Founders

What I learned from reading Built From Scratch: How A Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion by Bernie Marcus and Arthur Blank. ---Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---The creation of The Home Depot began with two words: "You're fired!" [0:01]Blinders on focus on the customer [5:45]Learning how not to manage people from Ming the Merciless [8:37]Meeting Ken Langone / the prehistory of Home Depot [11:00]81% private / 19% public partnerships [18:40]Ken sells to Ming. Predicts Ming will fire Bernie [28:30]Getting fired was the best thing that ever happened [35:00]Bernie Marcus at 49 years old: little cash and a ruined reputation [38:15]How Bernie Marcus walks away from Ross Perot [38:50]The importance of equity [49:19]Do not work with people who don't know how to care about other people [51:00]How they got the money to open The Home Depot [55:30]The critical importance of selling at the right