Clay dives into the life and legacy of Sol Price, the pioneering retail entrepreneur who revolutionized the industry with FedMart and Price Club, ultimately leading to the creation of Costco. The episode explores how Price's business philosophies, including treating employees well and maintaining a relentless focus on providing value to customers, inspired iconic entrepreneurs like Sam Walton and Jeff Bezos.IN THIS EPISODE YOU’LL LEARN:00:00 - Intro01:45 - The story of Sol Price starting Fedmart and Price Club.19:30 - Sol Price’s core business philosophies50:47 - The key ingredients to the success of Costco’s business model.52:58 - What led to the emergence of Costco and the eventual merger with Price Club.01:01:40 - An overview of Costco’s business model todayAnd so much more!Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCES<ul>
<li>Join the exclusive <a href="https://www.theinvestorspodcast.com/mastermind-2/">TIP Mastermind Community</a> to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.</li>
<li>Books mentioned: <a href="https://amzn.to/4hhnX0H">Sol Price: Retail Revolutionary & Social Innovator</a>, and <a href="https://amzn.to/40yZBKl">The Joy of Costco</a>.
</li>
<li>Jim Sinegal’s <a href="https://www.fool.com/investing/general/2013/07/31/an-interview-with-jim-sinegal-of-costco.aspx">interview</a> with the Motley Fool.</li>
<li>The Science of Hitting <a href="https://thescienceofhitting.com/">Blog</a>.
</li>
<li>Email Shawn at <a href="mailto:shawn@theinvestorspodcast.com">shawn@theinvestorspodcast.com</a> to attend our free events in Omaha or visit <a href="https://www.theinvestorspodcast.com/how-to-attend-the-berkshire-hathaway-annual-meeting/">this page</a>.</li>
<li>Related Episode: Listen to <a href="https://www.theinvestorspodcast.com/episodes/the-best-investor-youve-never-heard-of/">TIP492: The Best Investor You've Never Heard Of</a>.</li>
<li>Related Episode: Listen to <a href="https://www.theinvestorspodcast.com/episodes/value-investing-fundamentals-w-john-huber/">TIP634: Value Investing Fundamentals w/ John Huber</a>.</li>
<li>Follow Clay on <a href="https://twitter.com/Clay_Finck">Twitter</a>.</li>
<li>Check out all the books mentioned and discussed in our podcast episodes <a href="https://prodcast.io/wsb">here</a>.</li>
<li>Enjoy ad-free episodes when you subscribe to our <a href="https://premium.theinvestorspodcast.com/">Premium Feed</a>.</li>
</ul><h3></h3><h3>NEW TO THE SHOW?</h3><ul>
<li>Follow our official social media accounts: <a href="https://twitter.com/TIP_Network">X (Twitter)</a> | <a href="https://www.linkedin.com/company/the-investor's-podcast/">LinkedIn</a> | <a href="https://www.instagram.com/theinvestorspodcastnetwork/">Instagram</a> | <a href="https://www.facebook.com/TheInvestorsPodcast">Facebook</a> | <a href="https://www.tiktok.com/@theinvestorspodcast">TikTok</a>.</li>
<li>Check out our <a href="https://www.theinvestorspodcast.com/we-study-billionaires-starter-packs/">We Study Billionaires Starter Packs</a>.</li>
<li>Browse through all our episodes (complete with transcripts) <a href="https://www.theinvestorspodcast.com/we-study-billionaires/">here</a>.</li>
<li>Try our tool for picking stock winners and managing our portfolios: <a href="https://www.theinvestorspodcast.com/tip-finance/">TIP Finance Tool</a>.</li>
<li>Enjoy exclusive perks from our <a href="https://www.theinvestorspodcast.com/affiliates/">favorite Apps and Services</a>.</li>
<li>Stay up-to-date on financial markets and investing strategies through our daily newsletter, <a href="https://www.theinvestorspodcast.com/newsletters/">We Study Markets</a>.</li>
<li>Learn how to better start, manage, and grow your business with the <a href="https://www.theinvestorspodcast.com/podcasts/20-best-business-podcasts/">best business podcasts</a>.</li>
</ul>SPONSORSSupport our free podcast by supporting our <a href="https://theinvestorspodcast.com/sponsors">sponsors</a>:<ul>
<li><a href="https://www.hardblock.com.au/join/fundamentals">Hardblock</a></li>
<li><a href="https://simplemining.io/preston">SimpleMining</a></li>
<li><a href="https://unchained.com/fundamentals">Unchained</a></li>
<li><a href="https://www.thebitcoinway.com/tip">The Bitcoin Way</a></li>
<li><a href="https://www.found.com/wsb">Found</a></li>
<li><a href="https://fintool.com/?utm_source=spotify&utm_medium=podcast&utm_campaign=the_investors_podcast">Fintool</a></li>
<li><a href="https://bluehost.com/">Bluehost</a></li>
<li><a href="https://www.vanta.com/billionaires">Vanta</a></li>
<li><a href="https://fintool.com/?utm_source=spotify&utm_medium=podcast&utm_campaign=the_investors_podcast">Fintool</a></li>
<li><a href="https://prizepicks.onelink.me/LME0/WSB">PrizePicks</a></li>
<li><a href="https://onrampbitcoin.com/">Onramp</a></li>
<li><a href="https://turbotax.com/">TurboTax</a></li>
<li><a href="https://fundrise.com/WSB">Fundrise</a></li>
</ul>HELP US OUT!Help us reach new listeners by leaving us a <a href="https://docs.google.com/presentation/d/1Rnl5KGxmrYISQ7UfbEREMN-AD6b40i6CwWUbXaTabmI/edit">rating and review</a> on <a href="https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP?si=e77332a33ef04a7c">Spotify</a>! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!Support our show by becoming a premium member! <a href="https://theinvestorspodcastnetwork.supportingcast.fm/">https://theinvestorspodcastnetwork.supportingcast.fm</a> Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>Support our show by becoming a premium member! <a href="https://theinvestorspodcastnetwork.supportingcast.fm">https://theinvestorspodcastnetwork.supportingcast.fm</a>

Podurama

Home

Trending

Personal

Your Podcasts

New Episodes

My Files

Favourite Episodes

Tags (Folders)

Recently Played

Bookmarks

Followed Playlists

TIP691: Sol Price: The Retail Visionary Behind Costco w/ Clay Finck

We Study Billionaires - The Investor’s Podcast Network

AI Chapters

AI Insights

Reviews