“It’s about the journey, not the destination” is an adage that reminds me of Scot Cohen. Scot, co-founder of the uber-successful Iroquois Capital Fund, started his career with no business education, experience or money. He couldn’t even land a job. All he had was the will to succeed. That desire lead him on a journey in which he launched multiple companies, traveled around the world and stayed a few steps ahead of the competition.

In this episode, we speak about how journaling helped Cohen in tumultuous times, how he calculates risk and manages failure, and how with the right attitude, hard work, humility and a little luck you can accomplish amazing things.

SHOW NOTES:

• How Scot got started (3:00)
• Looking for something bigger (6:51)
• Journaling to define your path: Having a clear vision (12:57)
• Allocating time to the growth process (21:34)
• Pressing the entrepreneurial button (26:48)
• Capital, risk, opportunity, failure and hidden success (32:24)
• Making mistakes and measuring risk (36:30)
• Stepping out and starting his own business (40:39)
• Risk factors (48:56)
• “If Someone Would Have Told Me” (50:30)
• Daily rituals to hold on to (55:35)
• Libraries of books and knowledge (57:49 – 1:00:20)

RESOURCES:
Swim with the Sharks Without Being Eaten Alive: Outsell, Outmanage, Outmotivate, and Outnegotiate Your Competition (Collins Business Essentials)
Elon Musk

SCOT’S BIO:
Scot has over 20 years’ experience in institutional asset management, wealth management, and capital markets. Scot is the founder and principal of the Iroquois Capital Opportunity Fund, a closed-end private equity fund focused on investments in North American oil and gas assets. He is also the co-founder of Iroquois Capital, a New York based hedge fund with peak assets under management of approximately $300M across its family of funds. In addition, he manages several operating and non-operating partnerships which actively invest in the energy sector. Scot is currently Executive Chairman of Petro River Oil Corporation, an oil and gas company with its core assets in Northeast Oklahoma. Scot maintains an active investment portfolio in public companies, early stage private companies, and alternative products including real estate and hedge funds. Over the last 15-year period, Scot has been a market leader in direct investments and since 2000 has consummated over 1,000 transactions in over 500 companies, many as lead investor.

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