In this episode, Fred Crosetto traces his journey from a scrappy American kid in Asia to chairman of the AMMEX Group, a growing $300M conglomerate. Fred explains how early pivoting during the AIDS crisis, relentless direct-sales hustle, and spin-outs in China and the Philippines unlocked tremendous growth. You’ll learn why ruthless prioritization beats “shiny object syndrome,” and how to empower next-generation leadership teams. He closes with rapid-fire takes on his favorite books, daily routines, and his mantra: “Start—and never give up.”
Show Notes
[00:00] Teaser
Fred explains why he could’ve sold at any time—but chose to “evolve out” and keep running AMMEX Group.
[00:48] Intro
Scott welcomes Fred Crosetto, founder & chairman of AMMEX Group.
[02:03] Episode Framing
Why focus, delegation, and resilience define entrepreneurial success.
[02:11] Meet Fred Crosetto
Seattle native, UW alum, founded AMMEX in 1988—$300M+ revenue across North America, China & SE Asia.
[03:38] Entrepreneurial Origins
At 22, Fred reads Megatrends by John Naisbitt and moves to Taiwan.
[04:45] Early Crisis & Turnaround
A disastrous launch amid the AIDS awakening teaches pivoting and perseverance.
[06:16] First $1 M Milestone
Block-and-tackle selling: cold calls, mailings, and personal hustle.
[07:05] Core Philosophy
“Make your strengths productive and your weaknesses irrelevant.”
[08:24] Scaling Beyond Solo Founder
Building a finance, tech & ops A-team around his sales superpower.
[11:09] Embracing Uncertainty
Cycling through seven banks in 12 years; volatility as fertile ground.
[14:34] Meeting Verne Harnish
Early mentorship from Verne Harnish, Mastering Business Dynamics, leads to implementing the Scaling Up framework.
[15:11] Focus & Prioritization
The five-priority habit: why saying “no” drives exponential wins.
[19:46] Platform Moment
Shared-services spin-outs in China & the Philippines; empowering independent GMs.
[22:44] Evolve Out
Identifying, empowering, then stepping aside for next-gen leaders.
[27:01] Future Spin-Out: AI Services
Leveraging in-house AI experiments into a standalone business.
[29:34] Leadership Transition Lessons
Ensuring clarity, candor, and autonomy when new leaders take the reins.
[31:36] Quick Fire (Entrepreneur Hacks)
- [31:52] Scott: “What’s one book every entrepreneur should read?”
- Fred: “AI Driven Leadership by Jeff Woods”—plus classics like Scaling Up, Good to Great, Great by Choice, Shoe Dog, and The AI Factor.
- [33:14] Scott: “What’s one thing you do every morning?”
- Fred: “No ritual—just get up and go.”
- [33:43] Scott: “What’s one tool you can’t live without?”
- Fred: “My iPhone—I panic if I leave it behind.”
- [34:53] Scott: “What’s a daily grounding habit?”
- Fred: “Evening dog walks with my wife, Kristien—a moment to disconnect and reflect.”
- [35:28] Scott: “What’s the best piece of business advice you’ve ever received?”
- Fred: “Make your strengths productive and your weaknesses irrelevant.”
- [37:32] Scott: “If you could restart AMMEX from scratch, which lesson would you bring?”
- Fred: “Start—and never give up. Plans always take twice as long and cost twice as much, but persistence wins.”
[38:17] Final Lesson
Persistence through chaos: expect plans to take twice as long and cost twice as much.
[39:48] Outro
Scott wraps with upcoming guests and a reminder: entrepreneurship is disciplined action.
Shout Outs (People)
🔹 Verne Harnish – Mentor and Scaling Up architect who reshaped Fred’s focus practice
🔹 EO Forum peers (Entrepreneurs’ Organization) – For the candid exit-plan roasting that sparked Fred’s platform epiphany
Books Mentioned
• Megatrends by John Naisbitt
• AI Driven Leadership by Jeff Woods
• The AI Factor by Astra Saxinas
• Scaling Up by Verne Harnish
• Good to Great by Jim Collins
• Great by Choice by Jim Collins
• Shoe Dog by Phil Knight
