(Photo courtesy of Temple Athletics)
After more than 30 years away from Temple University’s Main Campus, Lorne A. Goldberg, BBA ’91, recently returned – with wisdom, experience and encouragement to share with current students.
“I can honestly say that I would not be where I am today without Temple,” the Fox School of Business alum said.
And where is he? Some would say the formerly ranked professional tennis player is at the top of his game.
Goldberg owns and operates West Coast Capital, a private investment firm focused on small to mid-sized businesses across a range of industries like consumer services and products, restaurants and real estate.
Since founding his company in 1995, he’s completed over 40 different transactions totaling more than $750 million.
“Be curious and ask questions. Dream big, but realistic. Work harder than others around you. Stay focused and keep out distractions.”
“I love doing deals and I love to acquire,” he said to the students. “And after acquiring, I love to grow the business. It’s hard to say which one is more enjoyable, but both are challenging in their own right.”
Currently, he’s found much success in the restaurant industry, owning and operating four chains, Pei Wei Asian Kitchen, Pick Up Stix, Leeann Chin and Mandarin Express.
“After Panda Express, I’m the second largest owner of Chinese food restaurants in North America,” he told Fox School students gathered in a fifth-floor classroom inside 1810 Liacouras Walk.
But it wasn’t just his accomplishments since earning his finance degree that he came to talk about. It was also about what happened along the way that eventually brought him to Broad Street.
“Marketing and Owl Fund students spent time with Fox alumnus Lorne A. Goldberg, BBA ’91, during his recent visit to Temple University’s Main Campus.”
(Photo courtesy of Temple Athletics)
From courts to college
Growing up in Montreal, Goldberg was a multi-sport athlete, but tennis quickly became his passion.
At the age of 12, he was the top-ranked junior player in Canada and had won a national championship. Over the next couple of years, he went on to win three additional junior championships.
He trained at the prestigious Bollettieri Academy (now IMG Academy) in Florida and later earned a tennis scholarship to the University of Miami.
Despite his success on the court, the intense travel and training at Miami took its toll.
“My grades suffered,” he said. “And at the end of the semester, I realized I wasn’t good enough to ever play pro. I was ranked 763 in the world when I was 18 as a professional, but honestly, it wouldn’t get you a cup of coffee.
“So, here I was at 18, lost and confused with no direction. I didn’t know what to do. My identity to this point was tennis. For the first time in my life, I began to ponder my future. Do I go to school? Should I teach tennis? It was truly a difficult time.”
Goldberg connected with a friend from the Academy who was playing tennis at Temple.
“He thought that the coach would be excited to have a player of my caliber join the team,” he shared. “He was right. I received a full scholarship to play for Temple. I played number one singles, but tennis was not as demanding, and I had time to study.”
“Don’t be average or complacent. Always look to elevate. Be around positive people. Pressure is a privilege. Never say I can’t.”
Change in priorities
He admits that in the past, school wasn’t a top priority. But he was ready for a change.
“Before attending Temple, I read about mergers and acquisitions and investment banking,” he said. “This led me to major in finance. Reading about business became my new sport.
“I literally lived in a library six hours a day, seven days a week to catch up on lost time. I channeled my tennis work ethic into my studies. Because I never took school seriously, I had to work harder than everyone.”
Driven by curiosity, Goldberg dove in and learned everything he could about finance.
“I would arrive to class at 7 a.m. to read the Wall Street Journal front to back. I read Forbes, BusinessWeek and watched the financial news channels. I fell in love with business and graduated Temple with honors.”
Added success came with hard work and dedication.
“After graduating from Temple, I moved to Los Angeles to become a financial analyst for a large real estate investment company,” he said. “I was always the first to arrive, and the last to leave the office. I worked 7 days a week, not because I had to but because I wanted to learn and grow.”
Three years later, he made the decision to leave and start his investment company.
“This work ethic and ambition must have come from my time at Temple and the Academy.”
“Lorne A. Goldberg, BBA ’91, also spent time with Fox faculty and staff during his first trip back to Main Campus after graduating more than 30 years ago.”
(Photo courtesy of Temple Athletics)
Connecting is key
During a Q&A with the students, he shared that he’s a bit concerned about their generation. He fears that there is a lack of personal communication that is necessary to succeed not only in business but in anything they wish to do.
“I was very much a people person,” he told students, encouraging them to step away from technology and really learn to connect authentically with people.
He shared that many of his early networking opportunities came on the tennis court as he was building his business, making those connections and learning from others. He believes that experience has helped him become a better leader for his team.
“I have 3,000 employees, but what do I do for a living? I connect with people. I champion people,” he said. “I make people better every day. That’s my goal as the CEO and the owner.”
Advice for the next generation
Before leaving, Goldberg shared some well-honed wisdom, reminding the students that failure often leads to great things. While his dreams of being a tennis champion like his Academy classmate Andre Agassi didn’t materialize, he has “zero regrets” about where life and his experiences have taken him.
He’s found his success in a different way.
“I have a 27-year-old daughter and a 25-year-old son who are doing well in life, who both work in finance, a lot like you guys. I would always say to them, if you want to succeed in life, follow these rules:
“Make mistakes. Take chances. Learn from failure. Adversity builds character.
“Don’t be average or complacent. Always look to elevate. Be around positive people. Pressure is a privilege. Never say I can’t.
“Be curious and ask questions. Dream big, but realistic. Work harder than others around you. Stay focused and keep out distractions.
“Respect others. Compliment those who perform good work. Live with honor.
Accept defeat with class.
“Don’t be late. Be authentic. Learn to sell and look people in the eye.
Laugh often.
And finally, do not let social media hijack you.”
