Everything John Bragg said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Bragg: True entrepreneurs must work 70 hours a week, not 50
“That's the hours entrepreneurs have to work every week. Not 50, but 70, and entrepreneurs do work 70.”
Bragg Defends Using EBITDA Against Warren Buffett's Skepticism
“Warner said in the past he's not a believer in EBITDA, but we are. We think it's the cash that the business generates that, and so we're always saying, well, what's the multiple on EBITDA, and so we know what cash is coming, because You can usually cut back on…”
Replicating competitor products identically is easier than making better ones
“Our objective wasn't to make good onion rings. It was to make onion rings exactly the same as the competition, because then it's an easy sell. You don't have to have something unique, and that was not as easy as you would think, and we could make better tastin…”
John Bragg: Entrepreneurs must work 70 hours a week, not 50
“That's the hours entrepreneurs have to work every week. Not 50, but 70. And entrepreneurs do work 70.”
Bragg: Oxford will have more blueberry acreage than New Brunswick has in potatoes
“We're going to have more acres and blueberries than New Brunswick has in potatoes.”
Bragg: Nova Scotia and PEI alone restrict honeybee imports in North America
“So Nova Scotia and PEI are the only jurisdictions in North America that have restrictions.”
Bragg: Bell's massive spending on media programming has not worked out well
“They were paying a lot for this programming, and do you think Bell are happy that they spent a lot of money buying programming now? I don't think so. It really hasn't worked out well.”
Bragg refuses to grant company equity to non-family employees
“Family companies are great to work for, and we're going to pay you well, and you're going to feel very comfortable here, but there's no equity available, and too complicated with the finance structures if you start giving it away, and then if they want out, an…”
Bragg prefers high base pay over performance bonuses
“If I had my druthers, I'd rather Pay you a million dollars and just expect you to work hard than to pay you 500 with a 500 bonus. Incentives seem to be a way of life, but a lot of people will perform without, without incentives.”
Bragg: Long-Term Investors Should Buy Good Stocks Instead of Holding Massive Cash
“Having that money sit in cash, ah, I don't know, he's got a crystal ball that nobody else has. I'd be investing it in, in good stocks. Because if the stocks go down, it doesn't matter. But I guess he's waiting for the opportunity to buy them cheap.”
Bragg: Warren Buffett Is Anticipating a Major Market Correction
“He's creating cash, so he obviously anticipating quite a correction.”
Bragg generated the majority of his net worth after age 60
“Most of my real equity, the way you would measure it, Has come after 60.”
John Bragg: American business culture spends wealth while Canadians hide it
“I would say that the business community in the U.S. If they make ten million, they spend like they have a hundred, and Canadians make 10, they hide it. It seems to me the culture of the U.S. Is making money to spend it.”
John Bragg: Canadian tax policies are not bad
“Tax policies in Canada aren't bad.”
Bragg: Founders often fail by diversifying into unfamiliar industries after initial success
“The mistake many people make is, is they have a business, they make the first million dollars, and now they get into things they know nothing about in too big a way.”
Bragg: Investment portfolio accumulated $2 billion in equity late in life
“Well, we've just plugged away at it, and we've got a couple billion of equity or more now in, in the portfolio. All that came late in life.”
Bragg: Oxford processes half of the 300-million-pound wild blueberry industry
“When I started in the industry, the Wild Blue Ray industry was forty million pounds in total, and I hoped to do two of that. And today, the industry is over three hundred million, getting closer to four. And we do half of it.”
Bragg: Businesses historically operated almost fully levered to fund growth
“We haven't shied away from using debt, although today our balance sheets are in great shape, but through the years we've always been, what I would say, almost fully levered,”
Bragg: Eastlink is the largest private telecom company in North America
“I think it's the largest private, yes, by far.”
Bragg: Agricultural processors must make supplier farmers efficient to succeed
“We not only have to have our own farm sufficient, we need the farmers sufficient.”
Bragg: Companies fail when early success leads them to over-diversify
“So stick to your knitting, do what you can do, and do more of it, and try and grow it. Don't try and do everything. So many people fail by getting successful in one, and then think they can do everything.”
Bragg: High-Quality Manufacturing Costs Less Due to Lower Shrinkage and Waste
“Top quality doesn't necessarily cost, in fact, quite often, it's cheaper, because you have less product on the floor, and, Less shrinkage, and you're doing it all right, and the end product becomes better.”
Bragg: Wild Blueberries Contain Double the Antioxidants of Cultivated Blueberries
“First of all, the health benefits, the antioxidants are double in wild blueberries. The flavor is much better.”
Bragg: European Blueberry Producers Cannot Compete and Are Disappearing
“We have, like, jam manufacturers that one of the biggest in the world is Andros in France, and they'll only use European blueberries, which are a different species again, or our wild blueberries. And Europeans can't compete with us because they're still a cott…”