Thursday, June 05, 2008

Junior Achievement Banquet

I spoke at a Junior Achievement Awards banquet last night. I always love the enthusiasm of youth. I love that many of them want to start businesses. Their fears in starting a business are that other companies are bigger, more established and have more resources.

My fear as a larger business is exactly the opposite. We have resources and are well established but this means we are not as nimble as we need to be. It means things can cost more than they should. Overheads can be higher. The battle for larger business is to try to act small.

Established companies can also struggle with change. We all fondly remember the good old days. It is good to have memories but success means we need to change. What worked yesterday will likely not work tomorrow.

I am a business optimist. There are always opportunities for all businesses at all times - regardless of the size.

The challenge a larger business has is it takes a much larger opportunity to make an impact. I even suggested that any of the students could easily start a computer distribution company tomorrow. They could sign 10 lines that sell $3-500,000 per year each and have a nice business. It is tough for a company the size of SYNNEX to sign a line that small.

And the quote for the day:

"Egotism is the anesthetic that dulls the pain of stupidity"
---Frank Leahy

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