Chapter
The Importance of Focusing on One Business
36:40 - 45:09 (08:29)
The speaker discusses the importance of putting all efforts into one specific business to be the best in the retail industry. This strategy has been used by successful companies such as Jack Welch's and General Electric.
Clips
The success of a retail store can be measured through metrics such as net promoter score, revenue per square foot, and profit per employee, but every metric has its limitations.
36:40 - 39:35 (02:55)
Summary
The success of a retail store can be measured through metrics such as net promoter score, revenue per square foot, and profit per employee, but every metric has its limitations.
ChapterThe Importance of Focusing on One Business
Episode#303: How to Do Crazy Good Turns -- Frank Blake
PodcastThe Tim Ferriss Show
The CEO of a retail business realized that to be the best in any space requires 110% effort, and they needed to get rid of any distractions.
39:35 - 42:57 (03:22)
Summary
The CEO of a retail business realized that to be the best in any space requires 110% effort, and they needed to get rid of any distractions. They decided to sell a commercial industrial distribution business and focus solely on retail.
ChapterThe Importance of Focusing on One Business
Episode#303: How to Do Crazy Good Turns -- Frank Blake
PodcastThe Tim Ferriss Show
The legal background of CEO's can be helpful in navigating deeper issues and conflicts within a company.
42:57 - 45:09 (02:12)
Summary
The legal background of CEO's can be helpful in navigating deeper issues and conflicts within a company. Additionally, the attention to detail from lawyers can be a great asset in business decisions.