#370 The Founder of IKEA: Ingvar Kamprad
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Inbar campo d founded at here when he was seventeen years old and worked on IT until he died at ninety one years old. He wrote what they called the A K A company bible to documents called the teston of a furniture. Al dealer actually love the message inside so much that I had the document printed and bound and IT is now sitting on my desk.

And in that document, and something in were repeated for more than six decades, was that cost awareness was to be I kiss and them in borse dedication to that idea was total. And the way that in borge spoke about this IT sounded and reminded me a lot of what sam walton would say about the importance of cost control is to graphed multiple together and talks this. This is one of my favorite.

He says, I asked why today, when warmer has been so successful, when we're already fifty billion hour plus comedy, should we stay so cheap? That's simple, because we believe in the value of the dollar. We exist to provide value to our customers.

This is something in our repeats over over again, which means that in addition, quality service, we have to save the money every time one more t spends one dollar foolishly IT comes, right? Other customers pocket every time we save them a dollar that puts us one step ahead of the competition, which is where we always plan to be. Control your expenses Better than your competition.

This is where you can always find the competitive advantage. For twenty five years running, long before warmer was known as the nation's largest retailer, we ranked number one in our industry for the lowest ratio of expenses to sales. Anyone and everyone who is committed to being great at building the business, business successes with watching their cost in bar says this in the book.

He says that we pushed cost awareness at all levels with almost manic frenzy. There's a line in Andrew carnegie butterfly that describes that they say cost control became nearly an obsession. Same walton Andrew in bar, I talk about angry for in this episode, they all built to the world's largest fortunes.

And what they all had in common, just like you on moscow I talked about last week, encounter of other history, is great founders for them. Cost control was an obsession. This is something I talk about all the time with my friend eric, who is the cofounder and C.

E, O of ramp. Ramp is now a partner of this podcast. I want to know all the cofounder ers of ramp and spent a bunch of and with them over the last year too. They always sten to the podcast and y've all picked up on the fact that the main theme from the podcast is on the importance of watching your cost and controlling your span. In fact, a semi, a text from this biography of a founder that he's reading.

And in IT, one of his employees is talking about the fact that you get a hand written note asking things such as why is this expense higher than last month and what steps are you going to take to change IT? And he didn't forget IT the next month either. He would notice he was sharp.

He knew exactly where every, every dollar went for. And that founder again, and and you carnegy Henry ford. The reason they did this is because they knew that watching your costs and controlling your spend gave you a massive competitive advantage.

And that is the reason that rap exist. Ramp exists to give you everything you need to control your spin. Rap exist to give you everything you need to make cost control an obsession.

I think ramps website is incredible. Make history greatest entrepreneurs proud by going to rap dot com to learn how they can help your business control cost. That is, rap dot com. Imagine more of the coder little countries in the world, take of the most baring part of that country. See in front of you a god for seeking place deep in the forest.

This book is about a man who grew up in this harsh environment, which was to mark his whole life and fundamentally colour the philosophy with which he built his vast empire consisting of thousands of employees and millions of customers all over the world. The country is sweden. The man is in bar camp, rad furniture dealer.

He aims to give his business eternal life. It's a long way to the country where an empire was built, where he was born. Loneliness, silence and reserve prevail.

The cottage es. Have always been small. Survival has never been taken for granted. IT was here that the dream of ika first grew. This is where the rough outline of the whole concept began to be written by a disley ic boy on a farm, two empty hands. The myth says he built an empire from nothing.

But what are two empty hands? And what is really meant by nothing? Do love and encouragement and nate energy, desire for revenge, imagination and curiosity all count for nothing?

What about the vanity of one day showing your father and your mother and the whole world what you could do? Of course they count. This is not a book about a man starting out empty handed.

On the contrary, IT is a book about a man with his hands ful of resolute dreams, a heart tormented by inadequacy in self pity, and a stubborn, an inquisitive enterprise, a strange mixture of a social animal and an a centric. The book is equally about a business in which he realized and do which he lived out all of these circumstances, for good or for bad. IT is about an outstanding and natural genius, an incredible capitalist, so relentlessly obsessed by the lure of profit and power that he used a thousand tricks to endorse his creation with eternal life.

Others will recognize themselves in his story for all of us. Bear with us the embryo of a miracle. That was an action from the book.

And when I talk about today, which is leading by design the I K S story and is in my bertil turkle with a lot of close association with inbar cm pride themselves, so there's huge chunks of this book that are an info s own words. I want to go to the end of the book really quick because I think it's really important. And this is something that absolutely love about entrepreneurs, is that entrepreneurs love the future generations of entrepreneurs in the camp.

raw. Crazes is so he founds, I care. O, I. Ky, was that anyone years ago? IT is now today the largest furniture retailer in the world and also, strAngely enough, one of the world's fifty largest restaurant chains.

But he found I kia eighty, eighty one years ago. He works on IT for seventy four years from the time he has seventeen, until he dies, and inbar dies at ninety one. And so about twenty years to four passes away.

Inbar agrees to work on this book with the author, and he tells us at the very end why he did this. He says, over ten years I ve been called on by a number of writers and publishers wanting to write myself graphical. I have always been very reluctant to do this and have invaded.

The issue is politely as possible. And that was his position, until this author suggested that the book be written so they could be used as study material for future entrepreneurs. That was the only time I listened.

So i'm actually to put the book down for one second, actually. Want to start with what is considered like the the ik a bible. IT is a document called the testiment of a furniture diller and has ruined by inbar campi d in one thousand nine and seventy six.

You can read for free online, but I think that was so great that actually predit printed and bound, and the way that the teston of a furniture is described at a, they called a sermon on the culture of ika. And in fact, later on in the book, they talk about the fact that this document is the basis of the sermons. So every year in var would have, like top executives, and in some new people that are new to the I, K, F.

Family, he would lead a meeting with them, and he says he, they gave the exact same sermon for forty three, three years. And that talk was based on the principles and the ideas in this document that sitting before me. And so he starts with an act of service, is telling them why I can exist.

And he says, to create a Better everyday life for the many people, by offering a wide range of well designed, functional home furnishing products at Prices so low that as many people as possible would be able to afford them. The best founders, the best leaders they know their job is to get their entire organizations commit into a common goal for the very next. Sentenced is a great description of, I cares, common goal.

We have decided once and for all to decide with the money. And so throughout inborn, like he will constantly repeat these principles, and he will also say, you are forbidden. You cannot change these principles ever.

So this is the first one we have decided once and for all, to decide with the manic. This is an objective that Carries obligations. And he's immediately going to contrast, this is the way, the a way this is the principles is what we believe.

And he's gonna contrast to what everyone else does. He is telling him this is how we will be different. All nations in society spend a disproportion amount of their resources, unsatisfying a minority of the population.

Far too many of the fine designs and new ideas are reserved for a small circle of the affluent. That situation has influenced the formulation of our objectives. So when I read that paragraph, first person came to mind was actually Henry ford.

If you go back and study the creation of the american aromal industry, I would argue the two most important h figures are Henry ford, oba sly, founder for motor company, and then Billy dant, founder general motors. The reason enry four can to mind is because Henry ford had one single idea IT took like a decade and have to figure how to do this idea. But his one single idea was to make the car for the every man.

Let me read you a pair regard from one of the bike pies of Billy dern that I read. And this is really Billy derned describing Henry forwards. One single idea, says grant noted that ford was in favor of keeping Prices down to the lowest possible point, giving to the multitude the benefit of cheap transportation.

Henry ford was succeed with eliminate in waste. He was assess with cost control, and he was successes with rethinking the manufacturing process for the maximum level efficiency. The same exact thing could be said about inbar cambria. And so we go back to opening declaration from in bar cambria. After only a couple of decades, we have achieved good results, but we have great ambitions.

We know that in the future, remember, he's writing this in one thousand nine hundred and seventy six, okay? We know that in the future, we will be able to make a valuable contribution outside of our homeland too. Is talking about.

We know that larger production runs gives us new advantages on our home ground as well as more markets to spread our risks over. That is why it's our duty to expand. The means we use for achieving our goals are characterised by our approach by doing IT a different way, that free is doing IT a different way, something he repeats over over again.

Part of creating a Better everyday life for the many people also consist of breaking free from convention. That part is important because fast for to present day I kiss the largest furniture retailer er in the world at the time he's writing these words. obvious.

Ly, they're not. But there also the most innovative. There are several ideas that in bar and the early employees that I key came up with, they were the first ones to come up with them, and they are now widespread to entire install.

And you see him many decades before he's the largest. Hi, we are going to break free from convention. We are going to find new and Better ways.

We are going to do IT a different way. Any also says it's not going to be easy, says we must demand much of ourselves. The essence of our work is described in the following chapters.

The following chapters also described the rules and methods that we have worked out over the years as corner stones of the framework of ideas that have made and will continue to make I care a unique company. And so then is a list of nine principles that a key has built on. And one of the key principles is that I key must have low Prices.

So that met the vast majority of people can afford to shop there. And you'll see his dedication to that idea is total. So he says the concept of a low Price makes enormous demands on all of our coworkers.

That includes product developers, designers, buyers, office and warehouse staff, sales people in all other cost bears who are in a position to influence our purchase Price in all of our other costs. In short, every single one of us without low cost, we can never accomplish our purpose. And so you, I ve talked about this over and over again in the fact that the greatest entrepreneurs through our history, they cost controls in a procession for them.

That definitely applies to ebers. Well, he talks about over over again, you have to control your cost because we must have low Prices. And then he ends this section saying, there is no compromise.

This principal will never be compromised, he says. Our policy of serving the money can never be changed. And so in the next section he starts talking about the I K. spirit.

What he calls will you? And I would call a company culture. He calls the I K. spirit. anything. This part in popular is a great illustration of the idea that the founder is the guardian of the company's soul. If you read the section is obvious that embrace trying to guard the company's soul.

He says, obviously, he was easier to keep alive our company spirit in the old days when there was not so many of us, when we are always reach of each other and could talk to each other, things were more concrete in those days. The ready is to give each other helping hand with everything. The art of managing on small means of making the best of what we had cost consciousness to the point of being stingy humbler, undying enthusiasm and the wonderful sense of community through thick and thin.

Those are just some of the principles that he's going to repeat over and over again for, you know, seven decades. Not that. And this is what I really mean about he definitely A A specific point of view.

He knows exactly how he wants, what he wants his company is to do. He knows exactly how he wants the company we built. He was exactly that, the kind of people he wants working inside of his company. He says not everybody in a large group like arrest can feel the same sense of responsibility and enthusiasm. Some under dly regard the job simply as a meaning of livelihood, a job like any other.

Sometimes you and I must share the blame for fAiling to keep the flame a light, for faltering in our own commitment at times, for simply not having the energy to ensure SE life and warmth into an apparently monotask task. The true I T A spirit is built on our thusia m, our constant driving for renewal, from our cost consciousness, from our readiness to take responsibility for our humbler and approaching our task, and from the simplicity of our way of doing things. Those who cannot or will not join us are to be pity.

A job must never be just a livelihood. If you're not empty usia tic about your job, a third of your life goes to waste. For those of you who bear any kind of leadership responsibility, IT is crucially important to motivate and develop your coworkers.

You, as the captain, make the decisions after consulting the team. There is no time for arguments afterwards. okay? So the third principal is profit gives us resources. So the financial performance of I kia, I don't think i've ever seen anything, any other business like this.

At one point in time, IT was believed that I Q might be the most valuable privately held business that was owned by single person in the world and in bar never even took out alone while he was building a kid. The only he says later on the book, then he was like fourteen or fifteen at the time. So he started selling things when he like five.

And later on the book, he says the only real loan he ever got was from a bank for sixty three dollars so he could buy a bunch of five pants. And then he immediately, he sold the pens for a large profit. And so one of the iron laws of ika is that all expansion is to be self financed.

And his point was, to do that, you have to make a profit, as his profit gives us resources a Better everyday life. For many people, profit is a wonderful word. IT is a word that politicians often use and abuse.

Profit gives us resources, he says IT again, let us be self rely in the matter of building up financial resources. The aim of our effort to build up financial resources is to reach a good result in the long term. You know what IT takes to do that, we must offer the lowest Prices, and we must combine them with good quality.

This forces us to develop products more economically, to put just more efficiently and to be constantly stubborn in cost savings of all kinds. That is our secret. That is the foundation of our success, until principal number four is reading good results with small means.

Again, this is what I meant about Henry ford had the similarity, Henry d. They were both obsessed with a limited waste in increasing efficiency. They were both relentlessly resource forces, says reaching good results with small means, wasting resources is a model sin at ika.

IT is not all that difficult to reach set targets. If you do not have to count, the any designer can design a desk that will cost five thousand hours, but only the most highly skilled can design a good functional desk that will only cost one hundred dollars. This is one of my favor lines and of everything that he said.

Expensive solutions to any kind of problem are usually the work of mediocre. We have no respect for solution until we know what IT costs. A nikia product without a Price tag is always wrong.

Waste of resources is one of the greatest diseases of mankind. And he's not just talking about money. He's constantly hounding on doing more with less time.

IT is also a model sin to waste time at gea. Waste costs even more in little everyday things, filling out papers that you'll never need again. Spending time proving that you are right.

Postponing a decision to the next meeting because you don't want to take a responsible now calling somebody you could easily. And I note the list is endless, usual resources. The I can.

We achieve good results with small means. Number five, simplicity is a virtue. Indecisiveness generates more statistics, more studies, more committees, more bureaucracy. Bureaucracy complicate and paralyzes planning is often synonymous with the rocky is going to sound a lot like in on luck in the reality of space x for you.

And I talked about last week, there's a line in a book, no reports, no committees, just done, no work about work, just work in for saying the exact same thing here. And he's not shy about this isn't what he says here. Do not forget that exaggerated planning is the most common cause of corporate death.

Exaggerated planning leaves you less time to get things done. Complicated planning paralyzes. So let's complicity in common sense.

Guide your planning. Simplicity is a fine tradition. Simplicity is a virtue. Number six years old, principles that are dimensions multiple times, doing IT a different way.

If we, from the start, had consulted experts about whether a little community, like on heart, these are tiny little towns, and sweeten that he grew up in, highly likely lam is pronouncing them. I looked IT up and tried to practice for the pronunciation before I alm. Hurt, I think, is how to say IT.

But this is if we had to ask experts about whether this tiny, little community tween could support a company like A A, they would have undoubtedly sed against IT. On the first, sorry, is now home tour, the world's biggest Operations in the home furnishing business. By always asking why we're doing this or that we can find new pets by refusing to accept a pattern simply because that is well established, we make progress.

We dare to do things differently. Our protest against convention is not protest for its own sick IT is deliberate expression of our constant search for development and improvement maintaining in the development the dynamism of our business is one of the most important task. That's why I hope that we will never have two identical stores.

Dynamism and the desire to experiment must continually lead us forward. I'm going to go back to that one line I think really jumps out from the section. That is why I hope they will never have two identical stores.

So 英国 camp prad was disley ic。 There's another disley ic founder that I covered several years ago. IT is the founder of kingo's, paul orfila.

Because of his, this lexie would not sit an office. So how he spent his time, he would travel around and visit all of the different kiko stores and kiko source. The time before he sold at to fedex, they were all under different ownership, and they were also all run in a different way.

And he was a great line in his biography, where he says, yet to remember, he's been picking up the best ideas from all around the country. My favorite ideas in polls by phy is the fact, because he was dissected ic he would use this is long ago, so he would actually have a corporate wide or company wide voice mile system. So he's spent his days.

Visiting all the stores, all the great ideas that he would pick up from around the country. At the end of his day, he would call into this number and he would just talk for a few minutes about what you learn that day. And so then if you work at kink's, you'll become in the next morning and listen to that recording.

And so this way of dispersing and spreading the idea is to a kink's is so beneficial, so helpful. People like paul, if this like the best way to do, check out this is the best way to do marketing. This is the best way, you know, to do this print inch job.

Why don't you Mandate that all the other stores do IT that way, since that's the best way? And what he said was brilliant, he said, because if I do that, and that is the best way IT will ever be, call understood that all these individual stores were like military laboratories, and you did not want to restrict their ability to discover new things to on air. And you see in more saying the exact same thing here in nineteen seventy six.

That is why I hope that we will never have two identical stores. Dynamism and the desire experiment must continually lead us forward. Number seven, concentration.

Concentration is important to our success. The general who devises resources will be defeated for us to IT is a matter concentration. Focusing our resources, we can never do everything everywhere, all the time.

We will never be able to satisfy all taste. We cannot conquer every market IT wants. We must concentrate for maximum impact, often with small means.

Concentration means that a certain vital stages, we are forced to neglect otherwise important aspects. Concentration, the very word, implies strength. Use IT in your daily work.

IT will give you results. Number eight, taking responsibility is a privilege. There are people at all levels, in every type of company who would rather make their own decisions and hide behind those made by others. The fewer such responsibility I takers a company has, the more bureacracy IT is.

Constant meetings and group discussions are often the result of unwillingness on the part of the person in charge to make a decision, and so that he gets to wise to make people afraid to make decisions. They're are free to make decisions because they're RAID of making mistake. And he says, this line over over again, only while sleeping.

One makes no mistakes. Making mistakes is the privilege of the active. Making mistakes is the privilege of the active. Constantly practice making decisions to overcome our fear, making mistakes, the fear of making mistakes is the root of bureaucracy and the enemy of development. IT is always the media.

Could people who are negative who spend their time proving that they were not wrong, the strong person is always positive and looks forward. And finally, number nine, most things still remain to be done. A glorious future.

The feeling of having finish something is an effective sleeping pill. A person who retires, feeling that he has done his bit, will quickly weather away. A company which feels that has reached its goal will quickly stagnate and lose its vitali.

Happiness is not reaching your goal. Happiness is being on the way. IT is a wonderful faith to be just at the beginning. And I absolutely love that he said that because he is thirty three years into running this company.

And so sure, at the time, some people like, okay, we're just at the beginning, you know, thirty three years into the sink, but now fifty years after writing this, he was obvious, was right. IT is our wonderful faith to be just to beginning. The positive joy of discovery must be our inspiration in the future.

The word impossible has been deleted from our dictionary. Experience is a word to be handled carefull experience is a break on development. Many people say experience as an excuse for not trying anything new.

Bear in mind that time is your most important resource. You can do so much in ten minutes, ten minutes once gone or gone for good, and you can never get them back. Ten minutes is not just a six of your early pay.

Ten minutes or a piece of yourself. Divide your life into ten million units, and sacrifice is few of them as possible. In meaningless activity.

Most of the job remains to be done. Let us continue to be a group of positive fanatics. Let us continue to be a group of positive fanatics who stubborn and persistently refuse to accept the impossible.

What we want to do, we can do and will do together. And then he ends with a tag line. He repeats over over again.

He says, a glorious future. Okay, so i'm going to pick a book back up and i'm going to go straight into in bar. In his own words, he's telling us the story of his early life, and he's talking about the dynamic inside of his family.

And as he tells us about his early life and his early life plays out, as the pages turned more and more on my notes, say the exact same thing, revenge IT becomes obvious. The source of his extreme internal drive, the fact that he works all hours of the day, every day that he talks later on in in the book. His biggest regret is that he missed out on his three sons entire childhood, because all he did was work, get extreme levels of dedication and obsession with building I K A.

And when you look at this, give words that he am about to you. He is, these are transcripts of interviews say he gave when he was seventy two, until immediately he starts talking about his father, the fact that his father is forced ed to work on the farm by his grandmother in garage. Grandmother is the matrix, the very powerful person in the family.

He reminds you, she's like, this S A lottery pe of character, a personality and a personal dominate everybody around them. And so he says, my father was only twenty five, and he didn't want to be a farmer at all, but his mother's word was law, and he became her obedient tool. Similarly, father's brother had also wanted to go into the world, but he still lived on the farm.

Grandmother said you were to stay at home, and so he did. My uncle finally chose the same row as his father, and he shot himself in ninety thirty five. I was nine.

And so the back story there, which I think also tells why his grandmother had to be such a hardest, was there were german immigrants into sweden. They had very few resources, almost no money, and they are farm was fAiling. And inbox grandfather took the easy way out.

He had two or three small kids, and his wife was six months pregnant, and he shoots himself and abandon them. And so his grandmother finds itself in a strange country. No friends are fAiling farm and a bunch of children to take care of.

So his grandmother absolutely dominates his father. Now he tells us about his mother. My mother was loved by everyone.

SHE was an amazing person to him. Nothing was allowed to be impossible. Mother soon discovered the poor state of my father's business affairs.

So i'm going to post there where we know, we know that he came from a family with very limited resources. His father allowed himself to be dominated and to be told what to do by other people. His father was very bad business.

His father did not have a lot of money. When you read about in bars, early life, this is a perfect illustration. As principal uni, talk about an organ that you can always understand the son by the story of his father.

The story of the father is embedded in the sun, and he's going to say so explicit in a few pages. So go back to his mom. Mom discovered him.

My husband, the father of my children, is going to send us and a poverty if I don't do anything. SHE discovered the poor state of my father's business. So SHE started a guest house.

We rented out rooms to visitors. We ran IT out every room. Every room was taken, except my parents, into which we all squashed together.

My mother was a heroine in silence. He loved his mother. He admired her.

He just said he was loved by everybody listening. What happens next? SHE contracted cancer before he was fifty.

SHE died at the Young age of fifty three. I was twenty seven. A few years later, I started up a foundation for cancer research that bore her name.

The theme of revenge is ever present in reoccurring in his life, fate took my mom, the person I ably love more than anybody else. For me. At a Young age, I will have enough resources that I can set up a foundation for cancer research and named IT after her.

The very thought of my mother's death makes me weak. He was twenty seven when he died. He was seventy two when he says that.

And then he moves into the fact that he was a born entrepreneurs. Suppose I was slightly, and that I started tremendous ly early doing business deals. My apt helped me buy my first hundred boxes of matches.

In the hundred boxes of matches cost me eighty eight cents. I sold the boxes at two to three cents each. Talk about profit margins.

I still remember the lovely feeling. I can't have been more than five at the time. Later on, I sold Christmas cards.

I caught fish, and I would cycle around on my bicycle selling them. When I was eleven, I was selling garden seeds. Selling things became an obsession.

IT is not easy to know what might drive a boy more than a desire to earn money to surprise if you could buy anything so cheaply and sell for a little more. But here we go. But I remember walking in the medals with my father.

I was ten. We came to a place at which he said, i'd like to make a force track here, but I would cost too much. Then we went somewhere else.

And again, IT was the money that was lacking to Carry out my father's many plants. I remember thinking at ten, if only I could help father, suppose I could get some money so I could help father. And this is the lesson at his little ten year old brain.

Took away from that to Carry something out. You clearly had to have means. He starts at paragraph saying selling things became obsession. He ends at telling you why he is telling us when he was a child, he realized my obsession will fix the financial problems of my family.

And in a few years later, where he says a manager of a bank lentil, about sixty three dollars, which he considered to be a fortune, the times that he could purchase five hundred thousand pants from paris, this was essentially the only real one I have taken out in my life. That is, nuts. Trading was in my blood.

And he talks about another one of his heroes, and is gonna another source of revenge? So his maternal grandfather shot himself, right? His maternal grandfather ran a little countries store and in bar, when he was very, very small, would spend entire days in his grandfather's country's store.

He said, grandfather had one great love on earth, and that was me. He became my very best player. Unfortunately, he was just as kind in business life, and he quite simply found a difficult to accept payment.

So this country store no longer exists as a business. But by sheer chance, I care took IT over. I bought the whole property in the site around IT, a furniture store now stands on the foundation of the country's ore revenge.

He says, by sheer chance, bullshit. That was not chance. That was sheer will.

And then he goes back to talking about his relish shop with his pet erna, grandma, of the fact that he treated him differently. He was special. Grandmother, was a dominating person regarded with great respect.

But he liked me very much. In contrast to most of the others on the farm. I never suffered at all from her dictatorial temperament. In fact, he gave him a lot of conference. He was his first customer when I was about five and began buying and selling things.

He became a very special on my most faithful customer that gave me the courage to take the next step and go on selling to the neighbors as well. I was a child who love with my stern grandmother and my good father. I listen to their stories.

And of course, as a child, I was indoctrinated and pro games. So later on, many decades later, this, I think that the eighties are. In nineties, he talked about this, this point of his life, the fact that his grandmother was a fan of hitler and sympathetic to the native movement.

This comes up in almost room in his life. And so he says, this was to have unexpecting consequences in my life, long after the political Operations of my childhood and teens, I was made to pay for this german influence. To give you some contacts here, his grandmother was from a german state called the students, and after all, were one suddenly became part of checklist aoc.

But his grandmother was a german who did not identify nationally as a part of, as a check. So SHE would tell her grandson that the happiness day of her life was actually when nazi germany and ex checks va in one thousand thirty eight. And obviously hiller was in power at that time.

But from his gram as point of view, the nazis were reunited germany with german. And so in bar said he was, he was inducting ated into the ideology through his grandmother. But he was too Young to thinking independently.

He would have been trouve resolved in nineteen thirty eight. So anyways, in nineteen twenty four, this comes up. The media says, the founder of I is a not see in the responses to CoOperate with the media.

He gives his long interviews, he explains everything, and then IT blows. Over a few years later, another media organization says, hey, actually you are in a kid. We might have evidence that you actually still believe this when you or thirties in bar is able to disprove that.

But what was and is more to know the scope of what you I want to talk about, which is the way he built his business, is the second time around what he was most mad at, is they tried to say that he got the seed money to start a car from the nazis. And since had already settle these allegations a couple years before, he said he was furious that anyone thought he borrowed money at all. And he says, in his own words, they could have accused me of murder, but not of borrowing money.

And so let's go to the funding of ika. He is seventeen years old. He is about to go away to school.

He, because of the school of commerce, he decides he wants to start his own trading firm. So this is way before he goes, is exclusively a furnitured dealer. And that's where he describes after as his life, this point.

He just buying and selling all kinds of things. Until he seventeen, he finds the firm. I kear the I is for his first name, the k is for his second name, the e is for the name of the farm he grew up on, and a is for his hometown.

And so something that's common when you read a biography, as you see, that true interest is revealed early. So even before he found a, he was obsess with some something that most kids are not obsess with, which is distribution. He did not understand why he could buy something so cheaply.

And yet when he would sit in stores, he was so expensive to buy. And so he uses a term that I wasn't familiar with to describe this subsection, sion. And I looked IT up and he says, it's an idea that dominates the mind and the obsession.

And what he targum as the distribution became an idea that dominated is mine. And I was an obsession. And so even before he is on business, he would like go inside of like a shoop.

And he would see like this old fashion way they had of selling self. They were like, all you have to get on a latter, and you have to go up and down and just to fetch shoes. And he would look at things in all these businesses like this just cannot be rational because IT seems to waste time and money.

Memory says wasting time and money is a model sin in I K. Something that he was a cession, he was a little kid. And so the first thing he does to start at here, he's just a male.

Or our company and who go and find importers and exporters, and i'll become agents for them. And so before he ever tries to sell furniture, selling things at Christmas, guards seeds, fountain pants while its picture frames, table runners, watches, joy islands sockless. And he actually gets the idea to start selling furniture from one of his tough competitors, whose another male or firm, this uh, firm called gunners.

And when he's twenty two, he decides to try to advertise what he calls an armless nursing chair that he calls the root. And because he's just like that, he couldn't remember the order numbers. So he had to give instead, having order numbers, he give all his products names, which still continues to this day if you order something from my kia.

And so right away he realizes, hey, I think I stumbled this to a very, something very valuable. He says, the response, once advertisers the chair, the response was unambiguous. We sold a huge amount.

So then he doesn't stop just that chairs is a co advertise, a sofa and a chandelier. And this is was a result, everything went. That was how the business started.

People ordered on a male order form from us, and the factories delivered IT to them. This when he's going to go all in on furniture. And at the time, I ker was a one man business, but the demand was so great, he said, I could no longer remain in one man firm.

So in thousand and forty eight, I appointed my very first employee. Two years later, the business had grown to a staff of seven or eight. And this is how he describes the turning point of his life. So by chance to furniture trade, which I entered in in an attempt to imitate competitors, decided my destiny. No other event in life pleases me more than the fact that I ended up there.

My interest at first was purely commercial, selling as much decent furniture as I could, as cheap as possible, not until the first complaints started coming and that I realized that I was quality that was lacking one day that would force me to draw certain conclusions and choose another way. What he's talking about there is combining a male or catalogue e with an actual furniture store. And they did that because seven or eight years into the business is the business is about to die.

And so he describes this time for us, I kito was very much at across road test mail order has become almost unreadable, a fact that one simple example can illustrate. So all of the male, in milder competence, they're all ordering from the same manufacturers. So he talks about, hey, we're all selling the same ironing board until if I advertise IT for twenty three dollars, then my competitor will just come along in advertising for twenty two, and then another just come along and advertise that at twenty one.

And then eventually, when we can make money on the army board, will find another online board and that that arding board will be cheaper, but also lower quality. And so he said, step by step, this Price war affected the quality of the earning board, which came more and worse. The same ly furniture complaint started to mount, and I could see how things were going.

The male order trade was risking an increasingly bad reputation. And in the long run, I Q could not survive in that way. The core problem with mailer was that the customer themselves could not touch the goods, but had to rely on description in the advertisement, in the catalog.

So we were faced with a monumentous decision to allow I kid to die, or to find a new way of maintaining the trust of the customer to make money. And so inger having a bunch of conversations with early employees that I is like, how do we get out of this? The vicious circle, lower Price, worst quality and continue oil Price and even quality.

And so the idea they came up with was hate, why do we try a permanent display or exhibition of our furniture? So in bar has a choice, let his business die. Try, take a rest.

Try something new. So he winds up buying a run down out of business department store. He spent sixteen hundred years get the story that he has, invest like seventy five thousand to renovated and get IT ready to open.

And so IT is at this point in nineteen fifty two that he stumbles upon, out of necessity, to save his company, the blue print upon which the future success that he's going to a have rest upon. He says at that moment the basis of the modern I kia concept was created and in principle is still applies. First and foremost, use a catalogue e to tempt people to come to an exhibition, which today is our store.

And so I think at the time this book is publish from the book comes comes out late nineties, have something of three hundred stores like that. They sent out by that time over a hundred million catalogs. And he was the first one to do this male order and furniture store in one that business idea had not been put into practice anywhere else.

We were the first. And so he sends out all these catalogues, all products, and telling them where and when the first store was gonna open. In necessary result, success was immediate.

But I have never been so scared to my entire life as well. We open and saw the line outside. There were at least a thousand people there.

I couldn't believe my eyes. There were so many more people than he expected. He was worried that the floor was going to collapse.

He says. We didn't know whether the floor would hold all these people, tens of thousands of people. Those first years were to go on a pilgrim mac to the remote ormat.

This is the little tony son from all over sweden. Most of them had learned about us to the free catalogue. So this, an idea I draw IT down, have seen over over again.

Fact, I think we going to do another episode. Berny markets haven't done in party five or six years. He was the founder from deeper. He just passed away recently in five old.

So this is something he he talks about in his book, is is in the the books on sam walton and warmer as well。 And we see the same concept is happy an input cambria's life is the idea that in human nature, people go to great length. They will travel vast distances if they think they can save money.

That principles in the founding story, and warmer in the founding stories from deeper, when we see, again, in the founding story of a kia. And then i've mentioned over over again that he know he has a sermon of the culture of a kia. He he repeats the principles upon which he built his business.

He's talking about the very first store and listen what he says. I key was taking shape as a real business. Many of our unwritten laws were already written by that time.

He talks about this repeatedly over the Green, helpfulness, thrift, a strong sense of responsibility to this day, talks about the five hundred times. I don't think there's a kindle version of the books I can serve. Suit party mentions the importance of watching your cost a hundred times to this day at A K. A.

We try to transplant everything into a clear Price and stated our advertising resus have on the front or back information on what they caused to compile e, often with an indication that IT is in the end, the customer who has to pay for whatever we waste cost. Awareness was to be, I kiss anthem. And so he sets up the memory at earlier, you know, if experts said, hey, could in this tiny town of all mart support you this giant furniture? Like, of course you can't.

There were so many people, so a lot of the self that they're known for, right? Child cares. And all the ika, the restaurants they they were born and a necessity because so many people were traveling vast different distances to get to the store.

And since people are coming from all over over the country like they need a place to stay. And so he says, gradually, the pressure on the little town grew even greater. He was long before we open a restaurant, and we also had an in to a hotel motor on the site with a hotel.

And my grandfather would have been amazed for the place with his old country store. Step by step, we were building our future philosophy. And so to deal with this rapid growth, the family turns into a business.

The business turns into a family. They set up their offices at the time, are on the farm and clear everything out to make room for the growing I K. A headquarter.

So everybody in the family is helping out in the business. And I do think if you are between the lines and like the fact that he was just treated differently, I think his family knew he was gifted. I think his family understood that he was an unusual talent, says his home became his office, and his office is home.

The foreigner was cleared. So the boy, not the farm, could expand, and you got everybody in the family helping out, the father's helping out, the mother's helping out. So says, the family became his firm.

And then a contradiction jumped, says this appears contradictory. That is, profoundly family bound man often neglected his own family for the sake of the business. IT was to be one of inbox, great sorrow and the cause of some so searching.

That business made him neglectus three sons as they grew up. He has done everything to make up for IT since, but everyone with children knows that childhood does not allow itself to be reconquered. I read this book for the first something cost five years ago.

That idea childhood does not allow itself to be reconquered has been in printed on my mind. I remember the line exactly as if I had read this yesterday and not five years ago. And then on the very next day, he goes into another regret that you see a lot migration.

Es, and I have a lot of hundreds about this, you know, a lot of super sucessful founders. They build giant companies. And yet, in private conversations, they are nostoc c for when the company was small.

So he says the transition from the closest of the farm to the less intimate atmosphere of a large company was difficult for the founder. Essentially, he has never really accepted IT. This is what he said, that first wonderful time of strong working fellowship with a circle of individuals.

All of my new personally made me dreams, foolish dreams of IT always remaining the same. I nourished a false belief that would be possible to preserve the feeling, even when we grew large. When I care was a family that remains my very best memory.

And to keep in mind, when he says those words in bars, reported networks is around fifty billion dollars. And so then he goes into just how difficult that was a to build. I care.

Remember the idea was like, while everybody wanted me to arrive automotive phy, I said no for ten years and they said, ability of service to the different generation functional nurse and so he doesn't hide, you know what I would say, I guess, about this is in bar has an unusual personality compared to many the people in study weight, higher levels of insecurity. He's consulting crying. He's very sentimental and he's still, even though his companies is widely successful, right self debt.

But I think one of the best they did for future generations launch for nurses I didn't try to hide that says I have not been able to avoid severe losses. Both fiascos and triumph have marked the history of the business, and he talks openly about all the many moments of weakness. He's like, I wept a lot.

I couldn't bear adversity often. I failed to look at things from the bright side. The sad thing is I didn't even learn much from these early failures. On contrary, I kept repeating them. The asks have continued throughout my life.

And so he goes through a list over the next several pages of all of these ideas and investments that I came did where he lost millions, millions of dollars. And so we had the idea we're going to sell tvs, lets buy partial ownership in a television factory. And in the ninety sixties, he said this one, one mistake was one tragic investment cost.

I hear twenty five to thirty percent of their total assets at the time, and is like, but I didn't even learn from that because decades later, I decided i'm going to dismantle a swedish sol meal and i'm going to set IT up again in russia. And he loses about twelve to fifteen million dollars on this because of the russian mafia. This is his his description of Better way, the russian mafia and and less soviet type diocles acy and delicious goes on to on a terrible investment in romania, terrible investment into of the factory in thailand.

He's like, I, we lost hundreds of millions of dollars on projects like this over. But even after all of this, he repeats his philosophy that only those who are sleep make no mistakes. Making mistakes is the privilege of the active. The fear of making mistakes is the root of bureaucracy in the enemy of development. And a few of his employees are interviewed on the book, and they said that camp rad prefer them to make mistakes rather than to be idle.

And so one thing they can help you overcome a lot of mistakes as if you're just in a great growing market and you're in the early this is concept that charly monger talks about over over gan that he calls surfing. And so charly, we try to analyze, like what caused the success of somebody. He would look for some kind of they were surfing, so he would talk about, like lesh wab was surfing the wave of brand new japanese tire imports into amErica and the door building low cost of those japanese import, giving a massive advantage.

Van american competitors under the example you I recently talked about was in that that episode, the rare banner or interview that he caught, the early wave in china's luxury y market expansion. And so the way that in var campo d road was the fact that swedish countryside was quickly, because in depopulated, right when he started selling furniture during the one hundred and fifteen alone, fifty thousand farms closed down, and those people moved into the cities of the suburbs. And this one paragraphs, a great description of the way that they're surfing the building program that came to have such an enormous influence on I kia, or rather the need for a kia, broke all records.

During the first twenty years after the end of the war, one million new apartments were built. The company, quite simply, was in step with an accelerating development. So as I already been mentioned throughout the book, I drive a school.

He's constant repeating these virtues that he used to build a car, the ones that he wants to, to infuse the company spirit with the one he wants to. So he preach to his employees concerning about. And one of them I haven't covered, uh, is going to really important for this next section.

This is the turning point out of I care into a truly differentiated business. And so it's this idea of crafting ss, and I love in VS definition of craftiness. So he he defines craftiness falling with the craziness is the ability able to be content with the resources one has to find ways out of tight spots.

And so one of the benefit key enjoyed once they moved away from just a strictly male loader is the fact that they saved on shipping. They have a store. The other competitors do not there.

All all the competitors strictly mail order. And so as I K, S, cost get lower and the efficiency increases, the Prices go down. And so all of I kiss competitors could not match I kiss Prices, so they ban together. And there is a de association, is the national association of further to dealers.

And so the national association of french or dealers does everything in its power multiple times to try to push idea at a business and get in the way of enviro member of their definition as of craftsmen building to gathering of eight pots. So the first thing they do is, at the time, trade fares were really popular and is a way a lot of people discovered in, uh, funny, they want to buy. So he brought stuff from the store to the trade fair.

And so the trade association said, hey, you can't do that. It's against the rules. Fares are just for showing items, not selling them.

So they may you get him banned from selling. Add trade face is a guns line are still attend the trade fair and i'll make sure that my Prices are prominently displayed. And since his Prices were so much lower. They then go and get him banned from even advertising the Price of his further ure.

And here's a description of this in the book, a ridiculous game developed in which petch fied conservative sales thinking was up against a new and incident Price pressure I key was banned again and again again for doing anything, but kept finding new ways of getting around each van. If the company was not allowed to appear itself, IT would send another camped own company exhibit or some reliable supplier. In a letter from the national association of further dealers, I car was like to a monster with seven heads.

If you cut off one another soon grows. So eventually he gets tired. This, and he started his own trade fairs. And then another tactic of the national association of future dealers decided was, I think we're gone to cut you off from your suppliers. So they sent out, they they organize the boy cot.

They told other suppliers, listen, you can sell to one firm like a car, or you know, all of us, but if you sell to ika, we will no longer buy from you. And so now they're starting to lose supply. Now they're also a bunch of them said, okay, we can run anymore.

Some of them that I D do to back this up because this actually really important. We call nursing the supplier. So I talked about this last week with how spaces paid its vendors.

They paid like, and their competence should pay like thirty or sixty or ninety days later. Basics would give you the money that day. And so because they one of their parts as fast as possible.

So like how do we get our urtin possible? We treat our suppliers Better than anybody else. Invaded the exact same thing.

So manufacturer is giving an interview in this book, and he talks about the difference between I and other financial ers. I key a paid within ten days, while others do not pay for three or four months. Nursing the supplier is one of cambridge principles.

One, he's still imports to his staff until this day. So as a result, some suppliers are saying, okay, no, no, I can't break this boy cot. I'm so sorry, I can sell you.

Others remain loyal to I Q, but they would have to, like, deliver things to other addresses. They would remove the logos from the delivery vans so they can high that they were the company making a delivery taker. The'd do I, uh, delivery in the middle nights, I know to find out.

And what his competitors and adverse understand is this conference of them a blessing in for one way on the boy cot. Like, okay, you won't sell this dish chair because, uh, you know other people buying the chair for me. You as well said, if you sell to us, they want to buy anywhere.

What you make like slight alterations to the design is oh, you that because i'm not only to them. And so they start having a differentiator product, a product that no one know their competitors are offering at Prices their competence could match anyways. And in the second way, this was a blessing in disguise as the second out of three ways.

So the blessing in this guys was the first, like OK. This boyko in this construction applies to the country of sweden. We need to start looking abroad for new suppliers.

And so another turning point in in bar cam rates, career history of a is the fact that they start sourcing materials in poland. And so this would bar set about that. The boy cut simply reinforced our unity.

IT was a crisis that became a non crisis as we kept finding new solutions. Member, you cut off one of their heads, another soon grows in I key as business. Physically, the whole matter should be described as a garden rule.

IT regard every problem as a possibility. New problems created a dizzying chance. When we were not allowed to buy the same furnace, others, we were forced to design our own.

And that came to provide us with a style of our own, a design of our own. And from the necessity to secure on deliveries, a chance of rose that intern open up a whole new world to us. That was the beginning of our designing our own furnitures.

And then that is going to directly lead to one of their innovations, which is going to address actually reduce their costs and further then for the critters, it's going to lead to flat packing and self assembled furniture. IT didn't look that way the time. I didn't feel that way the time because he's talking about crying myself, sleep.

He's completed the press. He's very stressed going through all this. But he was the best thing that could have ever this boy cot was the best thing that could have ever happened to him.

And so here's another example of them turning a problem into on the the possibility. So they're now designing the infernal ure. They have other alternative supplies and suppliers.

And so they are working on the catalogue, their phopholiaison a table and one, and they go to pack up the table afterwards. And one of their employees model something that change the structure, if I work, is like, man, take up a lot of space. Why do we take the legs off and put them under the table top? And so that way, if we do that, that changes everything.

And so they make their very first self assembled tables called max. And since itself assembled, we had our first flat parcel. And thus we started a revolution.

And in gore describes IT this way, perhaps I could be said that reality forced the innovation upon us. We have begun to experience a worth some high percentage of damaged furniture and transport, broken table legs, that kind of thing. Now, with flat packing, the less damage occurred during transport, and the lower the free cost war.

That was the logic behind IT. Thus, self assembled book cases, chairs, beds and other pieces successfully appeared. There was also unexpected benefit. So okay, you have less to image and you have wait cheaper shipping costs and now its flat pack.

The customer can take home the furniture that day if you are ordering like a ml from a another furniture like male or you wouldn't get in some cases, you wouldn't get your furniture for months. You could go to a key, a store and pick IT up that day. And then another accidental discovery of this, which was proven after the fact they weren't doing IT because of this.

But IT turns out there's a cognitive bias where because the customer s is now plays a role and actually creating and putting together the furniture, the customer now values I S products more highly. This of bias, which is discovered after the fact I actually all the I Q effect and an ibar, continues to realize benefits from this. What would you call this innovation that was forced upon us? Because now they can go all with back to the source of the manufacturing and design the manufacturing process and make you more efficient as result of flat packing.

And so he says that resulted a design that was not just good, but also, from the start, adapted to machine production and dush cheap to produce. With a design of that kind in the innovation of self assembly, we could save a great deal of money in the factories and on transferred, as well as keep down the Price to the customer. And this goes back to this subsection, sion, when he was a little boy going in the source, like wise, is so at cheap to buy things is so expensive to sell them, that peculiar obsession with distribution.

And so he says, I kept ask myself, why is a product that so cheap to produce is so expensive so quickly? Once past the factory, gay IT was not difficult for me to see the advantages of self assembled furniture and the superiority of flat parcel. Flat parcel saved enormously on story and free, and in the long run they were to be the prerecorded for the next step, customers taking home parcel of large friendship themselves.

And this point is important. We were not the first with this basic idea. There was a uh a small french n circle N K in stock that was reducing the stuff they called knocked down furniture, which is essentially flat packed furniture that you had to somebody yourselves.

The difference was invariable inject that idea into a system and a fly. Will that compounded all these advantages together over decades? He says they just didn't really what commercial dynamic they were concealing. I here was the first to systematically develop that idea commercially.

And so we should get into why in bar was adamant about, I kid never being a public company, and then how he had, he is obsessed, this idea of giving his firm, eternal life. And so he talks about one of the benefits of being a private company is the fact that, you know, you are not for you can grow or not grow. You can grow whatever pay you want.

You can take IT your time or not go along back a friend of my, uh, want to becoming close to the his ears of the people still running the company and he told me something uh, few months ago fast that they said one of the unfair advantages that the the vate companies have is the fact that in in in a case, a case particular in particular, there was like a twenty year period or something like that where, you know, growth was basically flat. They were profitable. They were still making money, but they just weren't growing very fast.

And now they are growing much faster today than they were doing that period. And so in this book, in more or says still today, we want to grow our own pace so that we keep up not just with what is new, but also develop what we already have. I kiss strategy has long been to take half of resources to improve what already exits and the other half to improve its in the future, we move at a somewhat slower pace then if we had had access to unlimited money.

So there is I think this is tied into something that happens later on the book, I think would be beneficial. That was here talks about the iron laws of ika that have been present since the birth of america. Number one, a good cash reserve must always be ensure.

Number two, all property must be owned. Number three, all expansion is to be self financed. Number four, there should be no boosting.

And so one problem he knew we had dissolved was, you know, sweetens h in inherent, the sexes were really high. And he knew he wanted his sons involved in the business. Sons wanted to be involved in the business.

And so he starts thinking about, you know, how do I give this business eternal life? So is not relying on one person, is not reliant on one country and such also, just with these handful questions as himself, how can we keep the future of I care without inherent its taxes bleeding the company death? How can we avoid greedy interest in dangerous what we've built up? How can moves abroad be achieved without personal affecting me in my family in a financially devastating way? So to achieve this, he hires an army of lawyers.

He spends almost a decade. IT is one of the most confusing corporate ownership structures i've ever seen in my tire life. If you go to a kiss, we could be a paged. You can see like a flow chart of all this. I'll try to give you a simple overview of this laboring.

So the original a company becomes a holding company whose profits are moved to attacks exempt nonprofit, who then later moves that money into this foundation called in ka, which is based in the netherlands. Then apart from that, there is a trust which owns a dutch holding company, which then owns another holding company in luxury g, which then owns I key as intellectual property. The book says the business structure that invar with an understatement calls fairly unique in the world is so legally intricate that no outsider is really able to understand that and bizarre.

This foundation that he created now of over fifty years after he created IT, is the fourth largest, technically the fourth largest charity in the world and so far has accomplished bars goal, which was, we're going to self further sure that can be taken apart and resembled, but the company itself can never be dismantled. And so I think the reason that he spent so much time repeating the principles and then doing like leading, essentially the bible study, is what they call IT. He says, never, never gone.

That I here is a concept. And then if we stick to the concept, we will never die. In fact, in the book is not just that their concept company, they call the concept that I hear the sacred concept, the company bible of furniture deals.

Testiment, which I read you earlier, has been reprinted and distributed to over one hundred thousand employees all over the world. They describe this annual sermon that he gives. He says, a when he's doing IT, he is Billy gram.

A preachers become a household god, a revival speaker and moralizing pastor. He makes jokes, tell stories and literally shed a tear. So he's consulting in the book.

Bursting out with tears is very emotionally like emotions are right at the surface. He describes as a leadership, as the nobel art of hugging management, and says he must have hugged several thousand I employees. But I think the most important part of this is to get across that repetition is prestasi ve.

IT is altogether a repetition of forty three previous speeches. The theme is the same, I kiss pho, sophy, cost awareness, the majority of people, the dream of the good capitalist hard work, a mission to seek profit and glory. And then he also repeats the need for humans.

And he says, never be talking in a moment of triana always refer for harder times. He says they push cost awareness at all levels with almost manic frenzy. He explains the laws of I can, why one of them must be that all probably must beyond.

He said owning the properties might slow our pace of growth, but IT provides security. No landlord can come in in ten years time and raise the rap by twenty percent. He believes in the ability to wait out difficulties.

He talks about the importance of gathering unfiltered in tel from the front line. So he's known they, they call the owners dawn raids. He will literally appear unexpectedly ly at a store without warning, sometimes at five thirty in the morning, just to talk with the men delivering goods into the store.

He wasn't know what the security was like, what annoy than the most where they given morning coffee. The people that are close to me on the best say that his greatest anxiety and his all of anxiety says that I care won't survive. They say that he's almost monkey oriented towards the future.

Towards the next day, they say it's impossible to satisfy him and that he will never be satisfied. And if you ask inbar what keep him going, well past know any financial needs, or well past the retirement age. He says, what keep me going is the feeling that, in a wider sense, I am participating in a gigantic project of democratization. And this is mission.

He asked, in what way is an entrepreneur? Can I be of the most use? I asked myself, why do poor people have to put up with such ugly things? Was IT necessary that what was beautiful could be bought only by the league? E, A small lee for large sums of money.

And i've gone on demanding an answer for me all of my life. And so at the end of the book of the author is trying to give a summary, like, who is in bar camper at the man and he reach? Who is the man? We have fAllen to this book.

What shall we call him? Manufactured innovator? The greatest small business entrepreneur world, perhaps all of those role into one or something else, we cannot fail them.

What drives him, what makes him think as he does? And gover his decision, how much, if I care, consist of inbar and how much of camp parties like here? There are days when he seems to prisoners on the system obsessed by expanding his own house well, the same time locked in IT.

The day he is free of ika, life for him will no longer be worth living. He loves IT, always wants to lie close as possible to IT, and never tires of improving IT. He embarked his people with a thousand ideas from a bottom less store thought, crowding in and clamouring to get out.

Ever says a demand in me, says, I have so much to do, I am never satisfied. Something tells me what i'm doing at the moment has to be done Better tomorrow. He comes back again and again with painful self searching in enormous, bitter undertone to his defects.

Even today, behind this multi national tycoon is a country boy with a fierce sense of being an underdog, standing on tip to and peering uneasily through a dull eyes. Am I good enough? Inbar recognizes himself as an outsider, and in that way he is one of us all.

He knows what it's like to be odd to flow out of the establishment, to feel rage against injustices. He has a business distrust of a favourable destiny that keeps his feet on the ground. He is full of regrets and eternal hope.

When asked, he said, would have missed most of my life was never taking the time to be with the children when they were Young. I have also talked about my many defects, my lack of self confidence, my difficulty making decisions, my disastrous organization skills and all the horrible fault that I fully recognized them myself. Fortunately, i've also been given a certain nose for business and a reasonable dose of peasant common sense.

Finally, i'm often asked whether when I was wrong, was I able to predict the development that I care had achieved naturally? Not although my dreams early on and were both great and bold, my life was to be spent demonstrating that a functional and good product does not have to be expensive. That is still true today.

We still have a long way to go. As I have read so many times and have said at the end of hundreds of speeches, we are just at the beginning of a glorious future. And that is where I leave IT for the full story.

Highly recommended reading the book. If you buy the book using the link to and the channels in your packets player are available after that com, you'll be supporting the past. The same time, I will also leave a link dump o to the testament of a finish dealer, which you can read for free online. That is three hundred and seventy books down one thousand ago. And I started again soon.