Alex Rodriguez says this is the key to his magnificent success

During a recent sit-down with CNBC Make It, former baseball player, businessman and philanthropist, Alex Rodriquez, cited fear as one of the most influential motivators behind his success. Here is what you can learn from his formula to help you in your career.

 “It was fear,” Rodriguez said during the interview. “For me, it was simple, it was fear. I did not want to be another unfortunate negative statistic of athletes and entertainers that get into financial issues once they retire.”

In a similar vein, Rodriquez said that the most meaningful deterrent against failure is keeping the right people around you. For the celebrated shortstop, these people include his mother, broadcaster Tim McCarver, Panthers owner Vinnie Viola, Madonna, and legendary investor Warren Buffett.

While reflecting on some of the negative outcomes from his past, Rodriquez partially blamed the entourage at the time.

“Most of them have been when I’ve surrounded myself with the wrong people. It’s like a magnet that takes you to the wrong place. I’m a firm believer that you’re an average of the five people that you surround yourself with the most.”

Buffet likely seems out of place being counted among Arod’s list of famous cohorts, but the two reportedly grew close after Rodriguez sent the tycoon a note thanking him for underwriting a 10-year, $252 million contract between him and the Texas Rangers.

Rodriquez says that Buffet taught him to never personally guarantee any debt and to never hold too much cash. These two pieces of advice have defined the retired baseball player’s ventures into business.

‘Go ahead, but you won’t need it. Number one: Be the best baseball player you can be. Number two: Always be a gentleman. Be the best guy you can be’,” Rodriguez continued. “That was simple, but it was so genius.”

Buffett recently told Vanity Fair that Rodriguez has a “money mind” and knows how to handle business “instinctively.”

Not long after securing contracts worth over $450 million during his time with major league baseball, Rodriquez launched the investment firm, A-Rod Corp.

The company has partnered with more than 40 companies (including Acorns, Vita Coco and telemedicine company Hims & Hers) and partnerships and is currently valued at over $1 billion.

In addition to adopting some of Buffet’s business acumen, Rodriquez makes an effort to emulate his mother’s drive and perseverance.

“My mother was a secretary in the morning and served tables at night. I saw a resilient, really powerful work ethic there. It inspired who I am as an adult,” he said of his parent.

Although grateful for his success, Rodriguez categorizes his road to it as an imperfect one. With an awareness of his shortcomings and blindspots, he relies on those close to him to avert lapses of judgment.

“So what I’ve done in learning from my mistakes is really to gravitate to the best people I could find that have not only an incredible set of skills but also have a moral compass that aligns with mine,” he said in the interview.