Lawn Care Business Forum Lawn Care Business Book Lawn Care Business Blog Lawn Care Software
Home Forum Contract & Flyer Templates Blog Software Videos Podcast Calculators / Estimators Store Mower Review Design It Yourself Lawn Business School

Go Back   GopherHaul Landscaping & Lawn Care Business Marketing Forum > Business > General Business Discussions

General Business Discussions A place to talk about general business discussions.

Gopher-preneur book of the month


General Business Discussions

A place to talk about general business discussions.
Reply
 
Thread Tools Search this Thread
  #1  
Old 04-04-2005, 11:42 AM
Steve's Avatar
Steve Steve is online now
Administrator
 
Join Date: May 2003
Posts: 36,504
Rep Power: 10
Steve has disabled reputation
Default



Gopher-preneur book of the month, April '05, Built from Scratch : How a Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion

Home Depot was started by Bernie Marcus and Arthur Blank. They had both recently been been fired from another home improvement chain when a friend, Ken Langone, told them this was their chance to make the company they always dreamed about. Neither of them had much in the way of savings and because they were older, they felt their job prospects weren't too good. They were also pretty scared of losing everything they owned if they didn't start making money soon. Ken told them again, now was their golden opportunity to start The Home Depot. Ken believed in Bernie and Arthur's management abilities so much, he was able to raise about two million dollars from investors to start the company.
In 1977 the average markup on products in home improvement stores was 45%. The selection at most stores was limited. The world was waiting for someone to step up to the plate and make things better. The first store opened in Atlanta, Georgia in June of 1979. The store offered a selection people just couldn't believe, a vast warehouse of home improvement products all under one roof. What a great idea! In the beginning, The Home Depot would advertise sales in newspapers that offered a few products steeply discounted to attract customers to their stores. The sale products would quickly sell out and the stores would empty of customers until the next big sale came along. Trying to find a way to break this cycle Bernie and Arthur met with Sam Walton, founder of Walmart. Sam told them he had been down their road in the past. Sam said instead of only getting customers in their stores for the sales, why not drop their prices and lower their markup to offer customers low prices all the time. This would help Home Depot sell more and sell more often. And you know what? Sam was right. The Home Depot adopted this strategy and put many other home improvement retail chains out of business. Stores like Somerville Lumber, Grossman's, HomeQuarters, Channel and Rickel's just couldn't compete. As time went on, The Home Depot expanded it's product line to over 40,000 items and has improved it's ability to reach out to a diverse customer group by offering in store how-to training.
The Home Depot now has over 320,000 employees working at 1,800 stores, with a new store opening every 48 hours on average. This company is a great monument to capitalism at work. Thank you Bernie, Arthur and Ken for helping us improve our homes and our lives.
If you are interested in learning more about Home Depot please read this book "Built from Scratch : How a Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion" by Bernie Marcus, Arthur Blank, Bob Andelman, we did!
__________________
- Subscribe to my Lawn Care Marketing Blog Feed and get daily tips sent to you. Free!
Download your Free trial of Gopher Lawn Care Software.
Reply With Quote

Stop guess-timating. Learn how to estimate and make money! $$$
Mow Time Estimator Lawn Care Price Estimator Mulch and Topsoil Calculator Snow Plow Estimate Calculator


Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump

» Recent Threads
  RatingTitle, Username, & Date Last Post Replies Views
Pressure Washing Like a...
TNTurf
08-01-2014 11:47 PM
Yesterday 11:12 PM
by TNTurf
7 659
Hello, from TEXAS
sanchez5
10-17-2014 09:56 PM
Yesterday 10:44 PM
by sanchez5
5 301
Dealing With Gas Can...
Mr. Mow
Yesterday 01:41 PM
Yesterday 08:23 PM
by Sprinkler Buddy
2 88
Leaf Box & Loader Set...
ringahding1
Yesterday 06:20 AM
Yesterday 07:22 PM
by ringahding1
2 95
Organic Lawn Care...
NHray
10-17-2014 06:05 PM
Yesterday 05:47 PM
by NHray
2 282
Hi Steve From West...
Mr. Mow
Yesterday 01:59 PM
Yesterday 01:59 PM
by Mr. Mow
0 55
Cheapskate Landlord...
Mr. Mow
10-20-2014 06:33 AM
Yesterday 01:50 PM
by Mr. Mow
8 216
What parts do you carry...
Just for Cuts
10-17-2014 09:08 AM
Yesterday 01:36 PM
by Mr. Mow
16 573
Jungle to Beautiful
stevef1201
10-17-2014 09:54 AM
Yesterday 01:26 PM
by stevef1201
11 410
These are the days on...
ExtremeLawncareServices
03-22-2014 09:12 AM
Yesterday 01:19 PM
by ExtremeLawncareServices
158 11,245
Sunny Beach Tennis...
SGL1
10-19-2014 11:24 PM
Yesterday 01:04 PM
by SGL1
4 184
Have you ever had to...
SouthernRootsLawnCare
07-26-2014 02:41 PM
10-20-2014 08:34 PM
by biglee
10 1,730
Look out Bob Villa -...
Mr Dave
09-30-2014 10:06 AM
10-20-2014 05:42 PM
by SGL1
7 1,242
how to fi d commercial...
mchampion319
10-19-2014 09:50 PM
10-20-2014 04:41 PM
by Steve
1 155
Hello From Tennessee
mrmann901
10-17-2014 10:02 PM
10-20-2014 04:24 PM
by Steve
1 230
questions on order to...
jack2048
10-13-2014 11:15 AM
10-20-2014 03:27 PM
by Mr. Mow
15 663
This sucks...
Matther777
09-18-2014 04:56 PM
10-20-2014 02:14 PM
by Steve
14 2,107
Cement mixer
KevinsLawns
10-15-2014 08:03 PM
10-20-2014 02:11 PM
by Steve
7 405
Hello ! New guy Rob here
RWorthley1
10-17-2014 04:05 PM
10-20-2014 02:09 PM
by Steve
1 243
first year update
cmdlawncare
08-12-2014 05:41 PM
10-20-2014 02:07 PM
by Steve
3 1,231
Pda
stevef1201
10-18-2014 02:05 PM
10-19-2014 11:27 PM
by SGL1
2 223
Snow Blowing
gwilson98
10-12-2014 02:21 PM
10-17-2014 02:51 PM
by Steve
6 587
Spreading Weeds?
WesleySnips
07-27-2014 09:46 PM
10-17-2014 07:49 AM
by SGL1
6 889
Grasswhoopins.com Anyone...
GRASS WHOOPINS
06-21-2011 11:38 PM
10-16-2014 01:30 PM
by ExtremeLawncareServices
42 9,244
I Want to buy old...
ExtremeLawncareServices
10-10-2014 10:04 PM
10-15-2014 09:12 PM
by ExtremeLawncareServices
6 626
Say Hello !!!
Steve
03-19-2007 11:18 AM
10-15-2014 06:43 PM
by NHray
1,190 339,971
Workmans compensation...
CDLAWNCARE
10-15-2014 08:05 AM
10-15-2014 02:57 PM
by Steve
2 371
Do you find weed eating...
chuck2s
10-15-2014 02:10 PM
10-15-2014 02:10 PM
by chuck2s
0 342
Incorporating &...
WesleySnips
10-01-2014 09:39 PM
10-15-2014 01:37 PM
by kslawn
20 1,431
Falling into business
stellarmowing
09-28-2014 04:35 PM
10-15-2014 05:57 AM
by ringahding1
8 1,451
Apartment Complex and...
lxarth
06-22-2011 01:10 PM
10-14-2014 06:25 PM
by jrs.landscaping
42 9,536
I LOVE hedge trimming
stevef1201
10-13-2014 09:05 AM
10-14-2014 01:06 PM
by Steve
5 471
Help with seeder...
ExtremeLawncareServices
10-09-2014 07:39 AM
10-13-2014 08:09 PM
by ExtremeLawncareServices
5 636
The Market watch
WesleySnips
10-12-2014 08:47 PM
10-13-2014 05:40 PM
by SGL1
3 474
Help pricing a large...
Bradcook21
10-07-2014 06:49 AM
10-13-2014 02:00 PM
by Steve
7 822
leaf removal
Double J LLC
10-03-2014 04:24 PM
10-13-2014 06:46 AM
by Billy Goat
19 1,453
Acerage Rake
acrajchel
04-23-2014 07:23 PM
10-12-2014 10:53 PM
by SGL1
2 786
John Deere z235 Deck
WesleySnips
09-29-2014 06:02 PM
10-12-2014 06:20 PM
by kslawn
25 1,594
Credit card contract
SGL1
10-06-2014 05:31 PM
10-12-2014 03:40 PM
by SGL1
18 1,009
Truck craft dump bed...
ExtremeLawncareServices
10-04-2014 08:41 PM
10-10-2014 11:35 AM
by Steve
7 914
First Time River Rock...
berryjam
10-09-2014 06:09 PM
10-10-2014 11:08 AM
by Steve
2 566
West cost lawn prices
SGlawncare
10-09-2014 09:51 PM
10-10-2014 11:03 AM
by Steve
1 552
Question?what should I...
dalvan0
09-24-2014 11:10 PM
10-09-2014 05:58 PM
by kslawn
28 2,085
Mowing the hills
EyeCatchersNow
07-08-2014 12:22 PM
10-09-2014 04:19 PM
by Just for Cuts
25 2,953
snowplowing
jshak40
09-01-2014 07:20 AM
10-09-2014 02:21 PM
by Steve
25 3,596
Changing Scag Freedom Z...
maggiedavidson
10-06-2014 12:24 PM
10-08-2014 06:34 PM
by ExtremeLawncareServices
7 799
The most dangerous part...
Steve
10-06-2014 02:45 PM
10-07-2014 04:18 PM
by ExtremeLawncareServices
3 778
Good Mower
jack2048
10-04-2014 05:34 PM
10-07-2014 01:05 PM
by Steve
7 862
Mulching fad killing...
Tree geek
10-06-2014 08:37 PM
10-06-2014 08:37 PM
by Tree geek
0 684
Help a brother...
tbtigers03
09-28-2014 11:41 AM
10-06-2014 02:53 PM
by Steve
11 1,409
» Popular Tags
4wd apartment complex article marketing auger bark bid blades bob villa care charge collections collections subcontractor decorating ditches edging employee problems equipment rental estimate exmark ferris four wheel drive fundraiser gopherhaul gravely growing a lawn care business hardscapes how much to charge husqvarna installation introduction kawasaki landscape services lawn lawn care lawn care business lawn care business seo lawn care business show lawn care business website lawn care business website seo lawn care website marketing mr dave mulch new mower past due podcast promotion pto redmax reo running a business scag search engine optimization seo small engine repair snow sprayer starting a business steep lawns steve stihl theft of services top dresser toro toro grand stand trailer trimmer rack turfgrass consulting walker wood
Powered by vBadvanced CMPS v3.1.0

All times are GMT -5. The time now is 02:43 AM.


(C) 2011 Riggs Publications - Terms of use & Privacy Policy

All times are GMT -5. The time now is 02:43 AM.

(C) 2011 Riggs Publications - Terms of use & Privacy Policy