Bob Beaumont is Chairman of Beaumont Tiles, Australia’s most successful Tile and Bathroom wares retailer. There are over 100 stores with 90 of them being franchise-owned.
The December 2nd, 2020 BE SO GOOD PODCAST featured him sharing his career-story
Bob talked about his journey from high school graduation when he asked his father if he could work in his little 6-person tile store while he thought through his career opportunities. He never left. He’s been Chairman since the 90s.
This is a good story about perseverance, and staying the course.
STRATEGY
Bob stresses the importance of strategy for a business of any size, but insists that the strategy must be flexible. Opportunities sometimes pop up and although they might not have been in the original strategy, CAN prove to fit precisely. He illustrates this with a story about feeling like the minnow that swallowed the whale during a strategic acquisition.
FINANCE
Make friends with the bank before you need to. Bob warns that banks tend to lend you an umbrella when its fine weather and take it away when there’s rain. His advice is get in before the clouds form.
CASH FLOW
Bob has a formula for knowing where your money is, where’s going to be and preparing for its not being anywhere in sight. In general terms, know your cash position in 6 months, and get it more refined to 3 months, one month, even down to a week or a day.
PEOPLE
It is common for employees to have been employed for over 40 years. Many beg to come back after leaving and Beaumont Tiles calls them Two-Timers. You can’t always hire a star straight out of the employment pages or from every application. people are not buils that way. (With over 700 employees across company stores and franchises he should know.) He illustrates this by mentioning employees by name who started at average levels and pace and became executives over time.
GEMS GALORE
Bob drops some pearls and diamonds as we chat. You don’t get to meet many people like Bob Beaumont who will share their story, their philosophy and their values with you so frankly, so this is a golden opportunity to get up close and personal as if you’re in Bob’s office chatting. He returns in Episodes 008 and 020 to talk about Goals and Sales.
Please pass this on to someone in sales who needs to be reminded to stay the course.
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