The Resilience of Costco (thank you to Tim Ferriss & Verne Harnish) —
Tim Ferriss highlighted this “article” on Costco. Notes Ferriss, in his 5-Bullet Friday post (one of my favorite blogs each week):
“For 40 years, Costco has succeeded with a simple formula: reinvest merchandising profits into lower prices and better products; be a disciplined operator; and treat customers and employees well.”
This is a great study in simplicity (drastically reducing SKUs, per slide 44, and keeping the stores barebone, per slide 70), contrarian decision-making (no expensive advertising, per slide 54, and only offering bulk sizes, per slide 58), and much, much more.”
Please take 2 minutes to click through the 146 slides (it really is quick to absorb!). Thank you, Tim ( & Verne), for highlighting this great biz example – and love the clever way the story is told via slides.