Discipline, Resilience, and Passion with James “Jim” Keegan ‘55, Private Investor and Former Chairman of the Board of Adams Keegan

This episode of the WPAOG podcast features a conversation between Tye Reedy '05, Director of Business Development at Adams Keegan, and James Keegan '55, a private investor and former Chairman of the Board of Adams Keegan. He is best known as a co-founder of Morgan Keegan & Company (now Raymond James), one of the country’s largest investment firms, where he served as president and COO until retirement in 1985. He has served as Chairman of the Board of Governors of the National Association of Securities Dealers (NASD) and as Chairman of the Board of Directors of NASDAQ, Inc. Mr. Keegan served as a Director of AutoZone, Inc. from 1991 through 2004.

In this episode, Jim tells us how his experiences at West Point and in the Air Force, helped prepare him for the business world. He provides his take on what is required to start a business and navigate the trials and tribulations to success. Jim also explains why being disciplined and resilient are paramount to being a great entrepreneur.

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Key Quotes

“Starting a business right now, the first thing I'd want to have is passion for the business and be adequately capitalized to start. And there you have the base. You start from there, you go into the integrity problem that you want your customers, your clients, to feel the same way you do, and to have the same experience you do and want to do business with you. You have to have the perseverance to know that if someone's going to say no and slam the door on you as you're walking out, you gotta turn around and do it again the next door you come to. And you might even go back to the first door and see if you can't get back in.” - James Keegan

“The idea of getting back and dealing with graduates, whether they're leaving the military after their obligation, like I did. Or setting out for a new life after retirement and starting their own business, I think if I can offer anything that helps them, makes it easier for them to do and understand what is involved, then I'd love to do it. That’s part of my goal. It's kind of a little payback if you will, because a great deal, pretty much everything I have, I gave West Point credit for whatever successes I might have had, however small or however large that goes along that line.” - James Keegan

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Episode Timestamps

(02:30) Growing Up and Interest in West Point

(06:30) Experience Attending West Point and in the Military

(10:00) Path to Finance and Starting a Business

(17:30) Military and West Point Professional Influence

(19:45) Importance of Capital to Entrepreneurship

(20:30) Keys to Success of Business and Navigating Hardships

(23:15) West Point and Military Influence on Discipline Resilience in Business

(29:00) Learning and Succeeding in Multiple Trades

(31:00) Importance of West Point Entrepreneur Summit

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Links

Tye’s LinkedIn

About James Keegan

West Point Association of Graduates

On Point Podcast