When asked about their on-court success, many elite athletes – especially basketball players – will credit these two things: watching Michael Jordan play, and being inspired by Kobe Bryant’s mentality (aka the “mamba mentality”).
Why mention this fact?
Because it illustrates that successful people inspire successful people.
With the goal of inspiring you, the Legacy Retail team has gathered quotes from, or statements about, the founders of the most successful US retail companies.
To learn more, you are invited to keep reading.
Revenue: $585.20 Billion
“Control your expenses better than your competition. This is where you can always find the competitive advantage.” – Sam Walton, Founder
The takeaway – sometimes, the only difference between you and your competitors is discipline and knowledge with capital.
Revenue: $352.70 Billion
“The special ops guys and the firefighters around the world have this great phrase. They say, ‘Slow is smooth, and smooth is fast,’ and that is true. Everything I’ve accomplished in my life has been because of that attitude.” – Jeff Bezos, Founder
Slow down. Be thoughtful regarding your plans and strategies. It eventually breeds velocity.
Revenue: $219.20 Billion
“You just can’t get too focused on worrying about what’s going to happen in the next quarter. You have to worry about where the business is headed long-term.”
– James Sinegal, Co-founder
It may sound counterintuitive, but keeping your eye on long-term goals is key to overcoming immediate obstacles.
The Home Depot
Revenue: $157.30 Billion
“Pat never let a customer out of the store empty-handed, period. If there was something they needed that we didn’t have, such as a quart size, he would give them the gallon size for the quart price. Pat believed you didn’t let a customer leave The Home Depot without satisfying them in some way.” – Bernie Marcus, Co-founder
No matter what, you find a way to satisfy your customers’ or clients’ needs. This is the bedrock of customer loyalty.
Revenue: $124.30 Billion
“And while Walgreens was no more immune to the dire effects of a shrinking economy than other American businesses, it persevered. [Charles R.] Walgreen continued to come up with new, important ways to serve customers and – just as importantly – employ thousands of people during this period of extreme economic distress.” – Walgreens Co.
Constantly innovate with the satisfaction of your customer in mind. This is the key to uncommon success.
Legacy Retail is a team of CPG advisory specialists with extensive experience across the value chain. Our mission is to provide great brands and manufacturers with an affordable way to level the playing field. We enjoy a direct vendor-partner relationship with many of the leading retailers today: Walmart, Costco, Home Depot & Target to name a few. To contact us, click here.