Have you ever considered where stores get their merchandise? Is there just a store out there that’s a store for, well, stores?
Robert Price spoke with hosts, Robert Smith and Jacob Goldstein, about this very idea in an NPR interview. He had opened a warehouse club store where other people could only shop if you owned a business. But the small businesses weren’t coming. So someone suggested allowing non-business owners to shop there, too.
“And Price was afraid that it would alienate the business owners who were the true members of this club. And they he figured, you know, businesses aren’t really going for this anyway so let’s try it.”
Suddenly, their business was a success! One of their employees, Jim Cost, went on to start his own warehouse store. Thus, Costco was born! Sometimes, it means taking a risk to become successful!