I recently went one-on-one with Jerry Inzerillo, Group CEO of Diriyah Company and former CEO of IMG Artists and Forbes Travel Guide.
Adam: Thanks again for taking the time to share your advice. First things first, though, I am sure readers would love to learn more about you. How did you get here? What experiences, failures, setbacks, or challenges have been most instrumental to your growth?
Jerry: Well, it has been an extraordinary journey, and one that, had you told me what was going to happen when I started out as a busboy in New York, I never would have believed it. In a career that now spans well over five decades, if you had to sum up what I have done for a living during all these years, I think the phrase would be “The People Business”. When I worked in the hotel industry around the world, the core of what we did was ensuring that our guests – people from all walks of life and backgrounds – had a fantastic and memorable experience when they stayed at one of our properties. During my time running IMG, it was about working with artists who ultimately wanted to bring joy and happiness to people through their performances and artistic excellence.
Since June 2018, I’ve been honored with the greatest opportunity of my professional career as Group Chief Executive of the Diriyah Company, an honor bestowed on me by His Royal Highness Crown Prince Mohammed bin Salman that has transformed my life. At an age when most people are slowing down or ready for retirement, I now have the privilege to be helping to build a new city in Saudi Arabia. Working with amazing people from whom I learn every day as my career pivots towards an urban development focus. Enabling me to continually challenge myself professionally every day, to accept that not every great idea always works, but ensuring that what are sometimes short-term challenges can be transformed into long-term success.
Adam: In your experience, what are the key steps to growing and scaling your business?
Jerry: The most important thing is to know your audience and both the existing and potential market for your business or organization. Once you understand what people want, what they need, you are then in a position to create a business that can grow along with their needs. In my current role, for example, that is always ensuring that you have the right foundations in place that allow growth and accelerating progress as you get closer to achieving your end goal and ambition. There is a well-worn cliché about not running until you can walk. But my perspective is that as a leader, you and your team need to know the right time to start running – and what is great for me now – is making sure I keep up with a team that is moving faster all the time.
Adam: What are the keys to succeeding in business internationally?
Jerry: When taking your business proposition to a wider international audience, you need to have credibility and a sound business plan and proposition. To be able to answer questions about how you are financed? Who are your partners? Who is already working with you to justify the claims you are making? You need to give people a reason to believe in what you are doing, and that credibility comes from demonstrating you have the solid financial backing in place and the calibre and global quality of the partners that you have secured.
Adam: What are your best tips on the topics of sales, marketing, and branding?
Jerry: You need to be single-minded and create a brand that can be promoted for the long term. Brands need to be relevant and with a clear goal, and using simple, memorable language when delivering their message. The branding – from its visual identity to how it is applied and used across multiple platforms – needs to be single-minded and relevant.
Adam: What is your best advice on building, leading, and managing teams?
Jerry: I think what we are doing at Diriyah Company is an excellent example of what really works. The first thing is to surround yourself with smart people who are motivated, committed, and passionate to succeed. It is what a rapidly emerging country like Saudi Arabia has in abundance with its the range of talent, commitment, and professionalism among its mainly young men and women. Their passion, creativity, and desire to succeed is something that inspires me every day.
You need to invest in people, be humble, and also make sure you listen to the smart people you work with. And remember, as I have done, you can learn so much from the smart young people you are privileged to work alongside day by day. When you create a culture where people feel dignified, respected, and empowered, you are going to get the best out of them.
Adam: What do you believe are the defining qualities of an effective leader?
Jerry: There are a number of things, in my opinion, that good leaders must always consider. Always remember your roots, where you came from, and that passion is essential to fuel excellence. You also need to never be afraid to embrace change, innovation, and sustainability. Today, that is not a choice for a leader, but a business imperative. Teamwork is also essential: your success is built on your ability to motivate, stimulate, and learn from the great team around you.
I am a big believer that as a leader, you must talk to everybody, at all levels in an organization. You never know where the next great idea or insight is going to come from. I have always used these as the basis for how I operate as a leader, and I believe it has served me in good stead throughout my career.
Adam: How can leaders and aspiring leaders take their leadership skills to the next level?
Jerry: I have been in this business for a very long time, and what leaders I believe always have to do is keep learning. The world is a totally different place to when I started out in business. Keep an open mind, and there is one thing in particular that is especially relevant for effective leaders in an international business like mine – that is cultural intelligence. We have over 60 nationalities among our 2400-plus team, the majority of whom are Saudi nationals. That means to get the best out of the people you are leading and working with is to recognize cultural norms and differences to your own. Respect them, understand them, and engage with them. When you do that, and get it right, people will follow.
Adam: What are your three best tips applicable to entrepreneurs, executives, and civic leaders?
Jerry: The first is without doubt the power of partnership. Don’t believe you can do it alone, and I know first-hand the value of partnering with both world-class firms and local and central Government. Make sure you talk to each other and find out their perspective and point of view. When you understand the bigger picture, you can make better and smarter decisions. Have the confidence in what you are doing and the self-belief to succeed. That means don’t be afraid to fail, to challenge yourself and your organization to push itself and achieve breakthroughs.
Adam: What is the single best piece of advice you have ever received?
Jerry: Well, it might have been something that Frank Sinatra taught me during my time at IMG. He told me, “You’re either all in or you’re not,” and then added, “There are no rehearsals in life.”
