WOOLWORTH..the idea is too risky

By
Mortgage and Lending with Free America Realty
A Ten-Cent Idea
By: Author Unknown

When young F. W. Woolworth was a store clerk, he tried to convince his boss to have a ten-cent sale to reduce inventory.

The boss agreed, and the idea was a resounding success. This inspired Woolworth to open his own store and price items at a nickel and a dime. He needed capital for such a venture, so he asked his boss to supply the capital for part interest in the store.

His boss turned him down flat. "The idea is too risky," he told Woolworth. "There are not enough items to sell for five and ten cents." Woolworth went ahead without his boss's backing, and he not only was successful in his first store, but eventually he owned a chain of F. W. Woolworth stores across the nation. Later, his former boss was heard to remark, "As far as I can figure out, every word I used to turn Woolworth down cost me about a million dollars."

 

GREAT STORY

JUDITH BOGGIO

HOME OF THE GRANT PROGRAM..........................BRANCHLENDAMERICA.COM

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Rainer
224,651
Find a Notary Public needAnotary
QEC Internet Services - Long Beach, CA

I firmly believe that opportunity don't come knocking as some will tell it does, but waits silently for you to recognize it.  Apparently his boss didn't recognize the opportunity.  And when you miss opportunity it can sometime cost you a $1 million per word.

Great observation. 

Dec 21, 2007 01:32 PM #1
Rainmaker
404,664
Sal Poliandro - NJ Bergen County Realtor
RE/MAX Properties - Ridgewood, NJ
Short Sale Specialist - CDPE, SRES, SFR, IRES
I love hearing stories like that. You have to have a vision and passion fuels the vision.
Dec 21, 2007 02:52 PM #2
Rainer
19,429
judith boggio
Free America Realty - Patchogue, NY

i am glad you enjoyed the story

judith

Dec 22, 2007 08:45 AM #3
Rainer
19,429
judith boggio
Free America Realty - Patchogue, NY
i love this story too
Jan 02, 2008 09:53 AM #4
Rainer
24,973
Charles G. Hennebeul
AMERICAN CASH SOLUTIONS INC - Melville, NY
My Grandfather worked at the Woolworth building in NYC as MAnager and then in the Woolworth in Newburgh NY which is now the post office(or vice versa I forget)..only thing we have left is a wooden spool, and a box marked Woolworth with adress....oh and the priceless memories from my Aunts and Uncles going after the candy and making ice cream shakes the old fashion way!
Mar 31, 2008 05:58 AM #5
Rainer
19,429
judith boggio
Free America Realty - Patchogue, NY
i also love this story
Apr 13, 2008 07:17 AM #6
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Rainer
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