Listen to an inspiring radio interview of David Green and how he started small and is able to reward his employees despite tough economic times.
Hobby Lobby recently raised employee salaries despite our current economic conditions. Dave Ramsey of the Dave Ramsey show interviewed David Green - the founder and CEO of Hobby Lobby. If you want to listen to this inspiring interview, go to the Thursday April 16 archive.
These days, many people and businesses want one thing: instant success and instant gratification. No one really wants to start small, to be unheard of, learn to crawl before you walk mentality. Like Ultimate Electronics out here in the Dallas metroplex, when they came to town, they launched MANY stores all at one time. Came in with a bang! Bang, you're right. Because just as fast as they came in, they didn't last 2 years and now, they are a part of the retail economy.
David Green started Hobby Lobby with $600, his 2 kids gluing their frames in their garage and with a wife who didn't receive any salary for 5 years. As he said in the interview, he had to learn to crawl and crawl and crawl before he could learn to walk, then run.
He attributed his success to running the business God's way. By that, it means hiring servant leaders and utilizing their God-given talents in the right places and handling money God's way. He believe all are God's to begin with. So, giving raises isn't so hard when it's not yours.
David Green is the #133 richest man in America according to Forbes. His net worth is valued at $2.0 Billion and runs Hobby Lobby as a private company. The only reason his company could "afford" to give employee raises is because the company does not have long-term debt.
It's okay to start small. So, for those of us who use credit cards to purchase leads, systems and everything else, you might re-consider your strategy. It might very well affect your long-term survival. Keep your business expenses very low, don't go out buying this or that and learn to crawl before you walk.
You're right when I titled this post, It's More Than Just a Hobby. Coincidentally, it's also a book about David Green and how he built a successful business empire not on book-knowledge but on experience.
Many real estate professionals, or small business owners take up a passion. But not many know how to bring it from nothing into something worth talking about years later. Make your business more than a Hobby. I hope you will listen to the archive, and be inspired. Can you be the next David Green?
Dave Ramsey's Thursday April 16 Archive. Fast Forward to 28 minutes into the show. The interview last about 10 minutes.
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I proudly serve and sell real estate in the greater Frisco TX Homes real estate market. If you are thinking about purchasing or selling your homes in Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area and other surrounding areas and more importantly, want to work with a local area expert, contact me at your earliest convenience.
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Copyright © 2009 by Loreena Yeo (3:16 team REALTY). More Than Just a Hobby.