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

Jay S. Hennick, Global CEO & Chairman of Colliers | Canadian Business Hall of Fame Acceptance Speech

🎥 May 24, 2024 📺 Colliers ⏱ 5m 👁 1333 views
Global Chief Executive Officer & Chairman of Colliers, Jay Hennick was inducted into the Canadian Business Hall of Fame in May 2024. In this speech he shares the lessons he has learned in his almost 50-year career.
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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 (6 segments)
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Jay Hennick0:00
Thank you Canadian Business Hall of Fame and Ja Canada for this incredible honor, and congratulations to my fellow inductees. Your accomplishments have really inspired all of us. For me, it's a special privilege to be recognized alongside my friend Prem Watsa, a true legend in the investment community. I'd like to begin today by extending my deepest gratitude to my wife, Barbara, and our incredible family, whose unwavering encouragement, support, and love truly motivate me every day. You know, creating exceptional companies is no small feat. It involves cultivating a unique culture that can stand the test of time, and then ensuring that everyone is aligned with that core purpose and vision for the future. I'm deeply grateful for the invaluable contributions of our partners, our business leaders, our board of directors, and more than 60,000 employees who have demonstrated relentless dedication and commitment over many years. It's through their efforts that we've been able to craft the truly remarkable success stories of Colliers and FirstService.
Tonight, you saw a brief glimpse of my almost 50-year career in five short minutes, yet the true value lies in the lessons learned and experiences that might resonate with those pursuing their own paths to success. Here are five principles that continue to guide me. The first is imagination. As Albert Einstein famously said, 'Imagination is more important than knowledge.' What he really means is that you must strive to do something better. Don't get sidetracked by listening to naysayers or self-professed experts. Gather as much information as you need to make a decision and then make things happen. The entrepreneurial spirit thrives on innovation and the fortitude and courage to defy convention.
The second principle is education, another vital cornerstone. In fact, I think education goes far beyond formal schooling in university or college. It includes on-the-job learning, discovering the interpersonal skills and disciplines you need to navigate in the real world. Taking the time to practice and to build your confidence is another essential ingredient of success.
The third is hard work. It's simply non-negotiable. To excel in a highly competitive environment, you must embody values like integrity, perseverance, and self-initiative in absolutely everything you do. But you also must work smart, maximizing your productivity while minimizing your effort, which is not really an easy task.
The fourth principle is dealing with adversity. It's an inevitable part of life. Whether you've faced difficulties during your upbringing, health challenges, or other hardships, overcoming them is crucial. Learn how to embrace setbacks with positivity and resilience. There's an old Japanese proverb that says, 'If you fall down seven times, get up eight.' Each time you rise, you grow stronger.
And finally, let me talk a little bit about luck. It's more important than you think. I'm grateful for the support of my family, as I mentioned, and the privilege of being born in our extraordinary country, a bastion of freedom and opportunity for all. The Canadian dream is alive and well and enriches every single person in this room and our families and the rest of the people that we're associated with. Thank you. But luck is not solely about chance; it's also about actively shaping your destiny, taking bold actions, and seizing key moments that have the power to shape our lives for the future. I'm profoundly grateful for these lessons learned, the relationships I've made over many years, and the unwavering dedication that drives me forward. I urge everyone to embrace these principles as you pursue your own aspirations. Approach them with integrity, with determination, and with fervor, and if you do, I'm confident that you'll find success and fulfillment in your own journey. Once again, thank you for this esteemed honor. Thank you.