On September 25, the Chamber held its Professional Women’s Leadership Luncheon at the Holiday Inn Virginia Beach Norfolk Hotel & Conference Center. More than 300 were in attendance to hear Macon Brock, chairman of the board of Dollar Tree, Inc. speak about the history and successes of Dollar Tree and what it takes to succeed in today’s business world.
Dollar Tree, Inc. an American chain of discount variety stores first opened in 1953 under the name Ben Franklin in Norfolk, VA. More than 50 years and 4,763 stores later, the Fortune 500 company will close 2013 with eight billion in sales.
Brock shared some of Dollar Tree’s strategies for success. “Diversification is important. You need to constantly adapt and expand into new markets for success.” Brock explained, “Being convenient was another key part of our strategy. We wanted to make it easy for customers. We put stores in a variety of locations.” He explained that easy access was key.
He also gave advice on marketing, saying.“Often the best advertising is word of mouth. Let the products speak for themselves.” Word of mouth is a very powerful form of advertising. Regarding company culture, Brock said when employees feel valued they work harder, longer, and are more productive. Everyone benefits.
Brock gave advice for having a successful business. “Good judgment, attitude, respect, and honesty, are all important. This is how successful a company runs. It is also important to focus on people. We built our culture around this.” Brock believes integrity is at the core of all values.
Regarding technology, Brock left attendees with a final piece of advice. “Don’t forget in business people still need to see people. Technology is great, but don’t hide behind computers. Embrace the culture and be guided by it, don’t take yourself too seriously.”
Thank you to sponsors: Hampton Roads Magazine (Series Media Sponsor); Sentara (Gold); Hampton University Proton Therapy Institute, MANCON, StellarOne Bank, Southwest Airlines and WTKR NewsChannel 3 (Luncheon Sponsors).