Page 199 - The Way to the Top
P. 199
Thomas G. STEMBERG
Chairman of Staples, Inc.
In 1985, when I was debating whether to start an office superstore chain or
buy a grocery chain with Leo Kahn, I had an update meeting with Walt
Salmon, my mentor and a marketing guru at Harvard Business School.
He asked whether I thought I could execute groceries better than
Northeast industry leaders Shaws or Stop & Shop. I danced around the
answer.
He stopped me and said something profound: “Tom, why don’t you find
a category that is underserved by modern distribution channels? Ideally
one that is big and growing and one you could apply your distribution
expertise to? Much like Home Depot and Toys “R” Us have done.”
I responded, “Well, Walter, as luck would have it, I have been working
on an idea. . . .”
My idea was Staples, and the office-supply superstore was born.
Tap underserved, unexplored markets
