Learning From The IKEA Founder (The IKEA Story Part 4)

Show Notes

What do women want? Women are responsible for the majority of consumer spending so Ingvar Kamprad (IKEA Founder) believes we ought to have more women in various management positions.

Ingvar Kamprad on Women in Business

NOTABLE QUOTABLE – “We ought to have more women in various management positions because women are the ones who decide almost everything in the home.” – Ingvar Kamprad, the former CEO of IKEA

MYSTIC STATISTIC – Women make the decision in the purchases of 94% of home furnishings…92% of vacations…91% of homes… 60% of automobiles…51% of consumer electronics

  1. The Female Economy
    1. https://hbr.org/2009/09/the-female-economy

FUN FACT – Dyson Vacuums – 15 years and 5,127 prototypes before the first model would ultimately prove successful in 1993

Ingvar Kamprad on Excellence

NOTABLE QUOTABLE – “The most dangerous poison is the feeling of achievement. The antidote is to every evening think what can be done better tomorrow.” – Ingvar Kamprad, the former CEO of IKEA

The 4 advisors everyone needs in their life – have them before you need them:

  1. Attorney – Clay’s recommendation (Does not get paid to recommend)
    1. www.wintersking.com – Call Wes Carter
  2. Accountant – Do you have a proactive accountant? Rate your accountant on a scale of 1-10
    1. If they are below an 8 then get a hold of Paul Hood at www.hoodcpas.com
  3. Financial Advisor – Make sure someone is looking at your finances and that it is making sense with your goals.
    1. Schedule a set time and set place to review your finances.
  4. Consultant / Coach – You don’t know what you don’t know.
    1. Learn from mentors and not from mistakes
    2. Be a pirate, not a pioneer.
    3. NOTABLE QUOTABLE – “The advice that sticks out I got from John Doerr, who in 2001 said, “My advice to you is to have a coach.” The coach he said I should have is Bill Campbell. I initially resented the advice, because after all, I was a CEO. I was pretty experienced. Why would I need a coach? Am I doing something wrong? My argument was, How could a coach advise me if I’m the best person in the world at this? But that’s not what a coach does. The coach doesn’t have to play the sport as well as you do. They have to watch you and get you to be your best. In the business context, a coach is not a repetitious coach. A coach is somebody who looks at something with another set of eyes, describes it to you in [his] words, and discusses how to approach the problem.
    4. Once I realized I could trust him and that he could help me with perspective, I decided this was a great idea. When there is [a] business conflict you tend to get rat-holed into it. [Bill’s] general advice has been to rise one step higher, above the person on the other side of the table, and to take the long view. He’ll say, “You’re letting it bother you. Don’t.” – Eric Schmidt (Chairman and CEO, Google)

Ingvar Kamprad on the Low Price Model

NOTABLE QUOTABLE – “To design a desk which may cost $1,000 is easy for a furniture designer but to design a functional and good desk which shall cost only $50 can only be done by the very best.” – Ingvar Kamprad, the former CEO of IKEA

Business Coach | Ask Clay & Z Anything

Audio Transcription

The world’s best business conferences is coming up with number one business coach and you did it and your contact information to input thrivetime show.Com, the whole street vendor I think it’s the whole like her haircut business, photography, business, dj, business, consulting, business, optometry, business, auto, auction, business, chiropractic, business, dog training, business, real estate, photography, business and phone store. Business doesn’t work out, I’m going to go into being a street performer. Well, I can play the wood block. I mean supposed to do. I, don’t have a block of wood with me, but I do have a laminated a cute card. You have a pinion block card, so I can all I can do. Is I can I take this. This is this nikka talking while they’re saying why doesn’t the show teach us deep things that matter? One of the things that matters is I mean I’m not going to let all the lizards escape that learning how to play the block of wood at the business conferences? So what you do is you on the street corner, everybody gather around gathering. This is incredible and play with your dream is out on the show of a lifetime you showing this show is going to be incredible. To get a chance to see this performing together. Talk loud like that, right at the attention to the street vendor buckets and he’ll just be like getting after it is, he said, he’s going to beat boxes, people thinking this might be something you know:i have a really fit guy he’s asleep. You can like do. Flips acts out. It’s all over. All these guys will be demonstrating talent, but the real talby me gorgeous baby I got a fever and the only cure is more more wood block. That’s a good signal. City steel flipping these people like dancing around and beatboxing and beat on buckets, is me and my wood block.

That’s how it’s going to happen. Woodblock, that’s how most people don’t have a backup strategy and I fully understand. We can only hope. What’s the income fraud come from more women in various management position, because women are the ones who decide almost everything in the home. I do agree with that. Oh yeah and I will say this. This is something I will say. Hopefully, women are offended by this, but what you put the statistic, consumer reports and find out what percentage of products are purchased by business conferences attendees, women every step dad ever found shows that well over half well over 60%. It sound like seven and 10 purchases are made by women and it doesn’t matter what study look at you if you won’t find what are buying a lot of stuff I mean women. We were going out to like bet, I mean you today, I come home, I go to the bathroom I noticed, there’s a there’s, a picture and I see it I’m going well and that’s what’s a sparkly picture of nothing in particular. What would that cost glad I bought it I look, there’s $200 right there, it’s $200 for the picture of nothing that has a sparkles on it. It makes it I mean, and winter I can’t help it. I want to get shutters there, wood and open up and they shut it like that. But that’s like you shut the the wooden shutter do venetian blinds. Is that a thing I think that might be a better pics all I would just say is that women are buying the majority of thanks a lot of business. Then I can tell you that globally they control 20 trillion dollars of annual consumer spending.

Where’d you get that at the harvard business review control. What 20 trillion in annual consumer spending I just know. I don’t have a lot of my buddies going. Oh my gosh I just went to lowe’s and it’s crazy. Over there. A milo’s and I got myself these days. It’s disney blinds and they go perfectly, but the problem is they don’t match the towels in the bathroom, so I had to go. Get new towels, so I went to bed. Bath & beyond. Can I stop by whole foods and I got some kale? Have you had the calla harper? That’s why I like the counter sprouts but really I switch to whole foods when I found out that there was the second hypoallergenics that were like I was buying a whole foods I was like I’m going through this pumice scrub. Have you guys seen a pile of scrap cuz? That’s like it really has removed at the rapids, from my heels, I feel like a new woman. There’s all that stuff plus, like in my case since I’m, an idiot i, wouldn’t buy any of the actual business conferences essentials that our family needed. So my wife is on top of things and share what they going to send you all that I buy yes, please I buy deodorant right, i, buy, toothpaste, i, buy mouthwash and i, buy shampoo, do i, do i, get in the shower I put mouthwash in my mouth and as I’m taking a shower I’m doing the mouthwash, then I brush my teeth, while I’m taking a shower i. Do that move? That’s why I move right, then I use shampoo, as my only cleaning agent ice to do that i! Do it as soon as my soap is my shampoo, it spits was everything at 8. Ph balance is me or onion. Balance is bill from top all the way to bottom I do I’ll, do what I have to swoop. I’ll do and I’mma tell you what I mean I used to the bottom, but I know what your hair smells. Weird thing is, though, is that what you are out there-and you are a man you usually are having a utilitarian approach to mine-thinks it’s like where to buy something that does something that’s about it. I’m going to have a card table here.

I had a business that was doing like $200,000 a year. Revenue and I have like a card table is my table. For then I would have started. I would just say, is it women are the ones who are buying the majority of things. So it’s really really important that you make sure that there’s a woman in your office who was in charge for advising the person in charge of what women want I got some more stats for you just to build this point up. Okay, business review women make the decision in the purchases of 94% of home furnishings 92% of vacations 91% of homes, 60% of automobiles in 51% of consumer electronics. That’s a lot of different categories of stuff right to have a woman who’s helping. You run your company. He doesn’t advise you, you really are missing out. Women are a source of business conferences wisdom. They really know what they’re talking about and the stereotypes of men being idiots, you know being totally uncoachable. That’s largely true. Is there a types of women having more emotional concerns than men? That’s funny, but I will tell you when you have a woman in your office who is advising what women want in your selling the women? You absolutely will do well, so they make a manager if they can do it. I have them advise a manager if they can’t but either way just have a listen to what he’s saying and have a woman I’m in charge of the business or involved in the business. At some level. My wife helps with all the accounting and she’s a fine, a fine job and speaking of people to do a fine job, I think i. Think about janitorial service. We use classic janitorial services to clean our facility. We’re going to have our next in person, drive time show workshop and we do them all over the world who are attending the business conferences april, 13th and 14th. So this week we have people, I mean traveling in from all over. The world.

She was drunk, she was coming and we want to make our office cleans its a good first impression and I also want to on a personal level as indicated earlier. I’m, not a classy man. I want are urinals to be so clean that I could drink from them. If there was a line behind the water fountain soda lime was too big. I want to be able to get in there and get what I need to get I want. I want to see baby exactly, not sure. What’s the website, it is the classic clean.Com v classic clean.Com the classic clean leave. This is their tagline that they said they’re not going to accept that you could use them as a drinking fountain go to the classic. Clean.Com attend the world’s best business workshop, led by america’s number one business conferences coach for free by subscribing on itunes and leaving us an objective review senior tickets by emailing. His group that you didn’t and your contact information to info at drivetime, show.Com, all right right, mason. Welcome back to the conversation is the drive time show on your radio in before the break. I was busting out stream of consciousness I just ate a ton of examples of entrepreneurs that took a long time to make a profit really struggle to make a profit in which is every great company struggled for a while every one of them, I was just looking at a lot of them and I want to make sure I give her a quick, a corrections like the site. Everything i, say:i had said that mr I william dyson, with the dyson vacuum into taking him over a decade and over 11,000 experiments to make the first functioning I vacuum the dyson vacuum for the first functioning vacuum or dyson vacuums, and what I wanted to make sure we get the the clarity on this? Is it actually took him 15 years so I underestimated how long it took a poop over 15 years to make a first vacuum that worked.

It took him 5127 prototypes, so I will off on that and I was actually my mind of confusing that, with the thomas edison wear time at tyson had over 10,000 failed experiments are getting william dyson to him 15 years and 5127. He proved the ultimate successful with the vacuum:real quick on that. No we’re just talking about this mindset of entrepreneurship right. If you do the math on that 15 years and 5127 prototypes, that averages out to 342 prototypes a year, that’s almost 1 everyday. This is the founder of ikea, we’re breaking down the life and times of ingvar kamprad, who started at the age of 17. He didn’t begin selling furniture to the age of 25 and he didn’t begin selling it deeply discounted by business conferences advertising it until the age of 26. So you understand it took 8 years to get in the furniture business. What’s the next notable quotable from history is the feeling of achievement. The antidote is to every evening think what can be done better tomorrow in this is huge concept, and this is why every entrepreneur needs to have these following for advisors in your life, I’m going to list them out here. For you, we talked about a little bit on and look under the hood with paul hood during this past weekend, but I want to make sure the letters get this. You want to have an attorney in your life, who is a very successful attorney, who works with who works with successful people, because the attorney can make sure that you’re legally set up the right way and you’re, probably not by default. I mean you’re, probably not so, if you’re out there and you don’t have an attorney I would recommend you have them before you need one I mean you really need to have a good relationship in winters, king.Com

will put on the show, notes, winters king.Com and specifically mr. Wesley carter, mr. West carter. He is my attorney I recommend you have somebody in your corner legally who can help you optimize your business, as example for elephant in the room. We have three stores in each one of the stores, as it is set up as its own set limited liability company, then those stores pee holding company and that holding company pays another company I own plus minimizing my liability and it’s the best for all. For many many reasons, I would have not come up with that strategy. On my own, that’s why I use winters and king size. We have to have in your life, you have to have an accountant. Everybody needs to have a proactive account. Just ask you this on a scale of 1 to 10 of 10 is the most proactive accountant in the world and one is reactive. How proactive is your accountant on a scale of 1 to 10, 8 or below I would highly recommend you go to hood cpas., comets, hood cpas., com, that you would schedule that you would schedule a one-on-one consultation with paul hood and his team there that she going to give you a free business conferences copy of warren buffett’s book snowball for all of our listeners. You give me a free copy of warren buffett’s only authorized biography. The book called snowball can be yours for free. All you have to do is go to hood cpas. Comments cuz, your consultation advisor every entrepreneur entrepreneur needs to have to have a financial advisor and paul hood also is license to be a financial advisor, but you need to have somebody who’s. Looking at your finances and making sure you’re investing in things that make sense. Give me some tips real, quick. If you buy a house by a house, that’s the beat up house in a nice neighborhood, that’s a tip! You make money. When you buy a house right so right away, you buy the small house in a nice neighborhood. Then your values going to go up over time and that’s it that’s a boo. You know. If you got to buy a house, you might as well buy one that you can add value to. Second, second, I will advise her for you. If you need to have a set place in a set time, every single week to look at your finances and by default most people don’t do that. You have a set time and a place to look at your finances and by default most people don’t do that and again. Paul hood is a c p. I highly recommend that you check him out at hood cps.Com.

The force advisor everyone needs to have their life is a coach or a consultant. It just does not make sense for you to be going to the gym year after year after year, not getting the results you want to have. It did not have a personal trainer, I mean a class I’m, leaving your class simon coaching. Maybe a large group of people were small grouper some. It doesn’t make any sense for you to wander around. The bible I never really know what it means and not understanding. It would make more sense to have a church. We have a pastor, someone who’s, the leader in your life in that area. So any area you want to get better at you need to have a consultant or a coach, pushing you. If that wasn’t the case, you know nba players, they would just sign them out of high school at a college and they would just assign them to a team in that team would just call the plays themselves. Everybody needs to have a coach someone to push you someone to push you to be your best, somebody who is going to help you perform at your peak to to point out the obvious things that maybe you don’t see right in front of you, the other things were there. There are obvious to a coach that obvious to you as a business conferences attendee and I would just quote from fortune magazine there’s an article called the best advice. I ever got it’s the best advice I ever got. This is from fortune magazine eric schmidt. Does he says the best advice I ever got was to hire a coach, the advice it sticks out to me why I got was from john door, the vents, the famous venture, capitalist to the ceo of google.

My advice to you is to have a business conferences coach. The coach he said I should have is bill campbell. By the way bill campbell was the coach who coached both bill gates or he coached steve jobs bill campbell was the coach of steve jobs from apple. He was the coach of jeff bezos with amazon and he was the coach of larry and sergey with google and he said I initially weird. This is this is eric schmidt speaking I initially presented the advice because I was pretty experienced. Why would I need a coach and I doing something wrong? Margaret was how can a coach advise me if I’m the best person in the world at doing this, but that’s not what a coach does baby know. The coach, doesn’t he didn’t say baby I said, doesn’t have to play the sport as well as you do baby. They have to watch you and get you to be your best baby. He doesn’t say baby I just had baby I’m done it’s something I’m doing in the in the business context of coaches are repetition, repetition, coach, baby, a business coach is somebody who looks at something baby with another set of baby eyes and describe his own baby words and discuss is how to approach the problem baby. No again, schmidt never said this. Is my radio show what I can do? What I want to I can do what I want to so I would just encourage you out there if you don’t have a business coach baby.

That’s me, talking to you, don’t have a business coach you got to have a business coach coming in hot springs, ar comp rod is what they’re mr. Tim to design a desk with may cost. $1,000 is easy for a furniture designer to design a functional and good desk with show cost. Only 50 can only be done by the very best business conferences dollars furniture designer to design a functional and good desk, which will cost only $50 can only be done by the very best show sponsors no brainer, I love, I love, this no brainer, no matter what industry a man, I love, this no-brainer call platinum past and I could have designed a no-brainer that would cost $100 to try them out there. There a pest control company i, don’t listen right now and you’re passionate about pest control on a few and yes pest control I love it i, love, pets, control, i, love and trying to pass troll store. Let’s go to the pest control store, then let’s go to the toilet store and then after that, go there. Then let’s go to a store called where’d. You get that did they wear one and we need to bring back the toilet shirt you bought cuz. Apparently you didn’t pay for it. What time you got to take care of, if it’s a problem, if you’re out there saying you got rodents in your property or you want to prevent rodents eating your home’s value nasty like a mouse I mean if you got something nasty and you’re trying to do a snake. There’s a topical warner, lake snake me feel like that’s one. It’s it’s beginning, april in and what the guys are telling us is that ants are a huge problem right now watching one by one:hurrah the ants go marching 1,000 by 1,000 how to get them out there. The little ones eat all your stuff, exactly. Okay, so get ahold of these guys at platinum pest & lawn. The website is platinum. Pest & lawn., they’re going to do a $1 first service on that that aunt I love your voice. What was that website? One more time to sale at me on my beeper platinum pest & lawn. Com, that if a knife better than icing you’ve, been saying that you’re bothering me really do like the way you did that and it’s always in the show, with a boom and so 3 2 1

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