Not many people knew Ingvar Kamprad, but almost all of us know IKEA the company he created.
From one of the most remote, poverty-stricken corners of Sweden to becoming one of the world’s richest men
with a net worth of $30+ billion. , Ingvar Kamprad broke the rules of retail when he created IKEA and it worked.
He faced lots of difficulties, made lots of mistakes and had to face too many competitors. Yet he overcame all these and became hugely successful. To this day, even though he is rich, he lives a very humble lifestyle.
Just how did Ingvar do it? Let us check out this wonderful rags to riches success story.
What you could learn from this episode:
- His painful past.
- The person who had a big impact on him.
- How he discovered that he can make money at a very young age.
- How he overcame his over-sleeping habit.
- How he hit upon the name IKEA.
- How he discovered the one item which would be in demand.
- What one thing he focused on, which attracted customers.
- How the accidentally discovered how to easily transport his heavy items.
- What he liked about America’s Supermarkets and what he introduced in his stores.
- How he hit upon the idea for a warehouse in his store.
- A big negative press release and how he handled it.
