Interview with Daniel DeVos

2024 Laureate Inductee

Daniel (Dan) G. DeVos is Chairman and CEO of DP Fox Ventures LLC. DP Fox, established in Grand Rapids, Michigan in 1993, is a diversified management company with interests in transportation, real estate and sports and entertainment; currently employing over 2,175 people in Michigan, Chicago and New York.

DP Fox owns and operates Fox Motors, Fox Harley-Davidson and Fox Powersports and is a partner in Windy City- Fox Motorsports. Established in January 2000 with the company’s first dealership acquisition in Grand Rapids, Dan and his team reinvented the automotive experience by placing the customers first. The Fox companies collectively represent 49 brands at 43 locations in Michigan, Illinois and Wisconsin.

We got the chance to interview Dan to learn more about how he got to where he is today. Here a short excerpt from the interview.

Excerpt from interview in July 2024

Jay: What are the three keys to your success?

Dan: One of the key factors that I feel is very important to success is finding something that you can commit yourself to. Something that you enjoy doing, are excited to focus on, and can really put your heart and soul into.

The second part is finding the right people to do it with since most businesses are not solo ventures. In my case, I focus on finding the best team to surround myself with. I've always looked for people who are smarter than me because I know I don't have all the answers.

Finally, always be prepared for change and be ready to innovate. Knowing that life is always going to change, be proactive and continually look for new ideas and different ways to approach things. Do not sit back and assume that things are always going to continue as is.

I was just talking with my colleagues about finding your purpose and how it may take some experimenting. There's nothing wrong with trying a few different things because you really won’t know until you try. It’s also okay to try something new but decide to go back to where you were. You then have a really good confirmation of your purpose.

Jay: One of the concepts we try to teach our junior achievers is to fail fast.

Dan: That's a good point, everybody's going to fail at something and if you never fail, you're not trying hard enough. The trick is to fail fast and then put that behind you, get up, and try again. If you let that failure hold you back, you're never going to be able to move forward again.

Jay: What have been some significant challenges in your career, and how did you overcome them?

Dan: When I was younger, one of the biggest challenges was finding out what I wanted to do as a career. I knew I loved automobiles, but before settling on that path I did try other things that convinced me this was the right direction.

It also was a challenge to break into the automobile business. I started out by holding a minority position in an auto venture with my college roommate. After deciding to start my own business there were the normal challenges of running a company and really learning everything about an industry. The economy or unforeseen things like COVID can present difficult challenges too.

Jay: Were there any principles that evolved through those challenging times?

Dan: I think it’s best to go back to the basics. Try to recenter yourself and remember what you really believe in, what are your objectives and values. You can fall back on these core truths and know that you can carry on despite challenging circumstances.

Jay: Any advice you'd give to a young person who's looking to get into business or start a business?

Dan: If someone wants to get into business it's just a matter of trying to find your passion. Like we talked about earlier it may take time to find the best fit, but as you are searching, remember to focus on what you are experiencing at each moment. Whatever you're doing right now, you're going to learn from. You also need to learn to work with all different types of people. You're probably not going to like everybody at work as buddies, but they are your business associates, so working well with all types of personalities is critical.

Another thing to remember is there’s always a time to talk, but also a time to just listen. Too much of either is not good but making sure you're taking the time to hear what others have to say is important.

I recently heard that college students are spending as much as four to eight hours a day on social media on their phones. In business, that's not going to help you get ahead. It sounds simple, but I’d say stay off your phone. That's it.

Another simple thing that I talk about a lot, is being on time. My motto is, 'If you're not early, you're late.' Being “old school” when it comes to business etiquette and common courtesies like being on time is a not a bad thing. Sometimes it’s easy for younger generations to overlook some of the basics, so I always encourage people who are just starting out to find a mentor. Let them help you with these types of things.

Dan DeVos will be inducted into the Corewell Health JA West Michigan Business Hall of Fame ceremony at Frederik Meijer Gardens & Sculpture Park on Monday, October 21, 2024.

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