Lessons - Inside the Billionaire Mind | Timothy Daniels - TIGER 21 CEO

In this lessons episode, explore what comes after success, and why achievement alone is rarely enough. Discover how intentional community design creates lasting value among accomplished peers, understand how diverse perspectives strengthen decision-making and collective intelligence, and uncover how aligning personal goals with shared learning drives long-term impact in business and life. It's actually funny because I see a lot of people talk about every I've had an exit myself and every person that I follow, they're all entrepreneurs that have achieved some incredible level of success. Those are the people that I look up to and try and learn from, but it's always people trying to figure out what's next because the second you have this conversation is unfortunate because you have the conversation about having success in life, and a lot of people will immediately be like, well, that's a rich person problem. But I don't think people understand the fact that people that do have success don't want to just be seen as a person who had success once, and they never want to make an impact ever again. And this is not part of this conversation, but I don't love the hate on Elon, for example, when he's achieved so much success and we talk about all the BS with the taxes, even though he's paid more taxes than a human and human history, when realistically, he's quite literally advancing human civilization as we know it. And I think that obviously Tiger 21 members are not at even at the level of Elon, but the point is, when you do have incredible event, no one is. You want to have a playbook for giving back, but I want to back it up a little bit. I want to also understand how you built this. I want to understand because I think there's a lot of community building exclusivity, uh, uh, architecting that you've built into Tiger 21, which is very effective. And that could be a lesson for even if you're not trying to build a community of like these ultra high net worth individuals. The way that you've built out the community and the value offer and the way that you structured it and the way that you attract new members, I think is is a very tactical playbook that somebody could use for building out other communities because you've done it very well. So I want to understand the actual, the business strategy behind Tiger 21. You know, I'm going to sort of create a framework that hopefully will allow me to answer that question as best I can, Scott, which is kind of heart and heart and mind. And it's sort of perhaps a blinding glimpse, the obvious or tried or what have you, but it's also true. And I want to come back to it, but I also just want to make clear, um, you know, um, I'm actually the, the steward of what I think is a great institution. This institution was created by its founder, Michael, Son and Feld. Um, it has now been around, we're entering amazingly, our 23rd year. And so this is something that has been, um, while all the core elements are still there, we're really just building on top of it to make the member experience even greater based upon what members tell us might enhance their experience. But so, um, I'll, I will, uh, just to be clear about this, you know, sort of, I'm, I'm, I'm standing on the shoulders of some very impressive people, not the least, which are founder. We ought to not do, not to diminish what they've done, but I do know that now you've picked up the torch and you're running with it. And you still know the strategy they use. So even if it's coming from them, you're the, you're the person that's deploying, you're executing it now. So, so, yes, I understand. I just want to give credit for Chris. I'll give my own credit when it's yet, but anyway, but, you know, so, so it is, um, I think the hard and mind part of this, first of all, take basic elements of peer networking. It is how do we actually bring together, um, people in, in Tiger 21's case, intentionally built on the foundation of collective intelligence, which means we strive for diversity at every turn. We'll never be done. Um, we'll never achieve our diversity objectives, um, because you can never optimize diversity ultimately against all dimensions. And so, but it's when you consider on the table with people who've had different experiences, who have different interests, who come from different backgrounds, um, that's where the richness really comes in. And so, and by the way, that's most peer networks are built on that basis, but from Tiger 21, I will say, from day one, we sought to build that out. And thankfully, I think we're continuing to make some very good strides along those lines, um, because that diversity, again, those people represent your board of advisors. And if you had, you know, if, if a board, a public company board is not structured with, uh, you know, eight people who all are from your accounting firm or from accounting firms or from legal firms or just from the, or product, or marketing people, they bring you a diversity for the very reason that you need these different lenses to look at optimizing an opportunity. And as a member, it's your, your, your, your life, your future, your, that's your entity that your board is now helping to advise you on. And so, you want people who are different sitting around the table. Um, but the hard and mine part is, you know, I often ask members in these welcome calls that I referenced. Did you come here for, think about a continuum? You've got a, you've got on one end of the continuum utility aspects. So I want to improve the performance of my portfolio. Your friend, I want to make sure I don't lose the 200, the hundreds of dollars, you said hundreds, it's probably worth the 200, but started 200. A little bit more, but it was a good exit. But yes, that I created. How do I avoid losing this? How do I make sure that my philanthropic impact investments are having the greatest impact that my estate plan is established properly, et cetera, et cetera. So there's these utility items that it's sort of like check the bots on, right? I want to, I want to see a unique proprietary deal flow, which absolutely is a key benefit at Tiger 21. But on the other end of that continuum, Scott is sort of the experiential aspects. I've had my head down. I haven't developed other relationships. Um, and just as you said, you know, last week I had 2000 people who laughed at my jokes. Now it's, it's my paid assistance who really could care less about me if you're about my jokes. And, you know, he's actually to sort of, he'll chuckle at the accessory, but in any event, you know, it is very much of that, right? And so, um, it, you know, how do we actually create the structure, the experiential element? How do I create new relationships? How do I actually have new experiences? How do I diversify sort of my own portfolio, if I will? And I'm talking about my investment portfolio. I'm talking about my life portfolio. And so where on that continuum, you know, might you emerge? And what I would say is some numbers will say I air, I air on one side or the other, but ultimately they all end up benefiting from the entire plate, the entire opportunity set that exists for them at Tiger 21. So we create the conditions through our group meeting. As I think you probably know, we have paid facilitators that we call chairs, chairpeople, who lead the group, who curate the group, who really are there to make sure that each individual member and the group as a whole are optimized in terms of their experience, but then we augment it with other areas that look across the entirety of the network, not just in their 15-member group, but across the entirety of the network to be able to tease out opportunities to be able to enhance and customize each member's experiences, you will. And so that's the fundamentals of networking. Forgive me, I'm kind of prattling on your bits, but no, no, no, no, no, no, keep going, it's good, it's good, go ahead. It is, you know, the more nodes that you have out there and the more that there's differentiation of the nodes, then you can create them so that they can reinforce one another, that's where the power of the network really starts to emerge. And so the most power is going to exist in that 15-member group that you have, but what we're also doing is bringing the power of the entirety of the network to you. So anyway, that's kind of the foundation on which it was built and also gives you some senses to where we're going. And when you bring these individuals together, one of the things I thought was very interesting is that you deliver education and human development, but at this level, it's far beyond what a regular mastermind, for example, would deliver. And also, you have some of the smartest individuals in the world that will probably critique and analyze and pick apart every single thing that you say or do or try and teach them. This is not like an easy crowd, right? These are not, these are not people that are going to, that are going to be easily convinced of this, that or the other if they don't believe in it, like, wholeheartedly. So, when you have all these personalities, how do you build the curriculum out? Because I want again, take the, take the lessons that you, that you teach over and the things that you help these people with at this age in their life. And then if we can figure out how you do it at this level, then how you build a meaningful curriculum that actually helps people that you can get on board to buy into can be distilled into any level of community or group that anybody's trying to build. Well, this is, and again, it goes beyond curriculum to include experience and other elements. What we treat, really try to understand, and we support the chair in this regards, Scott, is to understand what individually are people trying to achieve. And that is the question that I have in my welcome call with every member. What are you trying to get out of this? And the other part is, what is the group trying to achieve? You know, as a sort of collective, if you will, what would success look like? And so, you know, when you, and this now goes back to my sort of educational background, and if done properly, you start with the end point, right? What's the objective? And then you back up from that. And so when we think about content, we sort of go to the group, and if the group doesn't need to be, you know, instructed on health and wellness, or if they don't need to be instructed on investing in industrial real estate, we're not going to include that as part of the curriculum, but we're going to sort of bring it to bear based upon what they really are looking for. And this again is where we work in, you know, hand in glove with our chairs to be able to make sure not only do they have the tools necessarily, necessary, but that they have access to the resources to be able to get the members what they need. But I would also say many of the learnings and you are alluding to this come from the members themselves. One of the key criteria as we evaluate members, and if they're a good fit for Tiger 21, because not everybody is, is do they not only have the ability, but do they have the desire to both teach and learn? And so, you know, we can look around that table, and you're going to have, just as you said, you're going to have experts in a number of different fields, and are they willing to sort of share their insights? It's not that they have to get up and be the instructor, they don't, but they have to be willing to sort of share their insights from the areas in which they have expertise. Additionally, they have to be receptive to others who are willing to share their insights in areas where the members want to enhance their portfolio, if you will. And again, not investment portfolio, life portfolio could be investment portfolio also. Thanks for tuning in. If you found this valuable, don't forget to hit that subscribe button so you never miss an episode. And if you want to dive deeper into this conversation, check out the links in the description to watch the full episode. See you in the next one.