[10.22] The Power of Education and Overcoming Adversity

• Education is the key to success in every aspect of life, and it is emphasized as the “power of education.”
• The speaker, Jim, shares his personal journey of overcoming the odds to achieve success.
• Growing up in a small town with limited resources, Jim defied expectations by leading a Fortune 500 company.
• He attributes his success to the opportunities the American public education system provides.
• Jim believes that continuous learning empowers individuals to achieve anything they desire.
• The conversation highlights the importance of public education, especially in the context of global access.
• Jim points out that advancements like Starlink are bringing educational opportunities to remote areas.
• The speaker expresses hope that education will reach unprecedented levels globally in the future.

[22.01] The Role of Adversity and Values in American Business

• Adversity is portrayed as the greatest teacher, shaping the lives of successful American business leaders.
• Jim discusses how his humble beginnings and challenges fueled his drive to succeed.
• He emphasizes the importance of bringing humanity and personal experiences into corporate culture.
• The discussion touches on the misconception of CEOs and corporations, highlighting their potential to give back.
• Jim describes how many CEOs, like himself, feel a responsibility to help others achieve success.
• The conversation explores the idea that shareholder value and public good can coexist and benefit each other.
• Jim shares examples of companies like Tom’s Shoes and Newman’s Own that built success on giving back.
• He argues that businesses can achieve both financial returns and positive social impact, creating an “ecosystem of good.”

[34.01] Unlocking Opportunities through Education 

• Jim Keyes, former CEO of 7-Eleven, shares his mission to create a pipeline of future employees through education.
• He recognized the high costs associated with recruiting, training, and retaining employees.
• Jim sought to reduce turnover and build loyalty by investing in education for potential employees.
• The program aimed to guide young people through the education system, offering them a clear career path.
• Graduates of the program were offered store manager positions with attractive salaries, often doubling their parents’ income.
• This strategy saved the company millions and provided life-changing opportunities for employees.
• Jim emphasizes that the approach is simple arithmetic: measuring costs and benefits to make smart business decisions.
• He highlights the importance of perspective over perception, encouraging others to see the broader impact of their actions.
• Jim’s approach demonstrates how aligning business goals with educational opportunities can create lasting, positive change.

[39.22] Embracing Change and Building Confidence

• Commerce is driven by change; it’s essential to recognize this dynamic.
• Resistance to change is a natural human response due to fear and insecurity.
• Confidence stems from acknowledging human weaknesses and taking control of your response to change.
• No one else is responsible for your challenges; your response is what I think is important.
• The key to overcoming obstacles lies in learning and adapting to the situation.
• Confidence involves believing that you can learn your way out of any problem.
• Embrace the process of learning as a path to developing resilience.
• Internalizing and leveraging knowledge leads to greater self-assurance in navigating change.

[50.41] The Power of Critical Thinking in Business Success

• Critical thinking involves taking action, measuring results, and refining the approach for continuous improvement.
• This process leads to ongoing enhancement in individual, company, and societal progress.
• 7-Eleven Japan’s success with fresh food sales inspired a shift in the U.S. operations.
• By adopting Japan’s decision-making process and technology, 7-Eleven in the U.S. reversed a decade of declining sales.
• The U.S. stores saw nearly 40 quarters of consecutive sales increases through this approach.
• Critical thinking brought about positive results for the “triple bottom line,” including profit and societal impact.
• Post-war Japan’s embrace of education and American business philosophies led to significant national recovery.
• Figures like Peter Drucker became highly respected in Japan for helping businesses find their greater purpose.

James W. Keyes is a global business leader, best selling author, philanthropist, artist, musician, commercial pilot, and modern renaissance man. He is the former CEO of two internally recognized Fortune 500 companies, 7-Eleven, Inc. and Blockbuster, Inc. His other business interests cover a broad range of industries from retail, consumer products, technology, healthcare, cyber security, new space, energy, and advanced nuclear. He sits on several public company boards and serves as a board adviser to a venture capital firm and a number of start-up companies.