Showing posts with label financial. Show all posts
Showing posts with label financial. Show all posts

Tuesday, October 28, 2014

Project: The Walgreen’s Way: Prompt and Proactive


The enterprise started like any other. Named after the surname of a brilliant man.

This business was born of a necessity and based on education and experience. As a pharmacist, he interwove medicine and the mediocre.

A man, sick himself, found his vocation and that man was Charles Rudolph Walgreen.

He becomes the drug store and a retail location providing knick-knacks, non-pharmaceuticals and soon would food and beverages that sold just as well as his original concept.

When things were going good, things were good. But when things were slow, Walgreen did not allow the business to stop. In less than 40 years he opened 110 stores. How?

Because when things got slow, he decided to not do the norm and accept the fact that his fiscal year was safe. He questioned how could he beat the competition but also satisfy his clients and keep them happy? He questioned how could he make things better? 


Thus he created the 2-minute drill.

The drive-thru, delivery service and microwave dinners seem impressive now, but Walgreen set a standard that created word of mouth advertisement so positively it could possibly be why Walgreens is the largest drug retailing chain in United States.

So what was this drill that deserves such laud and honor?

It’s 1893 and you live close to Walgreen’s south side Chicago location and called them in for non-prescription items, Walgreen would answer the phone and repeat the items enunciating the name of the caller, their address and their desired products. Loud and clear. In doing this, Walgreen’s assistant could accurately collect all the items while Walgreen continued to keep the caller on the phone discussing weather and whatever else might be happening on the social calendar. 

All items collected, the assistant Caleb Danner, set out to make the delivery as Walgreen was still talking to the client. And then the doorbell rings. The client excuses himself or herself from Walgreen’s conversation and finds their order at the door. Astonished at the speed of delivery, Walgreen set the standard for customer service and all through his Two-Minute Drill.


So what’s your 2-minute drill? How will you set your company apart from others or improve your morale? How will you redefine customer service?

-The Green Couch

Tuesday, September 16, 2014

Project: Understanding Your Limitations

It has been one week since S. Truett Cathy, founder and longtime chairman of Chic-fil-A, passed away.

While many of us mourn his passing, he has left us with an astounding legacy and invaluable truths. The most prominent, I believe, is recognizing and acknowledging one’s limitations and humbly accepting them.

In Cathy’s case, he even self-deprecatingly integrated his into the scrumptious Chic-fil-A’s trademark slogan so that we may never forget it, though we never have realized it until now.

“We didn't invent the chicken, just the chicken sandwich.”

Not only did they acknowledge what came first (the chicken), they also gave credit where credit is due; two vital elements to success.


1)    Know that you are always borrowing a piece of someone else’s innovation.
2)    And then pay tribute to them.


No matter how many accreditations, degrees, master degrees and Ph.D.’s you pursue and achieve, when you hang these on your office walls, you will never have an opportunity to invent the chicken. You have to understand your limitations.


Living 93 years, Cathy’s seen, implemented and endeavored to incorporate many financial and innovative practices in his business, thus influencing the general and mainstream culture. Not everything succeeded. And for every failure we may have seen come across the menu board, how many more have come across Chic-fil-A’s board of directors – but at one point or time, they learned their limitations.


So ask yourself:


1)    What’s your chicken?
2)    What’s your chicken sandwich?
3)    How are you going to market a cow to make others eat more of that chicken sandwich?
4)    What invaluable truth will be part of your company legacy?


While it seemed S. Truett Cathy ate, slept and breathed his company we, too, need to take a moment to evaluate and prioritize, we need to ask ourselves, how important is our business? Then maybe, just maybe, that chicken sandwich will taste a little better, and the chicken will not taste so bitter.



-The Green Couch Project