*** Tim’s questions are colored blue
- Former CEO of home depot
- Crazy good terms podcast
- Built to scratch book
- Great entrepreneurial story
- How you lead from an inverted pyramid
- Interested in politics
- Starting a law firm
What did Jack Welsh ask in that first meeting with Frank?
- First “how are you organized?” because that tells a lot of what your priorities are
- Other questions would be about people
Single most important aspect of leadership: generosity
- Jack Welsh: “I don’t need to pay people to tell me that I’m right, I pay people who are going to tell me where I’m wrong”
- Advice as a CEO “you’re going to tell a joke and everyone is going to laugh, even if you’re not funny”
How do you celebrate?
You get what you celebrate
- People respond to being recognized
- Everything you do is in front line of your associates
What type of metrics were being looked at?
- especially NPS = net promoter score
Exploring the macro by digging into the micro
- Before becoming CEO, his son was given a temporary assistant manager position (after coming from Iraq).
- Frank was sent to a Home Depot store to check it out. It was very badly managed and it was actually the store over which his son was looking over.
- What am I worried about? Go check it out – fact-finding
People progress in life from solving bigger problems
- Don’t assume that your worry is well founded
What you always want to get to is simplicity on the other side of complexity
- When you get there you know you got it and really understand it
- Whenever you find yourself bound up in complexity just know that you haven’t worked it hard enough
There are 2 places where you should spend money, if necessary.
1. Your matress
2. Your shoes
If you’re not going in one, you will be in the other.
If you were going to teach a class to high-school students, what would you teach and why?
- History – because it’s about people