Jack A. Belz
Belz Enterprises, Chairman/CEO
1. What advice would you give someone starting a business?
"The first advice that I would give to anyone that's planning to start a business is to learn every single thing they can about that business. In all probability they are not inventing something new, but rather are trying to do something better than has been done in the past and that gives them the benefit of studying what has been done and making certain that they have the opportunity to improve a business and to make real economic success and a personal success out of it."
2. Why is Memphis good for entrepreneurs?
"Memphis is almost an ideal place for entrepreneurs, and we have some ready remarkable examples of that type of thing. First let's call to mind Mr. Kemmons Wilson, who we are very proud was a close friend of ours and a business associate. Mr. Wilson literally created a new hotel industry. It started on a family trip many years ago, and he then created what became Holiday Inns. An outgrowth of that remarkable journey was several other hotel chains, some of which were created by major hotel companies, and some of which just came out of their own foundation. There have been headquarters of several hotel chains at various times in Memphis.
I believe it would be accurate to state that there is a constructive atmosphere of entrepreneurship in Memphis. There have been many very successful entrepreneurs who have grown large businesses, some starting from scratch, and others taking an idea, improving and expanding it. In the case of Mr. Fred Smith, he also created literally a new industry here in Memphis, and has continued having his headquarters here, although Fed-Ex is a common sight almost throughout the entire planet. Even the Post Office, whose inefficiency gave him his first ideas, later tried to copy him and add new services of special delivery to their conventional business model. We have had chains originating and headquartered here of many so-called fast food operations, airline catering, retail automotive replacement parts, and many others. For young creative and would-be entrepreneurs, they should keep in mind that staying here in Memphis could provide them the means to achieve their dreams. You must keep your eye on the target and be willing to persevere and not become frustrated if it is not easy. To be successful requires enormous effort and a willingness to accomplish the believable. While our own company has interests in various types of projects and businesses in many other cities, more than anything else, we have devoted toward the revitalization and almost recreating the Downtown area of Memphis. This has been a project which literally began in 1975, with the acquisition of the then closed Peabody Hotel. Since that time, remarkable things have happened in our Downtown, and they continue to happen, and many young entrepreneurs have, likewise, become infatuated with the idea of making something new or renewed out of something old and thought to be economically obsolete. Downtown Memphis is a perfect example of recycling existing properties into new and exciting usages and models.
For More Information: http://www.belz.com
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