Write a two-page paper double spaced with no more than 12-point font and 1” margins on lessons that you can learn from the text. Be sure to include the following items in your paper:
- What incident led to the founding of the Home Depot? What can you learn from this in respect to overcoming obstacles or failure?
- Did the owners have a background in the home improvement industry? Do you believe you would need a similar background or previous experience in a business you would start? Why or why not?
- Blank and Marcus worked for a particularly difficult manager in their previous positions, Sandy Sigoloff. What lessons can you learn from Sandy’s management style? Would you employ a similar management style in your future business venture? If not, how would your handling of employees be different?
- What struggles did the Home Depot go through in their first year of operations? How might this apply to your future venture?
- How did the Home Depot founders revolutionize the home improvement industry? What difficulties did they encounter with the new way they were operating the business compared to their competitors? How important is your relationship with vendors when selling a product?
- Employees were very important to the founders of the Home Depot. What lessons can you learn from their employee strategy and the skill and pay level of Home Depot employees? Would you employ a similar strategy in your future business?
