|
|
Like this article? PLEASE +1 it! |  |
|
Canada’s Billionaire Businessman: How Schwartz Made Onex a Success
Article Overview: Schwartz is 66 years old this year but has no plans of slowing down. As Chairman and CEO of one of Canada’s most successful companies, Schwartz’s goals for the future remain the same as they have for the past quarter century: “More people. More transactions. Larger amounts of capital. Identical philosophy,” he says. How did this son of an auto-parts dealer become one of the Top Ten Wealth Creators in all of Canada?
 |
Free Download - Gerry Schwartz Quotes By Gerry Schwartz |
Canada’s Billionaire Businessman: How Schwartz Made Onex a Success
Schwartz is 66 years old this year but has no plans of slowing down. As Chairman and CEO of one of Canada’s most successful companies, Schwartz’s goals for the future remain the same as they have for the past quarter century: “More people. More transactions. Larger amounts of capital. Identical philosophy,” he says. How did this son of an auto-parts dealer become one of the Top Ten Wealth Creators in all of Canada?
Teamwork: One of the things Schwartz is most proud of when it comes to his company is the feeling of cooperation and teamwork throughout. Indeed, with no senior turnover, that spirit is one of the key push factors behind Onex’s success. “Everybody is a real partner,” he says. “And it makes a big difference.”
Patience: “Investments are like trains,” says Schwartz, “and if you miss one, don’t worry because another one will come down the line.” It was with that prudent and pragmatic attitude that Schwartz guided Onex through the many buyout frenzies to be one of the few remaining and most successful companies today.
Value: “We’ve got customers,” says Schwartz. “We’ve got suppliers. We’ve got employees. We’ve got unions. We’ve got communities. We’ve got all of these things that go into making up whether a business succeeds or fails.” Indeed, it was by looking past just the market conditions, and building up solid subsidiaries that Onex was able to create real value for its shareholders. He operated a business as if he were going to own it forever, and it was by doing so that he was able to turn it into something worth selling.
Risk: Schwartz did not get to where he is today by playing it safe. He invested in deals others advised him against, and he pulled out when others told him to stay. It was by taking calculated risks that he was able to profit where others before had not. But, it was also by learning from the risks he took, particularly the ones that failed, that Schwartz could better avoid them next time.
Pride: You may not know it to look at his global business operations, but Schwartz is a proud Canadian. Headquartered in Toronto, Canada, and staffed by Canadians, part of the strength of Onex has been the nationalist pride that runs through its corridors. They have loved being the underdog, and proving that they have what it takes to succeed in their native land.
Schwartz is proud of what he has accomplished so far, but says he has many years more to go. “I've got a long time. I've got a long time. I've got 25 to 30 years of this. Maybe longer,” he says. “As long as I am healthy, I’m not going to retire.” In the meantime, Schwartz says he has many plans for both his time and his wealth. “Dying rich has always struck me as dumb…There is still lots I want to accomplish, and I have a number of philanthropic interests to support.”
Lesson #5: Pride Can Power Your Company
Lesson #1: A Company Is Only As Strong As The Team Behind It
Lesson #3: Create Long-Term Value For Your Shareholders
No Holds Barred: Schwartz Takes Onex to the Top
Lesson #2: Know When to Hold ‘Em and Know When to Fold ‘Em
Related Forum Posts
Re: New from Seattle, USA
- Welcome to the club. It is nice having a Billionaire among us
Re: HI EVERYONE
- HI All,
I'm back too.. Was on a hiatus creating an online product. Made myself accountable for that by getting customers to pay for it first while I created it with them.
Re: THE SECRET TO SUCCESS IS ALL IN YOUR HEAD...RIGHT NOW!!!
- Success = Thinking (Head) + Heart (Feeling / Interest) + Hand (doing/ action).
Success - H3
Robert
Speed Networking anyone doing this?
- I ran a speed networking event in December and it was a phenomenal success. We had 38 attendees. Made lots of connections and had a great time.
Has anyone else ran this kind of networking event? If so, what was your experience?
.
Re: All the Secrets to Getting a Lot of Traffic Using Google AdW
- Hi Zeke,
Thank you for this very informative post about PPC. I've done some homework and played around with PPC before. Made some money, but lost a bunch too. I will take your wisdom into consideration for my next campaign.
I do have a question. Currently I'm only using Google Adwords. I have heard that MSN provides better conversions due to the demographic and types of users. Would you mind sharing your insight and any experience on this?
Thanks,
Alan
Share this article with your friends. Fund someone's dream.
Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
by: Leanne Hoagland-Smith, Chicago Sales Coach
February 2012 Top 100 Entrepreneurs to Follow on Twitter
Franchise Trends for 2011
Identifying Future Leaders: Creative Leadership Development Strategies in Tough Times
The Chain of Habits
How to Set Universal Laws in Motion
Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.