When You Learn THIS From Your Failures, You Become UNSTOPPABLE Feat. Garnet Morris

Garnet Morris built a hotel empire in his 20s, became a millionaire by 28, then lost everything by 40. He talks about what bankruptcy taught him and how he rebuilt across banking, real estate, and healthcare.
Questions this video answers
1954
1972
1972–1976
1975
28
Chapters
I was a hotel tycoon in my 20s, I was a millionaire by 28 and I was bankrupt at 40. And at one time I think I had 12 or 13 hotels, so I was a wizard buying them and had no idea how to run them. So every hotel I bought actually made me lose money faster. So I had to. I had to stand in front of a judge and go bankrupt and tell them all about my stupidity. So a little embarrassing. So I learned a lot about humility and I learned a lot about knowing what you're good at, because that's a tough one. So at 40, I'm back at zero. But I didn't make the same mistake the next time through. So I didn't do stuff that I wasn't good at. And I started to recognize when I was not good at something to stop doing it. I'm very, very aware of that in my life all of the time.
Originally hailing from the prairies of Saskatchewan, Garnett Morris graduated high school in 1972. To give context, I was born in 1968, embarking on a journey marked by entrepreneurship and financial acumen. His career began at the bank of Commerce where He worked from 1972 to 1976, gaining valuable experience in the banking sector. In 1975, Garnett ventured into business ownership by purchasing a hotel, showcasing his early entrepreneurial spirit. Two years later, he sold the hotel and transitioned into selling commercial real estate for six months before assuming the role of CEO at a credit union. With a specialty in commercial lending, Garnett spent the next five years leading the credit union to success. After his tenure at the credit union, Garnett returned to the hotel business for another five years, further honing his business management skills and industry expertise. By 1985, Garnett had entered the insurance industry where he excelled in sales and entrepreneurship and building on his success his successes, Garnett built and sold three insurance agencies of various sizes, demonstrating his ability to thrive in dynamic markets and create value through strategic business ventures. In 2020, Garnett founded a life insurance company in Barbados, a testament to his entrepreneurial drive and vision in the financial sector service sector. Alongside the venture, Garnett established Grasslands Finance Corp. Which has flourished under his leadership, offering innovative solutions and driving growth for its clients. Additionally, Garnett is the founder of Health Code Medical, a preeminent diagnostic medical clinic in North America. Health Code Medical stands as a testament to Garnett's commitment to innovation and excellence in health care. In addition to his role in finance, entrepreneurship and health care, Garnett is an active investor in 15 or more private entities through his family office. Leveraging his financial expertise and and strategic insights to support innovative ventures outside the world of entrepreneurship and finance, Garnett finds inspiration in advising marketing companies and exploring the latest trends in the industry. Garnett is also an avid philanthropist, donating to various charities that he's passionate about, including Genius Recovery. He's been huge in that. Thank you, sir. And so he's married with four children. Garnett cherishes family time and enjoys pursuing his avid car collecting hobby. And I'll let you guess what his favorite car is. So give it up for my friend Garnett Morris. What is up?
Just, you know, my EA wrote that.
Really?
That's not anything about.
Well, I'm going to ask you how. Which do you prefer? A side.
I'm left handed.
Here you go. If you want.
If you.
So basically, how would you describe what you do for a living? Because it's quite a. Or who you even are.
I told my kids I was a drug dealer because that just stops the conversation. Yeah, yeah, yeah, yeah, yeah. I mean I, I'm, I'm innately curious. I'm not a drug dealer. I've just made that up. And I'm, I'm actually introverted. It's not going to sound like that, but Joe threatened me. So I, I mean, I guess I'm really curious and I have a philosophy around my curiosity. So I'm a baby boomer. I was born in, in 1954. And we're all lemmings. So if you actually stand back, we all do the same shit just in a little different order. So I'm only doing what everybody else is either doing or thinking about doing. So I was in financial services, figured out how to eliminate estate tax for business owners in Canada. So we did great. Now we work in the U.S. we have other things, but everybody's starting to get old and run down. So I got a health clinic, but I wanted to have preventative health clinics. So I could not only fix what was broken, but I could catch what's starting to break. And so we made sure we're the best at it everywhere. So we don't always think we can fix it, but we're positive we can find it. Whether it's stage one cancer, whether it's. So everything is driven by my curiosity and then I'm lucky. So I guess that's kind of the.
The rest of it in money. Yes.
Yeah. Well, I, I mean I'm really. So I actually have a philosophy around money and that I've had ever since I got out of school. I. I always believe I can make more than I can spend. So I'm not. I'm not kidding. I mean, I wake up or think, well, whatever. So I have 22 Porsches. So I didn't. They didn't fall out of a tree. I didn't find a Porsche. I just could make more than it cost to buy 22 Porsches. Now I don't have time to drive them. So they're all sitting in a garage in the United States.
More from Joe

This FBI Trick Can Command Respect Without Saying a Word ft. JEFFERSON FISHER & CHRIS VOSS

How To Stand Out, Be Different, and Create Raving Fans, Customers, and Employees ft. Jesse Cole

90% Of Businesses Fail In Their First Year, Here's Why! ft. Dr. Benjamin Hard & Dr. Robert Cialdini

The 1 Piece of Business Advice I Got From Elon Musk That Changed Everything Ft. Kamal Ravikant

The 6 Traits You CAN'T Teach in Entrepreneurship ft. Richard Branson & Gino Wickman

The Leg Method: How to Make Your Book into a Million-Dollar Asset ft. Anna David

7 Millionaire Mindset Hacks for Daily Success and Wealth ft. Brian Tracy & Dan Sullivan



