Mr. Lee Ackerley of Smith & Associates spoke to the Life Academy about his journey as an entrepreneur. As he displayed electronics components including memory, motherboards, and disk drives, he introduced students to the story behind his multimillion dollar company. Lee started in New York and enjoyed photography and rock music in college. He hoped to be a professional photographer but found that life sometimes has other options for us.

Success and Failures
His failure to get a job in the field of photography changed the direction of his life. Out of college, Lee decided to work at an electronics company in their shipping department while he was looking for a permanent job as a photographer. Armed with a ‘great portfolio but no professional experience’ he interviewed for a position with a sports magazine. When he didn’t get the position, the electronics company that he worked for offered him a job in sales. Selling computer chips, he found that he loved ‘making the deal’. Bringing together sellers of high tech components and volume buyers grew into a passion that he still enjoys today. He has developed Smith & Associates into one of the largest independent distributors of semiconductors in the world. With offices from the Far East, throughout Europe, Mexico and the United States.

Spawning Success
In addition to his continued work growing Smith & Associates, he and his brother have been instrumental helping other businesses grow and prosper. One of his most successful was a small cable assembly company that was eventually sold to a major New York stock exchange company, Amphenol. He has developed a model that allows employees and other potential entrepreneurs to bring their dreams into reality. With a model for success combined with financing to start the businesses, his venture capital firm has taken employees and consultants into successful businessmen in their own companies.

A Renaissance Man
High technology companies are not the only benefactors of Mr. Ackerley’s success. He is also involved with horse racing and has stables in Kentucky where he has had excellent ‘luck’ with racehorses. He has also helped start a business selling high-end aquarium systems in the Houston area.

Corporate Responsibility
Mr. Ackerley has shared his success with many community organizations through corporate and individual contributions. He is very active with his family and their schools. His time and support of programs at The Monarch School over the past five years has helped many students’ lives as they find their own path to success.

For more information on Mr. Ackerley and Smith Industries, visit www.nfsmith.com.