In today’s episode, you’ll hear from Rick Rule, now the former President and CEO of Sprott US Holdings. Rick is outspoken to say the least, but still seems to consider every word carefully. His entrance into the finance industry is a story worth listening to twice. Also, the people he learned from can be credited with leading the frontiers of the Canadian venture capital industry.
In the first part of this interview, Rick says, “I look forward to being useful.” This seems like a bit of a dismissive remark at first. However, as you’ll hear, Rick’s career has been built on doing exactly that: being useful and creating value for his clients. There is almost a purity to his approach and how it ties into his libertarian beliefs. When it comes to business building and financing companies, Rick doesn’t mince his words. He is very clear on the expectations he has for those who come and pitch to him for money. Furthermore, he articulates his expectations in a way that is in line with the other highly successful people you’ve heard from on this podcast.
To draw an analogy, his expectations are major league. However, when most people pitch for money, they do it with a minor league understanding of their project and its potential. Rick speaks about capital raising in the early stages of a company and makes the point that, in your early rounds, you should be raising allies and not money. In other words, put that stock in the hands of investors who are capable of being there for the long haul and not just going to turn you out for a quick and easy double.
There is so much to learn from this interview, so make sure to tune in today!