Bradley J. Oltmanns University of Illinois College of Business Champaign, Illinois Commencement Address May 10, 2008 Thank you very much Dean DeBrock, distinguished faculty and staff, and especially the College of Business graduates and their families and friends. I know that this day is very meaningful to everyone here, and I consider it a special privilege to be speaking to all of you this afternoon. But I have to be honest and tell you upfront, it was a huge shock to me when I was invited to deliver this address. Especially given the fact that I actually dropped out of the University of Illinois after completing my sophomore year! Yes, that's a true story. I wasn't always the highly motivated, focused, and accomplished individual that you heard about during Dean DeBrock's introductory remarks! In fact, almost the exact opposite. When I started here as a freshman in 1971, I found the campus to be a place of new and exciting learning opportunities, both inside and outside the classroom. And at the start, I dove pretty hard into the learning opportunities outside the classroom. For example, I probably spent more time at Murphy's Pub than I did at the Undergraduate Library. And I was better at throwing a Frisbee around the Quad than I was at attending my classes. So after a few years of mediocre academic performance, I realized that I was going nowhere fast, and I dropped out. But I have to say, dropping out of the University of Illinois was one of the best decisions I've ever made, because I wasn't really ready at that time in my life to learn and take advantage of the opportunities in front of me. After I left the University, I grew up and straightened out quite a bit. I got married (and Sue, my wife of 35 years, is here with me today), we had a daughter together, and I learned a lot about how the world works and what I wanted to do with my life. So when I made the decision to return to the University of Illinois four years after dropping out, with both a wife and a one year old daughter in tow, I was finally ready to learn and take advantage of all that was here. But this time slanted a lot more towards the opportunities inside the classroom. With a lot of help and support from Sue, and the University, I did eventually graduate, eight years after I started. And after I graduated, I began a successful career with PricewaterhouseCoopers, where I've now been for almost 30 years. So, when I was asked a few years ago by a student …"Do you think it's possible for someone to have a really bad semester and still have a shot at a good job upon graduation", I replied " I think that's possible even if you have a bad decade…but it's certainly not the easiest path to take!" All of you have already had a large measure of success at Illinois, and you are now about to embark on one of the most important rites of passage in life…graduating from college. And, if you are like I was on graduation day, I'm sure you have some apprehension and questions about what lies ahead of you. Questions like: How will my life change? Will I enjoy the working world as much as I've enjoyed college life? Will I have the same kind of flexibility and time for personal pursuits that I've had up to this point in my life? And finally, what does it really take to be successful in today's business world, and am I up for that? Well, without a doubt, your life will change significantly over the next few years, and you'll find some major differences between college life and the working world. For example: • In the working world, there is no such thing as starting the semester slowly, and then "catching up" later by cramming for the final exam. • To some extent, what you do on the job will be evaluated and "graded" by someone every day. • And most jobs that I know of don't give you Friday afternoons off. That's why they call it "work"! But, rest assured, you can be just as successful in the working world as you have been in college---and still have plenty of "fun"---if you follow some general principles. And in the interest of time, I'll boil them down to four principles that I've learned--sometimes the hard way--- and tried to follow in my own life. Number 1: Attitude is everything. It's no surprise that most successful people are optimists. When you expect good things to happen, they usually do. Often due to your perseverance and sometimes simply due to the impact your upbeat attitude can have on others. So I can tell you with complete confidence that, as you move into the working world, you get to decide whether the glass is half full or half empty, whether to be positive or negative, and ultimately whether to be happy or unhappy with your career and your life. Never underestimate the power of positive thinking. Number 2: Pursue jobs and roles that you enjoy. The secret to having great work life balance is to choose to do the type of work that you find most rewarding. So notwithstanding what I just said about having a positive attitude, don't stay in a job that you aren't really committed to for more than a year or two. Now, don't get me wrong here. After working for the same Firm for 30 years, I'm obviously not a big proponent of "job hopping". And I also think it's useful to work through the challenges you face in your life and not run away from them. But on the other hand, if you stick with something that you don't really enjoy for too long, you might find yourself "trapped" by an addiction to the money you earn, or get to the point where you are just on "autopilot" and "sleepwalking" through life. So as you make career choices and other similar decisions in life, I encourage you to always follow your instincts, your passions, and your heart. There's no one better equipped to decide what to do with your life than you are. Number 3: Take responsibility for your disappointments in life. Without a doubt, you will encounter a number of disappointments, and maybe even a few minor failures, over the course of your life. Things like: • Being given a performance evaluation that you think is "unfair" • Not receiving a promotion that you feel you've earned • Or having your kids tell you that you are hopelessly "out of touch" with reality All of those things have happened to me, and that's just a short list of my personal disappointments! But what I try to do when I'm faced with a disappointment, is to step back and, rather than blame someone else, examine what I could have done differently to achieve a better outcome. A simpler way of saying it is---- you can't fix the rest of the world, but you can fix yourself! And finally, Number 4: Define success for yourself. Contrary to popular belief, achieving success--especially in the business world-- is not really all that difficult. It just takes a willingness to work hard, team well with people around you, and be willing to learn from your mistakes. What is hard though is coming up with your own personal definition of success, and then following that path---and your values--- consistently. As I learned in my own life, success comes more from purpose and passion than it does from financial aspirations and dreams. And success is much more likely if you can stay centered on a core set of values to help you achieve success in a way that will make you proud and bring you fulfilment. And in terms of values to live by, I can tell you that you will never go wrong by putting "personal integrity" and "generosity of spirit" at the top of your list. At the end of the day, people rally around, support and follow those people they respect and those people who show kindness to everyone. And you won't be successful at anything in life without the respect and support of others. So, in summary: • Will life be different for you outside of college? Yes! • Will it sometimes be tough? Definitely! • And, will you be successful? Well, that's entirely up to you, but I think your chances are very good! Class of 2008, you all have a great life ahead of you, and I know that you will accomplish much. By your presence here today as a graduate of one of the finest institutions of higher education in the world, you honor your family, the faculty and staff, and the alumni of the University of Illinois who have preceded you. And for that, I congratulate and thank each and every one of you, and wish you health, happiness and much success. Thank you.