Dear Peerage Partners colleagues, family, and friends
The term “journey” is greatly overused these days. Yet, when I reflect on my 45th anniversary as an entrepreneur, there is no other word that is more appropriate.
I always believed in Dare To Dream, but having started off with no experience, no capital, no expertise, no management talent , just a lot of energy, passion, and commitment, we were well suited to achieve our long-term goals of dynastic entrepreneurial success.
April 11 marks 45 years since I walked up the creaky stairs to my first office, 466 Bathurst Street, a small shared space over a leather goods store in Toronto’s garment district .
On April 11 , 1980 , I was 22 years old.
My inspiration was the fact that my first two employees were my parents. It’s what I call a reverse family enterprise.
As with all journeys, these first steps were fuelled by optimism , irrational dedication, and boundless energy and excitement.
I had a very basic map of where I wanted to go – but that was long before the days of GPS or Googlemaps!
Through the 45-year trek across all sorts of terrain, facing all sorts of weather, I have learned a great deal about surviving , prospering and succeeding in circumstances and environments that are less than ideal.
I learned from the famous quote from the founder of McDonald’s, Ray Kroc.
He said “persistence and determination alone are omnipotent.”
But over the years, I was blessed to associate myself with fantastic, dedicated, entrepreneurial partners and colleagues, who shared my passion and vision for our shared future together.
We went through recessions, stock, market crashes, geopolitical, uncertainty, pandemics, volatile stock markets, and many other trials and tribulations.
But ultimately, as my late father said we always knew, “that this too shall pass. “
And history always proved him right.
With that perspective, it is fair to say that we are now facing some of the most challenging head winds in decades.
But while they may slow our forward stride temporarily, I remain confident that they will only serve to strengthen us, and bring out the best in us.
As the late Frederick Nietzsche once said, “that which does not kill me makes me strong stronger.”
I say that because there is one thing that has been proven to me over and again since 1980: Opportunity and success are a mindset.
The uncertainty and disruption which so many individuals and so many companies are dealing with right now is a very real challenge.
However, for those with the discipline and commitment to look beyond the smoke and the noise, there is abundant opportunity for growth, expansion, diversification, recruitment of talent , which will lead to incremental prosperity and success.
This has always been true, and it remains so. As Warren Buffet says, “Be greedy when others are fearful, and fearful when others are greedy.”
This has been a motto that I have followed, and has been true for our prosperity over 45 years.
Another lesson I have learned along the way is that you cannot succeed on your own.
Entrepreneurs often structure their ventures in ways that enhance their control, but that is not the way to build something sustainable.
In the words of Simon Sinek, “Creating something new is easy, creating something that can last is the challenge.”
From the start of my journey, I have built businesses and growth through long-term partnerships.
The professional and perpetual partnership was not only a model, it was a philosophy and a culture of long term success.
My parents – neither of whom were business-minded or entrepreneurial – were my very first partners.
They worked alongside me, grounding and balancing my ambition.
I learned early on that “building a team of Giants, and surrounding yourself with the people that are better than you”, and giving the right people the right tools and trusting them to use them well has always proven to be an important strategy for continuous improvement and success especially in adversity.
The third lesson I have learned over 45 years in business is to never , ever, ever give up , Never !!!!!
When I started out, I did not have the luxury of quitting. And so, every day for 45 years I have asked myself: What do I need to do to move and improve my business forward today?
What do I need to do to take care of myself today? What can I do to help one person today?
The ability to successfully withstand hardship, reversals, challenges or whatever comes your way – is not just about being stubborn. Itis about the discipline of sticking to some fundamental principles that carry you up the steepest hills.
The simpler these principles are, the more effective, enduring and shareable they will be. Integrity, gratitude, attention to detail, kindness, and generosity have shaped Peerage in good times and in tough times.
That will always be the case.
When I look back on the distance we have covered over 45 years in business, I have to thank the Good Lord for his blessings he has bestowed upon myself, my family, my Partners and our businesses .
Because without that good fortune, none of this would be the case.
For all the ebb and flow since then, I may be older and (a little) wiser. But I am every bit as optimistic, hopeful, and energized by the opportunity for our growing Dare To Dream success to continue for many decades to come.
It’s hard to believe that it’s been 45 years, but I still fundamentally believe, “that my dreams still exceed my memories “
Thank you to you all for Daring to Dream with me every single day.
Without your commitment, dedication, energy, and sacrifice, none of this would have been possible.
I look forward to sharing many more milestones of our mutual success in the years ahead.
Cheers, best wishes, and lots of health to all of us.
Dare To Dream.
Miles.
