#45 Built From Scratch: How A Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion
Founders5 Marras 2018

#45 Built From Scratch: How A Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion

What I learned from reading Built From Scratch: How A Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion by Bernie Marcus and Arthur Blank. --- The creation of The Home Depot began with two words: "You're fired!" [0:01] Blinders on focus on the customer [5:45] Learning how not to manage people from Ming the Merciless [8:37] Meeting Ken Langone / the prehistory of Home Depot [11:00] 81% private / 19% public partnerships [18:40] Ken sells to Ming. Predicts Ming will fire Bernie [28:30] Getting fired was the best thing that ever happened [35:00] Bernie Marcus at 49 years old: little cash and a ruined reputation [38:15] How Bernie Marcus walks away from Ross Perot [38:50] The importance of equity [49:19] Do not work with people who don't know how to care about other people [51:00] How they got the money to open The Home Depot [55:30] The critical importance of selling at the right price [58:32] Knowing the right way to do something by seeing it done the wrong way [1:08:54] Mistakes can teach us we're never as smart as we think we are [1:11:25] ---- Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

Jaksot(440)

#390 Rare Steve Jobs Interview

#390 Rare Steve Jobs Interview

I've read this interview probably 10 times. It's that good. Steve Jobs was 29 when this interview was published, and with remarkable clarity of thought Steve explains the upcoming technological revolu...

4 Kesä 202540min

#389 The Founder of Jimmy Choo: Tamara Mellon

#389 The Founder of Jimmy Choo: Tamara Mellon

When Tamara Mellon’s father lent her the seed money to start a high-end shoe company, he cautioned her: “Don’t let the accountants run your business.” Little did he know that over the next fifteen yea...

26 Touko 202555min

#388 Jeff Bezos's Shareholder Letters: All of Them!

#388 Jeff Bezos's Shareholder Letters: All of Them!

(I fixed the audio and uploaded a new episode!)  "To read Jeff Bezos’s shareholder letters is to get a crash course in running a high-growth internet business from someone who mastered it before any o...

15 Touko 20251h 19min

A conversation on focus and finding your life's work

A conversation on focus and finding your life's work

My friend Patrick O’Shaughnessy asked me to come to New York and record a conversation. Patrick had just finished listening to episode #383 "Todd Graves and his $10 Billion Chicken Finger Dream" and h...

9 Touko 20251h 22min

#387 Jim Simons Built The World’s Greatest Money-Making Machine

#387 Jim Simons Built The World’s Greatest Money-Making Machine

Jim Simons never took a single class on finance, wasn’t interested in business, and didn’t start trading full time until he was 40. The company he founded —  Renaissance Technologies — has made over $...

1 Touko 20251h 8min

#386 Akio Morita: Founder of Sony

#386 Akio Morita: Founder of Sony

Akio Morita was a visionary entrepreneur and co-founder of Sony. Born as the first son and fifteenth-generation heir to a 300-year-old sake-brewing family in Japan, Akio eschewed the traditional path ...

22 Huhti 20251h 11min

#385 Michael Dell

#385 Michael Dell

This is one of the most extraordinary founder stories you will ever hear. Michael Dell started his company with $1000 when he was 19 years old. The revenues for the first 16 years of Dell look like th...

14 Huhti 20251h 48min

#384 Ken Griffin: Founder of Citadel and Citadel Securities

#384 Ken Griffin: Founder of Citadel and Citadel Securities

Because of the podcast I get to meet a lot of super successful people. I'm always asking them "Who is the smartest person you know" and "Who do you think has the best business?". "Ken Griffin" is a ve...

1 Huhti 20251h 6min

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