Latest / Omni Talk Retail / How Do it Best Doubled in Size Overnight and What's Next | Global DIY Summit 2026

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How Do it Best Doubled in Size Overnight and What's Next | Global DIY Summit 2026 · Omni Talk Retail

• 0:00
  Hello,
• 0:00
  everyone.
• 0:00
  This
• 0:00
  is
• 0:01
  Omnitalk
• 0:01
  Retail.
• 0:01
  I'm
• 0:02
  Chris
• 0:02
  Walton,
• 0:02
  and
• 0:02
  I'm
• 0:02
  coming
• 0:03
  to
• 0:03
  you
• 0:03
  live
• 0:03
  once
• 0:03
  again
• 0:04
  from
• 0:04
  the
• 0:04
  DIY
• 0:05
  Summit
• 0:06
  in
• 0:06
  Amsterdam
• 0:07
  from
• 0:08
  the
• 0:08
  Vuzion
• 0:09
  podcast
• 0:09
  studio.
• 0:10
  Thanks
• 0:10
  to
• 0:10
  Vuzion
• 0:11
  for
• 0:11
  making
• 0:11
  all
• 0:11
  of
• 0:11
  our
• 0:11
  coverage
• 0:12
  at
• 0:12
  the
• 0:13
  conference
• 0:13
  possible.
• 0:14
  Now,
• 0:14
  joining
• 0:14
  me
• 0:15
  is
• 0:15
  a
• 0:15
  man
• 0:15
  that
• 0:15
  likely
• 0:16
  needs
• 0:16
  no
• 0:16
  introduction
• 0:17
  if
• 0:17
  you're
• 0:17
  at
• 0:17
  the
• 0:17
  conference,
• 0:18
  because
• 0:18
  he
• 0:18
  hit
• 0:18
  the
• 0:19
  main
• 0:19
  stage
• 0:20
  earlier
• 0:20
  this
• 0:20
  morning.
• 0:21
  And
• 0:21
  that
• 0:21
  is
• 0:21
  Dan
• 0:21
  Starr,
• 0:22
  the
• 0:22
  president
• 0:22
  and
• 0:23
  CEO
• 0:24
  of
• 0:24
  Do
• 0:24
  It
• 0:24
  Best
• 0:24
  group.
• 0:25
  Dan,
• 0:25
  thanks
• 0:25
  for
• 0:25
  joining
• 0:26
  us.
• 0:26
  Happy
• 0:26
  to
• 0:26
  do
• 0:26
  it.
• 0:27
  Thrilled
• 0:27
  to
• 0:27
  be
• 0:27
  here.
• 0:27
  Yeah.
• 0:28
  Tell
• 0:28
  us
• 0:28
  about
• 0:28
  yourself.
• 0:29
  Your
• 0:29
  background's
• 0:30
  really
• 0:30
  interesting.
• 0:30
  And
• 0:30
  also
• 0:30
  about
• 0:31
  Do
• 0:31
  It
• 0:31
  Best.
• 0:32
  Curious
• 0:32
  what
• 0:32
  all
• 0:32
  comprises
• 0:33
  Do
• 0:33
  It
• 0:33
  Best?
• 0:35
  Yeah,
• 0:35
  not
• 0:35
  a
• 0:35
  problem
• 0:35
  at
• 0:36
  all.
• 0:36
  When
• 0:36
  I
• 0:36
  say
• 0:36
  Do
• 0:36
  It
• 0:36
  Best
• 0:36
  group,
• 0:37
  that
• 0:37
  kind
• 0:37
  of
• 0:37
  implies
• 0:38
  there's
• 0:38
  more
• 0:38
  than
• 0:38
  one
• 0:39
  organization
• 0:39
  going
• 0:39
  on
• 0:40
  there.
• 0:40
  So,
• 0:40
  yes,
• 0:41
  the
• 0:41
  legacy
• 0:41
  company
• 0:42
  of
• 0:42
  Do
• 0:42
  It
• 0:42
  Best
• 0:43
  is
• 0:43
  a
• 0:43
  wholesale
• 0:44
  distribution
• 0:44
  company
• 0:44
  across
• 0:45
  the
• 0:45
  US
• 0:46
  we
• 0:46
  acquired
• 0:47
  True
• 0:47
  Value,
• 0:48
  which
• 0:48
  also
• 0:48
  is
• 0:49
  a
• 0:49
  wholesale
• 0:49
  distribution
• 0:50
  company,
• 0:50
  and
• 0:50
  we're
• 0:51
  integrating
• 0:51
  the
• 0:51
  two.
• 0:52
  Right
• 0:52
  now.
• 0:53
  We're
• 0:53
  about
• 0:54
  most
• 0:54
  of
• 0:54
  the
• 0:55
  way
• 0:55
  through
• 0:55
  that
• 0:55
  integration,
• 0:56
  but
• 0:56
  the
• 0:56
  logistics
• 0:57
  driving
• 0:58
  trucks
• 0:58
  and
• 0:58
  distribution
• 0:59
  centers
• 0:59
  takes
• 0:59
  a
• 0:59
  little
• 0:59
  bit
• 1:00
  longer,
• 1:00
  as
• 1:00
  you
• 1:00
  might
• 1:00
  imagine.
• 1:01
  So
• 1:01
  we're
• 1:01
  kind
• 1:01
  of
• 1:01
  running
• 1:02
  two
• 1:02
  different
• 1:02
  PLs
• 1:03
  right
• 1:03
  now,
• 1:03
  but
• 1:04
  those
• 1:04
  two
• 1:04
  are
• 1:04
  part
• 1:04
  of
• 1:04
  that
• 1:04
  group
• 1:05
  as
• 1:05
  well
• 1:05
  as
• 1:05
  sort
• 1:06
  of
• 1:06
  an
• 1:06
  E
• 1:06
  commerce
• 1:07
  business.
• 1:07
  So
• 1:07
  all
• 1:08
  those
• 1:08
  kind
• 1:08
  of
• 1:08
  fold
• 1:08
  up
• 1:08
  within
• 1:09
  Do
• 1:09
  It
• 1:09
  Best
• 1:09
  group.
• 1:10
  I
• 1:10
  am
• 1:10
  the
• 1:10
  CEO
• 1:10
  of
• 1:11
  all
• 1:11
  that.
• 1:11
  Got
• 1:11
  it,
• 1:12
  Got
• 1:12
  it.
• 1:12
  Okay.
• 1:12
  So
• 1:13
  the
• 1:13
  theme
• 1:13
  of
• 1:13
  the
• 1:13
  conference
• 1:14
  is
• 1:14
  I
• 1:14
  want
• 1:14
  to
• 1:14
  make
• 1:15
  sure
• 1:15
  I
• 1:15
  get
• 1:15
  this
• 1:15
  right.
• 1:15
  Accelerating
• 1:16
  in
• 1:16
  a
• 1:16
  new
• 1:17
  global
• 1:17
  reality.
• 1:18
  Yeah,
• 1:18
  yeah.
• 1:19
  Cool
• 1:19
  theme,
• 1:19
  huh?
• 1:20
  What
• 1:20
  does
• 1:20
  acceleration
• 1:21
  look
• 1:21
  like
• 1:22
  for
• 1:22
  you
• 1:23
  when
• 1:23
  you
• 1:23
  have
• 1:24
  a
• 1:24
  network
• 1:24
  of
• 1:24
  independently
• 1:25
  owned
• 1:25
  hardware
• 1:26
  stores?
• 1:26
  Like,
• 1:26
  how
• 1:26
  do
• 1:26
  you
• 1:27
  think
• 1:27
  about
• 1:27
  that
• 1:27
  term,
• 1:27
  acceleration?
• 1:28
  Well,
• 1:29
  right
• 1:29
  now,
• 1:30
  what
• 1:30
  that
• 1:31
  has
• 1:32
  to
• 1:32
  mean
• 1:32
  for
• 1:32
  me
• 1:32
  is
• 1:33
  the
• 1:33
  fact
• 1:33
  that
• 1:33
  In
• 1:34
  November
• 1:34
  of
• 1:34
  2024,
• 1:35
  we
• 1:35
  acquired
• 1:35
  TrueValue.
• 1:36
  And
• 1:37
  they
• 1:37
  were
• 1:38
  similarly
• 1:38
  sized
• 1:39
  in
• 1:39
  terms
• 1:39
  of
• 1:39
  the
• 1:39
  number
• 1:40
  of
• 1:40
  distribution
• 1:40
  centers,
• 1:41
  in
• 1:41
  terms
• 1:41
  of
• 1:42
  the
• 1:42
  number
• 1:42
  of
• 1:42
  retailers
• 1:43
  served.
• 1:43
  They're
• 1:44
  about
• 1:44
  the
• 1:44
  same
• 1:44
  size
• 1:44
  company
• 1:45
  as
• 1:45
  Do
• 1:45
  It
• 1:45
  Best.
• 1:45
  So
• 1:46
  what
• 1:46
  that
• 1:46
  meant
• 1:46
  acceleration
• 1:47
  to
• 1:47
  me
• 1:47
  was
• 1:47
  accelerate
• 1:48
  integration
• 1:49
  because
• 1:49
  you're
• 1:49
  eliminating
• 1:49
  cost
• 1:50
  and
• 1:50
  you're
• 1:50
  gaining
• 1:50
  efficiency.
• 1:52
  That's
• 1:52
  still
• 1:52
  what
• 1:52
  it
• 1:52
  means
• 1:53
  to
• 1:53
  me
• 1:53
  is
• 1:53
  move
• 1:54
  faster.
• 1:54
  There's
• 1:54
  a
• 1:55
  sense
• 1:55
  of
• 1:55
  urgency
• 1:56
  in
• 1:56
  bringing
• 1:56
  together
• 1:57
  those
• 1:57
  organizations
• 1:58
  in
• 1:58
  order
• 1:58
  to
• 1:58
  realize
• 1:59
  the
• 1:59
  value
• 1:59
  of
• 1:59
  what
• 2:00
  we
• 2:00
  acquired.
• 2:00
  Right.
• 2:01
  So
• 2:02
  how
• 2:02
  do
• 2:02
  you
• 2:02
  do
• 2:03
  that?
• 2:03
  Like,
• 2:03
  how
• 2:03
  do
• 2:03
  you.
• 2:03
  How
• 2:03
  do
• 2:04
  you
• 2:04
  make
• 2:04
  that
• 2:04
  happen?
• 2:04
  How
• 2:05
  do
• 2:05
  you
• 2:05
  do
• 2:05
  that
• 2:05
  efficiently?
• 2:06
  What
• 2:06
  are
• 2:06
  some
• 2:06
  of
• 2:06
  the
• 2:06
  tips
• 2:07
  and
• 2:07
  tricks?
• 2:09
  There
• 2:09
  are
• 2:09
  none.
• 2:10
  Just
• 2:11
  brute
• 2:11
  force.
• 2:12
  Is
• 2:12
  that
• 2:12
  what
• 2:13
  it
• 2:13
  is?
• 2:13
  Hard
• 2:13
  work?
• 2:13
  In
• 2:14
  many
• 2:14
  ways,
• 2:14
  it's.
• 2:14
  It's
• 2:15
  just
• 2:15
  hard
• 2:15
  work
• 2:16
  because
• 2:16
  you
• 2:16
  have
• 2:16
  so
• 2:17
  many
• 2:17
  Things.
• 2:17
  You
• 2:17
  have
• 2:18
  IT
• 2:18
  systems
• 2:19
  that
• 2:19
  you
• 2:19
  need
• 2:19
  to
• 2:19
  migrate
• 2:20
  to
• 2:20
  one
• 2:20
  platform
• 2:21
  on
• 2:21
  and
• 2:21
  that's
• 2:21
  multiple
• 2:22
  IT
• 2:22
  systems.
• 2:23
  You've
• 2:24
  got
• 2:25
  SKUs
• 2:25
  within
• 2:26
  a
• 2:26
  warehouse.
• 2:27
  Supply
• 2:28
  chains
• 2:28
  are
• 2:28
  not
• 2:28
  easily
• 2:29
  changed.
• 2:30
  They're
• 2:30
  not
• 2:30
  changed
• 2:30
  overnight
• 2:31
  for
• 2:31
  certain.
• 2:32
  So
• 2:32
  you've
• 2:33
  got
• 2:33
  to
• 2:33
  consolidate
• 2:35
  what
• 2:35
  manufacturer
• 2:36
  programs
• 2:37
  you
• 2:37
  have.
• 2:38
  If
• 2:38
  I
• 2:38
  have
• 2:39
  80,000
• 2:39
  SKUs
• 2:39
  in
• 2:40
  a
• 2:40
  distribution
• 2:40
  center
• 2:40
  for
• 2:41
  do
• 2:41
  it
• 2:41
  best
• 2:41
  and
• 2:42
  80,001
• 2:43
  for
• 2:43
  true
• 2:43
  value
• 2:44
  and
• 2:44
  about
• 2:44
  50%
• 2:45
  of
• 2:45
  them
• 2:45
  are
• 2:46
  the
• 2:46
  same,
• 2:47
  you
• 2:47
  better
• 2:47
  start
• 2:47
  changing
• 2:48
  those
• 2:48
  SKUs
• 2:48
  and
• 2:48
  consolidate.
• 2:49
  So
• 2:49
  it's
• 2:50
  what
• 2:50
  you
• 2:50
  might
• 2:51
  think
• 2:51
  of
• 2:51
  as
• 2:51
  little
• 2:51
  things
• 2:52
  like
• 2:52
  that
• 2:52
  that
• 2:52
  are
• 2:53
  enormous
• 2:53
  lift
• 2:54
  and
• 2:54
  it's
• 2:54
  moving
• 2:55
  quickly
• 2:55
  to
• 2:55
  get
• 2:55
  that
• 2:55
  done.
• 2:56
  Yeah.
• 2:56
  One
• 2:56
  of
• 2:56
  the
• 2:56
  things
• 2:56
  I
• 2:56
  was
• 2:56
  gonna
• 2:57
  ask
• 2:57
  you
• 2:57
  is
• 2:57
  like,
• 2:57
  is
• 2:57
  there
• 2:57
  any
• 2:57
  secret
• 2:58
  sauce
• 2:58
  you
• 2:58
  can
• 2:58
  share
• 2:59
  in
• 2:59
  terms
• 2:59
  of
• 2:59
  making
• 3:00
  something
• 3:00
  like
• 3:00
  that
• 3:00
  work?
• 3:01
  Cause
• 3:01
  it
• 3:01
  seems
• 3:01
  like
• 3:01
  you
• 3:01
  all
• 3:02
  have
• 3:02
  been
• 3:02
  successful
• 3:03
  on
• 3:03
  it.
• 3:03
  And
• 3:04
  one
• 3:04
  of
• 3:04
  the
• 3:04
  things
• 3:04
  I
• 3:04
  was
• 3:04
  thinking
• 3:04
  about
• 3:04
  too
• 3:05
  from
• 3:05
  what
• 3:05
  you
• 3:05
  just
• 3:05
  said
• 3:05
  is
• 3:06
  I
• 3:06
  bet
• 3:06
  you're
• 3:07
  doing,
• 3:07
  maybe
• 3:07
  you're
• 3:08
  not
• 3:08
  actually.
• 3:08
  So
• 3:08
  I'm
• 3:08
  gonna
• 3:09
  ask
• 3:09
  you,
• 3:09
  are
• 3:09
  you
• 3:09
  doing
• 3:09
  more
• 3:10
  inspect
• 3:10
  what
• 3:10
  you
• 3:11
  expect
• 3:12
  since
• 3:12
  the
• 3:12
  acquisition
• 3:13
  than
• 3:13
  you
• 3:13
  were
• 3:13
  prior
• 3:14
  to
• 3:14
  or
• 3:15
  is
• 3:15
  it
• 3:15
  just
• 3:16
  something
• 3:16
  that
• 3:16
  you're
• 3:16
  always
• 3:17
  doing
• 3:17
  in
• 3:17
  your
• 3:17
  roles?
• 3:18
  Probably
• 3:18
  always
• 3:18
  doing
• 3:19
  is
• 3:19
  probably
• 3:19
  more
• 3:20
  accurate
• 3:20
  and
• 3:21
  so
• 3:21
  much
• 3:21
  is
• 3:21
  changing.
• 3:23
  Inspect
• 3:24
  seems
• 3:24
  to
• 3:25
  imply
• 3:25
  that
• 3:25
  you're
• 3:26
  reviewing
• 3:26
  something
• 3:27
  with
• 3:27
  reference
• 3:28
  to
• 3:28
  an
• 3:28
  expected
• 3:28
  standard.
• 3:29
  Okay.
• 3:30
  In
• 3:30
  a
• 3:30
  high
• 3:31
  change
• 3:31
  environment,
• 3:32
  I
• 3:32
  think
• 3:32
  it
• 3:33
  probably
• 3:33
  plays
• 3:34
  out
• 3:34
  a
• 3:34
  little
• 3:34
  differently
• 3:35
  than
• 3:35
  that.
• 3:35
  You're
• 3:35
  not
• 3:35
  inspecting
• 3:36
  that.
• 3:36
  Your
• 3:37
  messing
• 3:38
  with
• 3:38
  the
• 3:38
  whole
• 3:38
  thing.
• 3:39
  You're
• 3:39
  building
• 3:39
  it.
• 3:39
  You're
• 3:40
  building
• 3:40
  it
• 3:40
  as
• 3:40
  you
• 3:41
  go
• 3:41
  and
• 3:41
  you're
• 3:41
  trying
• 3:42
  to
• 3:42
  move
• 3:42
  as
• 3:42
  quickly
• 3:42
  as
• 3:42
  you
• 3:43
  possibly
• 3:43
  can.
• 3:43
  I
• 3:44
  think
• 3:44
  that's
• 3:44
  a
• 3:44
  more,
• 3:45
  I
• 3:45
  don't
• 3:45
  know,
• 3:45
  apt
• 3:46
  description
• 3:46
  of
• 3:46
  what
• 3:46
  we're
• 3:46
  going
• 3:47
  through
• 3:47
  right
• 3:47
  now.
• 3:47
  How
• 3:47
  do
• 3:47
  you
• 3:48
  keep
• 3:48
  your
• 3:48
  head
• 3:48
  around
• 3:50
  if
• 3:50
  you're
• 3:50
  building
• 3:50
  the
• 3:51
  right
• 3:51
  thing?
• 3:51
  Because
• 3:51
  I
• 3:51
  feel
• 3:52
  like
• 3:52
  in
• 3:52
  this
• 3:52
  situation
• 3:52
  you
• 3:53
  could
• 3:53
  get,
• 3:53
  you
• 3:54
  could
• 3:54
  get
• 3:54
  your
• 3:54
  head
• 3:54
  tied
• 3:54
  in
• 3:55
  knots
• 3:55
  trying
• 3:55
  to
• 3:55
  figure
• 3:55
  out
• 3:56
  where
• 3:56
  to
• 3:56
  go
• 3:56
  next.
• 3:56
  Yeah.
• 3:57
  The
• 3:57
  good
• 3:57
  news
• 3:57
  for
• 3:57
  us
• 3:58
  is
• 3:58
  we've
• 3:58
  been
• 3:58
  very,
• 3:59
  very
• 3:59
  efficient
• 4:00
  at
• 4:00
  hard
• 4:00
  lines
• 4:01
  distribution
• 4:01
  for
• 4:02
  80
• 4:02
  years.
• 4:03
  We
• 4:03
  know
• 4:03
  what
• 4:03
  we're
• 4:04
  doing
• 4:04
  and
• 4:05
  so
• 4:05
  it's
• 4:05
  less
• 4:06
  about,
• 4:06
  gosh,
• 4:06
  are
• 4:06
  we
• 4:07
  doing
• 4:07
  this
• 4:07
  the
• 4:07
  right
• 4:07
  way?
• 4:08
  I
• 4:08
  think
• 4:08
  we
• 4:08
  have
• 4:08
  confidence,
• 4:09
  proven
• 4:09
  confidence
• 4:10
  that
• 4:11
  we
• 4:11
  do
• 4:11
  this
• 4:11
  and
• 4:11
  we
• 4:12
  do
• 4:12
  this
• 4:12
  well.
• 4:13
  It's
• 4:13
  part
• 4:13
  of
• 4:13
  the
• 4:13
  reason
• 4:14
  why
• 4:14
  we're
• 4:14
  so
• 4:14
  impatient
• 4:15
  to
• 4:15
  eliminate
• 4:16
  all
• 4:16
  these
• 4:16
  things
• 4:16
  that
• 4:17
  we
• 4:17
  see
• 4:17
  as
• 4:17
  duplicate
• 4:17
  cost.
• 4:19
  None
• 4:20
  of
• 4:20
  those.
• 4:21
  It's
• 4:21
  just,
• 4:21
  I
• 4:22
  think
• 4:22
  it
• 4:23
  grinds
• 4:23
  the
• 4:23
  gears
• 4:24
  of
• 4:24
  people
• 4:24
  within
• 4:25
  our
• 4:25
  organization
• 4:26
  to
• 4:26
  be
• 4:26
  running
• 4:26
  two
• 4:27
  trucks
• 4:27
  over
• 4:28
  the
• 4:28
  same
• 4:28
  miles.
• 4:29
  That's
• 4:30
  another
• 4:30
  example.
• 4:31
  So
• 4:31
  eliminating
• 4:32
  that
• 4:32
  as
• 4:32
  soon
• 4:32
  as
• 4:32
  possible
• 4:33
  is
• 4:33
  the
• 4:33
  main
• 4:33
  thing.
• 4:33
  Yeah.
• 4:34
  So
• 4:34
  that,
• 4:34
  I
• 4:34
  mean,
• 4:34
  God,
• 4:35
  there's
• 4:35
  a
• 4:35
  lot
• 4:35
  of
• 4:35
  nuggets
• 4:35
  right
• 4:35
  there.
• 4:36
  So
• 4:36
  this
• 4:36
  interview
• 4:37
  is
• 4:37
  great
• 4:37
  already.
• 4:37
  So,
• 4:37
  like,
• 4:37
  yes,
• 4:38
  what
• 4:38
  I'm
• 4:38
  hearing
• 4:38
  from
• 4:38
  you
• 4:39
  right
• 4:39
  there
• 4:39
  is
• 4:39
  like,
• 4:39
  you
• 4:39
  know,
• 4:40
  anywhere
• 4:40
  you
• 4:40
  have
• 4:40
  duplicate,
• 4:41
  duplicate
• 4:41
  costs.
• 4:42
  Be
• 4:42
  laser
• 4:43
  focused
• 4:43
  on
• 4:43
  getting
• 4:44
  that
• 4:44
  out
• 4:44
  of
• 4:44
  the
• 4:44
  PNL.
• 4:45
  Yes,
• 4:45
  100%.
• 4:46
  Okay.
• 4:46
  Yeah.
• 4:47
  So
• 4:47
  I'm
• 4:47
  curious
• 4:47
  then,
• 4:47
  what
• 4:48
  Was
• 4:48
  there
• 4:48
  anything
• 4:49
  that
• 4:49
  you
• 4:49
  found
• 4:49
  simpler
• 4:50
  than
• 4:50
  you
• 4:50
  expected
• 4:51
  during
• 4:51
  this
• 4:51
  process
• 4:51
  and
• 4:52
  also
• 4:52
  anything
• 4:52
  you
• 4:52
  found
• 4:53
  harder
• 4:53
  than
• 4:53
  you
• 4:54
  expected
• 4:54
  during
• 4:54
  this
• 4:54
  process?
• 4:55
  Yeah,
• 4:55
  I
• 4:56
  think
• 4:56
  the
• 4:56
  simpler
• 4:57
  thing
• 4:57
  that
• 4:57
  I
• 4:57
  found
• 4:58
  was
• 4:59
  trying
• 4:59
  to
• 5:00
  communicate
• 5:01
  to
• 5:01
  True
• 5:01
  Value
• 5:02
  retailers
• 5:03
  and
• 5:03
  members
• 5:03
  of
• 5:04
  the
• 5:04
  employees,
• 5:04
  members
• 5:05
  of
• 5:05
  the
• 5:05
  True
• 5:05
  Value
• 5:05
  team,
• 5:06
  the
• 5:07
  cultural
• 5:09
  sort
• 5:09
  of
• 5:12
  the
• 5:12
  cultural
• 5:13
  mandate,
• 5:13
  the
• 5:13
  cultural
• 5:14
  identity
• 5:16
  of
• 5:16
  Do
• 5:16
  It
• 5:17
  Best
• 5:17
  of
• 5:17
  now,
• 5:17
  our
• 5:18
  one
• 5:18
  organization.
• 5:19
  I
• 5:20
  thought
• 5:20
  that
• 5:22
  that
• 5:22
  was
• 5:22
  going
• 5:22
  to
• 5:23
  be
• 5:23
  a
• 5:23
  big
• 5:23
  challenge.
• 5:23
  I
• 5:24
  would
• 5:24
  think
• 5:24
  so.
• 5:24
  Because
• 5:25
  culture,
• 5:25
  when
• 5:25
  you
• 5:25
  especially
• 5:26
  bring
• 5:26
  on
• 5:27
  another
• 5:27
  company,
• 5:27
  it's
• 5:27
  like
• 5:28
  there
• 5:28
  is
• 5:29
  especially
• 5:29
  a
• 5:30
  competitor.
• 5:31
  The
• 5:31
  day
• 5:31
  before
• 5:32
  the
• 5:32
  closing,
• 5:32
  we
• 5:32
  were
• 5:32
  competitors.
• 5:33
  The
• 5:33
  day
• 5:33
  after,
• 5:33
  we're
• 5:34
  supposed
• 5:34
  to
• 5:34
  embrace
• 5:34
  and
• 5:34
  be
• 5:35
  part
• 5:35
  of
• 5:35
  one
• 5:35
  culture.
• 5:36
  That's
• 5:36
  not
• 5:37
  easily
• 5:37
  done.
• 5:37
  Probably
• 5:38
  down
• 5:38
  the
• 5:38
  street
• 5:39
  too,
• 5:39
  in
• 5:39
  some
• 5:39
  instances.
• 5:40
  Or
• 5:40
  am
• 5:40
  I
• 5:40
  wrong?
• 5:40
  No,
• 5:41
  you're
• 5:41
  right.
• 5:42
  Sometimes
• 5:42
  across
• 5:42
  the
• 5:42
  street.
• 5:44
  So
• 5:44
  there
• 5:45
  were
• 5:45
  a
• 5:45
  number
• 5:45
  of
• 5:45
  challenges
• 5:46
  like
• 5:46
  that
• 5:47
  you
• 5:47
  can
• 5:47
  anticipate.
• 5:47
  I
• 5:48
  approached
• 5:48
  that
• 5:48
  and
• 5:48
  went,
• 5:48
  ooh,
• 5:50
  one
• 5:50
  culture
• 5:50
  is
• 5:51
  going
• 5:51
  to
• 5:51
  be
• 5:51
  difficult.
• 5:52
  What
• 5:52
  I
• 5:52
  was
• 5:53
  surprised
• 5:53
  at
• 5:54
  was
• 5:55
  just
• 5:56
  the
• 5:56
  uniqueness
• 5:56
  of
• 5:56
  what
• 5:57
  we
• 5:57
  were
• 5:57
  going
• 5:57
  through.
• 5:58
  So
• 5:59
  TrueValue
• 6:00
  was
• 6:00
  acquired,
• 6:01
  70%
• 6:02
  of
• 6:02
  the
• 6:02
  company
• 6:03
  was
• 6:03
  acquired
• 6:04
  in
• 6:05
  around
• 6:05
  2017,
• 6:06
  2018,
• 6:07
  by
• 6:08
  private
• 6:08
  equity.
• 6:12
  Even
• 6:12
  you
• 6:12
  shaking
• 6:13
  your
• 6:13
  head,
• 6:13
  it
• 6:13
  seems
• 6:13
  like
• 6:13
  you
• 6:14
  know
• 6:14
  where
• 6:14
  this.
• 6:14
  I
• 6:14
  know
• 6:14
  where
• 6:14
  this
• 6:15
  is
• 6:15
  going.
• 6:15
  I've
• 6:15
  heard
• 6:15
  this
• 6:16
  story
• 6:16
  before.
• 6:16
  Not
• 6:17
  in
• 6:17
  this
• 6:17
  way,
• 6:17
  but
• 6:17
  I
• 6:17
  know
• 6:18
  what
• 6:18
  you're
• 6:18
  going
• 6:18
  to
• 6:18
  say.
• 6:19
  Well,
• 6:19
  Private
• 6:19
  equity
• 6:20
  did,
• 6:21
  frankly,
• 6:21
  just
• 6:21
  not
• 6:21
  a
• 6:22
  great
• 6:22
  job
• 6:23
  of
• 6:23
  managing
• 6:24
  the
• 6:24
  business
• 6:24
  and
• 6:24
  satisfying
• 6:25
  the
• 6:25
  stakeholders.
• 6:26
  They
• 6:26
  disappointed
• 6:27
  the
• 6:27
  stakeholders,
• 6:28
  and
• 6:28
  ultimately
• 6:29
  it
• 6:29
  ended
• 6:29
  up
• 6:29
  in
• 6:29
  bankruptcy.
• 6:30
  So
• 6:31
  the
• 6:31
  experience
• 6:31
  with
• 6:32
  Private
• 6:32
  equity
• 6:32
  was
• 6:32
  not
• 6:33
  a
• 6:33
  positive
• 6:33
  one.
• 6:34
  Well,
• 6:34
  in
• 6:34
  many
• 6:34
  ways,
• 6:35
  that
• 6:35
  kind
• 6:35
  of
• 6:35
  opened
• 6:35
  the
• 6:36
  door
• 6:36
  for
• 6:36
  me
• 6:37
  to
• 6:37
  walk
• 6:38
  in
• 6:38
  and
• 6:38
  say,
• 6:39
  the
• 6:39
  culture
• 6:39
  of
• 6:40
  True
• 6:40
  Value,
• 6:40
  of
• 6:40
  True
• 6:41
  Value,
• 6:41
  historic
• 6:41
  culture
• 6:42
  of
• 6:42
  True
• 6:42
  Value
• 6:43
  built
• 6:43
  by
• 6:43
  a
• 6:43
  man
• 6:43
  named
• 6:44
  John
• 6:44
  Connor
• 6:47
  is
• 6:47
  an
• 6:47
  important
• 6:47
  legacy.
• 6:48
  And
• 6:48
  it's
• 6:49
  one
• 6:49
  that
• 6:49
  is
• 6:49
  very
• 6:50
  similar
• 6:50
  to
• 6:50
  the
• 6:50
  culture
• 6:51
  of
• 6:51
  Do
• 6:51
  It
• 6:51
  Best.
• 6:52
  What
• 6:52
  I'm
• 6:52
  asking
• 6:53
  you
• 6:53
  to
• 6:53
  join
• 6:54
  is
• 6:54
  that
• 6:55
  culture.
• 6:56
  And
• 6:56
  I
• 6:56
  could
• 6:56
  relate
• 6:57
  it
• 6:57
  directly
• 6:58
  to
• 6:58
  their
• 6:58
  experience
• 6:59
  and
• 6:59
  their
• 6:59
  prior
• 7:00
  experience
• 7:01
  and
• 7:01
  say,
• 7:02
  that's
• 7:02
  where
• 7:02
  we
• 7:02
  are.
• 7:03
  That's
• 7:03
  who
• 7:03
  we
• 7:03
  are
• 7:05
  culturally,
• 7:05
  and
• 7:06
  that's
• 7:06
  what
• 7:06
  we're
• 7:06
  headed
• 7:06
  back
• 7:07
  to.
• 7:07
  And
• 7:07
  it's
• 7:08
  not
• 7:08
  going
• 7:08
  to
• 7:08
  be
• 7:08
  like
• 7:08
  it
• 7:08
  was
• 7:08
  with
• 7:09
  private
• 7:09
  equity.
• 7:09
  Got
• 7:10
  it.
• 7:10
  So
• 7:10
  it
• 7:10
  was
• 7:10
  simpler
• 7:10
  than
• 7:10
  you
• 7:11
  expected.
• 7:11
  Because
• 7:12
  in
• 7:12
  reality,
• 7:12
  you
• 7:12
  learn
• 7:13
  very
• 7:13
  quickly
• 7:13
  they
• 7:13
  were
• 7:13
  hungry
• 7:14
  for
• 7:14
  leadership
• 7:14
  and
• 7:14
  vision.
• 7:15
  Yes.
• 7:15
  That's
• 7:16
  basically
• 7:17
  the
• 7:17
  summary
• 7:17
  of
• 7:17
  what
• 7:17
  you.
• 7:17
  Just
• 7:18
  said,
• 7:18
  that's
• 7:18
  exactly
• 7:18
  right.
• 7:19
  And
• 7:19
  I
• 7:19
  think
• 7:19
  a
• 7:19
  lot
• 7:19
  of
• 7:19
  True
• 7:20
  Value
• 7:20
  retailers
• 7:20
  are
• 7:20
  also
• 7:21
  hungry
• 7:21
  to
• 7:21
  be
• 7:22
  part
• 7:22
  of
• 7:22
  a
• 7:22
  co
• 7:22
  op
• 7:23
  again,
• 7:23
  meaning
• 7:24
  I
• 7:24
  want
• 7:25
  to
• 7:25
  be
• 7:25
  an
• 7:25
  owner.
• 7:26
  So
• 7:26
  there
• 7:26
  was
• 7:26
  an
• 7:27
  appetite
• 7:27
  for
• 7:27
  that.
• 7:27
  They
• 7:27
  want
• 7:27
  to
• 7:27
  do
• 7:28
  well.
• 7:28
  They
• 7:28
  do.
• 7:28
  They
• 7:29
  want
• 7:29
  to
• 7:29
  succeed.
• 7:29
  They
• 7:30
  do.
• 7:30
  So
• 7:31
  it
• 7:31
  turns
• 7:31
  out
• 7:31
  that
• 7:31
  they
• 7:32
  want.
• 7:32
  Goals
• 7:32
  they
• 7:32
  can
• 7:32
  hit.
• 7:32
  Right?
• 7:33
  Yeah.
• 7:33
  Right.
• 7:33
  I
• 7:33
  mean,
• 7:34
  imagine
• 7:34
  that.
• 7:34
  Yeah.
• 7:35
  No,
• 7:35
  that's
• 7:35
  great.
• 7:35
  All
• 7:36
  right,
• 7:36
  so
• 7:36
  you
• 7:36
  just.
• 7:36
  I
• 7:37
  teased
• 7:37
  it
• 7:37
  before,
• 7:37
  but
• 7:38
  you
• 7:38
  just
• 7:38
  delivered
• 7:38
  your
• 7:39
  keynote.
• 7:39
  It
• 7:39
  was
• 7:39
  titled
• 7:39
  Reinventing
• 7:40
  a
• 7:40
  Legacy
• 7:41
  Brand
• 7:42
  for
• 7:42
  the
• 7:42
  Next
• 7:42
  Generation.
• 7:43
  And
• 7:43
  so
• 7:43
  home
• 7:43
  improvement
• 7:44
  is
• 7:44
  always
• 7:44
  kind
• 7:44
  of
• 7:44
  this
• 7:45
  dicey
• 7:46
  dichotomy
• 7:46
  when
• 7:46
  you
• 7:46
  start
• 7:47
  talking
• 7:47
  about
• 7:47
  topics
• 7:48
  like
• 7:48
  that,
• 7:48
  because
• 7:48
  you're
• 7:48
  reinventing
• 7:49
  for
• 7:49
  the
• 7:49
  new
• 7:50
  generation.
• 7:50
  But
• 7:50
  yet
• 7:51
  there's
• 7:51
  a
• 7:51
  lot
• 7:51
  of,
• 7:52
  you
• 7:52
  know,
• 7:53
  things
• 7:54
  that
• 7:54
  people
• 7:54
  assign
• 7:55
  mentally
• 7:55
  to
• 7:56
  the
• 7:56
  DIY
• 7:56
  business
• 7:57
  themselves,
• 7:57
  the
• 7:57
  DIY
• 7:58
  retailers
• 7:58
  themselves.
• 7:59
  How
• 7:59
  do
• 7:59
  you
• 7:59
  kind
• 8:00
  of
• 8:00
  skirt
• 8:01
  those
• 8:01
  issues
• 8:01
  together?
• 8:01
  What
• 8:02
  have
• 8:02
  you
• 8:02
  found
• 8:02
  that
• 8:02
  works
• 8:03
  so
• 8:04
  far?
• 8:05
  What
• 8:06
  have
• 8:06
  I
• 8:06
  found
• 8:06
  that.
• 8:06
  Right,
• 8:07
  Right.
• 8:07
  I'll
• 8:07
  tell
• 8:07
  you
• 8:07
  what
• 8:08
  I
• 8:08
  was
• 8:08
  concerned
• 8:08
  about.
• 8:08
  One
• 8:08
  of
• 8:08
  the
• 8:09
  issues
• 8:09
  that
• 8:09
  I
• 8:09
  tried
• 8:09
  to
• 8:09
  hit
• 8:09
  on
• 8:10
  stage
• 8:10
  was
• 8:10
  the
• 8:10
  idea
• 8:11
  that
• 8:13
  while
• 8:13
  we're
• 8:13
  trying
• 8:14
  to
• 8:14
  reinvent
• 8:15
  a
• 8:16
  brand,
• 8:16
  what
• 8:16
  we're
• 8:16
  really
• 8:16
  trying
• 8:17
  to
• 8:17
  do,
• 8:17
  I
• 8:17
  would
• 8:17
  say,
• 8:17
  maybe
• 8:18
  more
• 8:18
  accurately,
• 8:18
  is
• 8:19
  reintroduce
• 8:20
  a
• 8:21
  brand
• 8:21
  to
• 8:21
  the
• 8:21
  next
• 8:22
  generation.
• 8:22
  The
• 8:23
  next
• 8:23
  generation.
• 8:23
  Millennials
• 8:24
  and
• 8:25
  Gen
• 8:25
  Z,
• 8:25
  they're
• 8:26
  not
• 8:26
  familiar
• 8:27
  with
• 8:28
  the
• 8:28
  True
• 8:28
  Value
• 8:28
  brand.
• 8:29
  When
• 8:29
  we
• 8:29
  acquired
• 8:30
  it,
• 8:30
  we
• 8:30
  were
• 8:30
  very
• 8:31
  pleased
• 8:32
  to
• 8:32
  discover
• 8:33
  that
• 8:33
  the
• 8:33
  unaided
• 8:34
  brand
• 8:34
  awareness
• 8:35
  for
• 8:35
  True
• 8:35
  value
• 8:35
  was
• 8:36
  about
• 8:36
  74%.
• 8:37
  Okay,
• 8:37
  that's
• 8:38
  pretty
• 8:38
  powerful.
• 8:38
  That's
• 8:38
  pretty
• 8:39
  good.
• 8:39
  But
• 8:40
  True
• 8:41
  Value
• 8:41
  as
• 8:41
  an
• 8:41
  organization
• 8:42
  hadn't
• 8:42
  invested
• 8:43
  in
• 8:44
  that
• 8:44
  brand,
• 8:45
  meaning
• 8:46
  deployed
• 8:46
  it
• 8:46
  in
• 8:47
  advertising,
• 8:48
  targeting
• 8:48
  different
• 8:49
  groups
• 8:50
  with
• 8:50
  different
• 8:50
  messages
• 8:51
  that
• 8:52
  reflect
• 8:53
  buying
• 8:53
  behaviors
• 8:54
  and
• 8:54
  how
• 8:54
  they
• 8:54
  want
• 8:54
  to
• 8:54
  reach
• 8:54
  people.
• 8:55
  They
• 8:55
  hadn't
• 8:55
  invested
• 8:56
  in
• 8:56
  it.
• 8:56
  They
• 8:56
  hadn't
• 8:56
  bought
• 8:56
  anything.
• 8:57
  They
• 8:57
  hadn't
• 8:57
  advertised
• 8:58
  in
• 8:58
  more
• 8:58
  than
• 8:58
  10
• 8:59
  years.
• 9:00
  So
• 9:00
  as
• 9:00
  you
• 9:00
  might
• 9:01
  imagine,
• 9:01
  in
• 9:01
  that
• 9:01
  10
• 9:02
  years,
• 9:02
  a
• 9:02
  lot
• 9:02
  can
• 9:02
  change.
• 9:03
  If
• 9:04
  you
• 9:04
  go
• 9:04
  back,
• 9:04
  my
• 9:05
  favorite
• 9:05
  thing
• 9:05
  is
• 9:05
  to
• 9:05
  reference
• 9:06
  30
• 9:06
  years
• 9:07
  or
• 9:07
  so,
• 9:07
  because
• 9:07
  it
• 9:08
  was
• 9:08
  Pat
• 9:08
  Summerall.
• 9:09
  If
• 9:09
  you
• 9:10
  say
• 9:10
  Pat
• 9:11
  Summerall
• 9:11
  and
• 9:11
  Paul
• 9:12
  Harvey.
• 9:12
  Pat
• 9:12
  Summerall
• 9:13
  on
• 9:13
  TV
• 9:13
  with
• 9:14
  sport,
• 9:14
  with
• 9:15
  football
• 9:15
  and
• 9:16
  Paul
• 9:16
  Harvey
• 9:16
  on
• 9:16
  radio.
• 9:17
  If
• 9:17
  you
• 9:18
  try
• 9:18
  to
• 9:18
  mention
• 9:19
  those
• 9:19
  two
• 9:19
  names
• 9:20
  to
• 9:20
  anyone,
• 9:21
  I'm
• 9:21
  going
• 9:21
  to
• 9:21
  say
• 9:21
  under
• 9:22
  40.
• 9:22
  Oh,
• 9:23
  yeah.
• 9:23
  Especially
• 9:23
  Paul
• 9:24
  Harvey.
• 9:24
  Right?
• 9:25
  Yeah.
• 9:25
  They
• 9:26
  have
• 9:26
  no
• 9:26
  idea
• 9:27
  who
• 9:27
  you're
• 9:27
  talking
• 9:27
  about,
• 9:28
  and
• 9:28
  they
• 9:28
  think
• 9:28
  you're,
• 9:29
  like,
• 9:29
  crazy
• 9:29
  old
• 9:30
  at
• 9:30
  the
• 9:30
  same
• 9:30
  time.
• 9:31
  So
• 9:32
  that
• 9:33
  is
• 9:33
  a
• 9:33
  helpful.
• 9:33
  Yeah,
• 9:34
  that
• 9:34
  is
• 9:34
  a
• 9:34
  helpful
• 9:34
  way
• 9:35
  to
• 9:35
  divide
• 9:35
  the
• 9:35
  world
• 9:36
  for
• 9:36
  us.
• 9:37
  If
• 9:37
  you
• 9:37
  know
• 9:38
  who
• 9:38
  those
• 9:38
  people
• 9:38
  are,
• 9:38
  you
• 9:39
  know
• 9:39
  our
• 9:39
  brand.
• 9:40
  If
• 9:41
  you
• 9:41
  know
• 9:41
  our
• 9:41
  brand,
• 9:42
  we
• 9:42
  don't
• 9:42
  want
• 9:42
  to
• 9:42
  alienate
• 9:43
  you.
• 9:43
  We
• 9:43
  want
• 9:43
  to
• 9:43
  bring
• 9:43
  you
• 9:43
  Along.
• 9:44
  We're
• 9:45
  also
• 9:45
  not
• 9:45
  going
• 9:45
  to
• 9:45
  spend
• 9:45
  a
• 9:46
  whole
• 9:46
  lot
• 9:46
  of
• 9:46
  money
• 9:46
  trying
• 9:46
  to
• 9:46
  introduce
• 9:47
  our
• 9:47
  brand
• 9:47
  to
• 9:47
  you.
• 9:47
  You
• 9:47
  already
• 9:48
  know
• 9:48
  it.
• 9:49
  However,
• 9:49
  if
• 9:50
  you're
• 9:50
  in
• 9:50
  that
• 9:50
  younger
• 9:51
  cohort,
• 9:51
  if
• 9:51
  you're
• 9:52
  among
• 9:52
  that
• 9:52
  group
• 9:52
  that's
• 9:53
  coming
• 9:53
  into
• 9:53
  home
• 9:53
  ownership
• 9:54
  for
• 9:54
  the
• 9:54
  first
• 9:54
  time,
• 9:54
  we
• 9:55
  are
• 9:55
  targeting
• 9:56
  that
• 9:56
  group.
• 9:56
  We
• 9:57
  want
• 9:57
  them
• 9:57
  to
• 9:57
  know
• 9:57
  who
• 9:57
  we
• 9:57
  are,
• 9:58
  and
• 9:58
  we
• 9:58
  want
• 9:58
  them
• 9:58
  to
• 9:59
  know,
• 9:59
  here's
• 9:59
  how
• 10:00
  we
• 10:00
  can
• 10:00
  help
• 10:00
  you.
• 10:00
  We're
• 10:01
  going
• 10:01
  to
• 10:01
  bring
• 10:01
  you
• 10:01
  along
• 10:01
  in
• 10:02
  your
• 10:02
  project
• 10:03
  and
• 10:03
  give
• 10:03
  you
• 10:03
  a
• 10:04
  sense
• 10:04
  of
• 10:04
  confidence,
• 10:05
  but
• 10:06
  allow
• 10:06
  you
• 10:06
  to
• 10:06
  be
• 10:06
  the
• 10:07
  architect
• 10:07
  of
• 10:07
  your
• 10:08
  own
• 10:08
  plan.
• 10:08
  So
• 10:08
  that's
• 10:09
  kind
• 10:09
  of
• 10:09
  the
• 10:09
  messaging
• 10:10
  that
• 10:10
  we
• 10:10
  are
• 10:10
  using
• 10:11
  to
• 10:11
  establish
• 10:12
  the
• 10:12
  brand
• 10:12
  to
• 10:12
  a
• 10:13
  new
• 10:13
  generation.
• 10:13
  Got
• 10:13
  it.
• 10:14
  Wow.
• 10:14
  Sounds
• 10:15
  like
• 10:15
  you
• 10:15
  found
• 10:15
  a
• 10:15
  diamond
• 10:16
  in
• 10:16
  the
• 10:16
  rough
• 10:16
  here
• 10:16
  as
• 10:17
  I'm
• 10:17
  doing
• 10:17
  this
• 10:17
  conversation.
• 10:19
  Yeah,
• 10:19
  I
• 10:19
  would
• 10:20
  say
• 10:20
  so.
• 10:20
  Yeah,
• 10:20
  I
• 10:20
  would
• 10:21
  say
• 10:21
  so.
• 10:21
  Sure
• 10:21
  seems
• 10:21
  like
• 10:22
  it.
• 10:22
  Well,
• 10:23
  some
• 10:23
  people
• 10:24
  worried
• 10:24
  that
• 10:24
  going
• 10:24
  into
• 10:25
  bankruptcy
• 10:25
  was
• 10:25
  going
• 10:25
  to
• 10:26
  hurt
• 10:26
  the
• 10:26
  brand,
• 10:27
  and
• 10:28
  I
• 10:28
  think
• 10:29
  that's
• 10:29
  probably
• 10:30
  true
• 10:31
  for
• 10:31
  this
• 10:32
  kind
• 10:32
  of
• 10:32
  audience.
• 10:32
  You've
• 10:33
  got
• 10:33
  folks
• 10:33
  who
• 10:33
  are
• 10:34
  in
• 10:34
  the
• 10:34
  industry
• 10:34
  who
• 10:35
  know
• 10:35
  all
• 10:35
  that
• 10:35
  history
• 10:36
  for
• 10:36
  this
• 10:37
  group
• 10:37
  is
• 10:38
  like,
• 10:38
  oh,
• 10:38
  you
• 10:39
  know,
• 10:39
  for
• 10:39
  manufacturers,
• 10:40
  they
• 10:40
  were
• 10:41
  concerned
• 10:41
  about
• 10:41
  true
• 10:42
  value.
• 10:42
  They're
• 10:42
  in
• 10:42
  bankruptcy.
• 10:43
  Right.
• 10:44
  The
• 10:44
  vast
• 10:44
  majority
• 10:45
  of
• 10:45
  the
• 10:45
  consuming
• 10:45
  public
• 10:46
  really
• 10:47
  had
• 10:47
  no
• 10:47
  idea.
• 10:48
  And
• 10:48
  it
• 10:48
  didn't.
• 10:49
  It
• 10:50
  didn't
• 10:50
  jump
• 10:50
  that
• 10:51
  divide
• 10:51
  and
• 10:51
  start
• 10:52
  to
• 10:52
  diminish
• 10:53
  retail
• 10:53
  awareness
• 10:54
  or
• 10:54
  retail
• 10:54
  perceptions.
• 10:55
  It
• 10:55
  didn't
• 10:55
  change
• 10:56
  that.
• 10:56
  So
• 10:56
  we
• 10:57
  did
• 10:58
  acquire
• 10:58
  a
• 10:58
  strong
• 10:59
  retail
• 10:59
  brand.
• 11:00
  Right.
• 11:00
  There's
• 11:00
  a
• 11:00
  lot
• 11:00
  of
• 11:00
  dry
• 11:00
  powder
• 11:01
  in
• 11:01
  that
• 11:01
  keg.
• 11:01
  Yes.
• 11:02
  All
• 11:02
  right,
• 11:02
  so,
• 11:02
  you
• 11:03
  know,
• 11:03
  we
• 11:03
  are
• 11:03
  omni
• 11:03
  talk.
• 11:04
  Omnichannel
• 11:05
  is
• 11:05
  a
• 11:05
  word
• 11:06
  we
• 11:06
  talk
• 11:06
  about
• 11:06
  a
• 11:06
  lot.
• 11:08
  How
• 11:08
  do
• 11:08
  you
• 11:08
  think
• 11:08
  about
• 11:09
  that
• 11:09
  term
• 11:09
  again
• 11:10
  across
• 11:10
  your
• 11:10
  independent
• 11:11
  network?
• 11:11
  What
• 11:12
  do
• 11:12
  you.
• 11:12
  What
• 11:13
  are
• 11:13
  you
• 11:13
  working
• 11:13
  on?
• 11:13
  What
• 11:13
  do
• 11:14
  you
• 11:14
  find
• 11:14
  that
• 11:14
  works
• 11:14
  well?
• 11:15
  What
• 11:15
  do
• 11:15
  you
• 11:15
  find
• 11:15
  that's
• 11:15
  a
• 11:16
  unique
• 11:16
  challenge.
• 11:16
  Yeah.
• 11:17
  Well,
• 11:18
  help
• 11:18
  me
• 11:19
  first.
• 11:19
  Okay.
• 11:19
  People
• 11:20
  say
• 11:20
  that
• 11:20
  word
• 11:20
  and
• 11:20
  it
• 11:21
  means
• 11:21
  a
• 11:21
  lot
• 11:21
  of
• 11:21
  different
• 11:21
  things
• 11:21
  to
• 11:21
  a
• 11:22
  lot
• 11:22
  of
• 11:22
  different
• 11:22
  people.
• 11:23
  What
• 11:23
  does
• 11:23
  that
• 11:23
  mean
• 11:23
  to
• 11:23
  you
• 11:24
  or
• 11:24
  what
• 11:24
  should
• 11:24
  that
• 11:24
  mean
• 11:24
  to
• 11:24
  me?
• 11:25
  Well,
• 11:25
  to
• 11:25
  me,
• 11:25
  it
• 11:26
  means
• 11:26
  you're
• 11:27
  always
• 11:27
  available
• 11:27
  to
• 11:28
  the
• 11:28
  customer
• 11:28
  whenever
• 11:29
  he
• 11:29
  or
• 11:29
  she
• 11:29
  wants
• 11:30
  something
• 11:30
  from
• 11:30
  you.
• 11:32
  So
• 11:32
  what
• 11:33
  does
• 11:33
  that
• 11:33
  mean
• 11:33
  in
• 11:34
  terms
• 11:34
  of,
• 11:34
  like,
• 11:35
  how
• 11:35
  do
• 11:35
  we
• 11:35
  support.
• 11:36
  For
• 11:37
  me,
• 11:37
  what
• 11:37
  that
• 11:37
  means
• 11:37
  is
• 11:38
  we
• 11:38
  have
• 11:38
  to
• 11:39
  prepare
• 11:39
  our
• 11:39
  members
• 11:41
  to
• 11:41
  satisfy
• 11:42
  the
• 11:42
  needs
• 11:42
  and
• 11:42
  demands
• 11:43
  of
• 11:43
  a
• 11:43
  new
• 11:43
  generation.
• 11:44
  So
• 11:44
  here
• 11:44
  I
• 11:44
  was
• 11:45
  just
• 11:45
  talking
• 11:45
  about
• 11:46
  that.
• 11:47
  We're
• 11:47
  aiming
• 11:48
  at
• 11:48
  a
• 11:49
  different
• 11:49
  demographic.
• 11:51
  My
• 11:51
  mom
• 11:51
  knows
• 11:52
  how
• 11:52
  to
• 11:52
  work
• 11:52
  her
• 11:53
  smartphone,
• 11:53
  but
• 11:54
  she's
• 11:54
  not
• 11:54
  a
• 11:54
  digital
• 11:55
  native.
• 11:56
  That
• 11:56
  next
• 11:56
  generation,
• 11:58
  they
• 11:58
  have
• 11:59
  expectations
• 11:59
  that
• 12:00
  are
• 12:00
  very
• 12:00
  different
• 12:01
  from
• 12:01
  my
• 12:02
  mother's
• 12:02
  generation
• 12:02
  or
• 12:03
  from
• 12:03
  my
• 12:03
  generation.
• 12:04
  They
• 12:04
  expect
• 12:05
  to
• 12:05
  be
• 12:05
  hit
• 12:05
  in
• 12:06
  lots
• 12:06
  of
• 12:06
  different
• 12:06
  ways.
• 12:06
  Where
• 12:07
  they
• 12:07
  live,
• 12:07
  where
• 12:07
  they
• 12:08
  consume.
• 12:08
  Right.
• 12:09
  And
• 12:09
  you.
• 12:10
  And
• 12:10
  as
• 12:10
  you
• 12:10
  said
• 12:11
  always
• 12:11
  it
• 12:11
  works
• 12:12
  the
• 12:12
  other
• 12:12
  way
• 12:12
  too.
• 12:12
  Yep.
• 12:13
  That
• 12:13
  the
• 12:13
  retailer
• 12:14
  is
• 12:14
  accessible
• 12:14
  in
• 12:14
  some
• 12:15
  form
• 12:15
  or
• 12:15
  fashion.
• 12:15
  Whether
• 12:16
  that's
• 12:16
  through
• 12:16
  some
• 12:17
  kind
• 12:17
  of.
• 12:18
  Whether
• 12:18
  it's
• 12:18
  a
• 12:18
  social
• 12:18
  media
• 12:19
  platform
• 12:19
  or
• 12:19
  otherwise.
• 12:20
  Right.
• 12:20
  Yep.
• 12:20
  Okay.
• 12:21
  So
• 12:22
  it's
• 12:22
  up
• 12:22
  to
• 12:22
  us
• 12:22
  to
• 12:23
  provide
• 12:23
  the
• 12:23
  tools
• 12:24
  for
• 12:25
  our
• 12:25
  members
• 12:25
  to
• 12:25
  be
• 12:25
  able
• 12:26
  to
• 12:26
  meet
• 12:26
  that.
• 12:26
  Let
• 12:26
  me
• 12:26
  take.
• 12:26
  Got
• 12:27
  it.
• 12:27
  You
• 12:27
  want
• 12:27
  to
• 12:27
  take
• 12:27
  it
• 12:27
  a
• 12:27
  member
• 12:28
  first
• 12:28
  approach.
• 12:28
  That's
• 12:29
  kind
• 12:29
  of
• 12:29
  how
• 12:29
  you
• 12:29
  think
• 12:29
  about
• 12:29
  it.
• 12:30
  Yes,
• 12:30
  sir.
• 12:30
  That's
• 12:30
  awesome.
• 12:31
  Every
• 12:31
  time
• 12:31
  it's
• 12:31
  a
• 12:32
  member
• 12:32
  first
• 12:32
  approach,
• 12:33
  if
• 12:33
  it
• 12:33
  doesn't
• 12:34
  work
• 12:34
  for
• 12:34
  them,
• 12:34
  why
• 12:34
  are
• 12:35
  we
• 12:35
  doing
• 12:35
  it?
• 12:35
  Okay,
• 12:35
  so
• 12:36
  I
• 12:36
  stopped
• 12:36
  you
• 12:36
  but
• 12:36
  keep
• 12:36
  going.
• 12:37
  No,
• 12:37
  that's
• 12:37
  fine.
• 12:37
  That's
• 12:37
  fine.
• 12:39
  So
• 12:40
  an
• 12:40
  easy
• 12:41
  example,
• 12:41
  one
• 12:41
  that
• 12:41
  I
• 12:42
  don't
• 12:42
  think
• 12:42
  anyone
• 12:42
  would
• 12:42
  look
• 12:42
  at
• 12:43
  and
• 12:43
  say,
• 12:43
  wow,
• 12:43
  that's
• 12:44
  revolutionary.
• 12:46
  It's
• 12:47
  an
• 12:47
  E
• 12:47
  commerce
• 12:48
  platform.
• 12:49
  You've
• 12:49
  got
• 12:50
  9,000
• 12:51
  locations
• 12:52
  running
• 12:52
  businesses
• 12:53
  that
• 12:53
  vary
• 12:54
  all
• 12:54
  over
• 12:54
  the
• 12:54
  place.
• 12:54
  Do
• 12:55
  they
• 12:55
  have
• 12:55
  the
• 12:55
  time
• 12:56
  to
• 12:56
  create
• 12:57
  and
• 12:57
  host
• 12:59
  a
• 12:59
  URL
• 13:01
  that's
• 13:01
  function?
• 13:01
  No.
• 13:02
  On
• 13:02
  their
• 13:02
  own?
• 13:02
  No,
• 13:02
  no,
• 13:03
  definitely
• 13:03
  not.
• 13:03
  So
• 13:04
  you
• 13:04
  want
• 13:04
  to
• 13:04
  provide
• 13:04
  a
• 13:04
  best
• 13:05
  in
• 13:05
  class,
• 13:05
  best
• 13:05
  in
• 13:06
  suite
• 13:06
  platform
• 13:06
  for
• 13:07
  them
• 13:07
  that's
• 13:07
  accessible.
• 13:09
  We'll
• 13:09
  provide
• 13:09
  a
• 13:10
  take
• 13:10
  rate
• 13:10
  for
• 13:11
  products
• 13:11
  that
• 13:11
  sold
• 13:12
  through
• 13:12
  there.
• 13:12
  But
• 13:13
  if
• 13:13
  we
• 13:14
  brand
• 13:15
  to
• 13:16
  their
• 13:16
  unique
• 13:17
  brand
• 13:17
  and
• 13:18
  frame
• 13:20
  and
• 13:21
  customer
• 13:21
  goes
• 13:21
  and
• 13:21
  buys
• 13:22
  from
• 13:22
  them
• 13:22
  and
• 13:23
  it's
• 13:23
  shipped
• 13:23
  to
• 13:23
  home,
• 13:24
  they
• 13:24
  think
• 13:24
  that
• 13:24
  they
• 13:24
  just
• 13:25
  bought
• 13:25
  from
• 13:25
  that
• 13:25
  retailer.
• 13:26
  They
• 13:26
  didn't.
• 13:26
  Right,
• 13:27
  right.
• 13:27
  And
• 13:28
  is
• 13:28
  that
• 13:28
  something
• 13:28
  you
• 13:28
  had
• 13:28
  to
• 13:29
  put
• 13:29
  in
• 13:29
  place
• 13:29
  or
• 13:30
  just.
• 13:30
  Yeah,
• 13:31
  okay.
• 13:31
  No,
• 13:31
  we
• 13:32
  rolled
• 13:32
  that
• 13:32
  out.
• 13:34
  The
• 13:35
  new
• 13:35
  platform,
• 13:35
  we
• 13:36
  rolled
• 13:36
  that
• 13:36
  out
• 13:36
  for
• 13:37
  true
• 13:37
  value
• 13:37
  dealers.
• 13:38
  February
• 13:39
  of
• 13:39
  this
• 13:39
  year.
• 13:39
  February.
• 13:40
  Okay.
• 13:40
  Yeah,
• 13:41
  no,
• 13:41
  we
• 13:41
  had
• 13:41
  that
• 13:42
  and
• 13:42
  it
• 13:42
  was
• 13:42
  within
• 13:43
  a
• 13:43
  year
• 13:43
  of
• 13:44
  us
• 13:44
  rolling
• 13:44
  it
• 13:44
  out
• 13:44
  to
• 13:44
  do
• 13:45
  it
• 13:45
  best
• 13:46
  retailer.
• 13:47
  So
• 13:47
  we
• 13:47
  already
• 13:47
  had
• 13:47
  an
• 13:47
  E
• 13:47
  Commerce
• 13:48
  but
• 13:48
  we
• 13:48
  really
• 13:48
  needed
• 13:49
  to
• 13:49
  replace
• 13:49
  it.
• 13:50
  We
• 13:50
  didn't
• 13:50
  want
• 13:50
  to
• 13:50
  have
• 13:51
  a
• 13:51
  bunch
• 13:51
  of
• 13:51
  micro
• 13:51
  sites
• 13:52
  everywhere.
• 13:53
  If
• 13:53
  you're
• 13:53
  going
• 13:53
  to
• 13:53
  be
• 13:54
  playing
• 13:54
  in
• 13:54
  E
• 13:54
  commerce,
• 13:55
  you're
• 13:56
  not
• 13:56
  going
• 13:56
  to
• 13:56
  be
• 13:56
  strong
• 13:56
  in
• 13:56
  that
• 13:57
  unless
• 13:57
  you
• 13:57
  are
• 13:57
  owning
• 13:58
  it
• 13:58
  end
• 13:58
  to
• 13:58
  end
• 13:59
  and
• 13:59
  then
• 14:00
  allowing
• 14:00
  the
• 14:00
  retailer
• 14:01
  to
• 14:01
  have
• 14:01
  their
• 14:02
  brand
• 14:02
  associated
• 14:02
  with
• 14:03
  it.
• 14:03
  But
• 14:03
  you
• 14:03
  can't
• 14:04
  have,
• 14:04
  you
• 14:04
  can't
• 14:04
  do
• 14:04
  it
• 14:05
  well.
• 14:05
  You
• 14:05
  can't
• 14:05
  do
• 14:05
  it
• 14:05
  well.
• 14:06
  Where
• 14:06
  you're
• 14:06
  meeting
• 14:06
  the
• 14:07
  expectations,
• 14:07
  stand
• 14:07
  in
• 14:07
  doubt.
• 14:08
  Which
• 14:08
  goes
• 14:08
  back
• 14:08
  to
• 14:08
  what
• 14:08
  we
• 14:09
  said
• 14:09
  at
• 14:09
  the
• 14:09
  outset.
• 14:09
  Right.
• 14:10
  And
• 14:10
  then
• 14:10
  we'll
• 14:10
  take
• 14:10
  over
• 14:10
  the
• 14:11
  customer
• 14:11
  service.
• 14:12
  They
• 14:12
  can
• 14:12
  contact
• 14:13
  us
• 14:13
  anytime.
• 14:13
  The
• 14:14
  customer
• 14:14
  can
• 14:14
  contact
• 14:14
  us
• 14:14
  anytime.
• 14:15
  So
• 14:16
  we're
• 14:16
  enabling
• 14:17
  sales,
• 14:18
  giving
• 14:19
  value
• 14:19
  of
• 14:19
  that
• 14:19
  back
• 14:19
  to
• 14:20
  the
• 14:20
  retailer,
• 14:20
  but
• 14:21
  we're
• 14:21
  taking
• 14:21
  that
• 14:21
  off
• 14:22
  their
• 14:22
  plate
• 14:23
  to
• 14:23
  maintain
• 14:23
  it.
• 14:24
  Yeah,
• 14:24
  it
• 14:24
  all
• 14:24
  comes
• 14:24
  back
• 14:24
  to
• 14:25
  using
• 14:25
  scale
• 14:25
  where
• 14:25
  you
• 14:25
  can
• 14:26
  for
• 14:26
  efficiency
• 14:27
  and
• 14:27
  then
• 14:27
  also
• 14:28
  giving
• 14:28
  the
• 14:28
  incentives
• 14:28
  to
• 14:29
  the
• 14:29
  organization
• 14:30
  by
• 14:30
  having
• 14:30
  a
• 14:31
  member
• 14:31
  focused
• 14:31
  approach
• 14:32
  as
• 14:32
  well.
• 14:32
  Right,
• 14:33
  Right.
• 14:34
  Well,
• 14:34
  Dan,
• 14:34
  thank
• 14:35
  you
• 14:35
  so
• 14:35
  much.
• 14:35
  This
• 14:35
  was
• 14:35
  great,
• 14:36
  man.
• 14:36
  I
• 14:36
  could
• 14:36
  talk.
• 14:36
  I
• 14:37
  could
• 14:37
  talk
• 14:37
  to
• 14:37
  you
• 14:37
  for
• 14:38
  a
• 14:38
  long,
• 14:38
  long
• 14:39
  time.
• 14:39
  In
• 14:40
  fact,
• 14:40
  I
• 14:40
  had
• 14:40
  more
• 14:40
  questions.
• 14:40
  I
• 14:41
  think
• 14:41
  I'm
• 14:41
  just
• 14:41
  gonna
• 14:41
  let
• 14:41
  them
• 14:41
  go
• 14:41
  because
• 14:42
  I
• 14:42
  want
• 14:42
  to
• 14:42
  be
• 14:42
  cognizant
• 14:42
  of
• 14:43
  your
• 14:43
  time.
• 14:43
  But
• 14:43
  maybe
• 14:43
  we'll
• 14:44
  do
• 14:44
  this
• 14:44
  again
• 14:44
  sometime,
• 14:44
  because
• 14:44
  it's
• 14:45
  been
• 14:45
  a
• 14:45
  blast.
• 14:46
  All
• 14:46
  right,
• 14:46
  thank
• 14:46
  you,
• 14:47
  everyone,
• 14:47
  for
• 14:47
  tuning
• 14:48
  in.
• 14:48
  Thanks
• 14:48
  to
• 14:48
  Vuzion
• 14:49
  and
• 14:49
  the
• 14:49
  DIY
• 14:50
  Summit
• 14:50
  for
• 14:50
  making
• 14:51
  our
• 14:51
  coverage
• 14:51
  today
• 14:52
  possible,
• 14:52
  and
• 14:52
  as
• 14:52
  always,
• 14:53
  to
• 14:53
  everyone
• 14:53
  listening
• 14:54
  and
• 14:54
  watching
• 14:54
  at
• 14:54
  home.
• 14:55
  Be
• 14:55
  careful
• 14:55
  out
• 14:56
  there.