Tuesday, October 14, 2014
7:45am Continental Breakfast
Chairman & CEO,
The Container Store
UNCONTAINABLE: How Passion, Commitment, and Conscious Capitalism Built a Business Where Everyone Thrives
500 South Figueroa Street
Los Angeles, CA 90071
$20 General Admission
$43 Includes Tindell’s book
Kip Tindell is Chairman & CEO of The Container Store. He was presented with Ernst & Young’s prestigious Entrepreneur of the Year award in 1991 and is a recipient of the National Retail Federation’s 1998 Innovator of the Year Award. Tindell received the National Retail Federation’s 2010 Gold Medal Award, the most coveted award in retail, given to individuals who have served the industry with distinction and achieved a national reputation for excellence. He serves on the board of Whole Foods Market (WFMI), the executive board of the National Retail Federation as its Vice Chairman. He is a leader in and is passionately involved in Conscious Capitalism, Inc. Tindell has appeared on “Oprah,” CBS-TV “Sunday Morning,” CNBC, Fox Business, and featured in the Wall Street Journal, The New York Times, and Fortune, among others. The Container Store has 66 stores and more than 5,000 employees. Click here for more information on The Container Store.
In his new book, UNCONTAINABLE: How Passion, Commitment, and Conscious Capitalism Built a Business Where Everyone Thrives, Kip Tindell reveals the culture secrets that led to the company’s success and that are applicable to any business. He fully embraces the tenets of Conscious Capitalism and the “Golden Rule” of business, where all stakeholders–employees, customers, vendors, shareholder, the community–are successful through a harmonic balance of win-wins. In UNCONTAINABLE, Tindell shares the seven Foundation Principles behind The Container Store’s success:
1. Great Person = 3 Good People. TCS’s hiring philosophy taps into the creative genius of every employee–and pays salespeople 50%-100% higher that the retail average.
2. Fill The Other Guy’s Basket To The Brim. Making Money Then Becomes An Easy Proposition. Success comes from treating vendors as close partners and creatively craft mutually beneficial relationships.
3. The Man In The Desert Selling. Get to know the customer well enough to propose a solution, and reframe selling as a virtuous activity that improves people’s lives.
4. Communication is Leadership. Every single employee in the company knows virtually everything, which fosters a huge sense of teamwork, loyalty and ownership.
5. The Best Selection, Service & Price. The Container Store works to achieve all three simultaneously, an almost unheard of phenomenon in retail–even the best often can only offer only two.
6. Intuition Does Not Come To An Unprepared Mind. You Need To Train Before It Happens. Full-time employees received almost 300 hours of training in their first year–far above industry average.
7. Air of Excitement! Without it, TCS would be just another retailer with no spark, and likely no profits.
Over the last three decades The Container Store’s compounded annual growth rate (CAGR) since inception is over 21 percent and the company has been on FORTUNE magazine’s “100 Best Companies To Work For” fifteen years in a row. They bounced back from the Great Recession with record sales since 2010, despite a sluggish economy. But for Tindell, the goal never has been growth for growth’s sake. Rather, it is about how treating your employees with affection and respect is not only the right thing to do, it also happens to be the fastest road to success. Above all, he says, it’s about having the same code of conduct in both business and in life. And here’s the twist: Not making profit your number one priority actually makes you a lot more profitable.
From pulling all-nighters to get product on the shelves in time for their first opening day to surviving the Great Recession without laying off one employee, Tindell shares stories and learning moments. It’s a behind-the-scenes account of how Tindell and his partners invented an entirely new retail category, one that became one of the fastest growing sectors of the housewares industry–and subsequently embarked on a journey that has enabled them to re-write the rules of business.