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Ep 65A Successful Businessman Shares his Playbook on How to Give Back
1:01

Tzedaka · 1:01

He gave exactly 10%, struggled for years, then got rich. Here's what he told the Rav.

Bentzion Heitner

Ep 65Jan 17, 2024

A Successful Businessman Shares his Playbook on How to Give Back

with Bentzion Heitner

Hashem doesn't want from you what you can't do. He wants you to do what you can with what you're given.

Bentzion Heitner

More moments · 5

0:36
Do you want to eat well or sleep well? Read this before you quit your job to start a business.
0:46
'I'll write the check, but leave me out of it.' His response left them not speaking.
0:40
It's not successes that define successful people, it's how they handle failure
0:48
Every business budgets for theft. Why should charity be different?
0:34
In a casino you hear the bells of winners, never the silence of losers

Try this · top 3

Quotes

“It's not successes which define successful people, but it's really how you handle failures.”

Bentzion Heitner

“Success is not like a ... XY graph with a line going at 45°. It's like a random walk.”

Bentzion Heitner

“Do you want to eat well or sleep well?”

Bentzion Heitner (the first question on becoming an entrepreneur vs. staying an employee)

“You hear the bells ringing of people making money all the time but what you don't hear is the silence of people losing money.”

Bentzion Heitner (on casinos, and on business success stories)

“If you can't meet the pledge call up. Don't ignore people.”

Bentzion Heitner

“Making a difference is being part of the Clal, joining in and doing what you can according to your financial ability.”

Bentzion Heitner

“We're not created here to be comfortable.”

Bentzion Heitner

“Don't do as I say, do as I do and learn by example.”

Bentzion Heitner (on teaching children to give)

“It's not a vending machine.”

Bentzion Heitner (on expecting giving to pay back in money)

Takeaways

  1. 1 He built Cambridge Mercantile, a foreign exchange company with offices around the world, and sold it in 2017 after a nearly two-year sale process. The sale price became public because the buyer was a public company.
  2. 2 His first business, in the garment industry, failed. He moved on without losing sleep.
  3. 3 Being your own boss isn't full control: you report to clients and banks instead, and it's hard to switch off on Shabbos.
  4. 4 He says his giving started with hiring Jewish employees and Jewish tradesmen, and with the example his father set by giving and lending.
  5. 5 After the sale 'the amount of zeros after the checks changed', but his approach didn't: his responsibility just grew.
  6. 6 Building gifts are easy to give because you can see them; upkeep is harder to fund but just as important.
  7. 7 He calls the pressure from some collectors a personal test. For example, collectors who bring up last year's amount only when he gives less.
  8. 8 Thoughtful thanks matter more than expensive gifts: a handwritten letter from Rabbi Hochman of Long Beach Yeshiva the morning after an event moved him.
  9. 9 He sees campaign marketing and dinners as a cost of doing business that brings people together and makes small gifts count.
  10. 10 Hashem pays back, but giving is not a vending machine: don't give expecting a set return.

Full episode

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