Reilly Newman | In a world where success seems to happen overnight and everyone can start a business of some sort, one thing remains true… Rome wasn’t built in a day.
You see, this expectation of instant gratification has become embedded in our culture thanks to social platforms, celebrities, media, and even the occasional entrepreneur who hits a home run. It’s not that their success is bad, but that it has impacted our expectations of our success and growth. Sure, you may hit a home run, and I truly hope you do, but I have found that the businesses that last are focused, not flashy, and simply, build over time.
A healthy business isn’t built overnight. Brands we consider are “overnight successes” are usually 5-10 years in the making before they hit their stride — because the healthy compounding of the momentum drives them to a level that then catapults them to new heights.
Simply because a brand blows up in a year doesn’t mean it will be around one year from now. There are patterns with these companies because the speed by which they grow is typically met with just as fast (if not faster) of a decline. This is due to the debt they may take on for the crazy growth or simply because they are not healthy when growing (caused by lagging profits or even riding uncontrollable variables like societal trends).
If this idyllic, sexy startup isn’t the path we should strive for, then what should our approach to business be? Based on my personal experiences and research, I believe we should think like masons when building. Say hello to the “Mason Mindset.”
Cathedral Thinking
This Mason Mindset is based on “cathedral thinking” which is focused on longterm building.
I enjoy this mindset because it’s not a self-serving mindset of immediate results and gratification, but focused on building something that will last for ages and serve others. When building cathedrals, the masons may not even see their final work. They may never see the endless flow of people enjoying their work or the final beauty of the architecture, but they build it properly so it can become this.
Their investment is not one of the present but an investment into the future. This naturally compounds because it uses time to its advantage; rather than racing against time, it lets time work with it. The beauty here is that this creates a healthier process and end result.
Just as a “flash in the pan” company may take off, it will succumb the downward pressure of not having a stable foundation. One of my favorite recent examples of this comes from the investment world. In 2020, a lot of markets got destroyed and some got very lucky. Lucky brands like Zoom, just happened to be in the right place at the right time. During this time, an investor named Cathie Woods was being praised as a genius due to her innovation ETF (ARKK) taking off like a rocket because some of these lucky brands were held in the fund. As she gained popularity, you had investors bashing the slow-and-steady investor Warren Buffett because his Berkshire shares weren’t performing as well during this chaotic period. Buffett is famous for his conservative building and very long-term mindset. He definitely has the mason mindset. Woods on the other hand became the talk of Wall Street, but time was not on her side. As the markets adapted, ARKK fund declined and soon enough dropped below the performance of Buffetts in about 24 months. Since 2022, Buffett’s ETF has vastly outperformed ARKK as his strategy continues to climb slow and steady.
My point is that with all the sexy investments and flashy new startups, Buffett is almost the opposite. His investment strategy is almost boring, but it has made him the 5th richest individual in the world for the last few decades. His Mason Mindset has empowered him to build an empire brick by brick.
Buffett Business
This Mason Mindset can be applied to your business and will make a huge difference because it makes us slow down and be deliberate. What’s interesting is that to me, having a brand-focused mindset is very similar. Building in a strategic manner that takes the future into account as well as has the courage to sacrifice present gratification for delayed gratification in the future is the foundation for a long-term investment strategy.
This mindset in your business and brand is not easy, but that is why it is the path less-traveled. It is why about 45% of businesses fail in their first 5 years. The pressurized environment of starting and running a business forces the team to focus on the here and now instead of the future state of the finished cathedral. Warren Buffett is 94 and still actively investing. His drive is as powerful as his discipline.
Like a mason ensuring the correct angles of each stone laid, we must be deliberate about each decision and action we make as a business. This becomes our perception and manages the brand your audience defines you as. Buffett has the reputation (brand) that he has because he has been consistent and extraordinary successful. He’s not looking to make a quick buck, but has built a cathedral that many investors have benefitted from as well as the companies he supports.
Brand is being deliberate. Brand is being strategic and methodical. It’s the on-going outcome of a Mason Mindset as you build your cathedral one brick at a time. You have the strength and stamina to sacrifice now for tomorrow’s reward. You give value now so your audience will trust and love you later.
Masons are not takers of the present. They are builders of the future.
