{"id":52591,"date":"2021-11-09T14:44:25","date_gmt":"2021-11-09T22:44:25","guid":{"rendered":"https:\/\/www.downtownworks.com\/?p=52591"},"modified":"2021-11-09T14:50:19","modified_gmt":"2021-11-09T22:50:19","slug":"the-art-of-race-car-driving-and-business","status":"publish","type":"post","link":"https:\/\/downtownworks.presstigers.dev\/the-art-of-race-car-driving-and-business\/","title":{"rendered":"The Art of Race Car Driving and Business \u2013 Post Pandemic"},"content":{"rendered":"\t\t
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The Art of Race Car Driving and Business \u2013 Post Pandemic<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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As Seen on Medium.com \u2013 Downtown Works Guest Blog<\/b><\/a><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\"Edward\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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What do race car driving and business have in common?<\/b>\u00a0<\/p>

A lot says Edward Adato<\/a>, Partner at Downtown Works, WL Investments<\/a>, and Performance Wealth Investments<\/a>. Entrepreneurship and race car driving both require taking calculated risks, a lot of luck, and a good pit crew for support says Adato. Over 35 years he has built a successful career by embracing risk, working hard, and helping to create spaces for teams to build, collaborate, and thrive.<\/p>

We interviewed Adato to see what he thinks are the keys to success when driving cars and running a business.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Adato grew up in Los Angeles, dropped out of college to travel, and spent a year in a kibbutz in Israel until being called on to help run the family leather business in Mexico that was experiencing some challenges. Adato soon realized their customers were shifting to importing cheaper goods from China and recognized the need to pivot \u2013 fast. He started an online electronics business, growing the startup from $0 to $2M in only a few years. He then founded WL Investments<\/a>, a real estate building and management business with properties in the US & Mexico, where he remains today as a partner, though he has also expanded to other roles.<\/p>

Adato is also portfolio administrator for PWI<\/a>, a four-family partnership, with 20+ properties in Mexico and the US totaling over 400,000sf, that also offers construction management and state-of-the-art software and tenant, vendor, and owner portals for management and reporting. And he is co-founder of Downtown Works<\/a>, building on PWI\u2019s desire to create hospitality-inspired, tech-rich work environments that are flexible and provide all the amenities teams need to succeed \u2013 such as collaborative and inspiring spaces, a video\/podcast studio, work\/life balance classes such as yoga, an open kitchen for a community feel, outdoor workstations, and more.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Leaders Listen<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\"Downtown\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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Adato says true leadership and success comes with the ability to first listen to others\u2019 ideas and opinions objectively without the impulse to \u201cbe right\u201d or hold out for complete agreement. \u201cWe may not always agree, and I don\u2019t have to take your suggestion. But if I don\u2019t listen, I might miss something that could make all the difference to my success as a leader. If we listen and respect each other\u2019s position, we might just find the best possible solutions to challenges \u2013 big and small.\u201d<\/p>

\u00a0<\/p>

\u201cIn racing, for me, it\u2019s the same situation.\u00a0 I listen to all the risks and opportunities that could lead to winning. Listening is the first strategy, not pressing the pedal to the floor,\u201d says Adato.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Be Open to Mentoring<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Adato says the best way to learn anything is to observe successful people and ask questions. \u201cYou might hear feedback and advice you don\u2019t agree with, but a mentor who has had success and has no financial stake in your business other than wanting you to succeed is invaluable.\u00a0 Seek out a mentor you respect and trust. It might be the best thing you do for your career,\u201d says Adato. \u201cJust as I do with looking to other successful people in business, when it comes to my favorite pastime of racing, I\u2019ll take driving advice from any senior racecar drivers. If they have won many races and are still standing, that\u2019s someone you want to coach you.\u201d<\/p>

Adato gives back by mentoring and guiding entrepreneurs at Downtown Works, helping them to form thriving enterprises that take their idea to market, and support communities and families. \u201cWe make a real effort to support early-stage businesses, even hosting StartUp Week<\/a> and networking events to help entrepreneurs make valuable connections to further their ventures,\u201d says Adato about Downtown Works. \u201cWe personally mentor startups, make introductions to investors and offer services to accountants, attorneys, banks, and other professionals we trust to help them. The idea is they come here in their early days, and then they go. We see them off like our kids. And it\u2019s nice to see them succeed.\u201d<\/p>

He encourages other successful businesspeople to mentor younger generations as often as they can. \u201cWe have an obligation to help the generation behind us, just as the generation before us lifted us up.\u201d<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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You're Tougher Than You Think<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Adato says he has seen people bounce back from the hardest of times to realize their goals and entrepreneurial dreams. The key, he said, is to realize that you and the people around you are capable of getting up quickly from any setbacks. It\u2019s important to trust that you can weather hard times to be successful.<\/p>

\u201cCovid taught us that we are all more resilient than we think,\u201d he says \u201cIt\u2019s been a tough time for all of us \u2013 especially service-based businesses or startups building a new concept and needing feedback to innovate and develop truly novel solutions. Many struggled this past year without interaction with their teams. And now they are getting back to work without missing a beat as things open up. It\u2019s really great to see the resiliency of these teams. That\u2019s what entrepreneurism takes \u2013 never giving up, and the confidence to know your situation today can be different tomorrow.\u201d<\/p>

Adato says it\u2019s a good thing that people are finally getting back to the office with the vaccine rollout and people feeling safer. \u201cI feel strongly that people need human interaction to do their best work,\u201d he says. \u201cEach person brings a different perspective; there is nothing better than collaboration like that to grow an idea, a business. There\u2019s definitely reasons to have a home office, but in-person collaboration \u2013 at least a few days a week \u2013 is really powerful.\u201d<\/p>

He says that\u2019s the reason they created the Flex+ program<\/a> at Downtown Works.<\/p>

\u201cFlex+ offers rotating office space for individuals and automated reservations for an almost limitless number of company employees to rotate at one or more private offices at a fraction of the cost of commercial office rental<\/a>. This helps young companies to afford an office where they can meet and collaborate in a tech-rich environment,\u201d he says. \u201cSome employees work from home, while others meet at Downtown Works and use a meeting room for brainstorming or a remote presentation where they interact and present together.\u201d<\/p>

Adato says, \u201cI like to take risks, but discounting the ability of collaboration to find the absolute best solution isn\u2019t a risk I\u2019m willing to take. In racing or business.\u201d<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The Art of Race Car Driving and Business \u2013 Post Pandemic…<\/p>\n","protected":false},"author":1,"featured_media":52592,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[31,28,42,83,10],"tags":[],"table_tags":[],"yoast_head":"\nThe Art of Race Car Driving and Business \u2013 Post Pandemic<\/title>\n<meta name=\"description\" content=\"Entrepreneurship and race car driving both require taking calculated risks, a lot of luck, and a good pit crew for support. How? 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