Learn, read, and be inspired by those around you in order to find the next great idea.
Robert Davis of RD Heritage Group was born in Farmington Hills, Michigan. Proficiently academic with a penchant for mathematics throughout his education, Robert studied at the University of Michigan, receiving an undergraduate degree as the top 3rd in his class. At the University of Miami School of Medicine, Davis studied to become a practicing MD then Internal Medicine residency training at the University of Nevada, Las Vegas School of Medicine. There, Dr. Robert Davis spent 10 years as an ER and Ambulatory Care Physician as well as a locum tenens physician for rural communities across the country. At this point, Dr. Robert Davis of RD Heritage Group received a unique opportunity and, seeing a greater need for his skills beyond medicine, made a career shift into investments and strategic partnerships.
For over 25 years, Dr. Robert Davis has contributed to the fields of Medical Technology, Oil & Gas, Pharmaceuticals, Artificial Intelligence, and beyond. With RD Heritage Group, Dr. Davis focuses his business as a hands-on investor, providing resources in fundraising, marketing, and international trade primarily within the private sector. As co-founder RD Heritage Group, Dr. Davis keeps the company’s headquarters in Las Vegas, Nevada where he has resided for 17 years.
Where did the idea for RD Heritage Group come from?
After a few years in the industry, a partnership formed sometime around 2008 between several privately held family offices and me. The intention behind the formation of the group was to make investments where the group could make a significant impact and in as many different industries that their experience and background corresponded with.
What does your typical day look like and how do you make it productive?
Every day starts as early as possible, sometimes even at 4am to have a conference call with partners in Asia or Europe and could end as late as 8pm to meet with partners flying into Las Vegas for a dinner meeting. Team members of RD Heritage are constantly looking for opportunities to invest capital or partner with other family offices in order to help the overall business group. Meanwhile, I am in close and constant communication with my investment partners, focusing on the growth management of established relationships.
How do you bring ideas to life?
The team at RD Heritage meet on a regular basis to brainstorm using an open-dialogue approach. The ideas from the team are then brought to the outside managing partner, John Dean Harper, for further input as an alternate perspective before moving forward. Inspired by the principles of Ray Dalio as discussed in his book, Life and Work Principles, the concepts of “Radical Transparency” serve as a conduit which turns ideas into a plan which then leads to execution, thus making the office a “powerhouse” of continuous learning and hard work.
What’s one trend that excites you?
With a portfolio of diverse and innovative industries, RD heritage is built on a foundation that focuses on the most outstanding trends of today with the potential to operate on a global scale. The merging of technology and agriculture proves to be the most impactful in the lives of individual people across the world. Also, the listed industries that RD Heritage Group focuses its investments towards constantly emerge with new developments to reach and help more people involved. The contribution towards ethical industries is what essentially fuels the growth of RD Heritage Group and perpetuates the principles that I have built the company on.
What is one habit of yours that makes you more productive as an entrepreneur?
I have always kept a fully detailed calendar since my experience as a medical doctor beginning with a ledger-sized day planner which has now turned into a digital calendar app synced across all my devices. It’s kept full of meetings, calls, and appointments. Ensuring my daily life is fully stacked gives me a sense of self-accountability and a great deal of motivation which I live by.
What advice would you give your younger self?
To this day, I strongly believe that I am always learning and therefore will claim to know nothing. I would, however, tell my younger self to believe in his dream and above all, be relentless in the pursuit of that dream.
Tell us something that’s true that almost nobody agrees with you on.
Because we provide such a hands-on approach to our investments in diverse although only certain industries, RD Heritage Group sets itself apart as a unique opportunity for partners looking to raise capital or establish themselves in a global economy. With the resources and database to reach global markets, this is a truly unique opportunity. It is easy to misconceive such a one-of-a-kind deal in an age where it is believed that everything has already been done!
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
The single best tool for learning is reading. I read as much as I can, whether it’s periodicals on the economy and global market or books by role models like Ray Dalio and Grant Cardone, I am learning as much as I can from the ideas and experiences of those that have achieved success or can shed light on the current needs of the industries we work closely with by providing a unique insight with their alternate perspective.
What is one strategy that has helped you grow your business?
This again goes back to the principles of a willingness to learn but also includes a willingness to make mistakes. Always have an open mind but be willing to adapt and shift quickly. Only then can the doors of opportunity open while allowing you to find the right one for you through your mistakes.
What is one failure you had as an entrepreneur, and how did you overcome it?
Being an entrepreneur is like building a house for the first time without a manual. I really had to learn as I went, especially with the service we provide in the special industries we focus in. In combination with the philosophy of open-mindedness, there were a lot of mistakes to be made. There was one which became very financially costly and it got to a point where we made the decision to cut ties on the best interest of the company. The important lesson was although we go into every partnership with trust and openness, it’s crucial to know who exactly you’re dealing with, do the diligence, and who the real decision maker is –deal only with them directly.
What is one business idea that you’re willing to give away to our readers?
Wow, this is a tough one to answer without giving away valuable information! But suffice it to say, the best idea for business is one that understands the value of information over the simple value of a commodity.
What is the best $100 you recently spent? What and why?
I gave a parking lot security guard a $100 bill to keep a close eye on my car one night. The next day he thanked me and told me what a big impact that made on his life in a time when he really needed that money.
What is one piece of software or a web service that helps you be productive?
The calendar app (it’s Google Calendar in case you were wondering) is so reliable, thorough and efficient. With it I can synchronize across my devices, send invites and reminders, and maximize my productivity as the leader my team can rely on in the company.
What is the one book that you recommend our community should read and why?
Without a doubt, Life and Work Principles by Ray Dalio goes into detail about some of the beliefs that RD Heritage Group was built and operates on. His explanations on “Radical Transparency” in particular are a great guide and the experience he’s shared continues to inspire myself and my team.
What is your favorite quote?
“Do good, have fun, make money” is my own simple mantra I’ve based my life and business on from day one.
• Be willing to take risks by embracing the idea of “Radical” open-mindedness which will always open doors of opportunity that lead to the fulfillment of your full potential in ways you may not have anticipated
• Learn, read, and be inspired by those around you in order to find the next great idea.
• The best investment is in people and in yourself.
Steve (Stefan) Junge hails from Germany and helps with the day-to-day publishing of interviews on IdeaMensch. While he and Mario don’t share a favorite soccer club, their enthusiasm to help entrepreneurs is a shared passion.