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Jay Hennick
Global Chairman & CEO, Colliers International Group Inc.

Jay Hennick Receives Honorary Degree, Doctor of Laws, from York University - Part 2

🎥 Jun 24, 2015 📺 J Hennick ⏱ 7m
Jay Hennick - Addresses Graduating Class at York University.
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About Jay Hennick

Jay Hennick, Global Chairman and CEO of Colliers, was inducted into the Canadian Business Hall of Fame in May 2024. In a legacy video and acceptance speech, Hennick reflected on his nearly 50-year career, describing his upbringing in a working-class area north of Toronto and his early entrepreneurship at age 17 supplying lifeguards. He stated that he built an "Empire from essential Services business centered around real estate" by buying well-managed service businesses and working with management teams. Hennick noted that FirstService and Colliers were split to allow shareholders to choose between a "steady growth engine" and a "more transaction driven" business. He attributed the success of both companies to a unique operating culture that is "very entrepreneurial" and difficult to replicate, and expressed hope that increasing recurring revenue streams would attract a better market valuation. In his Hall of Fame speech, Hennick outlined five guiding principles: imagination, education, hard work, dealing with adversity, and luck. He said that luck involves "actively shaping your destiny, taking bold actions and seizing key moments." Hennick also emphasized the importance of cultivating a unique culture aligned with a core purpose and vision, and expressed gratitude for the contributions of partners, business leaders, and over 60,000 employees.

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Transcript (1 segments)
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Jay Hennick0:02
Mr. Chancellor, honored guests, Patrick, thank you so much for that very kind introduction. I was just saying to Patrick a minute ago, I don't know where you got all that material, but that is taking me down memory lane. So thank you again. I'm extremely humbled and grateful to receive this honor. I could not have earned it without the love and support of my beautiful wife Barbara for 31 years. She's made my life exciting and fulfilling and has been a true partner in everything we've accomplished. Our greatest accomplishment of course is our children. I'd like to thank Bradley, Allison, and Jory for making us so proud of them each and every day. And now let me turn to the graduates and say congratulations to all of you, and to those who are here to show pride and support. Graduates, I think you should keep something in mind today. They call these ceremonies commencement for a reason. Graduation is not the end – it's actually the beginning. Until now you've worked very hard to gain the skills necessary to develop your own life story. Today you begin to write it. But what kind of story will you write? I never make predictions especially about the future, but I will say this: when it comes to the future, there's really only three types of people: those who make things happen, those who let things happen, and those who ask what actually did happen. Regardless of the career you choose, you want to be the one who makes things happen. But how do you do that? Unfortunately, life doesn't come with a road map or instructions for success. Living life and building your career is not like putting together a table from IKEA. And things happen along the way to force you to change course whether you like it or not. If you aspire to achieve all of your hopes and dreams, you must take charge of your life because no one else will. Today I'd like to offer you three pieces of advice as you embark on life's journey. The first is: don't try harder, try smarter. Trying harder is not always the best solution to achieving success. Sometimes it's a big part of the problem. Some people try to solve the same problem by doing the same old thing over and over and over again, but all they really end up doing is letting things happen rather than making them happen. Trying smarter means stepping back, it means giving the problem a fresh look, it means trying a new approach. Trying smarter also means always being open-minded to the possibilities. Second: when you have a decision to make, don't allow yourself to be the victim of information overload. Facts are essential for sure. However, important decisions are usually time sensitive or won't have clear answers in the first place. And many decisions require judgment and experience to get them right, so don't be afraid to seek out mentors or ask trusted friends for their opinion. Great opportunities are precious and few, so I would suggest doing as President Harry Truman did: gather as much information as you can before making a decision, and then going with your gut. Don't get bogged down with the details and let the opportunity pass you by. Finally, never forget one simple fact: life is not always fair. This may sound harsh, but actually the harshest thing would be in not preparing yourself for life's setbacks and disappointments. I personally have had so many lucky breaks, starting off with wonderful parents who have unfortunately passed on, warm and loving siblings and close friends and relatives. But on two occasions I had to face the fact that life can be unfair. The first time I was in my late thirties with a young family and a great career. Then, after a random physical, I was diagnosed with cancer. Thankfully the cancer was removed and I was fine. So I figured I had my brush with fate. But no one said there's a limit to life's nasty surprises. Last January after going in for an MRI, I got a call from my doctor. It turns out lightning can and did strike twice. This time I had a brain tumor. Life truly was not fair. But when life throws you a curveball, there's no point in complaining about it. Instead I told myself, I won't let this get me down. I have too much to live for and too much living left to do. It wasn't easy. I had another operation, this time not a very pleasant one. I have some hearing loss as a result, but otherwise I feel better today than at any other time in my life. In life there's no way of knowing what the future holds. What you can count on though is how you decide to deal with its opportunities and its challenges. So graduates, you now have all the tools necessary to write one hell of a life story, or as the late great Steve Jobs put it, to put a ding in the universe. I hope my thoughts today will help you do just that – put a ding in the universe. Congratulations again and best wishes to everyone.