Key Idea: Enroll The Next Generation In The School of Hard KnocksIn the US, 80% to 90% of businesses are considered to be family owned. Only 30% will survive to the 2nd generation, 12% to the 3rd and just 3% to the 4th. The reason it is so important that family-owned companies succeed is that they create 78% of all jobs in this country. |
Key Question:A:
Require your children to learn the business from the bottom up and to be excellent at everything they do. Marcel, Gabriel and Patricia have worked in and around the business all of their lives. They have swept the floors and have been taught to respect their heritage. Think about itAre your children involved in your business? At what level? Are you preparing them adequately for their future roles? Clip from: Navarro Discount PharmaciesMiami: In this city, a destination for new Spanish-speaking Americans, finding somebody who understands you, knows and feels your pain, is a seismic relief. With a profound empathy, this family's business is committed to service and to solving very big problems for their customers. With an abiding willingness-to-serve, this family's business is one of the most profitable per square foot of any retail store in the USA. When we taped this story there were 12 locations generating $160 million in annual sales and jobs for nearly 600. So many new medicines are announced every day, it is almost impossible for anyone to keep up. But, those new Americans with a limited command of English, and our elders who are taking multiple medicines, have special challenges. This family has always been committed to serving their customers. Eighteen-hour days, seven-days-a-week -- whatever it took to get the job done and keep their customers in good health -- these people have done it. Opened in the United States in 1961, the two sons became pharmacists; and today, with 600+ employees, they have become the most productive pharmacy per square foot in the USA and they are a force for good that is helping to reshape Miami as a world-class community. A classic family business, three generations of compassionate people are involved at every level of the operations. Go to all the key Ideas and videos... Navarro Discount PharmaciesJose Navarro, CEO
5959 NW 37th Ave Visit our web site: http://www.navarropharmacies.com
Office: 305-633-3000
Business Classification: Year Founded: 1961 Enroll The Next Generation In The School of Hard KnocksGABRIEL: This piece was for Valentine's, and you see the focus of it. I think that one quarter of it is devoted to fragrances. Not a member yet? Learn! Be empowered! Join us! |
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