furnitureLeadershipManagementmarketingmattress industry

The Law Of Resources

Before I get started I guess I should tell you that I have decided to continue writing this blog. As soon as I posted that I was no longer going to write Q’s Views I had a few friends reach out and suggest to me that I should reconsider that decision. So I did. There is still a lot going on in this industry and I have many thoughts to share (your shocked I’m sure), so for now Q’s Views will continue. I am grateful to those friends of mine because I know it is the right call.

Chapter 22 will bring to a close my review of this classic book, 22 Immutable Laws of Marketing.  The last chapter of the book is the Law of Resources which says if you don’t have money then get some. One of the biggest mistakes new business ventures make is to try to go to market under capitalized. If something happens and they don’t have the funds to react, it almost always ends badly for them. Having money simply means you have the leverage that can keep your motor running until that big break happens but if you don’t have that leverage, you could end up giving up more than you want to stay in business.


Some big news today from Leggett and Platt, my old employer. Dave Haffner is stepping down as CEO and is being replaced by Karl Glassman the current President/COO. Haffner has been the CEO at Leggett since 2006 and has been successful restructuring the company and shifting strategy. Under his leadership the stock price is up to around $50 a share and the company is looking at record earnings in 2015. There are a lot of share holders out there that are very happy about that result so on behalf of them, great job Dave.

There are very few people that I respect as much as I do my own father when it comes to business but Karl is one of them. Dave has been the CEO of Leggett and Platt and I know the partners at L&P are grateful for his contribution, but Karl has long been the heart and soul of that company. Karl is a a terrific leader and I am sure it has a lot to do with how he is able to connect with his team. Yes he is highly intelligent, great with strategy etc. but he knows how to empower people in a very genuine way. Perry Davis was always my boss at Leggett and was a great supporter of what I was doing, but that went for Karl as well. Karl and I used to give each other a lot of crap when we were together just because it was fun to do, but when it came down to getting support when I needed it, I could always count on him.  Leggett and Platt has done some great things in the past but there is much more on the horizon now that Karl is steering the ship. To him and to the entire company I say congratulations; it is well deserved!

Quinn's and Glassman's at Seena Magowitz
Bridget and Mark with Cathi and Karl

Karl tells me that he doesn’t read this blog (most certainly to irritate me or he can’t read I’m not sure which), so what I say next won’t matter… now that he has this big job, maybe he can afford some new ties and a fresh hair cut. He has to start acting the part.


Leave a Reply

Your email address will not be published. Required fields are marked *