Imaging Center companies without partner Physicians, and we did quite well, and I also met Marsha bottles in Florida. And we dated for about three years, and we're all going to marry about 1995. I think it was Okay, we're going now. So it sounds like you were starting to get involved on the into the kind of the business side of things whether you'd planned on that or not. And I know you went on to start a lot of different companies that were very successful at that point, What's going through your mind with regard to, you know, business versus career with what's happening to you personally, with regard to kind of where you think you're headed with your career at that point, there's no Question, I wanted to be an entrepreneur, you know, when your president of a company that's decent sized, you're making a nice living getting good, bonuses, living in South Florida. Sometimes you let things get by you and I had a doctor approached me one day and said, hey, do you want to put an MRI machine system in Trinidad and Tobago and I thought? Well, the company won't do that, but I will. And, so I went to my chairman of the board and I said, I need two things from you. Need you to fire me. So I can exercise my severance package and I need you to be my first investor, and he said, okay, he fired me and wrote a check to be my first investor. Well, I imagine you must have had a good relationship with him already established then. Yeah, so okay. So then and then what happened. Yeah, backed up, headed down to Trinidad, met with the minister of Health, tried to figure out the market work. With this doctor, about a couple of really cool. Key employees one, Of all places Master’s Degree in magnetic. Resonance physics from Canada and you have to live in Trinidad and I made him eyeballs and then the runner-up to Miss. Trinidad and Tobago became my marketing rep. Yeah, he had a twenty-four thousand pound machine and a double-wide trailer ship from Miami Florida on a boat. And a, barge all the way to trinidad-tobago set up operations. And I said, okay this is good. We also did a heart catheterization lab there and then further leaves led to Nicaragua we put up a side, San José da, I am sorry in Honduras was the second one or the third one, the Bahamas, one back in Miami. So just kind of bouncing around opening. These centers hiring staff really early days of remote working, but I was remote work. Hmm. Okay. Pre covid. So now we're at the what's that? What's your thought though? When you're starting this is just one step at a time kind of thing. What's your mindset? Are you thinking? I am going to blow this up and make it huge or this is just I don't want to have a salary anymore. I want to try something else. What's going through your mind? I think it's really kind of combination of things. I didn't really think big picture yet. I learned that a little bit later in my career. Okay? I was really focused on a few projects, trying to make income also want to make sure I paid my Masters back and had a return for them. And I think it was really the crazy story was Nicaragua, I went to Managua Nicaragua 53 times over a three-year period. Wow. One building the side into trying to save it because I learned a lot about health care in some of these smaller countries. It's not like here we got Medicare, you have got Blue Cross Blue Shield. They are most of the money was paid by the patients directly. Doctors were not just doctors. They were also kind of their Bankers, so we're thinking let a patient go spend $500 on an MRI Scanner with a lot of patience, Ben $500, all them. So a lot of that had to learn about. So they didn't have the what you caught this start legislation, they did not have the start and I literally had a meeting with about 50, doctors, in a room, presented the deal to. And at the end of the day, I had one investor. Wow. They just didn't get the concept which is also good because they, you know, I worried that if they got it they might have been abused, patients referrals and so it was okay. So we have been independent and my three quick stories about Nicaragua, which is always fun. Is on the 53rd trip. I decide to are the 52 tripped. I decide to climb the volcano for fun and goes a little Bridge. Built out over The Lava and I climbed out over it and looked up and A sudden it was a sandinistas soldier with a gun pointed right at me and I thought okay he's going to shoot me. I am going to fall in the lava, and they will never find me. I will be at the d.b. Cooper of Medical Imaging, and then he put his gun down and laughed and I always save my resolve was shaken, but not gone. And my next trip, I went back and asked my lawyer, who's the largest employer in the country? He said all senior that would be the sandinistas and I said, the sandinistas. That's the Oliver North stuff. That doesn't really apply anymore. It goes no. They control the Army and the police. And, so I had asked for a meeting with the head of the medical division of the sandanista army, straight out of a Rambo movie, 45 tracks into the jungle, beat on a rusty, iron gate to get in. Next thing, I know I am surrounded by guns pushed up against the wall, got in my rib, got in my head and, and all I can scream as Chamorro which is the name of the general. I was trying to meet with seem like a lifetime. It was probably a minute. And now with him, nothing came out of that. And then on the last visit, there was a ride in the city between the police and the taxi cab drivers and My Bodyguard. And yes sometimes out of bodyguard and a sawed-off shotgun showed me the back of a pickup truck, and we went right through the flames and the violence of the airport. And when I am in Miami, I had a little, you know, one and a half year old baby at home and I just called my investors and said, I can't do this anymore, I am going to sell the company. So at that point from, I mean those are just wild stories as that were, unfortunately, just have to gloss over but that, that's crazy. So, at this point, how much skin in the game? Do you have in the company? Yeah, I have got everything I had been in the company, okay. I literally gone all the way up, a little paycheck from the company, and that was it, no money in the bank, really? Gotcha. And then, so you have decided that. I mean, your, your life is in danger at this point and so it's just not worth it. And so you pull a 180 as far as the company goes? Well, no, I actually had a buyer lined up. I do. Okay, you know, someone do some International work. Now you're talking about, you know, 15 to 20 years after MRI came out. So there were big companies out there too. You know, I sold Shut down the Nicaraguan side, just shut it down. It's all the other sites of this company, you know, probably pocketed three or four and a thousand dollars for myself, and they colder you this point, I would be had been 32 probably 35 or 36. Okay, that's about, right? Yeah. Which you know that was still decent money but give it a chance again to regroup and rethink about what I wanted to do. Okay and so what did you kind of what did you determine you want to do then? You know I wanted to start another company, and so I invested with to my friends back in Texas in a single Imaging Center deal, and She was supposed to be mailbox money. Hey I will send you a check. You guys send me distributions and only just kept going that way and not coming this way. So yeah, 2001 March of 2001. I packed up a three-week-old baby, a three-year-old, son and supportive but somewhat disappointed wife and moved to Plano Texas and kissed her on the cheek and said I got to go back to work. I will see you in four to five years and work. I did. Wow, so okay, so you just buckle down and in that company that wasn't doing well at that point. Is that what you're saying? We had one Medical Imaging clinic, so I became the manager of it, got it, but it became the marketing rep forward and my third, but he kind of handled the billing and collections. Yeah. Okay. Yeah. I can, you know, and I know a lot of entrepreneurs can relate as far as, you know, starting a company even if it's a small company, you know, one Imaging Center, but, and then people is one thing I like to talk about on this show is the fact that entrepreneurship is not. It's not a straight line to success, you know? And, and especially starting a company can often be extremely challenging as, you know. So, so at that point, you instead of throw more money at this thing, you decided to buckle down, roll up your sleeves and, and work really hard. Is that what I am hearing it is? I mean, Didn't take a salary. So I just had that money in the bank, to live on profit that point was 150,000 bucks. I have been shoving money toward Dallas for probably a year. I did some Consulting and back in Florida before we left. And you know, we had also saw obstacles again. Crazy stories. We human genes in our first one was next to a hospital connected to it. Literally I had bought the Imaging Center from them. That was our first project we upgraded the Machine 2. Modern more modern technology. And then one day in single day, the hospital was shut down by the FBI. They accuse Hospital, ministration of a Medicare fraud, and we were given 10 days to vacate our property because our CEO was tied to their seat. Oh, okay. So you weren't technically a part of their organization, but they were, there was some, you were getting a lot of business from the hospital and there was some ownership crossover or something like that. And no ownership Nation. Okay, at least the building from them, but we all know that they can better hospital and medical office building. And when Austin was just, you know, our primary customer base was the doctors in the medical office building well, over a period of the next couple of months. They all vacated. So we were left with imaging center next to a dead hospital. We had to crowd out budget. Okay. So walk us through kind of from that point. I know you have done a ton of things. Walk us through some of the ups and downs from that point through today, you would. Yeah, it was a tough ride in those days. And we'd already opened our second and about to open our third site. When that happened, another crazy story that happens to you, is not some newer. Our primary linter had a way going to call DVI. They were a public company that took dummies like me who didn't have any money, but a lot of knowledge, they would back us. But when I say back as Owners Factor our receivables. Alana any other pretty good interest rate okay? Then let us build us up and then sell us or somebody that's kind of their model. Okay. Any medical factoring right? This is what that is. Okay. Edible factoring in loaning money. At the same time they did about a billion for a year in just specific Radiology transactions around the country. He is they build you up, and then they saw you too they helped me helped us build up and then you know they got merged with somebody else. Help us exit. So and I knew all those guys over the years, so good guys to work with but it was, you know, they owned you. You had realistic about the fact that they Factor the receivables and I pledged everything I had my house, my car's what little bit of money. I had left over to him and again in one day they went bankrupt because the FBI went into them and found out. They were double selling paper, so they would do a deal with me. Mmm, what do another bank or another Investment Group? And then And so for somebody else. Wow. That's why do you got? Yeah she did. That's I am in the mortgage note space as I mentioned to you before and you know, unfortunately probably on a lesser scale, but we have people in this space to do the same thing you know, and it's called usually called Joker Brokers where they will take, you know, either they may not have known the note yet but sell the same note to multiple buyers. So you have got to really do your due diligence on whom you're buying from, first of all and then secondly, on the asset itself to make sure. Buying what you think you are. So okay, so recovered from that and came up with a business model, that was unique, and different and started working with that sort of really save the day and over the next 15 years or so, we built 28 medical imaging centers across the state of Texas. We got into pain management and build code 1111 surgery centers with pain management doctors and unlike the start legislating. Actually, it didn't affect Surgery Center. So you could have position owners and surgery centers about the three pain doctors, and we're the place you hurt your back. Rather, stick a needle in. It in his office you come to the surgery center, and we put you to sleep little more comfortable. And he still can't even act your neck and built that business up guiding the toxicology business a little bit. Don't to toxicology labs. Just having fun growing company. So what's your at this point? What's your main driver? You said having fun growing the company as it is it obviously you want to make money. Is it Financial? Is it what's kind of your what's drawing you to the next level at this point? Yeah, I mean there's multiple things for me. There's a cute story about a recording of me in high school and I find her myself. I wouldn't believe it, but they're asking questions. That my church about. What are you going to do? After you graduate high school? And there's this little tiny voices, says, I am going to change the destiny of a family that really became my Mantra with the company. What I do now is trying to really change the destiny. My family. It was also about my employees that are at our height. We probably had 1,000 employees. One of my greatest claims of famine things I love is that 13 of my employees were made millionaires because of this. Wow, that's so key times. I don't have ownership in the company as we grew it, and so I was motivated by that and even one's lying if they say they're not motivated by money to, of course money. Absolutely. But I mean but you can be motivated by money and actually do good at the same time. Is that people that believe it or not entrepreneurship and businesses can be a force for good? Is that fair to say that is absolutely the truth? We always supported Charities. Always did Charity things with the team. Big into that. Love the team we had. It was really kind of probably, the, my most favorite time in business was during those years, okay? And then, I know we don't have, you know, unlimited time here but mentioned some of the highlights as far as the exits that you mentioned to me. Before we hit record. Sure. We exited the labs first around 2015. We actually did the surgery centers over time because we sold those one at a time to various Hospital groups for the most part. But our big exit and again, we had, we made a lot of money. I mean, I share these numbers, not bragging, but just factual but, you know, before we sold, if my distributions were probably anywhere from seven to eight hundred thousand dollars a month, From my companies. And so when we sold, it was a nice deal, and we sold to strategic partner in 2017. That was just getting started. But they had a lot of money and wrote us the 94 million dollar check. Wow. So they're publicly traded there. Now, the second largest in the world. I say they don't just 7 to 800 700,000 to 800,000 dollars per month to you. Personally, just, I just And that was that went on for a few years. He said, yeah, I mean it increased over time but the money started flowing in 2004 and I would say ten, eleven twelve, thirteen fourteen were really, really, really nice used for us. I mean, and I don't mean to pry to get personal, you know, to personal adjust. That's those numbers are astronomical. And I know it's all relative, right? It's nothing compared to Elon Musk, right? Or, you know things but and then the exit as well, which you just kind of glossed over 94 million but that's awesome. So and then that and then you got into I think you mentioned you got into Orange Theory and some other the fitness world as well and I probably should throw with the personal story if you don't mind. Yeah, absolutely exit. So, in 2011, November, exactly November 28th. I think my wife Marcia and I were flying back. I am Chicago, and she said, hey I have got a stomachache, and we stopped at the local Urgent, Care Center and see what's going on. And we did and 24 hours later. We had a confirmed diagnosis of stage 4 pancreatic cancer, no signs, no symptoms. It came out of nowhere and I turn the company over to my team and said, I will see you guys a little bit because I had seen the images. Partially I knew, I was what I do for a living and Trident ever seen someone that, you know. Wow that's sick. And we went all over the world looking for answers or, but we ended up at MD, Anderson in Houston and on May 20th of 2012, she was dismissed from the practice, and we're driving back from Houston. I get a big knife like pain in my back and I think I have got a kidney stone and it takes her home, put her to bed go, the emergency room and I don't have a kidney stone. I have got a tumor. Also, I have got renal cell carcinoma. I made the decision to not do chemo. Radiation just said, cut me open, take it out anything else. I still think I love most about the story, and they took my right kidney tumor, a little bit of other stuff. Sewed, me up and I walked out of the hospital in a 19 hours in against their orders and went home to be with her, and she made it six more days. And, so I was now raising an 11-year-old child and 14 year old children. My entire Focus changed and I went back to work soon thereafter and it became an issue of setting up the company to either Work without me ever again, being their exit. And so that's really what drove is toward the exits. I see was the health situations of well the change in focus and what really became important to me sure will speak to that briefly if you would because, you know, you were making tons of money, right? But what did the money me and to you versus, you know, the personal situation? Yeah. Lila Got to get making money. I knew a couple of things is happening. One, I knew we needed to exit the company. I just new it was time. I can see the industry changing. I can see how I was changing about things. And really it took us three years to get the exit put together, and we had to restructure the company a little bit to make it more attractive to potential buyers and so it was a combination of things but I will tell you that kind of life-changing experiences changes your Focus doesn't mean I don't make money doesn't mean I am not tripping or yeah. But was ready to bank a bunch of more money. So that I never have, my kids never had to worry again. I think his don't have to worry again and that was my primary motivation was. Okay, let us Bank some money now, for sure. Yeah. And I think it's just, it's very important to just this is really kind of the hits to the Crux of this of my show. Frankly is I love making money. I mean, it's, I don't have any issues with that at all. I think it's great, but it doesn't solve all of your problems either, right? I mean, you still had Real World family and medical problems that we don't want to just gloss over, but it's there, you know, they were very real. And, you know, no matter how much money you have in the bank, it's you still got to. Everyone has these problems and struggles and That's extremely dramatic. And there's not. I mean, there's and just there's nothing I can say to, you know, to express enough, guess condolence for you at that time. I can't imagine what you went through at that time, honestly, but I will say life is going to happen and all these things happen. I will tell you having money makes it easier, okay? Yeah, it allows for us to have better transportation to use in it allowed for us to stay in nice. Nice hotels. We were there. Sure. Allowed me to take care of my children and have a nanny and those kind of things. So you know, people that are rich, you can have some problems to, right money, doesn't help make it a little easier, learning. No, I think that's, that's completely agreed with that. And, and, and I think on the, one side of, I think people use that money, can't buy happiness as an excuse to not work hard and excuse to not pursue Financial Freedom and it Obviously gives you option, right? It gives you control over a lot more than you would have had control of, and it gives you can alleviate some other stresses that you can focus on what's really important. So, yeah, that's, that's really good. So and then kind of walk us through up until today if you would from the entrepreneurial standpoint. Yeah, so that really gets into what we start with the Orange Theory, Fitness discussion. So I went on match.com of an Actually raising two boys couldn't do the bar saying it has a nice car and a wild and lives. Three blocks from Jerry Jones. Can be susceptible to drama for my boys and maybe that's male chauvinistic Pig and me, but I didn't want it. And so, had my what I say was my first date in 20 years and the last first day for the rest of my life, I met Kathy. About my age, had two grown daughters to, and we connected dated for about three years. And in that process of being in Florida, one time on a trip. Someone said to me, have you ever heard of Orange Theory, Fitness? And I kind of said those things Works. What the blankety-blank is. Orange took the class like the class but fell in love with the trainer because I have said over and over she bled orange my entrepreneurial had goes on and I bought three Franchises initially and then ultimately bought the north Texas territory and over the next five years we built 33. Orange Theory Fitness Gyms Kathy and I got married. She was great raising my voice, and we sold that company. And December 2019, three months before the pandemic for about 66 million. Wow, and why the timing of that exit? I mean obviously See, you didn't know the pandemic was coming but why'd you sell at that point? No, I have a five-year model. Now, once that once I got through the things and now I have had like eight exits. So the five-year model is you know, build a put it infrastructure. Get it going, don't take your money off the table, immediately. Roll it back into your company. And I had literally hired Fifth Third Bank to take us to Market on January of 2019. So Market did the book as, you know, and we had seven seventy interested parties. We had 39 letters of intent. It was no, it was so it took us six months to negotiate through all that, which just dropped us in the December. No clue, no clue. And it was sold to a private Equity Group who I am still in touch with the day partner. I maintain the area ristar, surf Fitness, but we still don't the area. I look so eight franchises since we sold the company to other folks. And you know, next year November 2023, my Orange Theory, Fitness days are over because of my area rice contract expires, and so we have started some other companies we did a group called be balanced. It's a female homeopathic hormone weight loss company as lucky as we work to get out of Orangetheory free covid right that unlucky to get into a retail company. So I just literally two weeks ago brought in a new partner. Someone's has more experience in that space, and we have got three stores open. We got there in covid. Now, we're going to reach our plan was 18, so now we're back on track, okay? I love the group called scent hound, and they do a pet, wellness, health, and wellness and grooming company 10 locations in Dallas with the rights for 10 more. So, putting together the team for that for fear sound like a complete Peckerhead. Just bought a charter jet company with a jet. So that's kind of Fun and learning that business just brought 15 trailers over from China for a food trailer company with another group. So just kind of having that love and doing the mentoring loving doing the really excited about not having to worry about whether Tom or Sally punches, the clock anymore. And it's not my job is to just mentor and be there for people and guidance. So I am really enjoying that right now. Yeah. So what does just briefly, what does kind of a your typical week look like Monday through Friday? Or even just a typical day house? Was that look like, well, it is today, I had an 8:30 meeting for a guy pinching? Me on a deal. I had a 10 to just a few minutes ago board call for a pet toxicology countdown involved in and on their board. Now, I am doing a podcast with you and I think with you, I have got to kill somebody to or somebody threw a couple to be balanced centers sons in town will take for sushi tonight. So it's a lot of nice when I am in town. It's a lot of meetings and then when I am in Cabo it's kind of interesting because covid really created Virtual world. I will sit on this computer for five or six or seven hours. Sometimes my wife husband's a me but I will. There's a for Mexico started on property management company they're with a group, so we're not going nowhere. Does the property management company operate they will be based out of Cabo, okay? San Jose del Cabo and you know, Cabos Market, housing market has just gone crazy. We bought a house, two and a half years ago and it's doubled in value. In to have years. Wow it was a lot of relief or property management, and so we're putting it together right now. We're trying to figure out the right marketing strategy, we kind of want to be american-based just to kind of catch people's attention, so Ed and just to be clear you don't really have any kind of formal business training is that fair to say? You know mine is all the School of Hard Knocks. I mean I went to college, but they don't cheat. You know, we have a funny line in Story and my, in my life, where my 12 year old son, one time said, dad, you have to stop saying they don't, they didn't teach me that at Jones County, junior college. So I used to say that all the time, he said we should turn that into a drinking game. So for fear of going to jail, I might be the only guy that did a tequila shoot with his 12 year old. Son was not good. And yeah, don't teach you that Jones County, junior college, they really don't teach you this stuff. You learn it through real Brazil. Used to getting knocked down me back. Yeah. Well, let us hope the statute of limitations has run out on the tequila shot. Have to prove it. Yeah, so I mean, just wow, it just so many now looking back if you had to, you had to so much adversity, what would you say? Just whether it's whether you're thinking about financial adversity or health and loss of loved ones or divorce. What are, you know? One or two lessons. You have learned from all that adversity. Yeah, I think well, the health one is hard to predict, you know, I am sure I do a lot more screening of my body now, and CT scans all the time and things like that. But, you know, the business that I kind of wish I had started earlier. I wish I would have jumped earlier, I wish I didn't and that it takes risk in, you know, there's plenty of sayings if you don't, you don't learn from successes, you learn from your failures and how they add to that. If you haven't felt at least three times, you're probably not trying hard enough. My kind of, we kind of started earlier, I really know. It's a good one. So for people out there, who do you think everyone should be an entrepreneur? Should they have a side hustle? You know, while they're working a full-time job if they're thinking about starting a business. I know that's kind of hard to give blanket advice to someone, you don't even know. But what would you say as far as working a W-2 and starting a business at the same time or just ripping off the Band-Aid and jumping? Don't let me be very clear. There is nothing wrong with building a career and working for do. There's nothing wrong with that and I met people that she Financial dreams and security for their family. Yes, the do that but it is hard to go to that next level to you just because it's just so important for people to understand that. Not everyone can be an entrepreneur but it's okay, you know. Yeah, I have tons of people in my life. That aren't entrepreneurs that have been successful at times of people in my life that have just gotten by. And that was okay. They paid their bills. They have retirement plan, good for them. Yeah. So now and I did I will have some rapid fire questions but before we get to that what do you get from put your investor hat on not so much your business entrepreneur hat. But what do you look for in Investments these days? Yeah, it's usually I have kind of slowed down on investments. I have my own private fund, I have done about 43 different startups, investment more Angel Investing, some have worked out, a couple of worked out. I got one that's going to maybe a grand slam, we will see what happens. But I have also had some that just bailed medical point in my life where I am kind of living on the money. My money makes this kind of nice place to be. It's a really cool place to do, so I am much more conservative in my investment right now. I am looking more in income producing Investments. So realistic, a bad word. Sure, I look at other things that are income-producing, not doing as many startups anymore. Sure, I need the money working. Yeah, you need the immediate cash flow and you don't need the risk as well not in the budget. Yeah, sure. Okay now that makes a lot of sense. Okay, if you're up for it, I am going to fire off some rapid fire questions. Here you go, buddy. It's one thing that people misunderstand about you. They think I am a dumbass redneck actually. Speaking of that, just mention your book. If you would hold with got a redneck resilience it's a country boys journey to Prosperity. I have got so many more stories that I did until today about my life. I am probably well as my pellet on top is the luckiest redneck in the world. Nice, unlucky, redneck a Peloton. That's me, I love it. That's awesome. You have next question, we have already talked about this somewhat but what would you say is one of your biggest failures? Maybe besides failures are regrets, besides, not starting sooner, anything else come to mind? Yeah, I mean, I have personal regrets, you know, I think that are a bit intimate but you always regret having divorced it, you know, and you have a five-year-old child, you have to try to see twice a month while you're traveling all of Rome and so have a lot of regrets about that. But if I hadn't done that, I would not have met Marsha, And I have tons of regrets about her leaving this world. I question. Why, and how? But I also recognize that I wouldn't have met Kathy, so it's kind of just transition of you regret and sadness. But also I keep bouncing back and going. Okay, let me take this thing bad. In the case of Marcia, I mean, we created probably five or six, different philanthropic Endeavors. We put up a scholarship fund for all her nieces and nephews and Her 10th anniversary, my son's met with all the nieces and nephews, and we just put together scholarship fund for the nieces and nephews children while markers honor. And then we put life insurance on the boys. So when they kicked the bucket, the educational fun. We find again and maybe their great-grandchildren on know who Marsha Beth disher was. Wow, that's phenomenal. So, it sounds like you, you realize, you can't take the good with without the bad and vice versa. It's not nothing operate. In a vacuum, you're going to get the bad, you're going to get the bad, a bunch. And yeah, I think the difference is that ability to not just get back up as we do by getting knocked down. Get back up, its getting knocked down, get back up and then finding a path. And in my case, you know, having some really hard times and okay, that path didn't work. Let me try this bath, sure. You just live a lie and that maybe that's the maybe you already gave me the answer to this question. But if you could go back and give your 18, Her old self some advice. What would it be? Some advice. I will say this that relationships are key and critical in the single biggest factor in your success. That's really good relationships, whether it be with your employees, but move your customers. But the booth you have Benders, I have such good relating, their should they're serious and sincere relationships? People that wrote me a million dollar checks just because they trusted James Webb. Yeah. So it's not just transactional and based on a contract. Got it. Okay. That's really good. If you could have coffee with what? Any historical figure, who would it be and why? They could be, they could still be alive if you choose that although a lot of lava fun ones to talk about but I think really I am a big fan of Calvin Coolidge okay. Yeah discussion about being omnipotent you know and I would really love to understand more about what he went there because he's not ranked as a good president, but he did some good things and it might be fun to sit with someone like that go. Okay. You aren't well-liked but you did good. So explain that to me. Sure. That's, that's really good hadn't heard that. That hadn't been given that answer before. Normally I asked if that Elvis or something, but that's normally I ask something about. If you're, if you were given 10 million dollars tomorrow, what would you do with it? Maybe I should change it to 50 in your case, but I am joking around. But what would you do with a, if you were just handed a huge check tomorrow, what would you do with it? Yeah, so we have that in place now for our current deals and so We once we pay our taxes, we have committed to percent of all the money we make goes into. We have a family foundation. So every time we make a check or Penny 10% goes to Family Foundation, the rest of it just goes back into the money for the family. I mean, my we spent a lot of time and energy on family governance, we actually hired a company to work with us, and we have camp meetings. As a family, we have a monthly get-togethers and family. My children, see my balance sheet Once a year, huh? Now they have to tear it up after they see it, but we go through them. They understand it. Yeah, the estate land. They understand it. So I don't know if I do anything like go buy a yacht or anything like that it's just into the family. So my Heritage, my legacy, my children, my grandchildren. Sure none. Have a little more. Yeah, curious about that to do. Is there any resistance or any kind of like disagreements that ever come out of the those family? A quarterly meeting, you know, I think we have had some discussions of disagreements about certain points but what's really been best about is we have our little committees and which is kind of cute that we run our family, almost like a business. So we have the financial committee which I am teaching and about our business, we have the full and immediate which runs our foundation. And then we had the fun committee which plans are yearly family, Retreat, or education, or time. We all try to get together, that's pretty cool. I am glad I asked that one, that's pretty, that's really neat. Yeah I mean this so mentioned to you before I am and it's the wealth of that Wall Street Mastermind and a lot of these the things that these guys talk about are similar to what you're saying as far as just getting you know, basing things around the family and planning and Legacy and as opposed to You know, IRAs which is an individual investment plan, nothing wrong with an IRA. I am not saying there is but you know nowadays at least where I am and in Maryland. It's everything's kind of me, me, frankly, and, you know, so I think that's, that's really good that you have established that structure and the forward-looking planning element and it's all sort of based around the family. So, Personally, I really like that. It's really important to me to do that and it's I learned a statistic that caught my attention probably 10 years ago which was 94% of all wealth has long-lost by the third generation and I have had some extent of that caused by Family, disagreements, not by bad Investments and when I saw that, I hired a company instead of gay, teach me how to keep my family together. The number one way to do that is philanthropy. For two companies that. Yeah. But what company did you hire? Do you mind mentioning their called Xperia 360? They're out of Baltimore. Maryland. Okay, so yeah, I am writing I am in Baltimore County so yeah, I will send you the website. They're good. Bunch of guys, they specialize in this and really we started out with you know basic stuff in the beginning. We're on our sixth or seventh year with them now. Okay we're done. He dropped back to, they just organize our family meeting, they make sure we all get on the phone, once a quarter, have our discussion about our committees. So it's been doing it singing trying to teach my generation and I think that the biggest challenge you have for me and for you and others is start. Let go because I like to be a joker. And, so I am going to try to learn how to let go. Let them make decisions, right? Yeah, absolutely. And I think to, you know, timing it for when they're actually ready is another You know, these for me a challenging thing. So what is a book besides your own? What's another book? You'd recommend for my audience whose entrepreneurs and Real Estate Investors, I don't know how, you know, it's kind of funny. I am not a huge reader but I wasn't the one that read my favorite book is the one-minute manager. Okay. Yeah. And that taught me so much about management skills as it was, a young entrepreneur, don't really have one to recommend, there's a book out there for families called by the milk first which really teaching the basics of family financial management. So okay, let us try to keep my team and that applies to whether you're building a retirement plan or whether you're trying to accumulate wealth. It's a decent little book. Okay. Now that's good. Those are two good recommendations actually. What's one question that you wish I had asked that I haven't asked anything you want to cover? No, I don't. Listen, this has been a fun when I have done a few of these podcasts and this is always going to be someone like you who is a good guy to go and ask the right questions that no I am extremely excited about where this is going. I appreciate that and I know you didn't come on to really plug anything. Hopefully our listeners will go out and buy your book. I am going to buy it. I am going to read it that resilience. There you go, redneck resilience, so they can find that Amazon pretty much a margin Mobile Books-A-Million, it's there. Okay. Awesome. Yeah. Is there anything else you want to plug or mention how our listeners can reach out to you and one of them, even go to my website? James Harold web.com. Yep. Easy one there. I love mentoring. I am kind of tired of getting pitched and say, how do you do the? Do you have kind of mentoring structure or how? Does that work? No, it's just been kind of fun. People reach out will usually connect to zoom and local. I am going to get them helping down Fort Worth. I literally don't even know him, but he's got a business opportunity, and so we measure is a now we're going to meet again in January. That's right. We're doing it. Yeah so it sounds like it's just something where you're giving back. Fantastic. All right. Well, James Webb. Thank you so much for joining us. This has been fantastic. I really do appreciate you taking the time. Maybe you have a little more time than you had a few years ago, you know, during the day, but you didn't have to take, take this hour with us. So I do appreciate you, sharing your story and the ups and downs and personal as well as business with our audience. So, thank you so much for joining us bless you. Thank you for having me. Absolutely. And to our listeners out there, You so much for joining us and sharing your most valuable resource with us and that is your time. Thanks everyone. Take care.

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