Stacey Key: Connecting minority businesses to corporate America

Read what the former IBM and BellSouth executive has to say about the global marketplace, revenue generation and social media.

What inspires you to show up to work every day?
The GMSDC is the state of Georgia’s leading supplier diversity organization. We work to certify Minority Business Enterprise firms, train and develop them into world-class suppliers, and then connect them with opportunities to do business with corporations and governments all over the state. I see my role as an opportunity to really make a difference in the lives of everyday Georgians. Our programs create jobs, lead to supplier opportunities, help new businesses get started and teach folks how to win contracts and grow their businesses. We improve the quality of life for people all across the state, and that’s what motivates me. I love the fact that what I do daily helps people.

How did you determine your career path?
My early career was spent in corporate America, in areas like sales and marketing, operations, and various customer-facing roles. Thanks to some excellent mentors, I learned many valuable leadership lessons and began to climb the corporate ladder somewhat into middle management. Along the way, I became a small business owner myself, which allowed me to experience firsthand what it takes to run your own business. After some 20 years of working in the corporate arena, I was approached about this opportunity. I saw it as a great way to put the skills I’d been learning — both in my jobs and as an entrepreneur — to productive use in an environment that really benefits the small business community. Helping small business prosper is my passion.

Describe the future skill sets that are essential to future business leaders and innovators?
The leaders and innovators of the future do not need particular skills as much as they need to have the right attitude. When I started out, there was a “right way to do things,” and we were trained and molded to function within those parameters. Today, with the rapid pace of change and the global nature of the marketplace, there is no right answer most of the time, at least not in the traditional sense. Those who wish to lead in the future must be flexible, open-minded and able to adapt easily to new environments. That’s not to say that education and training are not important, because they are; but those who are creative, proactive and persistent are going to win long-term.

Define innovation methods you apply to your business and life? 
My organization chose as its 2014 theme the phrase, Innovate … Ignite …Transform, to reflect the volatile dynamics of a global, high-tech marketplace, and as a way of encouraging the small businesses we serve to revisit their business models in order to more effectively compete. I pride myself on being a lifelong learner — one who understands that there is more to the story and that we will never master it all — so I am always challenging myself to acquire new knowledge. I spend time with high-energy, forward-thinking leaders who force me to step up my game all the time. The enemy of real progress is complacency, and I for one do not sit still. I challenge the status quo and ask lots of “what if” questions. My natural curiosity and zest for life typically lead me into new adventures outside my comfort zone, and life outside the comfort zone is the breeding ground for innovation.

Describe goal setting methods you use and how you evaluate your success?
At GMSDC, our entire business model is built around the success of our constituents, some 700 small businesses and 500 corporations that make up the Georgia Council. Each year, I lead our board of directors in a goal-setting process to determine what metrics we are going to measure and ‘what success looks like’ for that year. Our goals can take many forms, but essentially they always measure a few key parameters — how many constituents we served, how much revenue our business partners generated, how many jobs were created and how we improved our efficiency as an organization. We review our performance against those standards every year, get feedback on how we can improve our services to our constituents, and then make the appropriate adjustments for the next year. We are all about facilitating win-win partnerships.

Names three books that changed how you saw life and you recommend to others?
Think and Grow Rich: A Black Choice — Dennis Kimbro
Who Moved My Cheese? — Spencer Johnson
What Makes the Great Great — Dennis Kimbro

Describe why lifelong learning is important to you?
In today’s technologically advanced society, the amount of information available to mankind increases exponentially every day. It is impossible to keep pace and be competitive in this global marketplace without pursuing fresh ideas and new information on a regular basis. Almost daily, there is a breakthrough technology announced or a new gadget introduced into the mix. We have positioned ourselves at GMSDC as the premier resource for business in Georgia, and in order to live up to that brand, we must stay abreast of current trends and new developments. Stagnation leads to decay, and we cannot afford to lag behind if we wish to remain the go-to organization for companies who are looking for diverse suppliers. We must keep pace in order to remain relevant.

What are the three most important factors of being a successful woman?
Confidence — You have to know who you are and be secure in your purpose in order to succeed.
Boldness — You cannot sit back and wait for life to happen. Fortune favors the bold.
Tenacity — Life is going to tell you ‘no’ way more often than ‘yes.’ No is only the beginning.

Technology plays what role in your daily life?
My early career was spent with companies like IBM and BellSouth, so I have been highly invested in technology for many years. My schedule is quite hectic, with many meetings, training sessions, conferences and events, plus I travel a good bit across the country and even overseas. My technology links me to my office, my family and my staff, regardless of where I am. I can access all of my work files and systems remotely and continue to be productive day or night, even when I am on the road. Part of this year’s plan at the GMSDC is to use additional technology platforms to touch our stakeholders in various ways.

What social media or digital tool has made the biggest difference in your life and why?
I personally am not a power user of social media platforms, but I recognize their value to our PR and marketing efforts. The GMSDC staff and a group of volunteers manage the organization’s social media presence, although I maintain a role in the strategic direction for our social media outreach. When I do engage social media, I typically use Twitter and Facebook. Both of these platforms are highly interactive and give us a convenient way to dialogue with our constituents and other stakeholders. It’s one of the best ways there is to receive immediate feedback.What social media or digital tool has made the biggest difference in your life and why?
I personally am not a power user of social media platforms, but I recognize their value to our PR and marketing efforts The GMSDC staff and a group of volunteers manage the organization’s social media presence, although I maintain a role in the strategic direction for our social media outreach. When I do engage social media, I typically use Twitter and Facebook. Both of these platforms are highly interactive and give us a convenient way to dialogue with our constituents and other stakeholders. It’s one of the best ways there is to receive immediate feedback.

If you could change one thing about the world what would it be?
For me, the answer is actually simple – world peace. Our society has become overly confrontational and way too violent. It is counterproductive for nations to go to war over political issues, at a price of millions of lives and billions of dollars over the centuries. Imagine the productivity, the inventions and the brilliant ideas that could result if we invested the same energy into bettering our world that we do into senseless confrontations. When we go to war, everybody loses – there are solutions available to us if we are willing to compromise.

If you could change one thing about yourself what would it be?
I am not a very patient person at times, and it would be wonderful to improve in that area. My tendency is to press forward and make it happen right away, which isn’t always feasible. I would like to develop in my ability to slow down a bit and wait for the right solution to emerge.

Who or what motivates you and why?
I am actually the prototype of a self-motivated person. I am such a driven, high-energy individual that I do not need external motivation in order to get excited about what I want to accomplish each day. I am thrilled that I get to do meaningful work that has a positive impact on so many lives — that is all the motivation I need.

What are the do’s and don’ts for young women in business?
Do –
Have a Mentor – Wise counsel saves you time, treasure and heartache along the journey
Work Hard – Ours is a very competitive society where nothing is promised to us
Know Your Stuff – She or he who has the most (correct) information wins
Be a Lifelong Learner – You don’t ever know enough and you will never know it all

Don’t –
Show Up Late – Time is a precious commodity that cannot be recycled
Be Unprepared – Some opportunities only show up once, so make the most of them
Assume – assumptions lead to bad decisions based on faulty information
Take it Personally – avoid the ‘emotional’ stereotype … it’s not personal, it’s business

How do you successfully grow from business failure?
The secret to success after “failure’ is to never accept defeat. I mentioned earlier that ‘no’ is only the beginning of the conversation. There is always a way to get the job done —another person you can call, additional information you can research, an area somewhere that can be improved upon. Too often, people accept ‘no’ in situations where they were right on the verge of breakthrough. My suggestion to young women is to make up their minds to never, ever quit.

Name three of your most successful female role models and why?
Michelle Obama – a model of grace and dignity in the fishbowl of political life
Ginni Rometty – the first female CEO of IBM and a true corporate trailblazer
Oprah Winfrey – the prototype of the self-made visionary, and a global culture influence