Jack Stack shares his formula for success with others
Jack Stack, CEO, SRC Holdings Corp. shares his formula for success with others. He also helped shape the educational efforts of RIC as a Founding Chairman and was recently awarded for this with a 2020 Educational ACE Award.
Rematec News published an extensive interview with Jack Stack almost three years ago. In this interview in December 2017 Stack already mentioned his company was preparing for a recession. With the right preparation, the company always achieved to double its value in the 5 years after recession is to be read in the 2017 article:
“Even though Stack and SRC have achieved great success, he is not content to coast. When asked what he still hopes to accomplish in his career, Stack says: “We put together a plan back in 2009 of what we needed to do by 2019 when we believe there will be a recession. We want to have a balance sheet that will put us in a significant opportunity to be able to double our growth in the five years following 2019.” He said they have targeted a nine-digit number for liquidity on the balance sheet in order to make a move in 2019. “We are planning for a recession,” Stack explains. “We have been through four recessions and we have doubled the value of our business five years after each recession because we had a strong balance sheet.” Stack says SRC is building the balance sheet and is 70% of the way to hitting their goal: “Hitting that is my goal right now and then we will lay out another ten-year plan.” If history is any indication, Stack and SRC should continue to be successful. After all it’s just a matter of balance in order to make absolutely certain you have the strength in order to be successful, according to Stack. He says too many people get trapped on the top line. “Everyone likes cocktail talk about the million-dollar company. We never focus on the top line - we have always focused on the value proposition and how strong our balance sheet was.”
Read the full 2017 interview “Jack Stack, the man in love with remanufacturing” here
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