THE STORY OF DAVID HOFFMANN
CHAIRMAN OF
HOFFMANN FAMILY OF COMPANIES
2022 JANUARY QUARTERLY ISSUE
Written by Terri Fisher
Where do true entrepreneurs come from? Are they born rich? Are they given every opportunity in life? This morning I met an amazing man and his wife of 50 years, David and Jerri Hoffmann. Their story, from humble beginnings to owning one of the biggest companies in America started like this:
David and Jerri grew up in rural Missouri where they met in high school and subsequently raised 3 children and 12 grandchildren. Mr. Hoffmann grew up in a loving family that did not have very much. They did not even have hot water! Mrs. Hoffmann was also poor and came from a loving family. Both were and are very happy and very humble. Mr. Hoffmann pursued a football scholarship at the University of Central Missouri, obtaining his Bachelor of Science and Mrs. Hoffmann pursued a career in education, graduating from Central Missouri State with a B.S. in Education, teaching high school Spanish and English.
The story of the Hoffmann’s is one of very hard work, dedication and respect for people. Their vision is one of longevity, not to buy and flip, and add value to the communities they love and their people.
Osprey Capital, LLC was formed by David shortly after he founded DHR International, the largest private executive search firm in the world, as a way to invest the excess cash DHR produced. Since that time, Osprey has grown into one of the largest private family offices in the world with diversified assets in executive search, real estate, oil distribution, insurance, public market investment, aviation, wine making and restaurants. Through its operating businesses under the Hoffmann Family of Companies Brand, they have expanded to over 21 countries and 240+ locations across the globe.
In real estate, they are accredited with reviving and growing the “main street” of many cities including Naples, Florida where I live. Expansion into the Florida market began with the purchase of 7 properties and a parking lot in 2015 for approximately $75M. What started with just 4 employees and a few buildings has grown to over 2,500 employees, 36 properties and 37 operating businesses in Florida, primarily in the hospitality sector including the massive Hertz Arena, and the ECHL Florida Everblades Hockey Team. Worldwide the Hoffmann Family of Companies employs over 6,000 people. They strongly believe in its diversification strategy by including companies within different sectors such as agriculture, winemaking, golf, aviation, transportation, manufacturing and distribution and has seized opportunities to expand its restaurants and wines nationally with a proven track record, even in the down economy.
The Hoffmann’s believe in the communities and people they invest in. The growing “family” of companies and employees share a communal feeling of inclusion, teamwork and fulfillment. From the top on down, when you join this company, you truly do feel as if you’ve been added to a growing and caring family.
So how does a humble, poor man from a tiny farm town in Missouri grow to be one of the most successful and richest men in the U.S.? He gave the large group, there to hear him speak, a few pointers on how he did it and most importantly how YOU can do it too.
David worked really, really hard. I know this sounds like a cliché, but this man at 70+ had so much energy, it was contagious. He started thinking and working most days before the sun came up. He had dreams and he was a visionary. He told us it was all about the journey and passion, not the money (although he and his wife admitted the money was a nice side benefit!) He told us to always be resilient and flexible. Life and business do not always go as planned. You must be able to change the course as needed to be successful. His two most important messages on what will make you successful as an entrepreneur, were:
- Empower people. Trust their judgement and when they do something wrong, continue to support them.
- Do more due diligence, and more, and more… when dealing in acquisitions or in anything that involves you using your own money. Do this BEFORE you sign on the bottom line. You must know what is coming around the corner, or next month, or next year, as much as you possibly can.
- His advice for younger people or people re-starting their careers: Think about what you love to do and then do it!
- Dream big and take risks!
- Be happy no matter what!
David also talked about “What a great country America is!” “We can do anything we want to do here.” It truly is a land of opportunity and we should all think about how to “live the dream” which so many other countries cannot do. Never take this for granted.
When asked about what he sees as some of the biggest challenges companies face today, he replied “technology changes”. For example, electric cars. We probably will all have electric cars within the next 5 years. Plus autonomous-driving cars. What does all this mean for parking lots? The trucking industry? Limousine and taxi services? Plus so much more. At the very least it means huge capital expenditures. How can technology disrupt your business? Think carefully about this. It may mean the difference between success and failure.
David also talked at length about the seismic shifts in how Americans look at “work”. There is a shortage of talent from entry level to the C-suite. All levels are looking for people. Are there any opportunities for you based on this?
When asked about what David would do differently in his life if he could have a do-over, he said he would cherish his personal relationships and friendships more, which he did not always have enough time to do. He would “be a better friend”.
I wonder how much having an intelligent, loyal wife for 50 years at his side, both personally and in business, meant to his successes? I’ll bet she was an integral part of growing this company. As her husband said, “Happy Wife, Happy Life.”
Much thanks to the NEXTGEN Speaker Series for bringing this amazing man to Naples. The Speaker Series was established in 2013 in Naples, Florida to encourage Leadership, Mentorship, Empowerment and Philanthropy. To date, Benson Blackburn has hosted 23 NextGen Speaker Series events with over 4000+ attendees.
Logo and photo from Hoffmann Family of Companies Directory, 2021 Edition
