Business Longevity

I’ve always been attracted to thought-leaders. Amro Music has created four generations of thought leadership.

In my previous post, “Amro Music: The First 100 years,” Chip Averwater, third generation and past Amro’s chairman, has brought his ‘unconventional wisdom’ to all who will listen.

Today, CJ Averwater, fourth generation, tells it from the perspective of the newly minted president of Amro Music.

Below are paraphrased excerpts from my conversation with CJ, which will premiere on The Sound of Money Live via fb.com/mmrmagazine on July 15th at 4:00 ET..

1. Tell me about the culture at Amro Music? (Amro is located in Memphis TN)
2. Amro has an average tenure of 11 years. We have some of the most dedicated and passionate people I’ve seen in music retail. It all starts with the hire. Hire people smarter than you are, give them the tools, and get out of the way.
3. 11 years is incredible. (The average tenure for employees aged between 24 and 34 is 3.2 years.). You must be doing something right!
4. Let me give you an example. My great grandfather hired a young man in the late 1920s. A short number of years ago, when he could no longer work, he retired. If you make it a fun place to work, people will be productive and won’t want to leave.
5. Tell me about the AMRO Way?
6. We developed the AMRO Way to reflect our fundamentals, a shared belief system consisting of attitudes and behaviors that set us apart. These fundamentals guides us daily to our mission of being recognizably the best.
7. Can you give me an example of some of your ‘fundamentals?’
8. The first few have to do with the mindset our employees need to develop like; ‘never be satisfied, and start with the “yes.”, and ‘define your end-zone.’
9. All important. How do you get everyone to buy in. It’s always about implementation.
10. The fundamentals were developed by our entire team. Everyone had the opportunity to contribute. Each employee signed his or her name to the document.
11. Wow. Very ambitious. How does it work on a practical, every day level?
12. We all hold each other accountable to adhere to it. For example, one of the decisions I was going to make didn’t comply, and I was immediately called out on it. Our employee told me that the decision I was about to make was not in harmony with The AMRO Way. I thought about it, and he was right. We are all deeply committed to our mission of being recognizably the best!

If you want to hear directly from CJ Averwater,  the maestro himself, tune into The Sound of Money Live, on fb.com/mmrmagazine on July 16th at 4:00 EST.

Jaimie Blackman — a former music educator & retailer— is co-founder of BH Wealth Management. The organization offers financial advice, insurance and succession planning services. Jaimie hosts The Sound of Money Live presented by MMR. Discover how much risk is in your portfolio. Visitbhwealth.com/riskvideo. Registered Representative, First Allied Securities, Inc. Member FINRA/SIPC