Bob Taylor tells it like it is

Indianapolis -- For 40 years, Bob Taylor has worked in the hardware industry. Starting out in his own family's Virginia Beach, Virginia-based Taylor Do it centers, he spent the last 14 years in the role of CEO of Do it Best Corp.

As the 70th Anniversary Do it Best October Market draws to a close here at the Indiana Convention Center, so too does Taylor's Do it Best career. Officially, he'll be succeeded by executive VP and COO Dan Starr on Jan. 4.

Over the years, Taylor has earned a reputation for class-act integrity, even among his competitors. And his final, official, meet-the-press interview held here Saturday morning shed light on Taylor's views on business, change and integrity. Here's a breakdown, in his words, of some of the major themes from his hardware career:

On looking back at his career:

"It hits me most, thinking about the last 15 years, when I looked back at the Christmas card my family sent out the December before I moved to Fort Wayne [Indiana, Do it Best Corp. headquarters.] It hit me to see how small our children were in that picture, and how big they are today."

On advice to retailers:

"I always share that learning is a journey; it's not a destination. it's important to continue that learning process. You got to be a student of the industry, whether it's going to trade shows or markets or other educational opportunities. It doesn't matter if you're a youngster in the business or just trying to recharge your batteries. Those things are real important to that continual learning process. …

"My first job was working at a motel down at the ocean front. Whether you're sweeping carpets or washing dishes, it's always about doing your best, and not being afraid to fail. If you're not making a few mistakes, your not reaching far enough. But you always want to give your best trying to make that happen."

On advice to himself:

"There's one thing I wish I'd done more is ask more questions, because that's how you learn what's going on."

On the biggest opportunity for retailers:

"I really think it's about embracing that local connection they have. Many of our members may or may not have the financial wherewithal to be big contributors to community groups, but they absolutely have the time available and the presence to be able to connect in a significant way in their communities, which builds their connection in a very special way. And if they aren't playing that up to their fullest, they're missing a huge opportunity.

"One of our members put it this way: 'If your name's on the door, you care a lot more.' And I think that's so true."

On the challenge of business succession:

"In dealing with individual retailer-members, how do you ensure that that business is perpetuated from one generation to the next? It's not an easy thing to do. And when you think of single-site operations, the challenge is even greater. And that next generation of leaders -- whether they're in the family or not -- are going to be attracted by opportunities elsewhere. So, how do we compete with that? It takes planning. And too often that planning element is missing."

On difficult decisions and managing through the downturn:

"I look back on that 15-year period and it included, of course, the worst recession that any of us have ever been through. So, our Retail Support Centers are a production environment. And when you have a volume that's down, you have to be honest and say we don't need as many staff hours.

"But what we did is this -- we went to our team and said, 'We think we have a pretty good group; we're proud of our team. We see a positive turnaround in the future, but right now we have to make some adjustments. We had enough people take volunteer time off that we didn't have to make a single layoff during that entire downturn. Not one. And it's a credit to our team to make sacrifices to help us through that.

"The result of that for our members was we had some of the highest rebates ever. The bottom-line contribution back to our members didn't waiver.

"So I look back at the support we provided during that time, and the work our team did to make that happen, I think we can all be very proud of the way we stepped up."

On the things he's going to miss the most:

"The people. I'll still have a chance to come to back to markets, but the thing I'll miss is the day-to-day interaction. I'm in the office pretty early in the morning, and I work pretty late. But it never feels like work. I enjoy doing what I'm doing. Stepping away from this is not going to be the easiest thing in the world. And I wouldn't bet any cash money that I'll keep my emotions in check on Sunday night (the night of Taylor's final president's speech to shareholders)."

On relationships:

"The thing that made it so enjoyable is the team that I've been fortunate to be surrounded with. We have a great group of staff members and members. I tell everybody this is really a relationship-driven business. If it wasn't I wouldn't have been a part of it for 40 years."

On Incoming CEO Dan Starr:

"Dan has been with us about a decade. He came with us from our outside counsel. Going back a three-year-plus period, we identified Dan and moved him into the EVP COO position, a great platform for him to grow, develop and connect with all aspects of our operations. And he has played a key role in our strategic planning efforts. I told our board, it's not my job to pick the next individual. It's your job to do that, but it's my job to make that an easy choice for you.

"Dan is a smart guy, connects well personally and is a good leader with a servant's heart. And from a cultural standpoint, I am pretty certain that that will continue under Dan's leadership."

On the 2015 October Market:

"I heard so many comments from members about what they see, and they're excited. The new aspect of the paint program, the Milwaukee Tool [programs], the Channellock [programs]. I really enjoy the energy that I see in the membership. And it makes me feel pretty positive about the outlook moving forward."

On vendors:

"There's not a market we've had to date that I haven't walked every inch of every aisle, because I still appreciate the work they do."

On integrity:

"There are tough competitors out there. You work hard and you play hard against them, but I don't try to take it personal. When things come up that you need to talk about, you want to be able to pick up the phone and call. …

"And If you've got to share bad news with someone, you better go ahead and share it. It doesn't help to hide it. Don't try and sugar coat it or cover it up. Just be honest and open about your decisions. And at the end of the day you gotta be able to sleep on the decision you made and move forward. Hopefully, most of your decisions are the right ones."