Born: St. Louis
Education: Bachelor of science in business administration, Washington University, St. Louis
Whom do you admire most in business and why?
My elders who taught me to work hard, hire the best and be very ethical.
What is the best business advice you’ve ever received?
Listen, be decisive and give it my best every day.
Steinback on making decisions: One of the things I’ve learned in business, and I abide by it all the time, is that nobody knows all the facts of a given situation on any given day. If it’s a credit decision, I wish I knew everything there was to know about a credit decision at any given time, but sometimes you only know 90 percent of the facts. Maybe you only know 85 percent of the facts. I don’t delay and our whole company doesn’t delay. We respond. That’s one of the things we strive for because we strive for good service. We don’t delay people for certain things.
We give good service, and the way we give good service is we don’t delay. If I don’t have enough information to make a decision, I pass. If I have 90 percent of the information and it’s enough for us to make the proper call or a call, we will make the call.
But to sit around and wait for every little piece of information about a company or a transaction or about an investment, you could drive yourself crazy waiting for it. All the opportunities will pass you. We don’t pass on the opportunities. We’re opportunists. We move on. If we made a good one, fine. If we didn’t, we’ll bite the bullet and move on.