In this insightful episode, Charles explores the entrepreneurial journey and personal resilience with Bobby Mesmer, founder and CEO of RMG Erectors & Constructors, LLC, now valued at $4.5 billion.
Bobby reveals his path from bootstrapping his business to building one of the largest steel erection companies in the world, sharing how multiple life-threatening health crises transformed both his personal outlook and business approach.
The conversation shifts from business strategies to profound personal reflection as Bobby opens up about facing mortality through multiple strokes and a heart attack that left him partially disabled and questioning his worth as a leader, husband, and father.
Rather than focusing solely on business tactics, Charles and Bobby explore how vulnerability and self-belief become essential components of both personal recovery and business growth. Together, they challenge conventional entrepreneurial wisdom, emphasizing that true success comes from learning from failures and sharing those lessons with others—what Bobby calls paying the "dummy tax."
Key Takeaways: * Why bootstrapping creates more resilient business owners than seeking venture capital * How near-death experiences can reveal your true purpose in business and life * The operational excellence formula that transformed Bobby's company into an industry leader * How embracing personal vulnerability after health setbacks can become an unexpected source of strength
Head over to podcast.iamcharlesschwartz.com to download your exclusive companion guide, designed to guide you step-by-step in implementing the strategies revealed in this episode.
KEY POINTS: 02:13 - The Dummy Tax Philosophy: Bobby explains his core business philosophy: "Dummy tax. I made the mistakes learned from me, right? Like, and you know, it started anybody in business, if you're not failing, you should be because that's the only way you're learning." 06:00 - The Scale of Success: Bobby reveals the impressive scale of his business achievements: "We develop that business into also manufacturing and engineering and design... We're the largest purchaser of fabricated steel in North America." 09:44 - The Problem with VC Funding: Bobby shares his strong view on bootstrapping vs. seeking investors: "When you take on capital, the problem with that is, is you're creating a crutch with the capital you're taking on because you're not going through the heartache of running a business and learning how to grow." 13:01 - The True Entrepreneur Test: Bobby explains how to identify real entrepreneurs: "It's very simple. What are you doing in the face of diversity? It starts there. When that adversity hits you, what are your actions? Either you're sticking your head in the sand or you're pulling yourself by your bootstraps." 35:53 - The Health Crisis Reality: Bobby opens up about his devastating health challenges: "When I had my stroke, I lost a whole left side of my body, like I couldn't move my face... that was the first time in my life, like, I felt real fear, you know, like, I was like, holy shit, like, this is, this is real." 37:46 - Wrestling with Unworthiness: Bobby reveals his deeper struggles after health setbacks: "You have a lot of, you know, self-awareness that comes about you through that... You start to question things and you go through so many emotions of, you know, am I really the strong? Should I really be doing this? I'm not worthy? I'm not good enough for my wife. I'm not good enough for my kids." 50:02 - Finding Purpose Through Pain: Bobby shares how he found meaning after his health crises: "I have more to do. I have more to do. I know that I've been gifted with a gift in a lot of ways. I've been gifted with a gift that I need to give back to people... if my survival through what I went through is that gift that I need to give back, that I need to give that back until it's done."
