Wil Reynolds

Mar 23, 2021

8 min read

Living a Life of Enough. Part II — The $50 Million I don’t want.

What do I do with a $50+ Million asset if I think the upside could turn me into an out-of-touch ass?

Part 1 if you are interested.

The New Playbook

Who wrote the business playbook anyway?

  • The one that says winner takes all.
  • The one that encourages entrepreneurs to set up and sell, then do it all over again?
  • The one that rewards execs with out of touch salaries, saying they “deserve it”

What I Needed My Playbook to Enable

Taking care of my Day 1’s

I get chills thinking about the impact on my Day 1’s.

If I’m BIGGIE, I’m always trying to put on “Junior Mafia” — my love of rap has a consistent theme…when one guy makes it out, he brings up those who were with him, his “Day 1’s.”

I got a lot of Day 1's.

The idea is that your Day 1’s push to get you straight. Everyone focuses on making “Big Poppa” successful on the assumption that he won’t forget his Day 1’s. The ones who had a lot of other options along the way but they kept on believing.

Defining Day 1’s

Show don’t tell. As I built my list of Day 1’s, I noticed a trend. None asked to be Day 1’s. Most didn’t ever press for bigger bonuses, raises, etc which made me want to give more than they would have ever asked for. More of the ups and downs of this program in Part III.

My Hope for My Day 1’s

Now I hope to live long enough to see my Day 1’s kids go to college, get married, have their own kids. Maybe sit at a graduation or two. Maybe sit at a wedding or two. Sit in the back and know that their parents paid for that shit in cash in part because I hit my enough point, which expedited them to get closer to their enough point.

Not having to think twice about doing the right thing

Why is it so hard to do the right thing in business?
Profit over people is often the culprit.

Implementing the Playbook

The first calls you make are to a wealth management team

When I told my wealth team that I wanted to cap my net worth, they were like…here we go.

  • I am afraid of having too much
  • I get most of my joy from enabling others to feel less financial stress
  • I don’t want to leave money to my kids
  • Preserve my wealth
  • Maximize my wealth
  • Build my wealth for future generations

I have now diluted myself significantly

As you may know, phantom equity is only for a change in control. But as my wealth management team and I read from our new playbook — I will now use it as a mechanism to deploy more profits back to the team and community, ONLY. None for me.

So, what are we going to do with our profits?

1 — Protect the house
I always want to have 2.5 months of payroll in the bank. Enough profits tucked away enough to make sure we are safe.

My Next Step

I’ll keep sharing my story along the way, so check back if you want to see how this new playbook plays out. Part III is already in the works, and its the downsides of doing something like this, I fully expect blowback, stay tuned.