Adam Smith ('98 BBA)

Tell us about yourself!
I was born in Arlington and live in Westlake with my Rhodesian Ridgeback, Walter.

Why did you choose to attend UTA?
I attended college while working full-time to open my first business, a Harley-Davidson dealership. The dealership opened in the spring of 1996, two years before my 1998 graduation. I chose to attend UTA because it was conveniently located near my home and the Grand Prairie dealership. Additionally, UTA's programs were tailored toward working adults, which allowed me to balance my college studies with my full-time job and entrepreneurial pursuits.

What did you study at UTA? What attracted you to that/those field(s)?
At UTA, I pursued a degree in business administration. I was drawn to this field because of my entrepreneurial goals. This degree provided me with a solid academic foundation in various essential areas of business, including general business administration, accounting, finance, and marketing.

Describe your UTA experience. How did UTA help prepare you for your career?
UTA was a practical choice for me, as it provided valuable opportunities to learn the essential skills needed to run a successful business. Being close to home and work allowed me to balance my academic pursuits with real-world experience. I appreciated UTA's focused learning environment, which minimized distractions and fostered serious academic engagement.

UTA’s business administration program helped me develop a strong foundation in business principles and equipped me with practical knowledge that I could apply directly to my entrepreneurial endeavors. The coursework was instrumental in shaping my career trajectory and provided me with the skills and knowledge I needed to succeed in business.

Describe your path to your current position. What have you learned along the way?
My journey to my current position began when I opened my first Harley-Davidson dealership in Grand Prairie at the age of 22, while still a UTA student and with a modest net worth, making me the youngest Harley-Davidson dealership owner. I ultimately grew the business, Calculated Risk, to six Harley-Davidson dealerships, distinguishing myself as one of the very few Harley-Davidson dealership group owners in the country. Subsequently, I evolved the Calculated Risk brand from dealer ownership/management to an investment business offering dealership and small-to-mid-size business advisory services and real estate investment opportunities.

In May 2022, I closed the sale of the eight Calculated Risk dealerships (six Harley dealerships and two pre-owned motorcycle dealerships) to Navigant Oak, LLC, a private holding company. The sale to Navigant Oak represented one of the first dealership acquisitions by a financial buyer in the Harley-Davidson arena. Previously, the parent company typically prevented family offices, private equity investors and publicly held companies from acquiring dealership franchises. However, in my role as 2018 president of Harley-Davidson’s Dealer Advisory Council, I successfully worked toward relaxing ownership restrictions to facilitate growth opportunities for all dealer owners.

Despite divesting a majority stake in my business, I retained 20% ownership of the dealerships and secured a seat on the board of directors of Navigant Oak Furthermore, I continue to serve as an advisory board member for various companies.

Throughout my entrepreneurial journey, I've found that focus, curiosity, and discipline have been indispensable traits. These qualities not only propelled my business growth but also enabled me to navigate challenges effectively. Sharing these lessons with young entrepreneurs and students, particularly at UTA, has been immensely rewarding.

Can you share any defining moments in your career that inspired you to continue your work?
I closed a 31-year chapter of my entrepreneurial career when I sold 80% of my business and that marked a transformative moment in my entrepreneurial career. Despite this milestone, I remain inspired to support future entrepreneurs. Even if my experiences can positively impact just one aspiring entrepreneur, I consider it a meaningful success.

What's one lesson you learned at UTA that has stayed with you still today?
A crucial lesson I garnered from my time at UTA is the importance of perseverance. I would encourage students to keep grinding away at their classes until they graduate. Regardless of the obstacles encountered, persisting until graduation is paramount. Additionally, I emphasize the significance of understanding financial principles, particularly accounting, to avoid potential pitfalls in business endeavors. Mastery of concepts such as profit and loss statements, balance sheets, and cash flow analysis is indispensable for sustainable success in entrepreneurship (and to avoid the frustrating “why don’t I have any money when my profit and loss statement shows I made so much money!”).

What message do you have for the next generation of UTA graduates?
My advice to upcoming UTA graduates revolves around the essential virtues of focus, curiosity, and discipline. And Instagram and TikTok are lying to you: contrary to the glamour often portrayed on social media platforms, success demands dedication and hard work. It’s a grind, and you better like the grind because the reward for good work is more work.