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Jim Keyes: The Secret to Every Company's Success or Failure - Not ads or flashy tech
Manage episode 407316295 series 3559456
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James (Jim) Keyes is a business and social change agent and the Senior Consultant at Back to Space, which promotes STEM education and enrichment. He previously served as the CEO of 7-Eleven and Blockbuster and created a strategic consumer product in collaboration with Walmart. Passionate about aerospace and aviation, Jim has been a pilot for 40 years and is involved in new tech initiatives, including the Hyperspace startup through Lockheed Martin.
As a seasoned board member, he continues to serve on the board of organizations like Rithem, the Dallas Symphony Association, and Education is Freedom, a nationally recognized college, career, and life readiness provider he founded. James is also the author of Education is Freedom, which outlines the importance of education for all.
In this episode…Blockbuster’s demise caused a national uproar. Many people assumed the company’s bankruptcy arose from a failure to keep up with competitors like Netflix, which had adopted streaming services. However, Blockbuster’s collapse stemmed from poor cash flow management during the 2008 recession. How can entrepreneurs persevere through financial hardships?
Having grown up in poverty, progressed to the CEO of two Fortune 500 companies, and managed debt and an economic crisis, adaptable entrepreneur James (Jim) Keyes has seen it all. Entrepreneurs and company executives often don’t recognize that debt occurs in many forms, including failing to return money borrowed from banks and investors and violating credit terms from suppliers. Jim recommends managing cash flow thoroughly and establishing emergency funds to afford interest rate increases. Additionally, education creates business opportunities, so by investing in your education, you’re more likely to raise money for your startup.
Welcome back to the latest episode of What The Teck? as Rolando Rosas and Dave Kelly host James (Jim) Keyes, the former CEO of Blockbuster and 7-Eleven, who shares his experience managing Fortune 500 brands. Jim explains how he gained strength through adversity, the inner workings of the investment market, and how his father influenced his career.
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