December 8, 2004

Excerpts: Herb's Hints - Part VII

By: 800-CEO-READ @ 12:54 PM – Filed under: Management & Workplace Culture

5: Knowledge Is Power
This rule might seem obvious, but a lot of people think they can get by on what they already know, even as things are growing and changing right in front of them.
This rule is why I spend three hours every Saturday at a Wal-Mart. I do it because I can gain a whole lot of knowledge about consumers and what theyre buying, and its a simple way to see for myself whos buying our product, as well as whos buying our competitors. It gives me a perspective on the marketplace at the worlds largest retailer, and it shows me whats going on with our competitors products, and whats new and exciting in the world of merchandising. When I travel, I like to visit stores as part of my normal out-of-town routine. I dont have to rely on a sales report, or a monthly update to tell me whats going on. I can see it for myself. Knowledge is power. Always try to know more than the other guy.