Speed as Compounding Advantage

“Another thing I don’t have to mess with is dealing with stockholders and all the federal and state paperwork of being a public company. We’re still family-owned, which keeps life a whole lot simpler. When my wife and kids and I decide to make a business move, we don’t have to ask Wall Street about it.”

“Retailing, at least in my personal view, has four keys. And the sequence is important. They are: 1. Run your business in harmony with God’s laws. This will keep you on an ethical footing. Seek to please God in everything you do. 2. Focus on people more than money. Without employees and customers, you’re going nowhere. Make sure you never stop thinking about the customer’s perspective. And make sure you have the right people at the helm of each area. 3. Be a merchant. Notice, I didn’t just say “businessperson.” That’s too generic. Your core activity is buying and selling merchandise.That’s what it’s all about. The rest is periphery, or even distraction. 4. Install the proper systems to support the first three keys.”