Jim Keys, former CEO of 7-Eleven and Blockbuster, shares his rise from intern to CEO, reflecting on Blockbuster's decision-making with Netflix, emphasizing the need to adapt to change. He delves into his book 'Education is Freedom' and how his upbringing in poverty influenced his outlook.
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Full show notes at www.LearningLeader.com
Notes on my conversation with former CEO of 7-Eleven and Blockbuster, Jim Keyes:
- From adversity to the stars. Per ardua ad astra is a Latin phrase meaning "through adversity to the stars.” Adversity is your advantage. The tough moments you’re going through will help you be stronger long term. This is a useful mindset shift.
- "Adversity is an advantage."
- How did Jim get hired the first time and continually get promoted?
- He told the truth.
- He was unafraid to tell it like it really was. No fluffy language. He got right to it and let them know how he could help them.
- He focused on THEM, not him. They don’t care about why you think you deserve the job. They care about their company and if you’ll be able to help solve their problems. Focus on them, their issues, and how you can help them. That’s what Jim has done his entire career.
- The C-Suite Learnings
- What – Change, Confidence, Clarity
- How - Critical thinking (ask why), curiosity, and creativity (have fun)
- Why - Collaboration, Culture literacy (learn from others experiences), and character
- Jim became one of the youngest managers in this history of McDonald's.
- "The only one that likes change is a wet baby. Change is reality. Change equals opportunity."
- CEO = "Change Equals Opportunity."
- Confidence is all about preparation. The more you prepare, the more confident you'll be.
- Clarity and Simplicity. "The hardest thing in the world is to keep things simple."
- "True elegance is in simplicity."
- "I can't lead if you can't understand. So, it's up to me to keep things simple and clear."
- Nelson Mandela once said, “I never lose…I win, or I learn.”
- "There are three prerequisites to a successful business transformation in the face of change: cash management, confidence, and collaboration. Managing cash flow is, by far, the most important but maintaining sufficient cash requires confidence and collaboration."
