Hoover's Vision: Original Thinking for Business Success

Washington, DC -- In a non-stop machine-gun style keynote address here today, business visionary Gary Hoover offered what is arguably the most articulate summary of the opportunities and challenges for SIPA members. “All the money is in the niches,” he said. “The opportunities are everywhere everybody is not looking.”

There is no way I can adequately capture Hoover’s passion. But imagine somebody having a secret that would change the lives of millions. Don’t allow him to speak for a whole year. Then ask him to drink eight cups of black coffee. Then put him in front of a microphone. Then make sure your toupee is screwed down tight.

The guy loves what he does, and does love to share how he does what he does.

Addressing a packed ballroom at the historic Mayflower Hotel during the 31st Annual SIPA Conference, the founder of Hoover's business information offered eight characteristics leaders of great enterprises possess.

A Sense of Curiosity. “Curious people look for answers in unusual places,” he said. Personally he likes to look for answers that will be valid 20 years out. Talking to as many people as he can seems to be key to his success, commenting that on one speaking engagement he learned more from the limo driver than the CEO who invited him to speak.

A Great Sense of History. You must pay attention to the market needs and how they have shifted over time. The fact that we in the U.S. have a growing elderly population and a growing percentage of Latino and Asian citizens, as examples, have and continue to present many opportunities.

A Sense of Geography. “We all grew up somewhere and we are all shaped by it,” he said. You must get to know what shapes the people in your markets to better serve them. “Know where you are at a given juncture of space and time.” This will help you identify most compelling opportunities.

A Clear Vision.

A Certain Vision.

A Unique Vision.

A Consistent Vision.

Hoover cited Southwest Airlines as one enterprise that scores well on vision.

“They get you on the plane fast, tell a joke, throw you some peanuts and take off!” Target is another company that is blowing the doors off competition by truly focusing on what their customers want. Sears is one company that lost its vision, he believes. They went into financial markets and built a tall building, he said. “They really took their eye off the customer.”

He said companies exist for one thing, and that is to “sell goods and services to people.” When you start saying your goal is to make money, you are headed down the wrong path. “Being measured isn’t the goal of a company.”

Passion. “No one ever built a company by not loving what they were doing.” He said if you don’t like what you’re doing, just get out.

He offered that you can learn from any type of enterprise (so study them), that you should talk eye-to-eye with customers as often as possible, and constantly look for opportunities where others are not.

Gary Hoover founded Hoovers business information. He also founded BOOKSTOP, which later sold to Barnes & Noble for $41.5 million. He is the author of "Hoover’s Vision."