How Risk and Reward Shaped Tracy Britt Cool’s Success
The Leap of Faith That Paid Off
In the world of business, risk and reward go hand in hand. For Tracy Britt Cool, a protégé of Warren Buffett, her first leap of faith proved to be a game-changer. Graduating from Harvard Business School in 2009, Britt Cool took a self-directed initiative to send letters to top executives at companies she admired, seeking a meeting. While she anticipated refusals, she believed that the potential rewards far outweighed the risk of rejection. This approach eventually led her to land a job as a financial assistant at Berkshire Hathaway, Buffett’s multinational conglomerate.
Britt Cool’s ‘never give up’ attitude and willingness to take risks are a testament to her success. Despite the majority of her letters going unanswered or coming back with refusals, she saw those rejections as an opportunity for growth and resilience. Growing up on her family’s farm in Manhattan, Kansas, she learned the importance of persistence and the value of hard work. Rejection became a familiar part of her life, and she developed a thick skin and an unwavering determination to overcome obstacles.
The Power of a Personal Approach
Britt Cool’s approach to reaching out to top executives without a specific agenda showcases the power of building personal connections in the business world. She did not seek meetings for the sole purpose of job-seeking; rather, she aimed to engage in thoughtful conversations and create opportunities. This mindset resonates with similar stories of successful entrepreneurs who cold-called business leaders to establish connections and make unique opportunities happen.
One such example is Steve Jobs, the co-founder of Apple, who cold-called Bill Hewlett, the co-founder of Hewlett-Packard, when he was just twelve years old. Jobs requested some leftover electronic parts, and years later, Hewlett offered him an internship. These stories highlight the importance of taking initiative, being proactive, and seizing opportunities when they arise.
Preparing for Success
Britt Cool’s success was not by chance; she was well-prepared for the opportunities that came her way. As the co-founder of Smart Woman Securities, an organization that provides financial training to female students, she learned the art of being well-prepared and asking relevant and researched questions. This preparedness stood out in her interviews, and it eventually led to her job at Berkshire Hathaway.
Her approach of mixing personal connections, thorough preparation, and thoughtful engagement paid dividends in her career. Britt Cool believes that putting in the time and effort to establish meaningful connections, just as with applying for scholarships or college admissions, is a worthy investment.
The Impact of Risk and Reward
Risk and reward are inherent factors in the business world, and Britt Cool’s success story epitomizes the importance of taking calculated risks. While the vast majority of her letters went unanswered or received refusals, it was the one ‘yes’ that made all the difference. Britt Cool recognized that the potential for rejection was low compared to the potential opportunities, and this mindset allowed her to overcome setbacks and pave her path to success.
Through her career journey, Britt Cool exemplifies the balance between risk and reward. Her story inspires others to embrace challenges, cultivate resilience, and pursue opportunities even in the face of adversity. By taking a leap of faith, stepping out of her comfort zone, and seizing chances that seemed unlikely, she became a true embodiment of the adage ‘nothing ventured, nothing gained’.
Summary
In business, risk and reward are integral parts of the journey to success. Tracy Britt Cool, a protégé of Warren Buffett, exemplifies the power of taking calculated risks and seizing opportunities. Despite facing numerous rejections, she persisted in reaching out to top executives, eventually landing a job at Berkshire Hathaway. Her approach of mixing personal connections, thorough preparation, and thoughtful engagement contributed to her triumph. Britt Cool’s success story serves as an inspiration for aspiring entrepreneurs and highlights the importance of embracing risks along the path to success.
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In business, a lot depends on risk and reward – and Warren Buffett Protégé Tracy Britt Cool’s first leap of faith definitely paid off.
Britt Cool earned the nickname “firefighter” while working with Buffett at his multinational Berkshire Hathawaythanks to their reputation for stepping in and solving problems when businesses fail.
But before she became the right hand of the Oracle of Omaha, like many graduates, she wasI’m just trying to get my foot in the door.
In 2009, Kansas-born Britt Cool graduated from Harvard Business School and embarked on a self-directed project: sending tons of letters to top executives at companies she admired.
Her request was simple: she wanted a meeting, but Britt Cool knew that would come with a refusal.
But in conversation with CNBC do itBritt Cool – who now runs her own private equity fund called Kanbrick– said that the risk of a “no” is far outweighed by the opportunities.
The Entrepreneur allegedly worth $50 million reasoned: “The risk is pretty low – there’s a chance someone will say ‘no.’ So why not try?”
Britt Cool said the “vast majority” of the letters went unanswered or came back with a refusal.
But the former CEO of Pampered Chef, a Chicago-based subsidiary of Berkshire Hathaway, had been preparing for this for decades.
Britt Cool, who’d worked on her family’s farm in Manhattan, Kansas since she was a teenager, said she’d gotten used to being turned away: “It was such a great training ground because you have to sell your produce and you have to talk.” to people.
“You have to ask, and you often get rejected,” she said. “I’ve grown a thick skin. I had no problem with people saying ‘no’ to me.”
The entrepreneur added that she went to celebrity meetings without an agenda: “I didn’t do it because I wanted a job. That’s not why I reached out to people. I did it because I wanted to be more thoughtful. In [Berkshire’s] In this case, it evolved that way.”
Finally got a “yes”.
Among the cancellations were big catches.
MorganStanley and Bear Stearns were among those who approached Britt Cool, now 39, with offers to talk, which Britt Cool believes won because she was “productive,” “proactive,” and “respectful” in her initial approach .
The co-founder of Smart Woman Securities — which offers training to female students on personal finance and investing — said she came into these interviews well-prepared and with researched questions, a tactic that eventually landed her a job as a financial assistant at Berkshire Hathaway.
It is not uncommon in the history books of entrepreneurship to turn to business leaders for help. The famous Apple co-founder Jobs, 12 years oldcalled Hewlett-Packard’s co-founder Bill Hewlett to request some leftover electronic parts.
Years later, Hewlett offered him an internship.
And it’s not the first time Britt Cool has used letters as a cool approach — in high school she wrote to organizations she wanted to learn more about, adding, “I wanted them to send me pamphlets and pamphlets. Many of them didn’t respond.”
It takes time and effort to put so much effort into making personal connections with key people in the business world – a process that Britt Cool says reminds her of applying to college.
“I went through two 400-page books, reviewed every scholarship I qualified for, and then applied for those scholarships,” she said.
“It takes the discipline, the time and the energy to do it. And to invest in it.”
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