Why try to do everything by yourself?
“Frank Winfield Woolworth (1852 – 1919) was a pioneer of a change store. He came from a humble background and became one of the richest men in America despite many early setbacks in his career. Emerging from a small town in New York state, the farmers boy rolled out his “five and ten cents” concepts first across America and then around the world. From a single shop in 1879 to thousand in 1918, the growth of F W Woolworths & Co. was phenomenal, changing the nature of retailing and bringing its founder riches and fame. Woolworths was the original price driven retail chain.”
What was Woolworth’s secret? Delegation apparently: “So long as I was obsessed with the idea that I must attend personally to everything, large scale success was impossible. A man must select able lieutenants and/ associates and give them power and responsibility”
(an extract taken from the book: Movers and Shakers, The Brains and Bravado Behind Business, Bloomsbury Publishing (2003))
Develop strategies to leverage strengths and opportunities in your business. The right people are your great asset.
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