“Good afternoon. Please, come in,” a soft, welcoming voice said from behind an oversized, ornate swinging door as it slowly opened, revealing a large entryway leading to a grand, winding staircase in the center, set just past an impressive foyer hosting four large paintings, the works of two famous artists.
As the door closed, it sent a startling thud that echoed well past the tall hall and throughout the big city townhouse while simultaneously silencing the hectic street noise roaring outside. “Sorry about that. I tend to forget just how loud that is. You’d think it would be top of mind, but at my age, little things can easily get away.”
“Oh, no need to apologize, Sir.”
“Sir? You say that word so seriously. I appreciate the respect, but it’s not necessary. I prefer J.C. It’s more my speed. That is, if it’s okay with you. I don’t want you to feel uncomfortable. Casual is my personal preference – it’s far more conducive to establishing rapport, wouldn’t you agree?”
“Yes, yes, I suppose.”
“Now, my young friend, what’s your name? Or, more particularly, what do you prefer I call you?”
“Toby.”
“Short for Tobias?”
“Yeah, yes, it is. How did you know? Most people…”
“Got lucky. That, and I had a good friend in college with the same name…I even see a resemblance.”
“Funny, he told me you’d say that.”
“Who?”
“My dad – Tobias Jansen Sr.”
“So, you’re Toby’s son, eh?”
“Yes, Sir. Yes, I am…uh J.C.”
“What else did he tell you, my eager young friend?”
“He said…he said…you’d open the door.”
“Well, yes. I can certainly open my own door.”
“Dad told me you were a hands-on type of personality.”
“And that’s it?”
“Oh no. Of course not.”
“I haven’t spoken to him in at least, what? Five, maybe seven years?”
“Yeah, about seven. He sends his best, of course.”
“Go on, Toby!”
Pulling his phone out of his pocket. The young man, who had just celebrated his twenty-eighth birthday, tapped on a notes app. “Sorry, I’m a bit nervous. I knew I would be, so I made sure to take some things down.”
“Did I see the word ‘butler’ young Toby?”
“Oh, yeah. About that…”
“Manny. Good guy. I suppose he’s about the house somewhere – probably busy reorganizing this or that. He’s one of those neat freaks. And, I don’t mean someone who’s just tidy. I like things clean and in their place. But, he takes it to a whole other level.”
“Must be a time-consuming job. This is such a big place!”
“Don’t get the wrong impression – I don’t need all of this space. Frankly, it’s for my wife, our children, and grandchildren… makes them feel like big shots when they have people over!” J.C. jested as he chuckled.
“But, you had to put in a lot of hard work to earn this. Aren’t you proud of what you’ve accomplished?”
“Sure I am, young man – sure I am. I guess what I’m saying is this is all just for show. It’s too bad too many of the wrong people are impressed by it. Now, let’s go into the study. Or, would you prefer to go up on the balcony?”
“Either is fine with me. Wherever you feel comfortable.”
“That would be the kitchen table. With a big chilled glass of cold milk and a small serving plate of chocolate chip cookies!”
“Homemade?”
“From scratch, my good boy! From scratch!”
This was not only Toby’s first real interview, it was the biggest anyone at his publication had ever done. He knew J.C. would make the father connection and so did the young journalist’s employer, which is why he was chosen. The reporter also knew this and although he felt a little resentment about clearly being used to gain access to an otherwise publicity-shy individual who did not normally grant interviews, he understood this was an opportunity he simply could not pass up.
Now, standing in a larger-than-life kitchen, with the highest of high-end appliances, fancy cooking accouterments, and every possible utensil, he fully expected his host to call for Manny the butler or an in-house chef. But, much to his surprise, his host pulled a baking sheet from a cabinet and then retrieved a pair of oven mitts.
“There, behind you, young man, go into the pantry and fetch me a bag of all-purpose flour, some salt, baking soda, and chocolate chips. Oh yeah, a bottle of vanilla extract, too. I’ll grab the eggs and butter out of the refrigerator!”
Stunned by the request, it took the rookie journalist a moment to realize his host was going to make the cookies from scratch. Then, it struck him. This was the genuine article. A man who loved to do things himself, particularly the little things, like baking a fresh batch of homemade cookies.
Even though his father told him what to expect from the businessman, Toby didn’t believe much of it, thinking it was some type of practical joke. After all, that was his dad’s personality, which now made sense as to why his father and this wildly successful entrepreneur got along so well when they were in college.
“Seems like you know your way around the kitchen, Mr. Carter!”
“J.C., please.”
“Oh yeah…J.C.”
“Well, I’ve always found cooking therapeutic, if you will. Let’s say there’s a problem. Some folks go for a walk in the park. Others like to work out, you know, exercise. But I’ve learned I can come up with a solution while I’m whipping up dinner, lunch, or what have you. Speaking of which, where are my manners? It’s close to noon, have you had lunch yet, young fella?”
“Oh no. I’ll just…I’ll just grab something quick after the interview.”
“Like a hearty breakfast, do you?”
“Sure. Although this morning it was just half a bagel and a little coffee.”
“What?! You must be quite hungry! Here, let’s put together the cookies and I’ll fix some lunch for us. What do you say? How about a French Dip sandwich with some real au jus sauce?”
“Thank you, J.C., but I don’t want you to go through any extra trouble. The cookies are just fine.”
“Now, Toby, my boy, don’t cookies taste all the better after a hearty meal? Of course they do! So, go ahead and grab two hoagie rolls and a can of beef consommé out of the pantry. I’ll pull some roast beef and provolone out of the refrigerator. We’ll have a proper lunch while we talk!”
Toby nodded and smiled, then retrieved the requested items from the pantry, placing them on the kitchen countertop. Meanwhile, J.C. cheerfully took the meat and cheese out of the refrigerator and set the oven to preheat at 350 degrees.
“J.C., thank you so much for your hospitality. I really appreciate it. Can I ask you a few questions?”
“Oh, sure, go right ahead, young man.”
“All right. So you grew up in a small town.”
“Yes. Small enough that everyone knew everyone. Not a lot of secrets kept – if you know what I mean.”
“And, your parents, they were immigrants? Well, sort of. So they moved down from Canada. But, the generation before that was Dutch and Welsh – they were born in the old countries, came across the ocean and that’s where my parents were born.”
“As I understand it, your mother was an equestrian and your father, he was brought up in the Vaudeville theater tradition.”
“Yes, one of the last bastions of the entertainment industry.”
“So, neither of your parents had any business experience?”
“No, that’s not accurate. Now, would you please hand me that bread knife over there? I’ll get these hoagie rolls prepped.”
“Yeah, sure thing. Here you go!”
“What I mean – about the business experience – is they did have some…just not in the way that you think. So, not in the traditional, suit and tie, corner office manner. But, they had to earn a living in their respective careers. My mom, she uh, she uh, ran her own stable. Meanwhile, my dad, he didn’t have an agent – had to do all the stuff involved with that himself.”
“I see, good point. Wow! That beef consommé sure smells good, J.C.!”
“Thanks, my young friend. Can you take a can of cooking spray out of the pantry and let’s spritz these baking sheets? Also, we’re going to need aluminum foil, too.”
“Sure thing. Hey, let’s move on, here. Okay, so you grew up in a small town. What was your first job?”
“You probably wouldn’t believe the answer, Toby.”
“I’m guessing it was something like a newspaper route?”
“Close, but no cigar. Actually, it was my own business. You know, raking leaves, mowing lawns, painting fences, stuff like that. Please, take a measuring cup out of that cabinet and fill it with one cup of water.”
“So, you did chores for your neighbors and they paid you for your help?”
“That’s basically it. Thanks for the water. I don’t like to add too much, thins out the consommé too much. So, I usually hold back a wee bit – makes the broth richer.”
“Richer is fine with me, J.C.!”
“How about this roast beef? Are these slices too thin?”
“No, not at all! So, did you make much money from your childhood handyman business?”
“Earn…you mean…did I earn much money?”
“Sorry. Did you earn any money?”
“Oh sure, I did. And, so did my friends, young man.”
“Your friends. J.C.?”
“Yes, my friends. Mmm. I love that aroma…roast beef smells good, doesn’t it?”
“Definitely! What’s next?”
“Well, let’s go ahead and put the roast beef on those hoagie rolls, top it off with some provolone, and slide those babies into the oven. While that’s heating up, we’ll cut up the dough and get the cookies ready – they can bake while we enjoy our sandwiches!”
“Sounds good to me!”
“Now, about my friends. Since I had cash on me when we would pal around together, I was quite popular. But, I wasn’t all that generous way back then. Though, I did splurge occasionally. Anyway, my friends asked me how I managed to talk my parents into giving me more money than a kid’s average allowance. When I informed them not a dime came from my mom and dad, they naturally wanted to know where I got it. So, I saw an opportunity. I recruited them to help me. In no time at all, we had a small workforce and I was running the whole show!”
“Mr. Johnathan Carter, a young entrepreneur!”
“Indeed. That’s where I got my start in business. Speaking of which, let’s get started on these beautiful sandwiches! Say, what would you like to drink? We have plenty of choices! Soda, lemonade, tea, coffee, what’s your pleasure?”
“Thanks, J.C., lemonade is fine with me!”
“Freshly squeezed! There you go! I love this myself. Manny makes one fine pitcher of this tart nectar!”
“You mean to tell me, other people cook around here, J.C.?”
“Oh sure! Manny grows the lemons himself. He’s got a special way of raising them. What do you think?”
“Wow! That is tart, but it’s got a hint of sweetness, too! So, then, what did young J.C. do after he mobilized this workforce?”
“Let’s see, what came next? Oh, yes, yes. I bought a lawn mower. Big mistake, that was, young Toby!”
“Why is that?”
“Well. My thinking was that if I had my own mower, I could expand my business. And, to some extent, it did. But, what I didn’t think about was the carry costs – if you will. You see, one day I was going from lawn to lawn when I realized I was running low on gas. I had to ask the neighbor – whose lawn I was mowing – to take me to the nearest station to fill up. He just said, ‘Well, why don’t you just fill it up with what’s in your gas can?’ I must have had a stupid look on my face because I didn’t buy a can, just the mower. He had a good laugh then he took me up to the closest station. When I finished filling up the tank on the mower, he asked me if I needed to go to the hardware store. I asked him, ‘Why would I need to go to the hardware store?’ And he replied, ‘Don’t you need new filters?’ That’s when it hit me. This machine – that I had to lug all around the neighborhood – needed routine maintenance. That’s why I realized it would have been better to simply borrow my neighbors’ lawnmowers, trim their lawns with their own machines, and avoid extra expenses.”
“So, what you’re saying is that by using your neighbors’ mowers, you’d benefit in two key ways – not having to push your own around the block and not having to pay for maintenance?”
“That pretty much sums it up. Plus, I could get my ‘crew’ of neighborhood kids to span out and bring in more paying chores. The strategy worked like a charm! How about a refill of your lemonade?”
“Please! Thank you so much. After that enterprise, what was your next business, J.C.?”
“There you go, Toby, a nice fresh refill. As for the next thing, I believe it was a toy.”
“A toy?”
“Yeah. I can’t remember the name of the darn thing. But, it was a toy. I’d built up a nice savings from my handyman business over three summers with my friends. I don’t recall how I got the news, though I distinctly remember my first thought, ‘I’ve got to buy as many of those things as I can!’ And, with the help of my dad, that’s precisely what I did.”
“Your dad was an investor in your idea?”
“Well, since he traveled as an entertainer, it gave him the ability to snatch up a bunch of these toys. We did all of this about two, almost three months before Christmas. How about a little more au jus sauce?”
“Yes, I’ll take a little more, thanks!”
“No problem, my young man. Anyway, we bought up dozens and dozens of these things. When the supply dried up at all these different retailers, we sold all of them for a ten percent markup to panicked parents who couldn’t find them anywhere. It was like a windfall to me, still being so young. That informed me going forward to the next season.”
“So, you did the same thing again, J.C.?”
“At least twice more over the next four or five years. Now, let’s get those cookies out of the oven and let them cool for a little while.”
“They smell absolutely delicious! Do you remember what came next?”
“Uh-huh. You see, when I started doing chores for the neighbors, I was in middle school. By the time I wandered into the toy resell hustle, I was in high school, which means I was driving. And, so were most of my friends, who began to date. Dating, as you know, costs money. The confluence of events meant I could expand my handyman business to other neighborhoods. Before I knew it, I had over twenty classmates working for me.”
“Wow! That’s quite a story, J.C.! After you graduated high school, did you go to college?”
“I did. But, I didn’t stay very long. In fact, I didn’t even get through the first set of classes.”
“You dropped out of college?”
“I did, my young friend. But, it was during that time I met your father. We were in a business class together.”
“Yeah, my dad told me.”
“I suppose he told you what happened?”
“No, actually, he didn’t.”
“All right, let’s get a couple of chilled glasses of milk and have some of those fresh-baked cookies, young man!”
“Thank you! Mmm! These are delicious!”
“Not bad at all, if I do say so myself. Well, let me fill you in. Your dad can corroborate this entire account. We were in this business class and when the professor started going over the course, I was following along, and something he said struck me. It was about how to structure an organization and it gave me an idea.”
“What was your idea, J.C.?”
“I started to think, if I owned a house, I’d need things done from time to time. That, of course, was obviously validated by my own experience in getting paid to do this, that, and the other for my neighbors.”
“Sure…that…that makes sense.”
“Anyway, your dad and I started talking after class and we really hit it off. But, I’m getting a bit off track. Fast forward to halfway through the term, and I realized, I wasn’t really getting anything out of college. Your dad, he had a hole burning in his pocket from…”
“From his grandmother. Yeah, I know. She passed away and left money for all her grandkids.”
“That’s right! Well, there was this one house just around the corner from my neighborhood – it had been empty for months on end. I scraped together as much cash as I could, and your dad pitched in that little bit of inheritance money he got so we could buy the house. It was a seventy-thirty deal. I put all the sweat equity into it, got it back into shape, and we rented it out.”
“So, my dad’s story is true!”
“Oh, yeah, young Toby, it’s true! Please, have another cookie.”
“Thank you, but I’m full.”
“No problem, I’ll just wrap up the rest and you can take them home.”
“Thank you, but shouldn’t you keep them for your grandkids?”
“They get enough sugar. Besides, I’m sure we’ll be baking more. Anyway, I’ll tell you what happened next while I wrap these up for you. We rented out the house and everything was going pretty well. I left college before the end of my first term because I knew I wanted to get deeper into real estate investing. Your dad and I stayed partners for about a year. By that time, I’d earned enough money to buy him out of the rental property.”
“He said you gave him a sweet bonus, J.C.”
“That’s correct. It was good business and I really liked your dad, Toby. As I recall, he used the money to buy a car and pay for college.”
“Uh-huh.”
“Well, I held onto that property, and by the time another year went by, my neighborhood kid chores business and grown substantially. I had crews of teens and college students doing all kinds of stuff all over town. So, I bought another house and paid it off as quickly as I could. Then, about six or eight months later, I bought a duplex.”
“All right, if I’m following you correctly, you owned three houses by this point?”
“Yes. But, I didn’t own my own house. Instead, I shared an apartment with another friend who worked for me. One afternoon, I came across this tiny two-bed, two-bath home… it needed work…a lot of work. But, it was a steal. So I put in a lowball offer and it was accepted. Four months later, I was living there. My former roommate went to an out-of-state college, and that ended that chapter.”
“What did you do next, J.C.?”
“Let’s see. By that time, my handyman business had turned into a full-fledged landscaping operation. I also had a crew that did home repairs and remodeling. Say, I don’t suppose you’d like to smoke a cigar?”
“Oh, no thank you. Those things make me turn green.”
“I’d like one. Let’s go onto the balcony for a bit, Toby.”
“All right, lead the way!”
Toby followed J.C. into his office, where the businessman opened a humidor and pulled out a cigar. Then, they made their way through the townhome, up the stairs, and out onto the balcony, where they sat under a pergola covered in vines.
“What a beautiful view!”
“Thank you, I love it. It’s where I come to enjoy a quiet evening. Now, where were we? Oh yes, the next chapter. I bought four more houses in the following years and then, I heard that a local strip mall was about to go up for sale. It had been losing tenants and the property didn’t age well. I did a little research and spoke with different folks, contractors, accountants, lawyers, and whatnot. I figured if I sold off a few of my rental houses, I could buy it, tear it all down, and convert it to a multi-family residential.”
“Your first apartment building?”
“Sort of. Eight ground-floor units, with space to easily double that. Little did I know at the time it wouldn’t be my last.”
“I just have to ask. You’re not known for landscaping and those kinds of home services. So, what happened to those businesses, J.C?”
“Good question. I held onto those operations for a little while longer. Actually, I kept taking on more territory and it became regional – over three counties. Then, I got an offer out of the blue for the whole thing, the whole kit and kaboodle!”
“Wow! Sounds like it was too big to turn down.”
“Without a doubt, my young friend, without a doubt. You know, some people say it’s not about getting into business at the right time, it’s more about knowing when to get out.”
“I think I’ve heard that philosophy before, J.C. But it sounds a lot more worthwhile coming from you. Then what happened?”
“Well, here I was, flush with all this cash and I didn’t have a plan. All I could do was follow my instinct. And, my gut told me to go with another real estate deal. This time, I did the opposite of the last big deal. A county over, there was this run-down multi-family housing development and it was a real blight on the surrounding area. Although, it was in a prime location. After doing a bit of homework, I knew this could be something valuable.”
“How did this go down?”
“Basically, I lined up a big retail anchor name and then got preliminary commitments from no fewer than six others. They were definitely smaller but made the whole thing viable.”
“So, I guess it worked out, then?”
“Oh yeah. It did at that, my young friend, it did at that. When it was all sewn up, I had half a dozen established brands moving in. As I said before, it was in a great location – just what was needed in the immediate area.”
“Do you still own that property, J.C.?”
“No, I don’t own it any longer. The anchor retailer bought it up. I have to say, it was a pretty shrewd move on their part. They saw the traffic, ran the numbers, and that was more than enough to convince them to make me an offer I couldn’t refuse. I’m not certain, but I believe they saved a whole lot by acquiring it when they did. Otherwise, it would have been a lot more expensive.”
“You know, I just realized, I haven’t asked you, when did you buy this place?”
“Just about five years ago. It wasn’t in very good condition. I had quite a bit of it renovated.”
“So, after you sold that residential property you converted to commercial, what did you do next?”
“Same again. I traded up. But this time, I got into mixed-use.”
“Oh, I know that one, well. I lived there up until about a year ago.”
“So, you moved out, Toby?”
“Yeah, I did.”
“May I ask why?”
“Sure, J.C., I got married and moved in with my fiancée. Well, my wife. We were engaged for nineteen months and married last year.”
“Well, congratulations!”
“Thank you!”
“How’s it going?”
“Great! She just finished her degree.”
“What was her major?”
“Health. She got her master’s and once she passes her boards and does her preceptorship, she’ll be an ARNP.”
“So, a nurse practitioner! That’s great, Toby!”
“Yeah. I’m really proud of her!”
“Good to hear! I think it’s wonderful to see a young couple taking charge of their future.”
“Speaking of the future, I hope you don’t find this off-putting, but is it true that you’re going to give away most of your fortune? Mostly to children’s charities?”
“Nah. I don’t mind you asking. Yes, it’s true. My wife and I have decided it’s the right thing to do. Practically everything we’re gifting will go to some of the best children’s charities.”
“And, why is that, J.C.?”
“Have you ever wanted something really badly? I mean, like when you were a kid and you begged and pleaded with your parents to get you this one thing?”
“Oh yeah. I was nine.”
“Tell me, Toby, do you still have it?”
“Oh, no. Gosh, no. In fact, I don’t even remember what happened to it.”
“All right. Do you remember how much it cost your parents?”
“Not really, I just knew it was expensive- certainly nothing I could afford – even if I saved up all my allowance for a long, long time.”
“Is it something you’re still interested in?”
“I’d have to say, no, J.C.”
“Now, what about your college degree?”
“It’s hanging on a wall in my home office.”
“I see. Do you mind if I ask you a personal question, young man?”
“No. Go ahead.”
“Do you have a student loan?”
“Unfortunately, yes. Yes, I do. I’m reminded of it every single month.”
“Hmmm. I suppose you would feel that way. But, do you regret going to college?”
“Oh, not at all. I’m terrible with math, so I didn’t have a future as an engineer, architect, or accountant. And, I worked in a law office when I was in college, and man, I did not enjoy that job whatsoever. But, it was a good learning experience.”
“So, the thing you wanted more than anything as a kid – you have no idea what it actually cost and don’t even know what happened to it, but I’m guessing you know exactly how much you’re on the hook for your student loan?”
“To the penny, J.C.”
“Well, now you know why my wife and I are giving away most of our wealth. It’s not that we don’t love our kids, you see. In fact, it’s because we love them so much that we’re giving most of our estate away. Think about it for a moment. The thing you didn’t earn, you didn’t pay for, it’s a distant memory. But, you had to earn your college degree, and you had to pay for it.”
“Does that mean your kids are on their own?”
“Oh, not at all. They’ll all receive a nice inheritance. But, as you might guess, it won’t come without conditions.”
“That makes sense.”
“Yes, it does, Toby, yes it does. Now, is there anything else you’d like to know?”
“I do have one more question. What’s your business philosophy? What’s your strategy? I mean, how is it that you’ve achieved so much? I think it could be very valuable to a whole lot of people.”
“Sure thing. You hear the phrase ‘dream big’ a lot, but I never really did that. Sure, I had lofty aspirations, but I discovered very early on the road to success is to dream small. Setting ambitious but realistic, incremental goals has served me very well. So, I don’t tell folks to ‘dream big,’ instead, I tell them, ‘dream small.’”
“Wow! That’s very down-to-earth.”
“What’s great about it is that anyone, and I mean anyone, can do it. People tend to get overwhelmed or discouraged when they think in too big of terms. It’s like that old adage about eating an elephant one bite at a time when taking on a larger-than-life problem. Well, the same holds true for big dreams. Break it down, and it suddenly doesn’t seem insurmountable.”
“Sounds quite reasonable. I wonder why this advice isn’t given nearly as much as the whole ‘dream big’ idea?”
“Because it sounds grand. It’s inspirational. But, in the end, it isn’t entirely practical. Sure, it’s a pretty good motivator. Still, it’s hard to keep that emotion going – particularly when there are setbacks. Little wins not only feel good, but they also provide a sense of accomplishment. What’s more, they are completely attainable. It doesn’t set people up for disappointment, which experienced enough is demoralizing.”
“Yeah, it’s simple…it’s uh, it’s uh…sensible.”
“Now you know how I did it – that’s been my attitude.”
“Thank you, J.C. Thank you so much for your time! I’ll just let myself out.”
“Hold on, young fellow. I’ll walk you out. Besides, the stairs are good exercise. Plus, I need to get going myself. I’ve got a meeting downtime in a little while.”
“Thanks again. It’s been an honor to spend some time with you.”
“Here, before you go, Toby, give me a moment. I’ve got something for you and your wife.”
“What’s this? A phone number?”
“Yep. Go ahead and add that number to your contacts. You’ll receive a call tomorrow.”
“A phone call?”
“Yep.”
“Okay. From who?”
“A good friend of mine. Someone who owes me a favor.”
“I don’t understand.”
“He’ll be calling to set things up.”
“Set what up, J.C.?”
“A gift. A belated wedding gift. I’m going to take care of your wife’s preceptorship. She’ll be working with the best of the best. If she can deliver, she’ll be off to a very fulfilling, very lucrative career. And, it will help start your new life together as a couple on a strong foot.”
