074. Frank McKinney | From Rich to Enriched: Success in the Business of Life
How does the integration of philanthropy and capitalism redefine the traditional concept of success and giving? This episode features Frank McKinney, a real estate entrepreneur and philanthropist. McKinney shares his journey from humble beginnings in Indiana to becoming a successful real estate developer, selling some of the most expensive houses in the world. He emphasizes the importance of philanthropy in his life. He discusses the concept of "philanthrocapitalism," which involves combining the best aspects of philanthropy and capitalism to create sustainable solutions to poverty, and through this approach, he has built self-sustaining villages in Haiti. His story illustrates how success in business, coupled with a commitment to philanthropy, can lead to a more fulfilling life. Listen to this inspiring conversation as Frank shares how you can start giving small and make a big impact. [00:00 - 08:40] Becoming the Person You Want to Be Frank’s humble beginnings in Indiana, combined with his early challenges, underscore his resilience and determination to achieve success against the oddsDespite a lack of formal education and a challenging start in life, Frank’s tenacity and hard work led him to a prosperous career in luxury real estate development [08:41 - 24:10] Philanthrocapitalism: Giving Beyond Charity Frank breaks down the concept of philanthrocapitalism, which combines the heart of philanthropy with the efficiency of capitalism to create sustainable solutions for povertyReflecting on his journey from a troubled past to finding his professional and spiritual callings, he emphasizes the importance of finding purpose beyond material successHe argues that mere charity exacerbates poverty, advocating for sustainable projects like building self-sufficient villages in Haiti as a more effective approachHe also highlights the importance of measuring the impact of donations, focusing on how far each dollar goes in creating lasting changeIntegrating philanthropic efforts into business models and stresses that giving is a fundamental part of professional success [24:11 - 32:59] Aspiring to Enrich Lives Frank introduces his book, Aspire, and focuses on how we can move from the conventional definition of being rich, which is often fleeting, to being enriched, where one's impact extends beyond material wealthHe also talks about what’s next for him and his business [33:00 - 50:29] Small Acts, Big Impact Frank underscores the importance of recognizing and appreciating the often-invisible people in society, such as custodians and short-order cooks, as a way of practicing everyday kindness and generosityHe challenges the notion that happiness comes from external sources, advocating that true joy is a result of being a responsible steward of one's blessings, especially in helping those less fortunateHis philosophy on giving and happiness suggests that small, consistent acts of kindness can have a significant impact, both on the giver and the receiver Tweetable Quotes: “Exercise your risk tolerance like a muscle. Eventually, it will become stronger and able to withstand greater pressure.” “You marry philanthropy and capitalism together, then you can solve poverty.” “If I can succeed in the business of real estate, that's meaningless unless I succeed in the business of life. And part of succeeding in the business of life is sharing your blessings with those less fortunate.” Resources Mentioned: Hope From My Heart by Rich DeVos Simply Rich by Rich DeVos _____________________________________________________________________ Connect with Frank McKinney through Website: https://frank-mckinney.com/ Get a copy of his book now: Aspire! by Frank McKinney CONNECT WITH US! Join our Facebook Group LIKE, SHARE, AND SUBSCRIBE! Listen to the Go Big To Give Big Podcast on different platforms. Apple Podcast Amazon Music Spotify Castro For more information, you may visit: gobigtogivebig.com https://therei
