Betty Crocker. Bisquick. Cheerios. Chex Mix. Fruit by the Foot. Go-Gurt. Green Giant. Häagen-Dazs. Hamburger Helper. Nesquik. Progresso. Toaster Strudel. Wheaties. Yoplait. These are just a handful of the 100+ brands that Mark Addicks supervises as the Senior Vice President and Chief Marketing Officer of General Mills.
On Thursday, November 14, hoping to share the wisdom he had gained through decades of success and failure, Mr. Addicks brought his business experience and marketing expertise to a video conference with the Entrepreneurship Club. With a prestigious position at the seventh largest food company in the entire world, Mr. Addicks had much to offer the expectant members.
A high profile businessman, Mr. Addicks drew a good deal of attention prior to the meeting. Jeff Melsheimer ’14 commented that “I was very excited to get to hear him talk” and also said that “while he’s not your everyday pop-star celebrity, he is a pretty big deal.” Taken aback by the scope of his work, Melsheimer stated that “I didn’t even realize how big of a deal he was until he listed the General Mills’ brands and products,” a list that seems to go on endlessly.
James Schroeder ’15, president of the Entrepreneurship Club, shared similar sentiments, saying that “I was very honored and am thankful that a man of such great influence on the U.S. food business world would come to talk to our club for almost an hour!” Taking precious time out of his busy day, Mr. Addicks gifted the club with knowledge that couldn’t come from many other people in the world. But he didn’t get to this point of prestige overnight.
Early in his career, Mr. Addicks believed that he was destined to become a lawyer. After studying liberal arts in college, this seemed like a smart and safe career choice; nonetheless, he kept his doors open and ultimately chose to enter marketing, a decision that would prove to alter the course of his life and eventually lead him to his position as VP and CMO of General Mills. Jeff Melsheimer, who is in the process of thinking about his college and career choices, said that Addicks “inspired me to keep my mind open regarding my professional future” because “[Addicks] kept his options open…and because of that, he’s now one of the best at what he does.”
After giving a brief bio, Mr. Addicks began answering questions, captivating a room of eager students with stories of an eventful career. As a man who nearly went bankrupt investing in one of his start-ups, Mr. Addicks knows firsthand what it means to fail, what it means to almost lose everything. Nonetheless, he insisted that this was a part of business and that any investment requires a bit of boldness and perseverance.
He described failure as not only an unavoidable reality, but also as a welcomed step in the process of a career. It is an essential ingredient in the success of a product or someone’s career. Proclaiming that “you learn more from your failures than your successes,” Mr. Addicks highlighted the importance of failure, noting that it teaches lessons that won’t soon be forgotten.
Additionally, Mr. Addicks talked about the specifics of marketing, that to have success, you need to “create magic moments around your product,” something to distinguish it from other products. Furthermore, he emphasized that enhancing the product experience for the consumer sets your product apart from others. In many of the General Mills products, he described how with each product that they produce, they must create a brand that accompanies it.
Ultimately, the actual product is only one aspect of the overall consumer experience. Patrick Joseph ’15, identified that in a successful product “every part of the sale must be driven by what the customer wants and is thinking,” something that he had not recognized before.
Mr. Addicks also pushed the importance of looking at the market as a whole, constantly reevaluating and reassessing the market for a product, a position stemming from his close call with bankruptcy. His failure to do this nearly left him penniless, and he was sure not to make this mistake again. Even so, he said planning is secondary to the idea, that the idea is most central to the plan. Without a plan that one earnestly believes in, a business lacks the necessary fuel to reach its fullest potential.
In closing, Mr. Addicks encouraged those interested in business to inform themselves and seriously consider it. He said he loved the career because “business involves everything–it’s part sociology, part money, part idea, part everything.”
Thankful that Addicks took time out of his day, Patrick Joseph stated that “I think [Addicks] realizes that we are in the position to be the leaders of tomorrow,” an insightful perspective that has been confirmed with the successes of past students and will certainly be reaffirmed as current students go on to form their own successful businesses.
Putting students face to face with some of the most successful businessmen in the world, with names ranging from Mark Addicks to T. Boone Pickens, the Entrepreneurship Club offers an unparalleled member experience. Jeff Melsheimer put it best when he said “if you’re considering joining the club, definitely come to a meeting. You’re just missing out on opportunities of a lifetime when you don’t come see people like [Mark Addicks.]”
