Transcript
Introduction
Rick
Our teacher today is Mitch Rales, one of the most iconic business builders and philanthropist of our time. Having cofounded Danaher 40 years ago, alongside his brother and best friend Steve, the Rales boys have strung together a track record of compounding that might even make Buffett blush. Consider that Danaher has annualized at over 21% for four decades, resulting in an 1,800x multiple on invested capital. And while the numbers are mind-blowing, the story of how it all went down is even more remarkable.
In this conversation, you'll learn from Mitch about the key inputs to his outlier success; why greatness is a journey that takes an unusual time horizon; the role that benchmarking plays in standing up any winning organization; why it's essential to cultivate learning agility and embrace transformational pivots over time in order to adapt and thrive in an ever-changing landscape; how an uncommon commitment to continuous improvement and long-term thinking, both at the individual and corporate level, have fueled one of the most impactful companies of our time; and also, the qualities that Mitch looks for both in leaders and businesses he looks to support.