I AM CEO PODCAST
IAM1240 – CEO Sells Appliance on a Well-Defined Market Niche
Podcast Interview with Jim Estill
Jim Estill is CEO of Danby Appliances which is a niche manufacturer of specialty appliances distributing over 2,000,000 appliances per year.
Jim is a Canadian technology entrepreneur, executive, and philanthropist. He started his first computer distribution business from the trunk of his car while in university and grew that business to $2 Billion in sales.
Jim has invested in, mentored, and advised over 150 technology companies including Blackberry. He joined their board before they went public and served for 13 years.
- CEO Story: After spending five years in venture capital, Jim started as the board of Danby appliances, then he took over when the CEO resigned, and finally bought the company.
- Business Service: Selling appliance products to retailers and online stores that target the smaller apartments or households.
- Secret Sauce: Finding the right niche for the business. Entrepreneurial mindset, doing the right thing based on the need of the current environmental situation.
- CEO Hack: Book: Why We Sleep – guard your sleep, sleep makes you powerful. Health trumps wealth – the reason you’re able to do what you do is because you’re healthy.
- CEO Nugget: Fail often, fail fast, fail cheap, and having a failure does not make you a failure. Jim attributes his success that he failed more than many other people. Don’t fear failure.
- CEO Defined: Being everything. Servant leadership. CEO’s job is to help everyone succeed, help people get what they want and so you get what you want.
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