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Built from Scratch :
Built from Scratch is about two businessmen who achieve the American Dream by fundamentally changing the realm of home-improvement retailing. Bernie Marcus and Arthur Blank, cofounders of the Home Depot, explain how they established the first national chain in the industry by concentrating on low prices, customer service, and strong leadership values.
Ultimately, this is a book about grit and determination. "Building the Home Depot was a tough, uphill battle from the day we started," they write. "No one believed we could do it and very few people trusted our judgment." The two cofounders launched the company only after they were fired by a California hardware retailer because of politics. The Home Depot lost $1 million in its first year of operation in Atlanta. Today it's one of the great successes on Wall Street, with more than 700 stores across the country and 160,000 employees.
One reason the book is so engaging is that it includes corporate anecdotes. A favorite: the company banned wild parties after several employees were demoted and a couple were fired in the wake of a drunken annual managers' meeting. Another yarn involves Sears, which made one of the worst financial mistakes in retailing history when it passed on a deal to purchase Home Depot in the early 1980s. The authors are self-serving at times; for example, they whine too much about paying $104.5 million to dispose of a sex-discrimination lawsuit. But there's no denying the smashing performance of Big Orange. Marcus and Blank paint a story with some sparkling advice for practically anyone in business. --Dan Ring [via]