#227: Ken Bacon, Cofounder and Managing Partner at RailField Partners – Trust is a form of currency

How Leaders Lead with David Novak

David Novak Leadership

Entrepreneurship, Business, Management

4.8 • 596 Ratings

🗓️ 20 February 2025

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

One of your most valuable currencies isn’t money, talent, or even time. It’s trust. See how it can power better partnerships and more opportunities in this episode with Ken Bacon, Cofounder and Managing Partner at Railfield Partners and former Executive VP at Fannie Mae. If you want to see how to build trust, extend it wisely, and see it return to you, then hit play now! You’ll also learn: A negotiation strategy you probably haven’t heard before Two qualities of leaders who make good decisions Why your assumptions might be endangering your business The one thing no one tells you about success Take your learning further. Get proven leadership advice from these (free!) resources: The How Leaders Lead App: A vast library of 90-second leadership lessons to stay sharp on the go Daily Insight Emails: One small (but powerful!) leadership principle to focus on each day Whichever you choose, you can be sure you’ll get the trusted leadership advice you need to advance your career, develop your team, and grow your business.

Transcript

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0:00.0	And I always say they're trading relationships, but then they're a real partner relationships.
0:04.6	A trading relationship is just very transactional.
0:07.0	You really don't know the other person's just a trade.
0:10.2	But a real relationship, a partnership is that we know each other.
0:14.5	Yeah, we got contracts.
0:15.7	We have agreements.
0:17.6	But we trust each other.
0:27.6	Thank you. but we trust each other. If you want to build lasting success, there's one resource you can't afford to overlook, and it's
0:33.7	not money, it's not talent, and it's not time.
0:37.9	Welcome to How Leaders Lead.
0:40.3	I'm David Novak, and every week I have conversations with the best leaders in the world
0:45.0	to help you become the best leader that you can be.
0:48.3	My guest is Ken Bacon.
0:49.8	He's the co-founder and managing partner at Railfield Partners, a multifamily investment and asset management
0:56.0	firm, and before that, he was an executive VP at Fannie Mae. Ken has built an incredible career in
1:03.3	real estate, and I've had the pleasure of seeing his leadership firsthand as we serve together on the
1:08.7	Comcast board. You know, one of the things that makes Ken so successful is this understanding that
1:14.5	trust isn't just a feel-good concept.
1:17.1	It's a real form of currency.
1:19.6	It's something you earn, something you give, and if you're not careful, something that you
1:25.1	can actually lose.
1:27.2	And just like financial capital, trust compounds
	...

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