January 29, 2003
Wrap up: Astros Owner McLane Urges Long-Term
Values
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Austin, TEXAS - Legendary entrepreneur and Houston Astros owner Drayton McLane spoke to MBA students at the University of Texas McCombs School of Business on Thursday, urging them to dream big in this environment of change. "Only people with vision will change the world," said McLane.
McLane focused his talk on leadership, discussing how he worked his way up through his family-owned grocery business (which was eventually purchased by Wal-Mart), how he became one of the most successful owners in professional sports, and how he went on to develop the McLane Group, a global holding company of firms active in software, retail, energy, construction, packaged goods and e-commerce.
In addition to sharing his knowledge, McLane sought out some baseball advice from students, asking about the dilemma he's facing with long-time Astro Craig Biggio and recently acquired all-star Jeff Kent. "Maybe after I'm done speaking you can tell me what to do when you have two all-star second basemen," he said.
Other notable soundbites:
On what is important in life:
"The number one thing to focus on is what your personal values are. You need rock solid values. If you look back and are proud of what you've done, it's worth billions."
"Set goals for your life. Most people spend more time planning their annual vacation rather than planning their life. Make sure these goals include your values."
"You have to have a vision. Life won't reward you if you keep repeating what has already been done."
"The most powerful thing in the world is human ingenuity. We underestimate what we can really do as human beings."
On change:
"The best thing that happens in life and business is that nothing ever stays the same."
On success:
"The person who gets rewarded is the guy who can do it the best."
"Leaders are able to be leaders because people trust them and want to be around them."
"Get mentors. And not just one, or two, or three."
On who inspires him:
"One of my heroes is Christopher Columbus. I tell people that and they laugh …but he had a vision that the world was round…he had a goal, a plan and a way to get people emotionally involved through Christianity…[in order to carry through with his vision]."
"A professor once told me the following things: Dare to dream. Operate out of your imagination, not your memory. Love adversity. Walk with elephants - pick good people to hang out with."
For information on specific programs at the McCombs School, consult our contacts page. For media information, contact the Communications Director by phone at 512-471-3314 or by email at CommunicationsDirector@mccombs.utexas.edu.
