The University of Texas at Austin
  • Gary Hoover: A self-proclaimed business junkie

    Published: Feb. 18, 2010
    Gary

    What makes a successful enterprise and separates the winners from the losers?

    Gary Hoover, entrepreneur-in-residence at the McCombs School of Business, pinpoints eight keys to building a successful enterprise that are valid in both good times and bad. Hoover based his keys on more than 35 years of career experience that includes three Fortune 500 companies and four of his own start-ups, such as Bookstop and Hoover’s Online.

    Hoover calls himself a business junkie. He started subscribing to Fortune magazine when he was 12 years old and has a personal business library of more than 40,000 books.

    Each week for the past seven weeks, the McCombs Today blog has presented one of Hoover’s eight keys for success.

    Watch Hoover’s eight keys for success:

    Key No. 1 Be curious

    Key No. 2 A sense of history

    Key No. 3 A sense of geography

    Key No. 4 Clarity of vision

    Key No. 5 Consistency of vision

    Key No. 6 Service

    Key No. 7 Unique vision

    Key No. 8 Passion

    • Quote 2
      Ryan Sovelius said on April 16, 2012 at 12:41 a.m.
      The first 3 are definitely some of the ones I think many overlook way too much.
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      asterx said on Dec. 22, 2011 at 9:40 a.m.
      I definitely agree that serving a larger cause will help drive a lot of the other categories here...
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      Chakra Cleansing said on Feb. 27, 2011 at 8:59 p.m.
      Thank you for that article Gary. A personal library of over 40,000 business books must be a sight to see. I believe that being proactive is another key factor in being a success in your chosen field as well. In life 'waiting for something to turn up" is like waiting for dust to turn into silver, for magic and chance to take the place of natural law in the universe. Things tend not to 'turn up' in this world...but are turned up. The big fish, as well as the little, are caught by those who go fishing, not by those who stay home.
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      Dave @ Bunk Bed Plans said on Jan. 25, 2011 at 12:57 p.m.
      Gary, phenomenal article here. I love how you can take massive amounts of information and condense it into usable, informative bits of wisdom. I have this bookmarked for future reference and reflection.
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      Affordable website design said on Nov. 21, 2010 at 12:38 a.m.
      I would like to drop you a quick note to express my thanks to Garry hoover. I've been following your eight keys for a month.The eight keys are a impressive to read and very helpful indeed.Every day i used to read this blog to get perform myself. Thank you
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      Adam said on Nov. 10, 2010 at 4:03 p.m.
      I'll have to take a look at the McCombs blog, particularly week 2. If people are missing anything in entrepreneurial spirit these days, it's probably a sense of history. And as they say, we may be doomed to repeat it!
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      Josh@ Electronic Cigarette Lounge said on Oct. 19, 2010 at 12:49 a.m.
      I can't even imagine having a library of 40k books, let alone reading all of them! I agree with his list entirely. If you lack any one of those things being successful will be harder, if not impossible. It amazes me how much of your success, in not only business but everything else as well, is just based on whats happening in your head.
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      P. Brother said on Aug. 10, 2010 at 11:56 a.m.
      That is a good list Gary. I personally agree with Consistency of Vision. It takes time to build up a business and if you waiver on your vision or goal, you can't ever attain true greatness.
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      Bob Johnson said on July 31, 2010 at 12:51 p.m.
      Gary thank you for the insightful list here. I especially agree with number 6 (Service) and number 8 (Passion). In a sense these aren't separate or mutually exclusive concepts either, but either way they are incredibly important for success in almost any arena. I've been trying to work on my time management skills and I'm plagued by the clock, when I should really be more focused on passionately pursuing and helping other people using my unique talents and skills. Getting away from just trying to be efficient can pay major dividends, and focusing on contribution and service is rejuvenating and life affirming.
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      Kyle @ The Business Idea said on July 30, 2010 at 10:37 a.m.
      Gary Hoovers blog for business junkies sound interesting, I myself am a bit of a business workaholic so know where he is coming from, I shall check it out.
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      Local Search Marketing said on July 27, 2010 at 7:33 a.m.
      Gary Hoover sounds like me. I see myself as a internet junkie and my passion is help small businesses market themselves. I wish more small businesses followed those eight keys to success listed above. I will for sure keep that list handy.
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      Robert said on July 26, 2010 at 9:00 p.m.
      Very nice list here. I definitely agree that serving a larger cause will help drive a lot of the other categories here. The feeling of contribution tops almost everything else. Knowing that you helped someone (or a lot of someones) is incredibly worthwhile.
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      BizJunkie said on June 29, 2010 at 6:12 p.m.
      Very insightful. Keys that should be practiced. Following this great outline can spell the difference between success and failure and given the state of business in this country - we don't need more business failures.
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      Joseph Lizio said on June 29, 2010 at 6:09 p.m.
      Very good list and covers it all. I just wish that more entrepreneurs would follow your eight keys. It seems that every one is in a rush these days (one wanting one key - which is not possible) and all have dollar signs clouding their brains. But, if they would just step back - follow these keys (all of them) - the dollar signs will come.
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      InfoMatters - Curiosity - the driver of innovation said on Feb. 19, 2010 at 2:07 p.m.
      [...] a degree’s worth of insight in last month’s lecture on innovation which is available here. Start at part 1 and work through it at your speed to get the most from his words. Gary is a human [...]
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