In his book, Education is Freedom, author
James W. Keyes recaps his learned business lessons for top management and CEOs at companies of all sizes. He covers:
- Discovering what customers truly care about. It’s
convenience, not products. - Leading during times of turmoil.
- Developing the confidence to try again after a failure, and
to maintain composure in the face of critical media coverage. - Forming strategic collaborations to rescue a dying company.
Plus, Keyes states that Education Is Freedom provides
the “what,” “why,” and “how” of learning. He outlines the importance of
education for all humankind and the power of education to
change our world.
Because of his lifelong commitment to
education, Keyes founded the Education is Freedom Foundation, which
provides college scholarships for hard-working young students. In over 20
years since its inception, the foundation has helped nearly hundreds of thousands of students
find their path to higher education.
Keyes also served as chairman and chief
executive officer of Blockbuster, Inc., from 2007 to 2011. And in his book, he
shares much about his time at Blockbuster and that company’s journey, including this important insight in response to my question to him:
Question: Fair or not, “Don’t become another Blockbuster”
is often a phrase used to warn business leaders to not let their business
become obsolete or to not miss an opportunity to change their business model.
What do you want business leaders to know about why that phrase may be unfair
or why Blockbuster’s journey is misunderstood?
Keyes: Fair…but
for all of the wrong reasons. Most people leap to the conclusion that Netflix
killed Blockbuster…or that the company’s inability to change caused its demise.
Both are incorrect. Within the Blockbuster story is a rich set of lessons for
every businessperson but it has nothing to do with the change to streaming
technology.
The
real story of Blockbuster is a story of the importance of cash flow and balance
sheet management during times of macro financial disruption.
“You’ll find…in Education is Freedom…personal anecdotes from my own journey,
and the experiences of friends and those throughout history who have
successfully used education to change their own life and to enrich the lives of
others,” shares Keyes.
“The book is not a memoir, but instead intended to
provide examples from my life journey to show what is possible even with
seemingly impossible odds. It is intended to inspire others to accomplish the
impossible and to use education as their path to freedom.”
Keyes calls his “C-Suite Learning” as the heart
of his book and a valuable road map to help readers form a path to his/her own
learning journey. The C-Suite Learning is:
What to Learn
- Change: embracing change and growing from adversity.
- Confidence: the inner strength that makes us believe
in ourselves. - Clarity: making the complex simple through
communication.
How to Learn
- Critical Thinking: the algebra of thought.
- Curiosity: discovering the joy of wonder.
- Creativity: enabling our inner child; this is
intelligence at play.
Why We Learn
- Collaboration: leveraging the power of others working
together. - Cultural Literacy: growing from the richness of
diversity around us. - Character: establishing trust in ourselves and
integrity among all.
One of the key takeaways from the book for me is where
Keyes explains that companies must find ways to have everyone embrace open and
honest communication. He states that building a culture of success also requires:
- Engagement –
Team members must be in or out. Even those on the sidelines for any given play
must be engaged, at least mentally if not physically. The team must be fully
vested in collective success. - Communication
– from the top, from the bottom, and from peer to peer—is fundamental to the
collective success of the team. Team members must feel comfortable
communicating openly. They must feel safe expressing their ideas and trusting
each other to fulfill their respective roles.
“Information sharing and the proactive dissemination
of knowledge among the team will contribute to the culture of mutual benefit.
This environment will reward competency and the open sharing of best practices.
These behaviors result in a culture that those on the outside can see and feel.
They will notice a group, a company, and a team, that can accomplish any task,”
explains Keyes.
Thank you to the book’s publisher for sending me an
advance copy of the book.
