hi I’m Evan Carmichael and welcome to
another edition of maalula masters I
believe that the fastest and most
effective way to grow your business is
to model the strategies of people who’ve
already done where you’re trying to do
so today we’re going to look at how
young man whose early ambitions was to
be earning ten thousand dollars a year
went on to become a billionaire one of
Canada’s wealthiest entrepreneurs this
is the story of Jerry Schwartz and
enough three lessons that you can learn
from his success Gary Schwartz is a
Canadian businessman in 1977 he
co-founded can us global communications
followed by onyx in 1983 the report on
business ranked Schwartz is one of the
30 wealthiest Canadians with a network
that exceeds 1.5 billion dollars in high
school he said he wanted to be an
executive and to have a big job that
would pay at least ten thousand dollars
a year I thought $10,000 was a big deal
he said he learned about business from
his father putting the shorts I can’t
remember a day going up without my
father talking about business if he
bought real estate he’d explained how
and why today his investment firm onyx
as over 235,000 employees and Schwartz
continues to look for opportunities to
buy struggling companies turned him
around and sell them for a handsome
profit he was named ernst & young’s 2005
entrepreneur of the year and was also
made an officer of the order of canada
in 2006
by listening to his father’s advice and
by keeping his eye open for
opportunities jerry shorts was able to
become a billionaire to help you find
your opportunities here are three action
items you can learn from Gary Schwartz
action item number one keep your team
together if you want to grow your
business it’s important not only to find
good people to work for you but also to
keep them on board high employee
turnover hurts productivity and morale
and will limit how far your company can
go people love working for Jerry
Schwartz because he gives some
opportunities and respects their
opinions every Monday morning Schwartz
gathers his top executives and decision
makers in the onyx boardroom to discuss
the merits of transactions and
strategies both new and old if one of
his key team players is unable to be at
the meeting in person shorts make sure
they are brought in by telephone one by
one shorts goes around the table and
let’s each and every one of his staff
have their say it with a future
direction of the company and they do not
have to go along with whatever shorts
proposes if one person raises a doubt
about a proposal on the table the team
may still proceed but with greater
caution if two executives razor
dissenting voices then the deal is
dropped right then and there according
to shorts collectively we make onyx I
dynamic and collegial place to work one
of the hallmarks of onyx is that since I
started the company in 1983 every
professional who has joined the company
at our Toronto head office is still here
we’ve had no turnover
action item number to take risks being
an entrepreneur involves taking risks
you’re often venturing out into the
unknown and you have to be willing to
take that leap of faith even when you
don’t have all the information or
resources that you might need to be
successful there’s no such thing as high
returns without risk and among
investment bankers shorts a skinny
reputation for being willing to stick
his neck out take that risk he continues
going for the long shots for companies
that others haven’t thought about
acquiring and if the deal doesn’t work
out short says he takes it personally
but he dusts himself off and comes back
again for another try according to
Schwartz I’m still a long distance from
smart but I’m also a long distance from
dumb the hardest lesson that I’ve
learned has been not to repeat the dumb
mistakes I’ve made over the years which
are too numerous to list
action item number three look for new
opportunities business growth always
comes from seizing new opportunities as
they come up around you you’ll have to
make tough decisions if you pursue the
opportunities or not make sure you take
the time to really think about it and if
it’s going to work out instead of
jumping on board every opportunity that
comes by over as long career shorts has
come to recognize that they’ll always be
another deal success however only comes
from investing in the ones that he’s
really researched and dug down deep to
make sure that it’s a good deal because
of his reputation onyx is now informed
whenever any major company comes up for
sale anywhere in North America shorts
and his team then inspect the books of
each company and the respective markets
to see if it’s worth buying shorts is
also keen on finding his own potential
acquisitions one that have yet to be
advertised and that are hiding within a
larger parent company according to
Schwartz every decision onyx makes is
made on the basis of creating long-term
value our philosophy is to operate like
a forever owner of an asset we take an
excruciating length of time to buy an
asset we did nothing in the late 1980s
because of all the pressure to do deals
that’s not our game investments are like
trains and if you miss one don’t worry
because another one will come down the
line
so remember keep your team together take
risks and look for new opportunities to
finish up this video I wanted to share
one of my favorite true stories about
Gary Schwartz and some of his best
quotes in nineteen-sixty-nine when
shorts of pursuing his MBA at Harvard
the school was offering an introductory
course on computers it was a popular
course but Schwartz didn’t sign up for
it quoting the Schwartz I thought I’d
have assistants to do that stuff for me
which is why I missed the value of the
digital error in so many ways you can’t
understand the power of technology
unless you use it shorts might have
missed out on the computer course at
Harvard but what he calls his ridiculous
attitude towards computers changed after
trip to Bill Gates’s house he gave me a
Palm Pilot I got on a plane from Seattle
to Florida a five hour flight and
started on the instruction book I
couldn’t figure it out but a time
Schwartz had landed back home he was
only on section 3 of 15 in the
instruction
I said that’s it recall Schwartz I
decided to learn from that day forward
I’m existed onyx be on the leading edge
of information technology
thank you for joining me for another
edition of modern masters if you enjoyed
the video please give a thumbs up I’d
also love to hear your thoughts and
feedback if you want to leave a comment
below the video and stay tuned to the
next episode
another edition of maalula masters I
believe that the fastest and most
effective way to grow your business is
to model the strategies of people who’ve
already done where you’re trying to do
so today we’re going to look at how
young man whose early ambitions was to
be earning ten thousand dollars a year
went on to become a billionaire one of
Canada’s wealthiest entrepreneurs this
is the story of Jerry Schwartz and
enough three lessons that you can learn
from his success Gary Schwartz is a
Canadian businessman in 1977 he
co-founded can us global communications
followed by onyx in 1983 the report on
business ranked Schwartz is one of the
30 wealthiest Canadians with a network
that exceeds 1.5 billion dollars in high
school he said he wanted to be an
executive and to have a big job that
would pay at least ten thousand dollars
a year I thought $10,000 was a big deal
he said he learned about business from
his father putting the shorts I can’t
remember a day going up without my
father talking about business if he
bought real estate he’d explained how
and why today his investment firm onyx
as over 235,000 employees and Schwartz
continues to look for opportunities to
buy struggling companies turned him
around and sell them for a handsome
profit he was named ernst & young’s 2005
entrepreneur of the year and was also
made an officer of the order of canada
in 2006
by listening to his father’s advice and
by keeping his eye open for
opportunities jerry shorts was able to
become a billionaire to help you find
your opportunities here are three action
items you can learn from Gary Schwartz
action item number one keep your team
together if you want to grow your
business it’s important not only to find
good people to work for you but also to
keep them on board high employee
turnover hurts productivity and morale
and will limit how far your company can
go people love working for Jerry
Schwartz because he gives some
opportunities and respects their
opinions every Monday morning Schwartz
gathers his top executives and decision
makers in the onyx boardroom to discuss
the merits of transactions and
strategies both new and old if one of
his key team players is unable to be at
the meeting in person shorts make sure
they are brought in by telephone one by
one shorts goes around the table and
let’s each and every one of his staff
have their say it with a future
direction of the company and they do not
have to go along with whatever shorts
proposes if one person raises a doubt
about a proposal on the table the team
may still proceed but with greater
caution if two executives razor
dissenting voices then the deal is
dropped right then and there according
to shorts collectively we make onyx I
dynamic and collegial place to work one
of the hallmarks of onyx is that since I
started the company in 1983 every
professional who has joined the company
at our Toronto head office is still here
we’ve had no turnover
action item number to take risks being
an entrepreneur involves taking risks
you’re often venturing out into the
unknown and you have to be willing to
take that leap of faith even when you
don’t have all the information or
resources that you might need to be
successful there’s no such thing as high
returns without risk and among
investment bankers shorts a skinny
reputation for being willing to stick
his neck out take that risk he continues
going for the long shots for companies
that others haven’t thought about
acquiring and if the deal doesn’t work
out short says he takes it personally
but he dusts himself off and comes back
again for another try according to
Schwartz I’m still a long distance from
smart but I’m also a long distance from
dumb the hardest lesson that I’ve
learned has been not to repeat the dumb
mistakes I’ve made over the years which
are too numerous to list
action item number three look for new
opportunities business growth always
comes from seizing new opportunities as
they come up around you you’ll have to
make tough decisions if you pursue the
opportunities or not make sure you take
the time to really think about it and if
it’s going to work out instead of
jumping on board every opportunity that
comes by over as long career shorts has
come to recognize that they’ll always be
another deal success however only comes
from investing in the ones that he’s
really researched and dug down deep to
make sure that it’s a good deal because
of his reputation onyx is now informed
whenever any major company comes up for
sale anywhere in North America shorts
and his team then inspect the books of
each company and the respective markets
to see if it’s worth buying shorts is
also keen on finding his own potential
acquisitions one that have yet to be
advertised and that are hiding within a
larger parent company according to
Schwartz every decision onyx makes is
made on the basis of creating long-term
value our philosophy is to operate like
a forever owner of an asset we take an
excruciating length of time to buy an
asset we did nothing in the late 1980s
because of all the pressure to do deals
that’s not our game investments are like
trains and if you miss one don’t worry
because another one will come down the
line
so remember keep your team together take
risks and look for new opportunities to
finish up this video I wanted to share
one of my favorite true stories about
Gary Schwartz and some of his best
quotes in nineteen-sixty-nine when
shorts of pursuing his MBA at Harvard
the school was offering an introductory
course on computers it was a popular
course but Schwartz didn’t sign up for
it quoting the Schwartz I thought I’d
have assistants to do that stuff for me
which is why I missed the value of the
digital error in so many ways you can’t
understand the power of technology
unless you use it shorts might have
missed out on the computer course at
Harvard but what he calls his ridiculous
attitude towards computers changed after
trip to Bill Gates’s house he gave me a
Palm Pilot I got on a plane from Seattle
to Florida a five hour flight and
started on the instruction book I
couldn’t figure it out but a time
Schwartz had landed back home he was
only on section 3 of 15 in the
instruction
I said that’s it recall Schwartz I
decided to learn from that day forward
I’m existed onyx be on the leading edge
of information technology
thank you for joining me for another
edition of modern masters if you enjoyed
the video please give a thumbs up I’d
also love to hear your thoughts and
feedback if you want to leave a comment
below the video and stay tuned to the
next episode
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