Find Your Own Donut
Toyoda Akio,/the former CEO of Toyota,/gave the graduation speech at Babson College/in May 2019. The speech asks us not to be boring/and to find our own donuts.
Thank you,/President Emeritus Sorenson,/for that kind introduction,/and thank you to Babson/for inviting me here today.
President Healey,/Chair Capozzi,/Provost Rice,/Dean Rolleg,/members of the governing boards,/parents,/spouses,/friends,/babies,/and my fellow graduates. It is my extreme honor to speak to you today/as Babson College celebrates its 100th anniversary.
And may I be among the first/to congratulate this very special class of 2019!
So, let me get right to the point. I know that some of you may be sitting there,/stressed out about where you will work after graduation. You may be wondering/what company will offer you a job. Well,/let me take that worry off the table for you right now/and offer each and every one of you/a job at Toyota!
I haven’t actually cleared that with my HR department yet,/but I’m sure it will be OK.
So now that the employment issue has been solved,/let’s talk about more important things,/like how you plan to celebrate this momentous occasion. I mean,/how wild is tonight’s party going to get? And more importantly,/can I come?
But I can’t stay out too late/because tomorrow is the finale of “Game of Thrones”!
I have to tell you,/when I was at Babson,/I had no social life. For me,/taking classes in English/was a real challenge. It took all of my focus and free time. I never went to parties. I never went to a hockey game. I just went from my dorm to class,/to the library,/to my dorm,/to class,/to the library.
So when I attended Babson,/I was, in a word,/boring. But once I graduated,/I went to work in New York,/where I immediately made up for lost time/and became “the King of the Night”!
Now I’m not suggesting you do the same. I can tell,/just by looking at you,/that none of you are boring. I’m sure you have enjoyed a very active social life/while you were here. But since I’m here to offer you words of advice,/let the first be this:/Don’t be boring. Have fun!
Really figure out/what makes you happy in life,/what brings you joy.
When I was a student here,/I found joy in donuts. American donuts were a joyful, astonishing discovery. I want to encourage all of you/to find your own donut. Find what makes you happy,/and don’t let go.
You should know/I didn’t come here to tell you the usual stories/about the mountains you may have to climb,/or the challenges you’ll have to meet. No! Because I think we should just go ahead/and assume everything is going to work out great!
I think all of you are going to be a big success! I really do. And that’s where it gets tricky,/because you are going to be successful. You are going to climb that ladder/and make that money.
But will it be doing something that is fun? Something that you really love? Because when you are as talented/as I know all of you are,/it is so easy to wake up one day/and find yourself in golden handcuffs,/with a mortgage and three kids/that you need to put through Babson.
So,/whether you’re entering a family business or not,/now’s the time to figure out/what speaks to your heart the most.
The beginning of your career is really the best part,/because you have the freedom to try different things/before the inevitable responsibilities of life pile up. So,/use this time,/this freedom that your youth provides,/to find your happy world. And don’t be afraid/if it’s not what’s “expected.”
I’m lucky in some respects,/because I knew what I wanted to do/at a very early age. When I was a little boy,/I knew for sure/that I wanted to be a taxi driver. It didn’t completely work out,/but it’s pretty close. I get to drive cars/and be around cars all the time. And if there’s one thing I love more than donuts,/it’s cars.
Toyota has been building cars/for over 80 years now,/but we actually started out/in the weaving loom business. My great-grandfather invented the automatic weaving loom. But it was my grandfather, Kiichiro,/who took us from making fabric to making cars/and created the company we have today.
I’m actually the third generation Toyoda to run our company,/and perhaps you have heard the saying:/The third generation knows no hardship,/or the third generation ruins everything.
Well, hopefully,/that will not be the case. I mean,/I did graduate from Babson after all!
As luck would have it, though,/as soon as I became CEO,/we had the great recession,/an earthquake and tsunami,/and a recall that meant I had to testify to Congress/in Washington D.C.
At that moment,/I really did want to take a job as a taxi driver!
But I’m happy to say,/we’re doing fine now,/partly because I use what I learned here at Babson/every day at Toyota. Perhaps the greatest lesson of all/was the sense of entrepreneurship/that was instilled in me here. Even with a company as big as Toyota,/I still try to think of it as a start-up company.
In fact,/one of the challenges of running a business/that’s been in your family for decades is:/“How willing are you to make dramatic change/when it’s called for?” How do you look at things objectively/and not hang on to something for sentimental reasons? How do you take the risk of making fabric one day/and cars the next?
Our industry is undergoing revolutionary change today,/as are many others. Even I can’t predict/what kind of cars we will be driving 20 years from now,/but my time at Babson taught me/to embrace change rather than run from it. And I urge all of you to do the same.
I am often asked/whether I am burdened by having the name Toyoda,/and when I was your age,/I might have said yes. But today,/I’m very proud of what the name represents/and the hundreds of thousands of people it supports/around the world.
So,/let’s fast forward/and assume you have become successful/doing what you really love. Now let me give you some advice/from one CEO to another:/
Don’t screw it up.
Don’t take it for granted.
Do the right thing. Because if you do the right thing,/the money will follow.
Try new things,/even if you’re old.
When I became CEO of Toyota 10 years ago,/I was told by one of my mentors/that I couldn’t expect to be taken seriously by our engineers/unless I really knew how to drive/at the highest level. So, at the age of 52,/I took on the challenge of training/to become a master driver. Not just so I could drive our race cars,/which I do,/much to my father’s dismay,/but so I could communicate/how I think our cars should drive/with our engineers.
The point is,/you’ve always got to be learning something new,/no matter how old you are. Never give up being a student,/because being a student is the best job/you will ever have.
Find people that inspire you:/Oprah. Yoda. Tom Brady. Your parents. Your friends. Feed off their energy!
Be a person that inspires others.
Be a good global citizen.
Care about the environment, the planet/... about what’s happening in other parts of the world.
Don’t worry about being cool/... be warm.
Decide what you stand for.
At Toyota/we have a set of values/that include integrity,/humility,/and respect for others. We call it the “Toyota Way.” And it gives our company a North Star,/a guiding light.
Find your own guiding light,/and let it inform every decision you make. Let it help you make the world a better place.
Ladies and gentlemen,/fellow students,/today is where it ends,/and today is where it all begins.
In Japan,/every time a new emperor ascends to the throne,/a new era begins. And the calendar starts over at year one. We just had a new era begin in Japan on May 1st. Every era has its own name,/and this one is called Reiwa,/which means “beautiful harmony.”
In many respects,/all of you are beginning a new era of your own,/where the clock is set back to one/... and the possibilities are endless.
I hope your era is one filled with beautiful harmony,/much success/... and many, many donuts.
Thank you very much.
Toyoda Akio,/the former CEO of Toyota,/gave the graduation speech at Babson College/in May 2019. The speech asks us not to be boring/and to find our own donuts.
Thank you,/President Emeritus Sorenson,/for that kind introduction,/and thank you to Babson/for inviting me here today.
President Healey,/Chair Capozzi,/Provost Rice,/Dean Rolleg,/members of the governing boards,/parents,/spouses,/friends,/babies,/and my fellow graduates. It is my extreme honor to speak to you today/as Babson College celebrates its 100th anniversary.
And may I be among the first/to congratulate this very special class of 2019!
So, let me get right to the point. I know that some of you may be sitting there,/stressed out about where you will work after graduation. You may be wondering/what company will offer you a job. Well,/let me take that worry off the table for you right now/and offer each and every one of you/a job at Toyota!
I haven’t actually cleared that with my HR department yet,/but I’m sure it will be OK.
So now that the employment issue has been solved,/let’s talk about more important things,/like how you plan to celebrate this momentous occasion. I mean,/how wild is tonight’s party going to get? And more importantly,/can I come?
But I can’t stay out too late/because tomorrow is the finale of “Game of Thrones”!
I have to tell you,/when I was at Babson,/I had no social life. For me,/taking classes in English/was a real challenge. It took all of my focus and free time. I never went to parties. I never went to a hockey game. I just went from my dorm to class,/to the library,/to my dorm,/to class,/to the library.
So when I attended Babson,/I was, in a word,/boring. But once I graduated,/I went to work in New York,/where I immediately made up for lost time/and became “the King of the Night”!
Now I’m not suggesting you do the same. I can tell,/just by looking at you,/that none of you are boring. I’m sure you have enjoyed a very active social life/while you were here. But since I’m here to offer you words of advice,/let the first be this:/Don’t be boring. Have fun!
Really figure out/what makes you happy in life,/what brings you joy.
When I was a student here,/I found joy in donuts. American donuts were a joyful, astonishing discovery. I want to encourage all of you/to find your own donut. Find what makes you happy,/and don’t let go.
You should know/I didn’t come here to tell you the usual stories/about the mountains you may have to climb,/or the challenges you’ll have to meet. No! Because I think we should just go ahead/and assume everything is going to work out great!
I think all of you are going to be a big success! I really do. And that’s where it gets tricky,/because you are going to be successful. You are going to climb that ladder/and make that money.
But will it be doing something that is fun? Something that you really love? Because when you are as talented/as I know all of you are,/it is so easy to wake up one day/and find yourself in golden handcuffs,/with a mortgage and three kids/that you need to put through Babson.
So,/whether you’re entering a family business or not,/now’s the time to figure out/what speaks to your heart the most.
The beginning of your career is really the best part,/because you have the freedom to try different things/before the inevitable responsibilities of life pile up. So,/use this time,/this freedom that your youth provides,/to find your happy world. And don’t be afraid/if it’s not what’s “expected.”
I’m lucky in some respects,/because I knew what I wanted to do/at a very early age. When I was a little boy,/I knew for sure/that I wanted to be a taxi driver. It didn’t completely work out,/but it’s pretty close. I get to drive cars/and be around cars all the time. And if there’s one thing I love more than donuts,/it’s cars.
Toyota has been building cars/for over 80 years now,/but we actually started out/in the weaving loom business. My great-grandfather invented the automatic weaving loom. But it was my grandfather, Kiichiro,/who took us from making fabric to making cars/and created the company we have today.
I’m actually the third generation Toyoda to run our company,/and perhaps you have heard the saying:/The third generation knows no hardship,/or the third generation ruins everything.
Well, hopefully,/that will not be the case. I mean,/I did graduate from Babson after all!
As luck would have it, though,/as soon as I became CEO,/we had the great recession,/an earthquake and tsunami,/and a recall that meant I had to testify to Congress/in Washington D.C.
At that moment,/I really did want to take a job as a taxi driver!
But I’m happy to say,/we’re doing fine now,/partly because I use what I learned here at Babson/every day at Toyota. Perhaps the greatest lesson of all/was the sense of entrepreneurship/that was instilled in me here. Even with a company as big as Toyota,/I still try to think of it as a start-up company.
In fact,/one of the challenges of running a business/that’s been in your family for decades is:/“How willing are you to make dramatic change/when it’s called for?” How do you look at things objectively/and not hang on to something for sentimental reasons? How do you take the risk of making fabric one day/and cars the next?
Our industry is undergoing revolutionary change today,/as are many others. Even I can’t predict/what kind of cars we will be driving 20 years from now,/but my time at Babson taught me/to embrace change rather than run from it. And I urge all of you to do the same.
I am often asked/whether I am burdened by having the name Toyoda,/and when I was your age,/I might have said yes. But today,/I’m very proud of what the name represents/and the hundreds of thousands of people it supports/around the world.
So,/let’s fast forward/and assume you have become successful/doing what you really love. Now let me give you some advice/from one CEO to another:/
Don’t screw it up.
Don’t take it for granted.
Do the right thing. Because if you do the right thing,/the money will follow.
Try new things,/even if you’re old.
When I became CEO of Toyota 10 years ago,/I was told by one of my mentors/that I couldn’t expect to be taken seriously by our engineers/unless I really knew how to drive/at the highest level. So, at the age of 52,/I took on the challenge of training/to become a master driver. Not just so I could drive our race cars,/which I do,/much to my father’s dismay,/but so I could communicate/how I think our cars should drive/with our engineers.
The point is,/you’ve always got to be learning something new,/no matter how old you are. Never give up being a student,/because being a student is the best job/you will ever have.
Find people that inspire you:/Oprah. Yoda. Tom Brady. Your parents. Your friends. Feed off their energy!
Be a person that inspires others.
Be a good global citizen.
Care about the environment, the planet/... about what’s happening in other parts of the world.
Don’t worry about being cool/... be warm.
Decide what you stand for.
At Toyota/we have a set of values/that include integrity,/humility,/and respect for others. We call it the “Toyota Way.” And it gives our company a North Star,/a guiding light.
Find your own guiding light,/and let it inform every decision you make. Let it help you make the world a better place.
Ladies and gentlemen,/fellow students,/today is where it ends,/and today is where it all begins.
In Japan,/every time a new emperor ascends to the throne,/a new era begins. And the calendar starts over at year one. We just had a new era begin in Japan on May 1st. Every era has its own name,/and this one is called Reiwa,/which means “beautiful harmony.”
In many respects,/all of you are beginning a new era of your own,/where the clock is set back to one/... and the possibilities are endless.
I hope your era is one filled with beautiful harmony,/much success/... and many, many donuts.
Thank you very much.