Lessons from Robert F. Smith

Robert F. Smith, the founder, chairman, and CEO of Vista Equity Partners, is not only a titan in the world of finance but also a prominent philanthropist and an influential voice on entrepreneurship, racial equity, and personal development.

On Business and Entrepreneurship

On the nature of entrepreneurial success: "The usual scenario is that successful entrepreneurs spend endless hours, days, years toiling away for little time, little pay, and zero glamour. And in all honesty, that's where the joy of success actually resides." [1]
On the importance of expertise: "The most important thing you can do as a young person is to become an expert. There is no substitute for becoming the best at your craft.” [2]
On the power of intellectual property: "This is the first time in history you can create wealth and not have access to capital. You just need intellectual property. A blogger who has a large audience can create wealth by attracting advertisers." [3][4]
On the value of software: "I learned early on in my career as a engineer the power of enterprise software which is what we focus on it has been the most productive tool in our business economy over the last 50 years." [5]
On taking calculated risks: "I didn't want to be ordinary. I wanted to create something that had not been done on this planet." [6]
On identifying market shifts: "Where vast wealth is being created is with private companies in software technology. It's where investment banking was 30 years ago." [6]
On competitive advantage: "You need to figure out...how it is that you can create a unique sustainable advantage in the market that you participate in." [7]
On the reality of work-life balance in high achievement: "Our world isn't designed for spectacular success and a balanced life." [6]
On creating your own opportunities: "I started Vista because I knew no private equity firm would hire me. I saw what they were looking for… So I created my own firm." [2]
On the resilience of enterprise software: "But one of the most resilient in these environments it has become enterprise software mission-critical business critical all industries rely on it all companies rely on it and in fact when you have challenges with labor you have challenges with with with with trading environments people lean in to software." [5]
On the future of technology: "Certain companies will become agentic. Certain companies will I'll call become genai enabled in their customers. Others will not have a right to exist because they will not have adopted." [5]
On the importance of a strong team: "Each of you people should have a skilled lawyer a skilled accountant that you have cultivated a long-term relationship with even at a young age that you can rely on who can help give you some perspective about things you should do or not do as you think about moving forward in your task as an entrepreneur." [7]
On understanding the value of capital: "I started to understand through that experience and through reading the difference between labor and capital now America is built on capitalism and I was a good laborer in the capitalist system...but the value of labor was very different than value that was placed on capital." [8]
On embracing change: "To distinguish yourself today, you have to run toward change, not away from it." [9]
On the power of vision and action: "Have the vision of what you want to become, but you have to put consistent action behind that vision in order for that to manifest." [3][4]

On Philanthropy and Giving Back

On the purpose of philanthropy: "If you can, liberate a human spirit through providing education, providing an opportunity, providing in many cases a pathway to a way that they can support their family or their community." [10]
On his commitment to giving: "I am privileged to join the Giving Pledge with a commitment to invest half my net worth — during my lifetime — to causes that support equality of opportunity for African Americans, as well as causes that cultivate ecological protection to ensure a livable planet for future generations." [10]
On paying it forward: "On behalf of the eight generations of my family that have been in this country, we're going to put a little fuel in your bus. This is my class, 2019. And my family is making a grant to eliminate their student loans." [11]
On the importance of community support: "We have to do something for our community." [3]
On the inspiration for his philanthropy: "The whole inspiration really comes from an ideological position around how do you liberate the human spirit." [9]
On the role of corporations in social change: Smith has discussed "The 2% Solution," highlighting the potential for corporations to create significant systemic change by dedicating a small portion of their resources. [12]
On empowering communities: "Bold leadership means giving back to your community so that others can achieve their full potential." [13]
On preserving Black history and culture: Smith is the founding director of the Fund II Foundation, which is dedicated to preserving the African American experience. [10][11]
On investing in women entrepreneurs: "I can only imagine what they would have been able to accomplish if they had capital and resources...they were held back by the dual shackles of race racial and gender discrimination." [14]
On the goal of his philanthropic efforts: "Ultimately, Smith hopes to teach younger generations about the importance of giving back through his philanthropic efforts. He also aspires others to step forward and become community leaders and philanthropists who will help make the world a better place for all." [13]

On Success, Mindset, and Personal Growth

On the power of grit: "You got to have grit. And grit mean getting turned away from thing 14, 16 times, calling someone every two weeks, every day for five months and then finally it materializing in something that you want." [4]
On embracing the process: "Greatness is born out of the grind. So embrace the grind." [15]
On learning from failure: "With the process of discovery, you fail a lot. And you learn a great deal from those failures, so the next time you can avoid those mistakes." [3][4]
On taking action: "Put action to support the intention, don't say 'I want to be a millionaire' but don't take the activities to do it." [3][4]
On self-belief: "You are enough to be who you want to be and to create what you want to create." [3]
On setting goals: "Every day I need you to set a new goal." [3]
On self-reliance: "If you get too much help you never really figure out how to do things and you don't develop the grit." [3]
On overcoming challenges: "Fight through those problems." [3]
On the importance of early problem-solving skills: "If you can't solve easy problems now, you will not be able to solve difficult problems later." [3]
On using all your attributes: "Smith believes that you should use all your gifts–even those that you don't readily recognize as such. For example, his discovery of diminished hearing in one of his ears forced him heighten his other senses, trust his intuition, and become even more focused and detail oriented in his business dealings." [6]
On facing adversity: "You have to learn how to fight." [6]
On the importance of habits: "The importance of habits... that dog in you comes from habits you got to build those habits you got to get up every day you got to do the lift you got to ask the extra 10 questions you got to be there early you got to go into environments where you may not be welcome and get the information and the knowledge." [16]
On courage: "Take the risks you are here cuz you're willing to take risks. understand you've got the heritage. you've got the knowledge. you need the habits. and the courage take the risk take the risk." [16]
On self-creation: "Life is not about finding yourself; it is about creating yourself. You have to take chances to make your dreams reality." [17]
On time management: "How do you spend your time?" [3]

On Life and Legacy

On integrating your skills and passions: "You have the instinct to serve, and the skills to succeed. In fact, you have skills across a number of areas. Don't separate these skills; integrate them. The future will be written by those who integrate their whole being." [3][4]
On inspiring the next generation: "I am showing the current generations of African Americans they can do it, too. So the next generation can go even higher." [3]
On the power of storytelling: "The good news is, we follow people that look like us if the story is told the right way." [3]
On the impact of technology on communication: "With got these devices (the Internet) that you can tell a billion people your story in a matter of minutes." [3]
On the importance of education: "As the son of educators, equal access to quality education has always been a core tenet of my life." [10]
On racial equality: "What does it profit a man to be able to eat at an integrated lunch counter if he doesn't earn enough money to buy a hamburger and a cup of coffee." [14]
On preserving history: "Landmarks and historical sites help preserve our collective history and create opportunities to connect with those who came before us." [13]
On finding your purpose: "Be thoughtful and conscious about what is your highest and best use." [2]
On the joy of discovery: "I got hooked on technology… The excitement of figuring a complex problem out creates a eureka moment. It's one of the best moments in life." [3][4]
On living a life of purpose: "Use your skills, your knowledge, your instincts to serve – to go change the world in the way that only you can." [3][4]

Learn more:

Lessons from Robert F. Smith

On Business and Entrepreneurship

On Philanthropy and Giving Back

On Success, Mindset, and Personal Growth

On Life and Legacy

Written by Antoine Buteau

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