Built from scratch is the firsthand account of how two regular guys who created one of the greatest entrepreneurial successes of the last twenty years.
Arthur and Bernie’s big break occurred after they both got fired from Handy Dan. A company they led successfully as CFO and CEO respectively. An example of a story of every failure brings with it a seed of equivalent opportunity. The book walks the reader through how they went about financing, building strategic partnerships along the way that contributed immensely to the success of the home depot; an home improvement behemoth. The key takeaway from this book is that every business regardless of the product is a people business and as such the rules of human relationship is key to success. I will recommend this book to aspiring entrepreneurs and entrepreneurs alike, where they can learn first-hand the ropes to starting and running a successful business
Opening the First Store
“What the hell happened? who screwed up the store?…..whatever time remained before the doors were scheduled to open for the first time, we sped around the forklifts, stomping on the brakes scuffing the floor so it would once more look like a warehouse.
Customer Service
If I ever saw an associate point a customer toward what they needed three aisles over, I would threaten to bite their finger. I would say “Don’t ever let me see you point. You take the customer by hand, and you bring them right where they need to be and you help them”.
Giving Back
“When the Home Depot went public we realized that we had the financial capacity and wherewithal to give back to the communities where we did business. There is a concept in Judaism called tzedaka, which means ‘to give back’.It is considered a mitzvah, a good deed, to give to someone who doesn’t have, and we believe strongly in giving back to the community”.
Selling the Vision
“We had to be psycologists, lovers, romancers, and con artist to get vendors aboard. Our ability to paint a picture of how that would take place-lowest prices, widest selection, and great customer service-was what convinced skeptical manufacturers to sell merchants to us during the early years”.
The importance of Values
“I have never had anybody work for me in retailing who didn’t work for me out of love, as opposed to fear. We carried this approach into building The HomeDepot. We car eabout each other and we care about the customer. The things that we do for customers inside and outside the stores demonstrate our commitment to them. And then when something happens within the company, we circle the wagons. We help each other.
Other Notes
The key is not to make the sale. The key is to cultivate the customer