Ep.539 ~ Losing a $2.5 Billion Company & Bouncing Back ~ Warwick Fairfax

Could you imagine inheriting a 150 year old, $2 Billion media company at the age of 26? I couldn’t! Then along with managing this media behemoth losing the company completely over the next few years! Our guest today lived through that. That’s right, not too long out of Graduate school Warwick Fairfax inherited Fairfax Media one of the top media companies in Australia worth $2.25Billion, and then began the painful process of watching his family’s company slip away one day at a time until it was all gone!

Hello listeners, welcome to The Business Method Podcast. Today, we have a very unique story to tell you. In the intro, you learned a bit about Warwick Fairfax, and we will get to hear the exact story of what it was like for him as a young man losing his family’s company. But there is more, we also will hear how he turned his entire life around after that experience and where he has ended up today as a businessman, WSJ best-selling author, consultant, and entrepreneur.

It’s going to be an exciting show, so let’s jump into it….

04:41 The History of Fairfax

10:44 The Influence of Fairfax Media

13:16 How Warwick Ran the Business

17:06 Why Bad Decisions Where Made

18:23 How Warwick Planed to Takeover the Business

21:06 The Complexity of A Family Business

25:31 How to be Successful and Satisfied

27:28 How it Felt Losing Fairfax Media

31:31 Finding a New Normal

34:06 Restarting in America

36:59 The Decision to Start His Own Business