The Poker Mindset Behind a $100M+ Business

<p>What can a professional poker player teach entrepreneurs about building and protecting a company?For Jared Solomon, co-founder and CEO of Five Iron Golf, the answer is risk.Before Five Iron, Jared studied philosophy, earned a law degree, played professional poker and worked as an equity-options trader. Those experiences shaped how he thinks about probability, downside protection and making decisions when the outcome is uncertain.Five Iron Golf started in 2017 with four simulators in New York City. Today, Jared describes a business generating more than $100 million in revenue, with locations expanding internationally.In this episode of Uncommon Wealth, John McDonough and Jared go beyond the growth story.They discuss why Jared prefers reducing catastrophic downside over maximizing every dollar of upside, why he and his wife have taken money off the table during funding rounds, how Five Iron diversifies its revenue streams, and why successful founders can become so focused on their companies that tax, estate and succession planning fall behind.IN THIS EPISODE:- What professional poker taught Jared about risk- Why good decisions can still produce bad outcomes- Why entrepreneurs often overthink major decisions- How Jared evaluates downside when opening new locations- Why he has accepted dilution to reduce leverage- Why Five Iron takes operational details so seriously- Taking money off the table during funding rounds- Building personal financial security outside the company- Diversifying Five Iron&#39;s customers and revenue- Turning the home-simulator trend into another business- Jared&#39;s candid realization about estate and succession planning- How he and his wife think about their children&#39;s future- Giving children money vs. teaching them to steward wealth- Why your number two should be capable of eventually doing your job- Jared&#39;s definition of Uncommon WealthThe central lesson: taking intelligent risk doesn&#39;t mean risking everything.Connect With Jared Solomon: 🌐 Website: https://fiveirongolf.com/💼 LinkedIn: Jared Solomon | LinkedIn📸 Instagram: https://www.instagram.com/jaredbsolomon#jmacwealth #jmacadvice #jmacstrategy #johnmcdonough #uncommonwealthpodcast #UncommonWealth #wealthbuilding #entrepreneurship #financialfreedom #businessstrategy #riskmanagement #leadership #businessleadership #scalingbusiness #entrepreneurmindset #businessowners #generationalwealth #wealthmanagement #entrepreneurship #riskmanagement #businessgrowth #scalingbu