Danby CEO Jim Estill shares secrets to business success

Photo caption: Danby CEO Jim Estill talks to students about business success.

University of Guelph students received advice on running a successful enterprise from one of Guelph’s foremost business professionals recently. Jim Estill, CEO of Danby Appliances, came to campus to give a presentation on his seven secrets of business success and engage in an extended Q&A with attendees. In addition to his business ventures, Estill is also known for his sponsorship of 50 Syrian refugee families, personally pledging $1 million to bring them to Guelph.

The event was organized by second-year management economics and finance student, Ryan Martin.

“I had a chat with Jim Estill shortly after I learned about his sponsorship of Syrian refugees, and I began to realize that he had many sustainable ideas regarding business, ones that students in the College of Business and Economics could benefit significantly from,” said Martin. “Jim is a man who has been involved in innumerable business ventures and investments, and is committed to improvement in every facet of his life, I believed there would be no shortage of questions that students would want to ask him, and the consequent value he could provide.”

Photo caption: Ryan Martin and Jim Estill at the event's reception.

Estill’s seven secrets included creating a growth culture, inspiring people to embrace change, allowing for failure, being frugal and engaging in constant learning. He also emphasized that success in business is not connected to “one big thing” but to all of the “little things” and that entrepreneurs need to remember why they do what they do. An evident theme throughout the event was the importance of passion and taking business beyond the bottom line.

“You will not be a success if you do what you do for the money,” Estill said.

Estill’s talk was sponsored by Student Housing Services at the University of Guelph, where Martin is an Academic Learning Community leader for business and economics students. Academic Learning Communities are small groups or "clusters" of first year students who are enrolled in the same academic program and share living space and friendships. The program is designed to help new students adjust to the challenges of university life and study.

Photo caption: Jim Estill speaks with an event attendee.