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The Empire Builders Podcast

The Empire Builders Podcast

著者： Stephen Semple and David Young
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 Reverse engineering the success of established business empires.The Empire Builders Podcast マネジメント マネジメント・リーダーシップ マーケティング マーケティング・セールス リーダーシップ 経済学
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  • #237: Chocolate Chip Cookies – An Empire???

    #237: Chocolate Chip Cookies – An Empire???
    2025/12/31
    When your year’s earnings are stolen and you need a quick way to make some cash on the cheap, you invent chocolate chip cookies. Dave Young: Welcome to the Empire Builders Podcast, teaching business owners the not-so-secret techniques that took famous businesses from mom-and-pop to major brands. Stephen Semple is a marketing consultant, story collector and storyteller. I’m Steven’s sidekick and business partner, Dave Young. Before we get into today’s episode, a word from our sponsor, which is, well, it’s us, but we’re highlighting ads we’ve written and produced for our clients. So here’s one of those. [North Texas Gutters Ad] Dave Young: Welcome to the Empire Builders Podcast. Dave Young here, along with Stephen Semple. Gosh, Stephen just keeps coming up with topics that are just so near and dear to my heart, and I think I might know the essence of this. Is it an empire? We’re going to talk about the birth of the chocolate chip cookie. Stephen Semple: Sure, but what’s the empire? There’s a lot sold? Dave Young: There’s a lot of… Boy, if you would have invested in chocolate chip cookies back in the day, think how much you’d have today. I’m guessing this has to do with Toll House- Stephen Semple: Yes. Dave Young: … and the inn… Was it an inn or a woman’s name? Stephen Semple: Yes. Inn. Dave Young: It was an inn. They’ve told the story I think on the bags or something. Anyway, have at it. I’m all in on chocolate chip cookies. Stephen Semple: So it’s the late 1920s and cookies have actually emerged as a business. The National Biscuit Company, Nabisco- Dave Young: 1920s. Stephen Semple: … yeah, has been a top seller for the last 20 years with their Oreo, mainly bought in stores, not made at home. Basically, to really understand the birth, we’ve got to go back to Whitman, Massachusetts, to Ruth Wakefield, who taught Home Ec, and she was also college-educated and she was interested in cooking. Ruth, her husband Ken, quit their job, invest their life savings into converting a 19th-century old home into a restaurant. They want to create a restaurant of their dreams, has these seven tables, doing traditional New England food, even has a kid’s menu with a dessert menu, but by the time they open the doors, it’s 1930. They’ve invested two years in doing this. Dave Young: Oh, no. And? Stephen Semple: And they’re down to their last few dollars. Now, they had picked a location with lots of traffic. They had picked a location that was basically where wealthy people traveled from Boston to Cape Cod and went through this area. They called the restaurant the Toll House. Now, because it was located on an old toll road, it was not the toll building, but it was located on an old toll road. Dave Young: Sure. Stephen Semple: Things started slow, but word got out and it started to get busy and they were known for their desserts, including the simplest. They did this butter pecan cookie that came with ice cream. Soon, customers are requesting the cookie without the ice cream. So they add cookies, they add these cookies as a standalone dessert. It’s 1935. It’s Labor Day. It’s the end of season. They’ve got lots of cash. They’ve done really well, and they are robbed. Dave Young: Oh, no. Stephen Semple: All their money is gone. They’re now at this crisis point because they’re the end of the season- Dave Young: Were they keeping all their money in a cookie jar? Stephen Semple: Perhaps. Basically, it’s the end of the season, they have no money, and they need to make something that is affordable, but it won’t cost much to make so they can create cash. They start with the butter pecan cookie, but then, she has this idea of a chocolate cookie. Dave Young: Yeah, pecans are expensive. Stephen Semple: Right, right. So Ruth says, “Okay, here’s what I’m going to do. I’m going to take a baker’s chocolate bar. I’m going to cut it up and add it to this cookie.” That was the idea. Now, they’re made out of baker’s chocolate, which is unsweetened, and it didn’t work out so well, and so they then started taking a Nestle semi-sweet bar and they took basically an ice pick to that and chip it away and let small pieces into it, which then created this sweetness without it being overly sweet. Dave Young: Yeah, because you’ve got the sweetness of the sugar and the dough and all of that working for you, too. Stephen Semple: Yeah, and they called them chocolate crunch cookies. Dave Young: Chocolate crunch cookies. Stephen Semple: Because remember it was the pecan. They were still a pecan with the chocolate chips. Dave Young: Oh, okay. Stephen Semple: And people started asking for the recipe. In fact, Boston Globe newspaper published the recipe and the recipe went crazy. Now- Dave Young: Sure. Stephen Semple: … enter Edouard Muller, who’s the Nestle CEO, and he’s in the US office. Sales are down 60% because war breaks out in Europe, not down in the US, but he...
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    20 分
  • #236: Porsche – From Inexpensive To Luxury

    #236: Porsche – From Inexpensive To Luxury
    2025/12/17
    Ferdinand wanted to make cars for the people, but the Porsche brand we know is an empire of performance. Dave Young: Welcome to the Empire Builders Podcast, teaching business owners the not-so-secret techniques that took famous businesses from mom and pop to major brands. Stephen Semple is a marketing consultant, story collector, and storyteller. I’m Stephen’s sidekick and business partner, Dave Young. Before we get into today’s episode, a word from our sponsor, which is, well, it’s us, but we’re highlighting ads we’ve written and produced for our clients, so here’s one of those. [ASAP Commercial Doors Ad] Dave Young: Welcome to The Empire Builders Podcast. It’s the podcast where we talk about empires that were built, businesses, business empires. You know what we… If you’ve listened before, you know… Stephen Semple: Something like that. I get it. Businesses that have done pretty well over the years. Dave Young: They started small. Stephen Semple: They started small. Dave Young: They started small and then they got big. They got so big to the point that you could call them an empire. Stephen Semple: That’s it. That’s the idea. Dave Young: It’s a pretty simple premise. Stephen Semple: That’s it. Dave Young: So as we counted down, Steve told me the topic today and it’s Porsche. Stephen Semple: Yes, sir. Dave Young: Porsche. I’m assuming this is the car. Stephen Semple: The car, yes, the car. Dave Young: Okay. Stephen Semple: The car. Dave Young: And I’m trying to… I know some Porsche jokes, but I probably shouldn’t tell those on this show. I’m trying to think if I’ve ever actually been in a Porsche. Stephen Semple: Oh, well then you’ve got to come up and see me, Dave. Dave Young: You own one. I know you own one. Stephen Semple: Well, I have one. Bernier’s got two. I don’t know how many Steve has. Dave Young: I see how it is. I see how it is. Maybe I will tell my Porsche joke. So you guys that own them, do you call it Porscha? Because some of us just say Porsche. Stephen Semple: Well, if you actually take a look back, that’s the proper German pronunciation as Porsche. Dave Young: Porsche, okay. Stephen Semple: And it’s supposed to not be… It’s not Italian Porsche, right? So it’s Porsche. Dave Young: Porsche, Porsche. Okay, I’ll accept that. I’ll accept that. I’m guessing we’re- Stephen Semple: Well, look, you got to always call a dealership to double check. They’ll tell you. Dave Young: Now, if I had to guess where we’re headed to start this off sometime around the 40s, maybe earlier. Stephen Semple: A little earlier than that, actually. It was founded by Ferdinand Porsche in 1931 in Stuttgart, Germany. You’re not far off. But the interesting thing is where the growth really happened, even though that’s when it was founded, when things really started to happen, was actually post-World War II. Dave Young: That makes sense. Stephen Semple: You’re correct on that. Dave Young: So, it started in 31 and by the time you hit the late 30s and 40s, you’re part of the war machine. Stephen Semple: Yes. Dave Young: Okay. Stephen Semple: So it was founded in 1931, Stuttgart, Germany by Ferdinand. And when we take a look at the history of the business for a very long time, they were a part of the VW group, although they were recently spun off into their own separate business. And there’s a lot of shared history between VW and Porsche. A lot of people make fun of the fact that it’s basically a VW. There’s so much connection. Now here’s the other thing is, there’s a lot of connection in Nazi Germany here as well. And I mean- Dave Young: That’s what I was intimating but trying not to say, but yes, there was definitely. Stephen Semple: And not one of these ones of, “Oh, I’m a business and I got sucked up into the machine.” I mean, very early on. Very early on. Ferdinand was a member of the SS following the war, both he and his son were charged. Dave Young: No kidding. Stephen Semple: He served two years in jail. His son six months. So we’re not talking loose connections here. He was a buddy of Adolf. Let’s just put it out there. And if you remember, going back to episode 21, VW was founded by Nazi Germany. So episode 21 about The Beetle, and Ferdinand was the guy who designed the Beetle. Dave Young: Right, right. I remember you saying that, Ferdinand Porsche. Stephen Semple: And look, Porsche has not always had the success it has today. It’s become pretty big. They do 40 billion EU in sales. They have 40,000 employees. They make 300,000 cars. There was a time that they’re making cars in the hundreds and thousands. It wasn’t that long ago. But let’s go back to Germany to the early 1900s. And if we think about Germany at that time, pre-World War II, pre-World War I, ...
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    24 分
  • #235: The Home Depot – Inspired by Wal-Mart

    #235: The Home Depot – Inspired by Wal-Mart
    2025/12/10
    When two employees of Handy Dan hardware store gave this idea to management, they got fired! So, they started Home Depot. Someone’s kicking themselves now! Dave Young: Welcome to the Empire Builders Podcast, teaching business owners the not so secret techniques that took famous businesses from mom-and-pop to major brands. Stephen Semple is a marketing consultant, story collector, and storyteller. I’m Stephen’s sidekick and business partner, Dave Young. Before we get into today’s episode, a word from our sponsor, which is… well, it’s us. But we’re highlighting ads we’ve written and produced for our clients. So here’s one of those. [No Bull RV Ad] Dave Young: Welcome back to the Empire Builders Podcast. I’m Dave Young. That’s Steve Semple whispering in your other ear. And on today’s episode of the Empire Builders- Stephen Semple: [inaudible 00:01:44] your live stereo. Dave Young: We knew that it would only be a matter of time having so recently discussed the Lowe’s Empire that we would be discussing Home Depot, and today is that day. Stephen Semple: Today is that day because really, there’s a pretty shared DNA there. Dave Young: Sure. And again, I always think, “Well, okay, start as a little hardware store and then somebody grew into a big hardware store and then they made a bunch more.” Stephen Semple: It’s a little bit like that. Dave Young: A little bit? Stephen Semple: Except this is a little different. It’s a little bit different. Dave Young: Okay. I always like a good twist. Stephen Semple: There’s a little bit of a twist in this. So it was founded in February 6th, 1978, Marietta, Georgia by Bernard Marcus, Arthur Blank, Ron Brill, Pat Farrah, and Ken Langone. So these guys basically got it started. Dave Young: So it doesn’t go near as far back as Lowe’s. Stephen Semple: Yeah. Lowe’s is a little bit earlier, but not much. And today they have over 2,300 locations. They do 160 billion in revenue with over 450,000 employees. So it’s a big deal. And we all know who the Home Depot is, right? We’ve all pretty much heard of it. Now, a couple of the guys got basically fired from a hardware store in the West Coast called Handy Dan. Dave Young: Handy Dan. Okay. Stephen Semple: And it wasn’t really all that big and it was one-stop. But here’s why they got fired. They kept pestering management saying, “You need to go larger, then you need to go national.” And basically, management got tired of listening to that and fired them. So I told you there was a little twist. So when they left, they called one of Handy Dan’s investors, Ken Langone, and said, “Here’s what we want to do. We want to make 100,000 square foot hardware store, stock everything, make it cheaper, and make it more like a wholesaler. That’s what we want to do.” And they drew their inspiration from Walmart. They’re looking at what Walmart was doing. They said, “We want to do the Walmart thing for hardware and building.” And Ken was like, “Great, let’s do it.” And they drew up a plan that basically said they needed $25 million to get going, and they had to settle on raising three and a half million. So this is important to keep in mind because it shapes a couple of things that they do. And so the first thing that they needed to do… And they had a guy, Pat Farrah join them for merchandising. The first thing that they needed to do was create a name for the company. Now, I don’t know if you remember Crazy Eddie’s, the guy in New York City? Dave Young: Yeah. Stephen Semple: New York City. And he was selling electronics and all this other stuff. Dave Young: But he’s no Handy Dan. Stephen Semple: He’s no Handy Dan, but they were inspired by Crazy Eddie’s. And what I found interesting is in Toronto around the same time, there was a furniture company that started that also was inspired from it because it was Bad Boys. They would dress in the black and white retro, “I’m a prisoner” uniforms. And they’d be like, “Bad Boys. Does anybody have a better price? Nobody.” That was their slogan. But what these guys decided was they were going to call it Bad Bernie’s Buildall. Dave Young: Bad Bernie’s Buildall? Stephen Semple: Bad Bernie’s Buildall. Yes. The investors didn’t like it. That name did not go forth. Dave Young: Of course they didn’t like it. Stephen Semple: Well, because it didn’t have the name Home and all those other things. So they said, “Okay. Well, let’s call it the Home Depot.” Dave Young: Look, Lowe’s doesn’t have the name Home in it either, but it’s not Bad Bernie’s. What was it? Builders? Stephen Semple: Buildall. Dave Young: Buildall? Stephen Semple: Yes. Dave Young: It doesn’t roll off the tongue. It blurts out of your mouth in a not great way. Yeah. I have to side with the investors on this one. Stephen Semple: I have to say, I think even on this one, the investors, they’re often not right, but I think on this one...
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    20 分
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