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Home » Here’s How Trust & Kindness Make A Business Successful: James Timpson (Transcript)

Here’s How Trust & Kindness Make A Business Successful: James Timpson (Transcript)

Here is the full transcript of Mancunian entrepreneur James Timpson’s talk titled “Here’s How Trust & Kindness Make A Business Successful” at TEDxManchester conference.

Listen to the audio version here:

TRANSCRIPT:

Early Career and Learning from Other Businesses

When I was 28 years old, I had a conversation with my dad, and it was pretty clear that I had to get ready to run our family retail business. But I wanted to learn some new skills and to see how other people did it, because I knew I wanted to do things differently.

So I spent two years reading books about these amazing businesses I’d heard about, and then I started writing to these business leaders to see if I could just spend a day with them, carrying their bag around, and it’s amazing how many said yes. And then I went to go and see businesses in America, in Europe, in Australia, and I wanted to learn what were the magic ingredients.

Was it all about having amazing shops and amazing locations as a retailer? Was it about being the perfect sort of corporate organization where everything worked brilliantly? Was it about having seamlessly amazing financial processes? And I didn’t see that.

The Magic Ingredients: Trust and Kindness

What I saw is businesses that I admired got two things right. They trusted their people and they were kind to them. So I took all this information and worked it out and sat down with my dad and with lots of colleagues, and we came up with our new culture, which we called upside-down management. And it works on the principles of trust.

We trust our colleagues because we think they’re fantastic. We don’t like rules. In fact, we only have two rules. Simple rules.

Empowering Colleagues and Encouraging Innovation

You put the money in the till, and you look the part. That means you turn up on time in the shops, you don’t have the radio on, you’re polite to people, and it’s sort of quite clean and tidy, and in the evening, you close up on time. That’s all we ask. The rest, you could do whatever you want.

You can charge what you like, as long as you can do discounts, you can do deals. We actually encourage our colleagues to give things away for free. Four percent of all of our transactions are for free. You can order whatever stock you want, you can go on breaks whenever you want.

You can even paint the shop pink if you want, and we do actually have a shop painted pink. Because the more you are trusted, the more you can innovate, and the more you can be yourself. And what we find is the more people are trusted, the happier they are. And the happier they are, the better they serve customers, the more likely they are to stay, and they are better at selling and being part of our culture.

Kindness Beyond Performance

But it isn’t just about trusting people. You’ve got to get the kindness bit right. And what I did is I just went around finding out what are all the ideas that other people did to reward and be kind to their colleagues. So we have a weekly bonus scheme in our shops where our colleagues earn on average about 90 pounds a week.

It’s basically a sales commission bonus. But it’s not really about money. Kindness is about the things that you can amaze your colleagues through. There’s nothing to do with how they perform at work. So we came up with, the first one we did was you get your birthday off as an extra day off. And over the years, we got a bit carried away. You get an extra week off when you get married. You get an extra day off when your kids have their first day at school.

We even do pet bereavement days. Because that is what a business needs to do. It needs to understand how you appeal to your colleagues. So it’s not just about giving days off.

Making Dreams Come True

It’s about dreams come true. We spend a million pounds a year making our colleagues’ dreams come true. In fact, the last couple of weeks, we’ve paid for new teeth. We seem to do a lot of new teeth. We paid for new teeth for a colleague who had just become a grandfather. And he felt he couldn’t smile in front of his new grandchild because he was ashamed of his teeth.

We’ve also paid for someone’s garden to get done up. And we paid for someone to go to Disneyland. It’s a dream they’ve always had. And again, this is what I believe companies should do. It’s how you instill kindness. And it’s not just about giving dreams come true.

It’s not just about giving days off. It’s about leaders knowing and understanding their colleagues. That’s why our area managers, which in our business are sort of the key role, they need to know their people. We actually test them every year to make sure that they do know their people.

And if they get less than 80%, we have a problem with that. So we trust people. We’re kind to them. But how do we know that it works?

Measuring Happiness and Its Impact

I can show you our figures because every year we have the happy index, which is our annual survey. And it’s probably different from most of the surveys that you’ve been on, that you’ve had in your organizations. We only have one question. On a scale of one to ten, how happy are you with your boss, your area manager, your team leader?

And for that area manager or team leader, this survey is like A-level results day. It is a big deal. It is the one thing that they are judged on all year. We don’t judge them on their financial performance. We don’t judge them on how tidy their shops are. We don’t judge them on their colleague turnover.