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In the years between her first job at a small town shop to majority owner of A Few Cool Hardware Stores, she has successfully navigated a world of challenges. In the first installment of this conversation with host Sylvia Henderson, entrepreneur Gina Schaefer outlined her path to transcending tradition in a ¨male-dominated field.¨ Part II of this chat highlights the importance of leadership in a time where the questions can change as quickly as the answers.
[1:03] Trusting the Process
Schaefer identifies trust as a core element of success in business. Whether the trust between client and company or the trust between management and associates, without trust there cannot be progress. Part of this is trusting that both she and those she hires are making the best possible decisions every day. The entrepreneur places a premium on the positives, working to move past everyday inconvenience as smoothly as possible in order to reach a better shared tomorrow. The communication and respect she requires from her team are based in trust.
[4:02] Engendering Engagement
Ensuring employees are fully engaged while at work is another time-tested marker of organizational success. To promote employee engagement, Schaefer places management in the closest possible proximity with associates. Managers and assistant managers from each store are promoted from the in-house employee pool, and they hold full autonomy HR operations. Stock selections, hiring, firing, promotion, pay, and bonuses are all determined by onsite staff, drawing a clear line between everyday contributions and the career arc of each employee.
[6:43] Failure as a Lesson
Any road to sustained success is paved with the costs of education. Asked to recall a failure that she credits with expanding her corporate consciousness, Schaefer looks back at the lessons learned operating her 5th location. After 4 successful grand openings, she took the effectiveness of her model as a given, discarding some conventional wisdom along the way. The location was never destined for success, and siphoned the revenue of the others for the life of the 10-year lease. Although it was an expensive experience, the impression left was indelible.
[9:37] You Oughta Know
The conversation closes with the question of what Schaefer wishes her clientele would ask more often, and the entrepreneur´s response can give us reason to reflect. Highlighting the role of the customer in determining the marketplace´s winners and losers, she calls on her customers to both patronize her business and advertise it through word of mouth. Not only does this help draw in new customers, it also helps attract new talent that help distinguish her store from its big box competitors. In an industry dominated by billion-dollar businesses, local dollars remain king.
About Gina Schaefer:
Website: afewcoolhardwarestores.com
LinkedIn: https://www.linkedin.com/in/gina-schaefer-56380a8/
Email: info@acehardwaredc.com
Connect with MindTeam Solutions:
Website: https://ca.linkedin.com/company/mindteamsolutions
Email: Info@MindTeamSolutions.com
LinkedIn: https://ca.linkedin.com/company/mindteamsolutions