March 21, 2023

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Back to the Basics: Wisdom from JC Penney

Someone is always out there with a “get rich quick scheme”, showing us how to get faster results without really trying.

I have even seen programs that allow you to become a master salesman without ever asking for the orders. Yes, there are many “wonder” products and plans out there, but very few that actually get results. It comes back to basics. Whether it happens to be a sporting event or in sales, nothing but nothing beats the basics for results. 

JC Penney was a remarkable man who thoroughly believed in always following the basics. Back in 1902, when he opened his first Golden Rule Store in Kemmerer, Wyoming, he developed a mission statement and 6 valid basic principles that continue to govern the Penney organization: 

  1. BE PREPARED. Know all about your business and a little more than other people know. This allows you, as a general rule, to achieve what you are prepared for. 
  2. WORK HARD. The only luck that you are justified in banking on is hard work. This means sacrifice, persistent effort and dogged determination. Growth is never by chance; it is the result of effort.  
  3. BE HONEST. This means the finer honesty of purpose that will not allow you to give less than your best. That will make you count not your hours, but your duties and opportunities. 
  4. HAVE CONFIDENCE IN OTHERS. A person’s value increases when he receives responsibility and feels that he is being relied upon. Use good business judgement, of course. Do not throw away common sense but believe in yourself and your fellows. 
  5. APPEAL TO THE SPIRIT. It is the spirit of the individuals, men and women who are at the foundation of the enterprise, which will solve problems, conquer difficulties, and achieve individual and collective successes.  
  6. PRACTICE THE GOLDEN RULE. Do unto others as you would have others do unto you. It will work for you if you apply it diligently.  

From these principles he developed the Penney Mission Statement: 

  • To serve the public, as nearly as we can, to its complete satisfaction.  
  • To offer the best possible dollar’s worth of quality and value.  
  • To strive constantly for a high level of intelligent and helpful service.  
  • To charge a fair profit for what we offer and not all that the traffic will bear.  
  • To apply this test to everything we do. “Does it square with what is right and just?” 

He had a great vision back in 1902, and one that we can readily apply to our businesses today.  

The vision of “Basics”:  

  • Be Prepared,  
  • Work Hard,  
  • Have Confidence in Others,  
  • Appeal to the Spirit, and  
  • Practice the Golden Rule.  

“Basics” that involve all things that made his great company what it is today! 

I challenge you to “Return to the Basics” in your business. Review those things that build relationships, develop consistent sales, solidify your profit, and mark your place in the community. Yes, “Return to the Basics”. Follow the dictates of JC Penney! What more can be said! 

My New Books!

“One may walk over the highest mountain
-- one step at a time.”

~ John Wannamaker
 

In my book, I provide a theme for each month of the year. March's focus is on Motivation.

 

Visit me on
Social Media for more excerpts and inspiration from the book!

             


Herman's Books


Herman's Books

This companion eBook includes
extra content about each of the
12 themes in
"Thoughts Along the Way".
>> Read the story of why I wrote my first books HERE. <<
 

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Herman DixonHerman Dixon
Author, Speaker, Executive Advisor
ShelterBox Hall of Fame Member
President’s Volunteer Service Award

Phone: (304) 839-5101
Web:    https://thinkbigdixon.com
Emailhd@thinkbigdixon.com

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Author of the book, Thoughts Along The Way and the forthcoming books, Confessions of A Poor Country Boy and Hermanisms.