John Malone has been able to put up phenomenal financial returns over his career. Below he shares his simple formula. While it’s short and sweet, this is hugely important in any business endeavor. Notice how he says, “I couldn’t exist without [it].” All intelligent fanatics live by this one formula and execute it perfectly.
I couldn’t exist without trust because my philosophy is pretty much delegation of authority and responsibility. I probably at one point had over 40 partnerships going. There’s no way that you can run those [alone]. You have to depend upon your partners or the executives to do the job.
You know you can have auditors and everything, but the bottom line is you delegate authority to people you trust. Then you hold them accountable to perform. It’s a formula that generally has worked very well for me.