How to Grow a Company to 398 Locations (The IKEA Story Part 3)

Show Notes

IKEA founder, Ingvar Kamprad gave the planet 398 IKEA stores and many words of wisdom. Listen in as Clay Clark breaks down these words of wisdom and how they can be practically used in the world of business.

Ingvar Kamprad on Leadership

NOTABLE QUOTABLES – “If there is such a thing as good leadership, it is to give a good example. I have to do so for all the Ikea employees.” – Ingvar Kamprad, the former CEO of IKEA

Ingvar Kamprad on Time Management

NOTABLE QUOTABLE – “You can do so much in 10 minutes time. Ten minutes, once gone, are gone for good. Divide your life into 10-minute units and sacrifice as few of them as possible in meaningless activity.” – Ingvar Kamprad, the former CEO of IKEA

The name IKEA comes from the founder’s initials and hometown –

Ingvar – ING-VAR https://en.wikipedia.org/wiki/File:Sv-Ingvar_Kamprad.ogg  

Kamprad – CAMP ROD

Elmtaryd Agunnaryd (Swedish home furnishings retailer; derived from founder’s initials and hometown) IKEA.

Ingvar Kamprad on Pushing Through Adversity

NOTABLE QUOTABLE – “Making mistakes is the privilege of the active. It is always the mediocre people who are negative, who spend their time proving that they were not wrong.” – Ingvar Kamprad, the former CEO of IKEA

AMPLE EXAMPLES –

  • FedEx – Over a decade from idea to profit.
  • Dyson Vacuums – 15 years and 5,127 prototypes before the first model would ultimately prove successful in 1993.
  • Amazon – 9 years to make a profit.
  • Facebook – Lost over $3 million in first 2 years.
  • ESPN – No profit for over a decade.
  • Walt Disney – lost it all twice.

 

Business Coach | Ask Clay & Z Anything

Audio Transcription

And back to a show, that’s cooler than the other side of the best business coach pillow he’s the thrive time business coach show the, business bureau provided the fuel to make. You want to go with him to start up for a big tomball that will teach you. The system to increase ship. List to optimize cells multiply the truth out of paper. My name is clark gable. Next to me, it’s easy on staples and you can too, if you unplug the cable back to the conversation. It is a drive time show on your radio. My name is clay clark and the former united states small business administration, entrepreneur of the year sit here to get you into a great financial position and we’re breaking down today. If you missed the earlier segment, we were breaking down the best business coach story of how ikea began the name ikea. Where did that begin? Will get into that before we wrap up today show but ikeawas started by ingvar kamprad in the time of world war ii at the age of 17. He realize that people were short on supplies and entrepreneurship at its core is just noticing a problem that you can solve it, so it is, and he notices the problem. The problem was people don’t have pencil spinner of matches, they don’t have seeds, they don’t have christmas trees, they don’t have the things they need because when the time so he procurity found he got the good he hustled. He bought low and sold higher. He bought low and he’s, but he sold it higher. Then after he did this consistently. He thought you know Whati’ve run into some dudes that are making furniture in the forest.

This is true story. The people who are buying or making furniture in the forest and the guys who are good at making the furniture just because you’re good at making something doesn’t mean you’re good at selling it back is usually the opposite right. So if you’re listening right now make sure you get disability right now and you are good at making something but you’re struggling to sell it. If people actually want it, if it is a real product or service that people actually like but you’re struggling to, sell it, I would highly recommend you book your tickets to our next in person. Thrive time show  best business coach workshops, we have an entire portion of the workshop devoted just to sales and marketing. Guess we teach accounting, we need to leadership, we teach all those things, but we have an entire portion to go to just to say it don’t think it was about selling. He was good selling until the age 24 he still selling he’s 7 years in a row he’s selling. He meets these guys in the forest out there in

swedenthese guys are struggling to sell the furniture. He says. I’ll sell it for you in my mail order, catalogs that cool I’ll keep them are cats in the catalog. It does well I think it’s this idea. What I have to do? I need to quit selling all this other stuff I’ve got to focus on the things make me the most money. There’s somebody out there who needs to get that idea and you’re, probably telling something right now and making a ton of profit doing this in this over here. Is it leading to that? So, if you’re not making any money selling this, then you need to make focus on making money selling that and so what happens is he begins to ship his focus and furniture videos of epiphany at the age of 26? The cursed, him. You know what I need to advertise as the best business coach, because there’s only so much word-of-mouth see most most business owners never ever get. That idea tablet as a business coach I would argue that 9 out of 10 businesses, we worked with before running into us they’ve, never advertised right, they never done it. But if you want to be working all the time and be living hand-to-mouth, then you need to just focus on what about now. If you want to make a lot of money, you got to find a way to advertise. The top of the fastest growing companies in the world and all sorts of research will show you they spend, on average, between 5 and 11% of their gross revenue on advertising. As we start advertising in the local newspaper, which back of the day was a big deal, 10538 2017 advertising newspaper, then he makes his great best business coach experience focused on low-cost furniture. You have to assemble yourself. It’s focused on shipping things flat. It’s even get more things in a container when you ship it flat cuz, it’s not pretty simple. He build each store to be located in the middle of nowhere. So you have to drive out to it. Then he built a path. So you have to navigate the labyrinth the path of the maze in in route to buying what you want to buy it. When you burp have never been an ikea, you have to actually follow its 1 way, lanes one way away, one way and you’re following the one-way path through the store and he serve swedish meatballs, another foods that way it takes like 3 hours to shop. You can get some food while you’re there. Any selling furniture for like half the cost of anybody else-i, don’t know if you know this, but they also have a really intense eye kids area, where you can check your kid in like if you’re the church service, so that the kids can full of toys and play toys and everything so that the kids will stay there for 4 or 5 hours. If you want to hear what’s going to happen, if you were going to read the note, ingvar kamprad, yes, I’m, going to ask you to break it down for the listeners, what that means, I’ll show you a story about this principle in action.

What’s a person says if there is such a thing as good leadership, it is to give it good example. I have to do so for all the ikea employees if there is, if there is such a thing as good leadership right, it is to give a good example:i have to do so for all of the ikea employees to lead by example. Right you do what you’re supposed to do in there, for the people know that that’s the expected behavior and culture of the business expectations and communication. You say you’re going to do something and you do it. You provide the best customer service that you can and then the employees will see that that’s the way the company is built and operates, and then they will fall in line. This is a thought that I would want to put in the mind of all the best business coach listeners. Trade shows is one example. Example, I taught people how to make cold calls, and so I would sit and to my employees and make cold calls with I would sit next to my teammate. To make cold calls have been I’d say like hey I can pretty much positive. I can do to an outbound calls today and I’m, not sure when to finish. Second, your voice, but it was finished. Second to be awesome. Cuz I need some challenges in my life and i. Don’t know if anybody here wants to finish that I would I would like it. If somebody could least challenger 6 of you guys, I tell you what, if all of you, if your total sales for the day beat myself today off all five of you combined. If that beats my sales, then I’ll, take you guys for steaks now. If not, I would just like to eat a steak in front of you, and so I created this culture of competition time I switch to twitter I had a bigger team. Now it was like hey look it over here. Look at this guy, but josh is feeling and pretty soon you have 10 guys going now. It’s like you guys see this.

How far sean and josh are ahead of everybody else. Are you guys seeing this and I would just get the competition gun and that’s how it goes to cost and how you don’t know the call center is giving your team of script sitting back and not creating a culture of energy. You do not go to call center by writing a script, and it’s now basically I don’t do the calls and I’ve no one’s ever done. Two calls before, but i. Just think that you should be fired employee to get trailblazer. You kidding me quit treating their employees like best business coach entrepreneurs. If they were an entrepreneur, they would be an entrepreneur or not. They want to show a proven that they would have followed through and pat want to sit there and get beat up all day, trying to figure out what works or not. If you’re going to hire, employees show them the way know the way show the way go, the way how employees being late and then be the late guy. Oh that’s the worst. This is this is this is a fact. Yes, you’re the boss, who shows up 45 minutes late, doesn’t get serious now on the idea you just brought up of creating that culture of competition and sales, here’s an action step for everybody out there during a competition, let’s save basketball, whatever this competition football. Whatever this is there’s always a scoreboard scoreboard scoreboard, outbound calls made deals, close appointments. You got to put that up where all of the team can see and that’s how excited they should be when they’re to close these deals, it shouldn’t be a low energy. Sleepy atmosphere, we be glad your head is blinking blood right now. Oh my god, that was impressive. My man I hate. This is something that makes me crazy. I got a sporting event, it’s at osu game or know.

You came and I see people wearing the orange no issue. Fan. Oh, you oklahoma university of mehrunes, the orange team that they didn’t for school, that didn’t graduate from fruit and they don’t play on and then I see this apathy about their own life. So it’s like hey mr. Business owner. In order to get to the top of google, you have to write the most content. Get the most reviews you have to have your site can honestly compliant. So it depends be laid out the right way to make your website the most mobile comply the best business coach compliance you have the most google, co compliance right and then I say you know mr. Business owner, let’s go do it and it’s like your clients. Do we have we’re blessed work at who want to be successful. Man how’s your business, doing highest rate me to darby companies grown 20%, epic, photography, auto auction, it’s growing fantastic. Is it how’s the haircut company going elephant to remind everyone, thought I’m going to swing out the swing and miss on that one? Because I don’t come here. Everybody told me that when you say all the things are good now she want more things. Good cuz, I bring the passion I bring the boom in the boom stands for big overwhelming optimistic moment. Big overwhelming optimistic moment to put put the camera is close to my face, is popping watch this video and drive time should I come I am absolutely obsessed with closer closer closer I am fired up about having success in a business or i. Won’t do it. If you’re going to start a business has to be all don’t even get on. The field is right. People in line but running a business is like being a linebacker and you have to be absolutely 100% engaged linebacker in professional football or college football and not be into it you’re going to get destroyed man.

That’s right! You got to bring that passion. So I’m just saying:are you bringing the boom? Will you bring the poem for your marriage when you bring the pooper, your kids there’s only six apps baby you got to give enough about all six apps are all all alpha 6 of the app store here in early as you got to bring the focus for your family, your family, your face your finances, your fitness friendship, suggest you don’t turn on your smartphone into you, planned that out of your calendar every single day that I see a lot of best business coach or business owners in typically nobody does this on purpose, because it’s just you’re trying to increase revenue you’re trying to build these systems you’re busy busy, but what doctors owners rules, businesses to know when to cook the pig? So if you are creating this competition, you are setting goals and you’re setting expectations when the team gets into the endzone celebrate with them snowing to cook the pig with the team because they need that in their lives. There’s a party going on right here! What’s the next! This is a really good I’m excited to break it down. He says you can do so much in 10 minutes time. 10 minutes once gone, are gone for divide your life in the 10-minute units and sacrifice as few of them as possible in meaningless activity, a ton of stuff done in those 10-minute gas trip. Can you explain the little things I get done in 10 minutes, 10 seconds 30 seconds to minutes whatever it is, there’s something on there on that to-do list. That requires that amount of time, and he just goes and attacks it instead of sitting back and waiting for things to get done because they won’t get done, they’ll drift, encouragement to an employee follow-up call just anything that needs to get done.

It’s just got to be on that list or you’ll forget about it. It’s so important. We come back we’re breaking down the words of wisdom and the notable quotable is from ingvar kamprad, the founder of ikea. Where is that name? State 8 motorcycle get ready to ever hear that thrive. Time show 3, 2, 1, boom, greetings thrive best business coach nation and welcome back to the drive time show on your radio and podcast download. If you want to get a video of a glimpse at today show, if you want to watch the video archive, we have thousands and thousands of videos that are archived at drivetime show.Com interviews with the nba hall of famer david robinson. We have a video trainings with lee cockrell, the former executive vice president of walt disney world resorts. We have exclusive content, you can’t find anywhere else, and it’s just $20 a month. Your first month is just a dollar so check it out today by going to thrive time, show.Com and now back to the notable quotables. If you missed the the timeline of a founder of ikea, you can get it at drivetime show.Com by clicking on the podcast, but never getting into breaking down the notable corables from ingvar the founder of invar conrad, the founder of ikea notable quotable is making mistakes is the privilege of the active. It is always the mediocre people who are negative to spend their time, proving that they were not from I have found that so many people have all these awesome business ideas, but so few of people actually do them, because most people are so afraid of what other people would think now this is this is us again. This is moving from bitterness to betterness. This is turning your purse into a gift. It’s just a thought, because I started as a kid I was picked on made fun of harassed all the time as I began to speak more articulately as a best business coach kid I saw people of a sudden one day, my friend cuz I’m kind of funny, so it because I’m kind of funny, if you want to be my friend, i, guess, I’m a funny guy I like to have fun, and so people would be like hey man, we should hang out put a lot of same people made fun of music it so as an adult i. Never not one time. Not of this show never on the show.

I’ve, never thought I would see what people want me to say. That won’t be offencive because I care about what they think, and so the listeners listen to the show. If you listen to the show pretty about time, we are hundreds of thousands of you who download the podcast. You know that I’m guaranteed to probably irritate you at least once a show and then supported with a fact right. So what are the facts? I’m going to give you right here. This is a fact that plays on the show. Nazis are facts. Facts ingvar, kamprad started ikea at the age of 17. He didn’t discover the idea of selling furniture until the age of 25 8 years long years, super 8 years he was reselling something right at the age of 25 who discovered furniture, fedex fedex was started. It took fedex over a decade to make a profit fix, william dyson with the dyson vacuum it took him over 11,000 failed experiments to make it work. It was on. It took amazon 9 years to make a best business coach profit facebook facebook is it face? How are you, how are you what was that facebook facebook facebook face? How are you saying that I think are you booked face? I’ll tell you that I don’t use facebook facebook facebook facebook lost 3.63 million dollars in the first two years. Espn didn’t make a profit from what’s the decade espn walt disney lost it all twice:henry ford lost it all. 5 * 5, * wow, this one x losing money, I mean sydney.

So you think about these things. You start to say what was the point of this I’m saying this you’re too big epiphany to get from this one only gain strength through struggle, that’s a powerful! Why do you only gain strength through struggle? So you don’t get in shape by going to the gym and staring at the weights for the more you don’t get in shape by thinking about all the different strategies you just have to go work out. It’s such a good metaphor for your business i. Believe it’s the same thing as growing your body. Getting in to operate optimized. You can’t steer a parked bus. You can’t steer apart bus I mean you might want to steer apart the bus, but you can’t because it’s like hard to kind of hard to steer that we all right, if you’re not going anywhere and if you’re not going anywhere. What’s the point of steering it. So this is when you turn it on, you can have to warm it. Up. Mercola can’t afford to heat my best business coach house I’m a bit and it’s like. If you heard of us, move it song. This thing is the slowest moving thing ever right. It’s hard to move the buttocks light energy, a lot of gas listing right now that you are going so fast. You feel like you can’t steer it there. So many other cuz I feel I’m going so fast. I feel like it’s like dangerous I’m, going 75 miles an hour I’m in dallas I’m, going up over that massive, the giant, overpass, the giant, overpass and I and I am scared that I’m going to go off the edge I’m going to rain, but the majority of people their dreams die due to procrastination and fear, and so you are just sitting in that bus going when I don’t know where I want to go. I don’t know where I want to go. I, don’t know where I want to go. Where should I go? Where should we go so we don’t I started it might bring out which we thought I’d like to go and I’d like to go to barbados I’d like to go out or jamaica or like to go to hawaii like to go. Where is the deal you have to take the bus, my friend to an airport somewhere, then richard would be on the airplane to get you to the new location. When you get to location, we have to get on a cab or taxi ride. Another vehicle to then get to the hotel stop on a boat to go. Enjoy the vehicles, so the business you’re doing now might not to do in the future right.

So we have to do what you got to go ahead and start with any going to start with what with the tools you have george washington carver, this guy didn’t know his family. He was born a slave and didn’t know his own name is on origin, but yet he was the one who developed all of the inventions used with the peanut and a sweet potato. The african americans following the ending of slavery, were given land, but they didn’t know how to farm the land without depleting it of nutrients. They were killing their own land because the cotton was taking all the nutrients. You can’t plant the same crap year after year after year, over and over they weren’t educators, didn’t know why and george washington carver, some hey. If you plant sweet potatoes, not only are they good for the human body, but they will replenish the soil with those nutrients, and now you you can plant whatever you want on it the next year, and he did that without a parent without knowing his name haven’t been born a slave about to go to sleep. So what? What is your excuse? You like he has a lot of words of wisdom. He’s got a compound, has another best business coach notable quotable. What is this next, when he says the most dangerous poison? Is the feeling of achievement? The an issue every evening think what can be done better tomorrow? That’s a good one. You could be doing that so the only way that I know that every single is no could take right now this is a guaranteed. This is a lock. Every single listener can save. Money is if you go visit, our good friends at onyx chuck. What is their website? Onyx, imaging.Com, onyx imaging.Com at ony, x and their phone number is 918-627-6611. Business owner will save money and you could at least say 5 to 10% off of what you’re paying now for all those office supplies go visit their website today

Feedback

Let us know what's going on.

Have a Business Question?

Ask our mentors anything.

Reserve Your Seat

Attend the world's best business workshop

  • Credit cards accepted

Get More Info

Learn more about the world's best business workshop

Get Started

Your first month is ONLY $1!

Get Started

Schedule your FREE 60 minute coaching session

Get Started

Schedule your FREE 30 minute coaching session

Don't miss out

Watch the rest of this video and get access to thousands of other online trainings by signing up for an account. Get Business School for $1 Go Back Home Browse More Videos

Get Your FREE eBook

Get Your FREE BOOM eBook

You will be redirected to your dashboard in a moment.