Founders: #45 Built From Scratch: How A Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion
David Senra 11/5/18 - Episode Page
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.
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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]
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