New Hampshire Governor Craig Benson admits that he always felt a little weird as a child. Speaking to a capacity crowd last night at the Amos Tuck School of Business Administration, he explained how using a different thought process than the average person led him to succeed in the fast-paced and haphazard world of start-up business.
The speech was largely without mention of politics. Benson instead focused on Cabletron System, the New Hampshire-based company that he co-founded, and stressed the importance of viewing change as an opportunity.
He said that his involvement in Cabletron did not seem like a tremendous opportunity at the time. Years later, however, and the better part of a billion dollars richer, Benson undoubtedly thinks differently.
Much of his speech thus dealt with the rapid change of the business world.
"Change forces one to continue to innovate...each time [I] got into a business that was more stable for the future," he said. At times, Benson pointed out the limits of conventional learning in business. Instead, he believes that passion, instinct and decision making lead to a successful career.
Much to the dismay of audience members in it to make a quick buck, Benson asserted that any entrepreneur concerned solely with financial gain will fail. A successful businessman is a craftsman, one who is determined to become the best at what you do. Humorously, Benson claimed that an MBA student can find a problem with any opportunity. He conceded that "there is no such thing as a perfect opportunity." However, a successful entrepreneur must work with flaws to take full advantage of opportunities.
In describing his innovative business model at Cabletron, he scoffed a the idea of an executive hierarchy. No one in his company had a title unless it was completely necessary. He said, moreover, that everyone pulled equal weight and was in turn well compensated. When the company went public in 1989, every employee received stock, and Cabletron also picked up the taxes on the gains. Benson substantiated his claim that all employees are equal with stories of his stays with colleagues at the Best Western.
Later in the talk, Benson returned to politics by quickly outlining his interests and what his business experience brought to the table. Firstly, Benson said he owes his success in part to New Hampshire, where he relocated his company to from Massachusetts. He explained that he was treated like IBM as opposed to being ignored in Massachusetts.
Benson went on to describe the differences between his experience in the business and political spheres. "In politics there is no decision making, and the organization embraces the status quo."
It is Benson's contention that if you want to get somewhere in life you have to make decisions. When asked how he was encouraging public entrepreneurial spirit in the state, Benson responded by saying we are "building armies of risk takers." He implores his employees to make quick decisions, take risks and make mistakes.