In a way, it began with a bet. Or a dare. Certainly it was a
promise. Whatever you call it, it happened at the annual meeting in
1994, a half-social, half-serious function celebrating the past
year. Larry Gaynor, founder, president and CEO of The Nailco Group,
was proud of his beauty salon product distribution company. And why
not? He had a strong company, largely constructed by a formidable
sales team.
Today, it is a selling tsunami.
Back then, it had made $18 million for the year, and The Nailco
Group--TNG for short--was moving into a 100,000-square-foot,
state-of-the-art complex. But Gaynor was bracing for a possible
quitting epidemic--the new office in Farmington Hills, Michigan,
was 20 minutes further from most employees' homes. And so
Gaynor, who is something of a showman, boldly announced to his 65
employees: "When we reach $50 million, I'm going to buy
each of you a car."
Content Continues Below
He enjoyed the looks he got from his slack-jawed employees. Then
he promptly forgot his pledge.
Until 1999, when 24 employees reminded him.
As the only ones left of the 1994 crew--and knowing sales would
hit $50 million within a year--they expected their cars. "I
was in shock," says Gaynor, now 45. "I remembered saying
it, but then I didn't remember saying it."
At TNG's annual meeting, held in the waning days of 2000,
those 24 employees were rewarded with a choice: $25,000 in cold,
hard cash or a free car worth 70 percent of their salary.
| Get the tips that'll boost your
sales figures in our Sales
section. |
|
Employees wept. They shouted for joy--especially when Gaynor
promised similar incentives for reaching $100 million. They
promised Gaynor they'd reach that new goal within a year or
two.
It could happen. After all, Gaynor's company is already
something of an empire. There are several divisions underneath the
TNG banner: The Industry Source, a mail order and retail store
division; Hairco, a full-service hair-care products division;
Beauty Direct, a master distributor for dealers, distributors and
over-the-counter stores; and NailSmart, a discount nail product
supplier.
Page 1 |
2 |
3 |
4 