This engaging conversation features James Keyes , former CEO of both Blockbuster and 7-Eleven, as he shares his inspiring journey from humble beginnings to leading Fortune 500 companies. James reveals how his father’s emphasis on learning and embracing change shaped his perspective, leading him to view adversity as a superpower. Through captivating anecdotes of counting cups at McDonald’s, bold observations at Gulf Oil Corporation, and navigating the complexities of bankruptcy at 7-Eleven, Jim highlights how change, even in its most daunting forms, can birth remarkable opportunities for personal and professional growth.
Humble Beginnings & the Power of Education: (00:00:49 – 00:10:31)
Jim grew up in rural Massachusetts in a modest household.
His father, despite dropping out of school early, instilled in him a deep appreciation for learning and exploration.
Jim’s father believed education fostered freedom and opportunity, shaping Jim’s own path.
Early Career: Embracing Boldness and Honesty: (00:10:31 – 00:18:27)
Jim worked his way through college with jobs like flipping burgers at McDonald’s, gaining valuable business experience.
During his MBA internship at Gulf Oil Corporation, he impressed the CEO with his honest observations and willingness to challenge the status quo.
This boldness, coupled with his strong work ethic, landed him a full-time job even before graduating.
Navigating Change and Crisis at 7-Eleven: (00:18:27 – 00:30:15)
Jim joined 7-Eleven after a series of acquisitions and leveraged buyouts left the company on the brink of bankruptcy.
He viewed this crisis as an opportunity to refocus the company on its core value proposition: convenience.
Under his leadership, 7-Eleven emerged from bankruptcy stronger, growing to over 80,000 stores worldwide.
From 7-Eleven to Blockbuster: A CEO’s Versatility: (00:30:15 – 00:33:58)
After successfully navigating 7-Eleven through a challenging period, Jim took on the role of CEO at Blockbuster.
He aimed to leverage his experience with change and technology to adapt Blockbuster to the evolving media landscape.
Despite facing another financial crisis in 2008, Jim managed to stabilize the company and implement innovative solutions like streaming and kiosks.
Change Equals Opportunity: A Leadership Mantra: (00:33:58 – 00:34:35)
Throughout his career, Jim learned a crucial lesson: “Change equals opportunity.”
He emphasizes that it’s not the change itself, but our response to it that determines success.
Jim encourages young people, especially those facing adversity, to embrace change and view it as a chance for growth and progress.