Sol Price Part VIII: Principle of Success: Master the Details
Many analysts have called Price Clubs the most important retail idea of the past quarter century. What does Sol Price think about that?
"The idea counted for very little; the execution was almost everything."
What does Mr. Price mean by "execution"?
Well, let's say it's 19754 and you've got the idea for Price Club. Good for you!
But now come the details. Which piece of undeveloped land? How exactly do you set those razor-thin markups? How do you persuade manufacturers to supply you when they're afraid of losing their regular outlets? Where do you find the quick-witted managers needed to run the new stores? Details matter in making any idea work, but in making a business idea work, they're decisive.
Excerpted from
The Great American Idea Book: How to Make Money from Your Ideas for Movies, Music, Books, Inventions, Businesses and Almost Anything Else!
Authors: Bob Coleman & Deborah Neville
Publisher: WW Norton
Copyright: 1993; 1995
All Rights Reserved
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