Bernie Marcus, the founder of Home Depot, passed away this week at the age of 95, but his legacy as a business pioneer lives on. One of the keys to his success was his relentless curiosity and his habit of asking questions. Rather than relying on theories or industry norms, Bernie trusted his common sense and got to the heart of the matter—by talking directly to his customers.
Instead of holding meetings or analyzing data, Bernie understood that the best way to learn what people wanted was to ask the people themselves. He didn’t hesitate to visit stores, walk through communities, and engage with customers face-to-face. By listening to their feedback, he was able to spot trends, predict future demands, and make decisions that led to Home Depot’s massive success.
Marcus’s business journey didn’t start smoothly. At 48, he was fired from his job at Handy Dan, a California hardware chain. But instead of giving up, he had a vision for a new type of store—a DIY paradise for everyday people, with helpful staff and a well-stocked warehouse. Despite facing rejection after rejection from banks and investors, Bernie never lost faith in his idea. His persistence eventually paid off when one sympathetic banker believed in him enough to take a chance, securing the funding Bernie needed to start Home Depot.
Home Depot grew into a retail giant, changing the landscape of home improvement stores. Bernie’s story is a testament to perseverance, belief in your ideas, and the importance of asking the right questions at the right time.
One example of his approach is a story shared by Fran Tarkenton, a close friend and fellow entrepreneur. Bernie once noticed a customer loading lumber into his truck at Home Depot and casually asked, “Don’t you need nails too?” The customer replied, “No, I get my nails down the street. The ones here aren’t good.” Bernie immediately went to the hardware department manager and asked why nails weren’t selling well. He discovered that the nails were bending because of a faulty vendor. Rather than pointing fingers, Bernie simply had the vendor changed, fixing the problem on the spot.
Bernie Marcus not only revolutionized the retail industry but also gave away over $2 billion to various charities, leaving an indelible mark as both a business leader and philanthropist. His story teaches us the importance of asking questions, listening closely, and never giving up on a vision.
