A community-focused investment executive specializing in real estate and healthcare, Charles Nabit resides in Deerfield Beach, Florida, where he supports a variety of local organizations and leads a private family foundation. Among other community organizations, he sat on the boards of the Hippodrome Foundation, the B&O Railway Museum, and the BIC Educational Foundation. In addition, Charles Nabit oversees the giving campaign for The Nabit Foundation, which he founded in 1992, and operates Mission Driven Dining, a seed-to-plate restaurant, in partnership with Living Classrooms Foundation.
Charles Nabit currently holds two executive roles. He is the chairman and CEO of Southport Financial, LLC, and the managing partner at Westport Group, an investment partnership that primarily deals in marketable securities and various investments in business endeavors and real estate. He has been with Westport since 1983 and joined Southport Financial in 1999.
Charles Nabit also served as the chairman and CEO of Developmental Disability Management Services (DDMS), LLC, from 1990 to 2022. He maintained responsibility for all management functions for the business, which was among the largest providers of support and services for adults with developmental disabilities in the United States. Charles Nabit began his career at the law firm Venable, Baetjer and Howard in Baltimore, Maryland, focused on real estate and corporate matters, including multi-family property tax appeals, zoning, and bankruptcy.
Before beginning his career, Charles Nabit earned a juris doctor from the Marshall-Wythe School of Law (now William & Mary Law School) at the College of William and Mary, where he published multiple peer-reviewed articles and provided legal aid representation through Student Legal Services. He also holds a bachelor of arts in English from the University of the South. Here, Mr. Nabit received honors, made the Dean’s List, and was a member of Phi Beta Kappa and the Order of Gownsmen Academic Society.
Outside of his charitable and professional pursuits, Mr. Nabit enjoys spending time with his wife and two children.
What is your typical day, and how do you make it productive?
My typical day starts with exercise, either with my personal trainer or on the Peloton or Expresso bikes. This sets the right tone and frame of mind to conquer whatever challenges lie ahead for the day. I work for myself and I maintain an office outside my home where I can be most productive and efficient. I have two executive assistants to help facilitate that productivity. In terms of focus, it just depends on what is the crisis de jour. I am involved with many different private equity investments as well as real estate investments, so it just depends on where my attention is needed at any given time. I am good at multi-tasking.
How do you bring ideas to life?
I bring ideas to life first through thoughtful contemplation and reflection. From there, once a spark has been lit, I engage in research and development, in effect subjecting the idea to appropriate due diligence. The next step is crucial. I seek advice and counsel from persons whose judgement and acumen I respect. This is an interactive process that shapes and molds the concept, leading to the creation of a concrete plan. From there, it is a constant process of growth and adaptation.
What’s one trend that excites you?
The mega-trend that most excites me at the present time is the national focus on discovering and eliminating fraud, waste and abuse in all parts of the commercial and governmental operations.
What is one habit that helps you be productive?
The one habit of mine that facilitates both my productivity and success is my tendency toward myopic, obsessive focus on an idea or problem until clarity and a path forward emerges.
What advice would you give your younger self?
There are several pearls of wisdom I would impart to my younger self. One would be that mistakes and failures are a blessing, in fact they are a good thing, so long as you learn from them; rather than letting them define you, use them to develop and improve. From there I would say always be you with confidence, do what makes you happy and maintain passion throughout your life. Lastly, I would say always keep learning.
Tell us something you believe almost nobody agrees with you on?
I believe that optimism is the only legitimate response to failure. Most will certainly not agree with me. The fact is that failure is woven into the fabric of success.
What is the one thing you repeatedly do and recommend everyone else do?
I would answer this question by saying that nothing can take the place of persistence. Talent can’t, as there are many unsuccessful people with talent. Genius also can’t, as there is lots of unrewarded genius in the world. Education can’t, as there are many educated derelicts. Persistence and determination are the foundation of success.
When you feel overwhelmed or unfocused, what do you do?
When I find myself overwhelmed, I try to focus on what I can control. I concentrate on the things I have power over and try to let go of the worries about things I can’t control. I try to prioritize things, breaking them down into more manageable components and delegating where I can. Importantly, I exercise frequently and focus on getting quality sleep, as both are great stress relievers.
What is one strategy that has helped you grow your business or advance in your career?
The most important strategy that has helped me succeed in numerous businesses is find the best person or people for the job and give them the latitude and authority to succeed.
What is one failure in your career, how did you overcome it, and what lessons did you take away from it?
My career is replete with many failures. One that I would highlight would be my failed investment in Maryland Magazine, a regional magazine I acquired many years ago that was subsequently sold for its basic intellectual property rights. The lesson I learned was don’t confuse a vanity project with sound business judgement. Every business has its unique challenges that require specialized knowledge and expertise.
What is one piece of software that helps you be productive? How do you use it?
Since I am basically a technology luddite, I would say good old Microsoft Word since it allows me to compose and send emails which are a fundamental means of communication for me.
Do you have a favorite book or podcast you’ve gotten a ton of value from and why?
I have recently finished the book Right Thing, Right Now by Ryan Holiday. It incorporates the same basis principles of stoic philosophy that populate his earlier works including The Obstacles Is the Way, Ego Is the Enemy and Stillness is the Key. They all promote a balanced approach to life using various historical figures as case studies to illustrate stoic virtues of courage, temperance and wisdom.
What’s a movie or series you recently enjoyed and why?
I have recently been watching the Righteous Gemstones with great delight. The way the show depicts the manifest hypocrisy in the sordid business of religion as practical by the Gemstone family is pure joy.
Key learnings
- Thoughtful contemplation, followed by rigorous due diligence and collaboration with trusted advisors, is central to successfully bringing ideas to life.
- Failure is viewed as an essential part of success, offering valuable lessons that contribute to personal and professional growth.
- Persistence and determination are seen as more critical to success than talent, genius, or education alone.
- Building a strong team and empowering them with trust and autonomy is a key strategy for scaling and sustaining business success.