5 Things I Learned from BlackBerry CEO John Chen

On Our Minds...

John Chen knows a thing or two about pivoting.

"I like to do things people think aren't doable," the BlackBerry CEO said at a recent RBC event. "I like to accept a challenge."

Chen, known as a "turnaround guy" for his ability to return struggling companies to profitability, sat down recently as part of the monthly RBC Disruptors series to talk about the reinvention of BlackBerry, his business experiences and management style.

While the focus of the conversation wasn't about investing specifically, it was hard not to notice how much his business acumen and the mindset of a successful investor are aligned. Here are some of the most interesting things I learned from Chen's conversation.

1. Challenges Are Learning Opportunities

When Chen took over as CEO of smartphone-turned-software maker BlackBerry in 2013, it was the challenge of doing something different that was part of the attraction. Chen, who started out as a hardware engineer, says he looks for business opportunities that he'd like to try, knowing that he'll learn something from each of those opportunities. Continuous learning — be it about new investment ideas, strategies or accounts — is a key ingredient to successful DIY investing.

2. Attitude is Everything

Chen says he enjoys what he does, but admits it isn't always easy. "Sometimes it's really, really tough. You have to have the right attitude. And you have to get up every day and say, 'I'm going to create more value.' And you're going to have some setbacks." What investor can't relate to that?

3. Some Things are Easier to Fix Than Others

The longtime executive is a fixer. "I like to fix things," he says, although he says he never set out to be "The Turnaround Guy." Still, while he may like business challenges, he readily admits that he's no handyman. Present him with a struggling balance sheet any day, but ask him to change a lightbulb and he says he's been known to suggest to his wife that they hire someone else to do it. We as investors may like the challenge of building our own portfolios; doesn't mean we have to be experts at tackling our own renos!

4. Mindset Matters

When Chen is interviewing senior management prospects, he looks for people with a specific mindset. "I need people that come in, look at the problem and look at it as a challenge and a problem to solve." The right mindset, he says, is someone who thinks "I'll make something happen."

5. A Little Can Go a Long Way

"It's refreshing if you can get something done with very little…that's what excites me," says Chen. Again, he goes back to the love of a challenge, be it business or a game of bridge. He says it's really about doing better with what you've got. "I play contract bridge. We love a bad hand." He says it's an adage he likes his entire company to adopt.

On Our Minds is a regular feature written by members of RBC Direct Investing's Inspired Investor content team.