Education: Georgia Institute of Technology, bachelor's degree, aerospace engineering; The Wharton School of the University of Pennsylvania, MBA
First job: Lockheed Martin Corp., working in aerospace technology
Recognitions: The 2002 Raymond Rafferty Entrepreneurial Excellence Award from the Greater Philadelphia Venture Group; Joseph P. Wharton Award; Legend CEO by the Technology Council of Philadelphia in 1995.
Involvement: Chairman of the board of the SEI Center of Advanced Studies in Management at Wharton; member, executive committee, World Affairs Council of Philadelphia; chairman, American Business Conference
Whom do you admire most in business and why?
I admire Bill Gates' competitive nature and his strategic bets. He makes some very large bets, and it's an incredible run. And I get a sense that he has a very high integrity.
What is the most important business lesson you have learned?
It all comes down to relationships -- relationships you have with clients, with Wall Street and with your employees. I think if you mind your relationships well and you follow the ABCs of business, everything will work out.
What has been your toughest business challenge?
I have always thought long and hard about the importance of recurring revenue. The first business didn't have enough recurring revenue, and we ended up getting out of it. We ran through a niche and we sold everything -- we couldn't keep the business alive.
That was the simulation. You learn the lesson quickly. Then, I just stuck to this model, because once you are on to something, don't outthink yourself.
What thoughts can you offer on leadership?
If you believe in something, do it rather than believing in it for someone else to do.