Recently I invited Kip Tindell, the Co-Founder, CEO and Chairman of The Container Store to speak to the Dallas Chapter of Entrepreneurs’ Organization.
They hosted our event at their corporate headquarters, including a tour of their amazing logistics facility, from which any item that is in one of their stores originates.
A true entrepreneurial story, Kip has grown The Container Store from a single 1,600 sqft location in Dallas to 43 locations throughout the country, that average 25,000 sqft in size.
The big take-away from his talk was over-communicate to your staff, your partners and your vendors. If you put your employees first – revenue and profits will follow.
The Container Store philosophy is that 1 great employee = 3 good employees, and 1 good employee = 3 bad employees. So only hire great employees and over-pay them compared to the market.
Kip also says he gives the same power-point presentation on the company’s status to his board of directors and his employees. Employees feel they know what is going on in the business and won’t be surprised.
Maybe that is why Fortune has named them one of the 100 Best Companies to Work For – 10 years in a row.