Founders #107 Sol Price (Costco)
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Jan 20, 2020 Explore the inspiring life of Sol Price, a retail pioneer who turned misfit tendencies into a groundbreaking business philosophy. Discover how his innovations led to the creation of FedMart and Price Club, driving fundamental changes in the retail landscape. Learn about his strategies, like intelligent loss of sales, that shaped customer-centric models. Additionally, delve into the importance of mentoring and personal relationships, highlighting how his legacy continues to influence generations.
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Sol Price: Misfit
- Sol Price was a misfit in school, excelling academically but also being mischievous.
- His teacher predicted he'd either become a gangster or do great good.
Depression's Impact on Sol Price
- Witnessing the Great Depression and his father's avoidance of work shaped Sol's values.
- He prioritized serving customers and employees, contrasting his father's laziness.
Pro Bono Work
- Build your network and future client base by offering valuable services pro bono.
- This strategy helped Sol Price gain clients for his law firm.
