Fall 2016 Intersection Quarterly Review 2016 - Page 7

7 Interview with Jeff Terry of Amway (Continued) George: At our recent annual Ideagen European Union Delegations of U.N. Leadership 2030 Summit, you presented an in depth look at the recently released AGER, Amway Global Entrepreneurship Report. Jeff, could you provide us with a preview of the key themes from this report? What we’ve seen is the average for all focus in resources, and dollars, and attention countries is about 51, which calculated is the to really deploying your core solutions around mean of three areas; measuring desirability, what you can bring best to the table. Then feasibility, and stability find those who complement and leverage their against social pressure. What I mean by that, core competencies so that, again back to the is 55 percent of the individuals that we talk first point on this, together we can do more to on average express the desire but bring what you do extraordinarily well. to become an entrepreneur, 47 percent felt I think thirdly is just be open to Jeff: Absolutely. George, thanks, that’s prepared for entrepreneurship, and change. Change is a critical thing. We don’t we’ve been talking here a little bit about kind 49 percent would not allow the social live in a risk free world. We don’t live in a of our work to address childhood malnutrition, networks, their social networks, to dissuade change free world. We need to be open to but to its core Amway is about enabling them from doing this. taking risks. You need to be open to failing, entrepreneurism all over the world. Not just Of all the age groups but learning from those failures. Failing is not on, again a macro interested that have and are kind of a bad thing, it’s actually a very good thing. It scale but at a very individual level. For seven acting upon this entrepreneurial spirit those helps you grow, it helps your company and years now, we’ve been conducting in the 35 year old age range scored highest organizations grow. a research initiative and developing what we among all the age groups. Be open to change, take risks, call the Amway Global Entrepreneurship I’m going to be talking a lot partner and focus on your core competencies. Report and it’s intent is to take the more about the Amway Entrepreneurial Spirit There’s the three key things that I would say temperature and understand into the appetite Index because this about attitudinally have helped me in the work that I’ve done for individuals wanting understanding that which is driving people and really helped to provide solutions I’ve to start businesses for themselves. We do from thinking about doing something to been a part of, with a lot more work to go. this in more than 40 countries around the actually doing something in starting a business world. This past year we’ve talked over 60 for themselves. We’ve broken this down by George: What is up next for Amway? thousand individuals globally. gender, we break it down by age group. Jeff: I think the one thing that’s up next is Some of the themes that we’ve discovered entrepreneurial potential remains George: You’ve cited many examples of the we’ve talked about entrepreneurship, we’ve talked about our expertise in health and high. One of the key themes is two in five impact Amway is having across the planet respondents, 43 percent could imagine incredible perspective on how the company, addressing childhood malnutrition. How about if we bring all of starting a business. About 47 percent of men and with your leadership as head of Global and about 38 percent of women are willing to Corporate Social Responsibility, is taking the those together and really think about how we consider starting a business for themselves. whole notion of empowerment and impact to can use market forces, engage small business This remains high, we’ve seen this as a that very next level. That leads us to what is and entrepreneurs around the world to take on this big health issues. That’s where we’re theme for four years. We also recognize that a very important question at all of our going. Our future is really thinking about taking those individuals under 35 years old, more Ideagen Ideas Leader interviews which is, than 50 percent of them actually seems Jeff, what are the three key lessons you have our collective, our two focuses of expertise around nutrition and around entrepreneurship, starting a business for themselves as a learned that have potential to change the and putting them together to really, not just part of their employment journey. That’s world? improve health but also into improve very interesting. Jeff: George, it’s a great question. I think livelihoods well into the future. I think trends that we see or traits that we see in individuals that ultimately first and foremost build on something we George: Jeff Terry, truly changing the world. take that step in becoming entrepreneurs are were talking about a little bit earlier and that’s we can’t do things by ourselves. It’s Amway, absolutely changing the world those that are curious, upbeat, and really wanting to be in charge of their lives. Eighty really important to understand and know, and together, what an incredible impact. How can folks find out more about Amway, Jeff? five percent of individuals basically who are be okay with the fact that we can always entrepreneurs believe that they live their life continue to learn and do better when we learn Jeff: You can find more about us, you can go and do with others. Whether it’s crossto learn. to Amway.com. Certainly to find out about the sectoral relationships Their learning potential, their interest in learning is something that is or partn