Mitchell Gold responds to host Guy Raz's estimate that Mitchell Gold + Bob Williams has grown to at least a $300 million annual business.
Assertion Not checkable as stated
Gold: Lane Furniture forced him to hide his sexual orientation
“They had moved me down to North Carolina, and it became very obvious to me that I couldn't be out. I couldn't bring Bob with me to functions of the company functions when they had spouses, and their whole way of operating was just not honest, is the best way I…”
Insight
Mitchell Gold: Furniture makers must over-order fabric by up to 20%
“And if they order, let's just say, 500 chairs, you really can't order fabric for 500 chairs. You really have to order for 550 chairs, 600. You have to give yourself a little bit extra in case some of the fabric's not good, or in case they get it. It sells real…”
Insight
Gold: Building customer-requested products pre-secures sales before production
“And that's the best way when your customers are asking you, And they're engaged with you on the product that you're developing, then they're buying it. They're buying it before you even make it.”
Assertion Not checkable as stated
Gold: Cutting retail accounts from 72 to 48 grew business 48%
“Bob and I sat down, and we went through the 72 customers that we had, and we dropped it to 48, and we said, these 48 we're going to be able now to give better service to. I swear this number is true. In that year, our business increased 48%.”
Assertion Not checkable as stated
Gold: Mitchell Gold + Bob Williams reached $1,500 sales per square foot
“And in short order, we were doing 1500 dollars a square foot, which is unheard of in the furniture industry. The furniture industry on average at the time was about 240 dollars a square foot.”
Insight
Gold: A factory cannot be profitable running at 55% capacity
“And you really can't make money running a factory at 55% capacity”