Allen B. Morgan, Jr.
Morgan Keegan, Inc., Chairman/CEO
1. What advice would you give someone starting a business?
"Well the most important thing is to have enough capital to start your business or backing. Second thing, surround yourself with top quality, talented people. And the third, I think you have got to be very serious about your business and think long-term about your business as opposed to very short-term and being an opportunist. When we got into the securities business we wanted to be in it all our lives, not just for a period of year and we attracted a lot of talented people and we made sure we raised the right amount of capital to get us started, but to carry us through."
2. What is your philosophy of success in business?
" When we first started the company we went out and raised the capital and were very serious about being in the business long-term not just short-term. We put a substantial amount of capital up to start off with but we knew that if the time wasn't right and we made some mistakes we were going to have more capital. We knew of another source of capital we could go back and get if we had to so we took a very long-term view. We also attracted people to the firm and allowed them to buy into the firm which helped up both in capital and in attracting talented people that wanted to own part of the business. My father told me a long time ago that it was much better to own ten percent of a very large business than ninety percent of a very small business. So from the very start we had a lot of different owners and we were able to attract and keep talented people because of that."
For More Information: http://www.morgankeegan.com
|
