Corporate mogul tells story of his successes

Crowds of Wharton students gathered yesterday at Huntsman Hall to hear renowned market researcher and Wharton graduate J. David Power III speak about his invaluable business experiences.

"We thought he would be a big draw and an interesting guy," said Wharton sophomore Greg Cohen, who was one of the event's organizers.

And others involved in the event's organization considered it to be quite a success, as the lecture room was filled to near-capacity with future businesspeople, all of whom were anxious to learn a thing or two from the corporate tycoon.

In his speech, Power went over his experiences in the business world. He worked at the Ford Motor Company for several years, but finally decided to quit and start his own business, remarking that "the biggest mistake in business is not to move."

Thus, Power began his career as an entrepreneur -- and judging from his personal anecdotes, it was not an easy road.

He spoke of the many difficulties he encountered when first starting his company, which takes surveys and then sells the statistical information to other businesses -- primarily companies in the automotive industry.

Though extremely successful, Power was not lacking in modesty or a sense of humor.

He cited his numerous dealings with the Japanese, particularly Toyota, as being largely responsible for the initial success of J.D. Power and Associates. The company now does business in countries all over the world.

Though Power's talk was more of an overview of his professional life than a lecture on how to do good business, he offered a few tips for his admirers.

The importance of taking risks was one of Power's recommendations. Power himself was originally involved in the finance industry, but eventually quit to found a multi-million dollar company.

"The biggest challenge is finding the right people and motivating them the right way," Power said. He added that "people are the key to business," a comment to which many of the 80-odd audience members nodded with approval.

"I came for the reputation of the speaker and company," Wharton freshman Lionel Peralta said. He was very impressed with Power, saying, "He did not give up. ... Look what he got."

The event was part of the Musser-Schoemaker Leadership Lecture Series. In the recent past, organizers have brought in renowned businessmen Kenneth Cole and Donald Trump.

Cohen said that the goal in holding these events is to "nominate speakers that we think would have important leadership lessons for the undergraduate students."

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