In this podcast episode, Locality CEO Keith Costello sits down with South Florida’s own entrepreneurial legend, Alan B. Levan, Chairman of BBX Capital. Alan shares an incredible journey that spans from his early days in his family’s pest control business to becoming a real estate mogul and a transformative figure in the banking industry.
Alan’s story is one of resilience, strategic foresight, and an unwavering commitment to integrity. Below, we’ve highlighted five compelling quotes from the conversation that encapsulate the wisdom and experiences he shared.
#1 Recognizing When to Step Back
Alan discussed the importance of intuition and knowing when to reassess your path, especially when everything seems to be going well.
“Sometimes when things are too good, you just have to step back and try to figure out why that is.”
In the early 1970s, Alan was raising $10 million a month for real estate investments. Sensing that the market was overheating, he made the bold decision to stop raising money. This move protected his business from the impending recession that caught many others off guard.
#2 Assessing Downside Risks in Business
When it comes to business strategy, Alan emphasizes focusing on potential obstacles rather than just the rewards.
Alan believes that while hard work and integrity can lead to unlimited upside, it’s crucial to identify and mitigate risks that could impede progress. This philosophy has guided him through multiple economic cycles and business ventures.
#3 Innovation and Customer Service in Banking
Alan revolutionized the banking industry by introducing seven-day banking, prioritizing customer convenience over traditional banking hours.
Alan compared seven-day banking to having a fancy gym in an apartment building:
“When somebody asks, ‘Where do you live?’ you might say, ‘I live in that building with the great gym. It’s got all the modern equipment, mirrors on the walls, everything.’ Then they ask, ‘Do you use it?’ And you say, ‘Well, not yet. But it’s there when I’m ready.”
#4 Overcoming Adversity and Staying Optimistic
Throughout his life, Alan has faced personal and professional challenges, including a harrowing kidnapping ordeal involving his wife and daughter. His ability to remain positive and forward-thinking has been a cornerstone of his success.
“I just have had the ability to just assess the situation and move on. And I’m optimistic.”
Alan’s resilience is a testament to his character. Instead of dwelling on setbacks, he focuses on solutions and the opportunities that lie ahead.
#5 The Importance of Giving Back
Personal tragedies led Alan and his late wife, Susie, to deepen their commitment to philanthropy and community service.
Alan stresses that contributing to the community not only helps others but also brings meaning and purpose to one’s own life. His extensive involvement in various charitable initiatives reflects this belief.
Connect with Alan
- BBX Capital: Learn more about Alan’s current ventures at bbxcapital.com.
- Alan’s Book: For those interested in delving deeper into Alan’s experiences and insights, he has authored a book titled “Seeing Around Corners: Powerful Lessons of Perseverance, Grit, and Luck.”
- 👉 Learn more about Alan’s book here.
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