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Last Update: Monday September 20, 2021

Key Idea: Hire Big Business Experience

Host Hattie Bryant says that Anne was able to go from $2 to $60 million in annual sales because she saw the need for big systems.

Key Question:

A: 

Find some people who have worked in big companies to come work for you.

When Michael joined Anne in her business, the company was doing $2 million in sales. The year we taped this story, they grossed $60 million, selling the same types of products Anne started with in 1975. Learn from Anne that you can have fun, and learn from Michael that someone has to pay attention to the details and build an infrastructure to handle and sustain growth. Having cut his teeth in corporate America, Michael knew systems must be put in place and that technology will always play an important role in the life of any business. Also, Michael knew you have to invest in the future and not use earnings for a fancy personal lifestyle before he took care o fthe needs of the business. The old cash-register mentality had to be replaced with solid accounting practices and dollars set aside for constant upgrading of technology. You can keep your head in the clouds as long as you have your feet on the ground.

Q:  Would the company be where it is today if Anne had not hired Michael?

A: No, Anne’s talent is sales and selecting the right products to carry. Any business that grows past a few million must have a person like Michael. His training and talent took the company down a path Anne would probably not have pursued on her own. She could have sustained the business around $2 million in sales, but she would not be able to service the thousands of customers and work with sales reps without sophisticated technology.

Q: Is it easy for Anne and Michael to work together?

A:
No. To grow a business, you must hire people who have different experience and interests. A person who is different from you is exactly what you need; but, because they are different, you will have conflicts. Anne wants to have fun and sell products that no one really needs. Michael wants to keep track of everything, and to do that he has established company policies and procedures. You don’t want to hire people just because you think they will be easy for you to work with. You want to hire people who have what you don’t have. Research shows that growth companies are formed not by one person, but by teams of people. This is proof that a business cannot reach its potential with just one person calling all the shots.

Think about it

What are your weaknesses? Is there a big company from which you could steal a great employee who can do what you can't do?

Clip from: AMCI with Anne & Michael McGilvray

Dallas, Chicago, Los Angeles, New York City: This story begins like so many  stories, one person goes out selling. Her name is Anne McGilvray and she sold holiday cards. She became as a manufacturer's rep and grew her business to $2M in annual revenues. She then invited her husband, Michael, to join her.

Anne knows how to pick products that capture our lighter side, spark our imaginations, and make us smile; Michael controls the magic of technology that transformed this Mom-and-Pop shop into a $60M per-year major distribution channel to over 60,000 retail chains.  We discover two very talented people who find and work with creative, talented people. Spend some time with this episode of the show and you'll learn what it takes to have the magic touch.

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AMCI, Inc. (AM)

Anne McGilvray, Owner

2332 Valdina
Dallas, TX 75207
2146384438

Visit our web site: http://annemcgilvray.com/

Office: 2146384438

Business Classification:
Retail/Wholesale

Year Founded: 1975

Hire Big Business Experience

HATTIE: (In the Studio) When Michael joined Anne in her business, the company was doing $2 million in sales. This year, they will gross $60 million, selling the same types of products Anne started with in 1975. Learn from Anne that you can have fun, and learn from Michael that someone has to pay attention to the details and build an infrastructure to handle and sustain growth. Having cut his teeth in corporate America, Michael knew systems had to be put in place and that technology will always play an important role in the life of any company. Also, Michael knew you have to invest in the future and not use earnings for a fancy personal lifestyle before the needs of the company's future are taken care of. The old cash-register mentality had to be replaced with solid accounting practices and dollars set aside for constant upgrading of technology. So you can keep your head in the clouds, as long as you have your feet on the ground.

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