Ivy Tech Community College welcomed Stephen L. Ferguson, Chairman of the Board of Cook Group and President of French Lick Resort, and Pete Yonkman, President of Cook Group and Cook Medical, as the Keynote Speakers for their 12th Annual Cook Institute for Entrepreneurship luncheon on Wednesday afternoon.
The Cook Institute, first launched in 2010, serves as a fundraising event for Ivy Tech student scholarships. The event aims to bring the local business community together to share and learn while celebrating the accomplishments of Ivy Tech Cook Center for Entrepreneurship.
“It’s going to be telling the story about what entrepreneurship means and how that affected Cook; how it came to be,” said Assistant Director Troy Phelps, “And it’s going to be fun, these events are meant to be kind of fun so that our community can see the personal side of our speakers.”
The event began with Yonkman and Ferguson sitting casually on stage, telling stories about the rise of success for company founder Bill Cook. The story is well known in town, with Bloomington serving as the global headquarters for the business since Cook began its launch in 1963, although the unique message was that of entrepreneurship.
The Cook Medical Group employs more than 12,000 over 3 continents, producing over 900 products. The products Cook manufactures are designed for simpler and more effective options in medical treatment, innovative to provide a less invasive option for patients.
“If you have an orifice, we’ll stick something in it,” Pete Yonkman joking described the company business philosophy, filling the room with laughter. It didn’t take long for the two business veterans to set the tone and capture the undivided attention of the audience, which was a who’s who of the Bloomington business community.
Yonkman and Ferguson used that attention to drive the themes of community, relationships, and taking action in the business world. ‘Ready, Fire, Aim’ are the words used to describe Bill Cook’s theory on how business leaders need to act quickly and take some chances in order to get ahead.
“You have an idea, you get ready for it, you start to figure out ‘what am I going to do . . . Do you make a plan?’ But, at some point, you can over plan and you’ve got to fire. You’ve got to try it,” said Yonkman. He added, “and then [Bill Cook’s] point was to not overthink it, to get ready to fire, take your shot and adjust and be willing to pivot, and be able to change your plans. I think that was something he was a genius at. [Bill] understood how to do it, and that’s something to preserve. The culture is, you’ve got to take action, respond to what you get back to that action, and then try to do your best to adjust.”
Ferguson spoke about the importance of personal relationships within business, and one-on-one contact, which has become somewhat lost in this age of technology.
“Why care about community issues?” Yonkman asked Ferguson, to which he replied, “Because it was community. [Bill Cook] grew up in a small town.”
Ferguson continued to share the Cook vision for community. He described their workforce housing interests, stating that other companies were involved in the development of houses for their employees that were not designed for the long term. Fergusen described the difference between what Bill Cook accomplished was that he, “was not just building a house, but building a community . . . community that has homes, has jobs, and has schools.”
Ferguson then posed the question, “How much are we currently building for the future of the community?
The two closed with a reiteration of their themes, stating that the pace of change is terrifying, and if we don’t move fast, we will be left behind. They stressed the importance of engagement in and commitment to the community. And they concluded, exclaiming the need to create the opportunity for kids to become lifelong learners.
Ivy Tech Cook Center for Entrepreneurship excels in offering lifelong learning opportunities. While their website describes their mission as providing practical tools and resources for students, engaging the community, and fostering entrepreneurship in the region, they are a community gem, providing the expertise to help students and residents to make their business dreams become a reality,
“It is wonderful to once again have an outpouring of our business community come out and help us raise the funds and awareness for the work we do to support students and local residents pursue business ventures,” said Steve Bryant, Executive Director for the Cook Center for Entrepreneurship. “This is our Flagship annual fundraiser that assists in scholarships for those eager to become our next generation of entrepreneurs.”
The Cook Center for Entrepreneurship is yet another example of the incredible impact of Cook’s legacy in our community,” offered Eric Spoonmore, CEO of the Greater Bloomington Chamber of Commerce. “The Cook Center, in partnership with the academic and practical expertise of Ivy Tech, fosters the entrepreneurial spirit, which drives quality job growth and economic development for the entire region. These collaborations make Bloomington a place where innovators want to live, work, and have fun, and we welcome them with open arms!”
For more information on the Ivy Tech Cook Center for Entrepreneurship, please visit here.
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