Lunch and Learn: Lessons in Retail Excellence and Leadership
The NRF Association at UTD hosted its second event, the Lunch and Learn session, in which it brought together students, industry professionals, and RISE board members for an afternoon of lunching, learning and networking. The session had two notable speakers: Loc Nguyen, Senior Finance and Strategy at Blank Street, and Jim Skinner, Retired Vice Chairman, COO, and CFO at Neiman Marcus.
Both speakers offered unique insights gained from their professional experiences, sharing with attendees a wealth of information about how to navigate the world of business.
Loc Nguyen: Lessons from a Startup Perspective
Joining remotely, Loc Nguyen discussed his time working at David Matthews, the CEO of RevTech Ventures. He provided a behind-the-scenes look at life working for a Series A startup, ranging from accounting to strategic finance. His key takeaway for the students was to be proactive and adaptable as businesses scale. He emphasized taking on new responsibilities, understanding the direction and mission of the business, and understanding pain points so one could effectively fill gaps. Nguyen also emphasized the importance of networking professionally and communicating well. He advised students to over-communicate rather than under-communicate, conduct one-on-one meetings on a regular basis, and give regular progress updates. He further recommended mastering hard skills such as SQL, acquiring new skills, and taking on personal projects to advance one’s career prospects.
Jim Skinner: A Journey of Poetic Chaos
The latter part of the session was an inspirational speech by Jim Skinner, who has a wealth of experience in leadership positions at EY, Fossil, Neiman Marcus Group, and Hudson Group. Reflecting on his career path, Skinner shared how he initially had no clear direction at EY but soon realized the importance of personal growth. As he progressed to partner, he found himself drawn to retail, believing that the personality of a business played a crucial role in career satisfaction.
As he advanced to the position of partner, he discovered that he was increasingly attracted to the retail sector, convinced that the character of a business significantly influenced career satisfaction. Taking a leap of faith, Skinner moved from EY to retail as a CFO via a client relationship. His strategic direction built businesses from scratch to multi-billion-dollar companies. When it came to deciding between 7-Eleven and Neiman Marcus, he opted for the latter, taking on the challenge and global possibilities it presented. He told the story of finding his way through the upheaval of the retail universe, from exploring China as a potential market to coping with COVID-19’s unpredictability. Skinner concluded by providing lessons on leadership and teamwork, highlighting the fact that victory goes beyond just winning and includes the value of listening and teamwork. The session ended with thought-provoking discussions, allowing students to interact with Skinner, professionals in the field, and RISE board members. Attendees departed the event not just with practical information, but with the understanding that taking risks reaps great rewards. Students got the chance to networking and learn about internship opportunities as well as exciting club events ahead of the semester.