The Wisdom of Sam Walton
Sam Walton built a culture of
leaders he was rewarded with the largest company in the
world. Sam had amazing abilities to cast and realize a vision because he was the real deal and he kept score. He changed the rules of big box retailing causing competitors to play by his new rules. Like him, like Wal-Mart or not, one thing is true,
Sam will go down in history as one of the greatest business minds of the 21st
century. We all benefitted from his business model by paying less for the
things we consume. Sam Walton and Bill Gates’ businesses were, and continue to
be, great forces to fight inflation in the last decade, not just
in America but globally.
Here are Sam’s 10 Powerful
Rules. Imagine if businesses lived by his rules like he did.
1) Commit to your business. Believe
in it more than anybody else. Sheer passion will win every day.
2) Share your profits with your
associates and treat them as partners. Behave as a servant leader.
3) Motivate your partners. Be
creative in new ways to motivate and challenge your partners. Set high goals
and encourage competition and then keep score. Make bets with outrageous pay
offs.
4) Communicate everything you
possibly can with your partners. The more they know the more they will
understand. The more they will understand the more they will care.
5) Appreciate everything your
associates do for the business. We all like to hear it often, and especially
when we have done something we’re really proud of.
6) Celebrate your success. Show
enthusiasm always. Find humor in your failures.
7) Listen to everyone in your
company. Get the people talking.
8) Exceed your customers’
expectations and they will pay you back in loyalty.
9) Control your expenses better
than your competition.
10) Swim against the current. Ignore
conventional wisdom. Understanding the rules is easy the tough part is
implementing them.
Be blessed, and then be a blessing to others
Carlos
Fontana, President of Phalanx
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