In 1992, Sam Walton, the founder of Walmart, published a memoir called Sam Walton: Made In America. In it, he detailed his life, from growing up in rural Arkansas to building Walmart into a global retail powerhouse. The book was a huge success, selling more than two million copies.
Now, 25 years later, Walton’s grandson, Luke, has written a follow-up to his grandfather’s book. Sam Walton: Made In America, by Luke Walton and John Huey, tells the story of Walmart’s rise to become the world’s largest retailer, as well as the challenges it has faced along the way.
The book is a fascinating read and provides a unique insight into the mind of one of the most successful entrepreneurs of the 20th century. Here are 10 things we learned from Sam Walton: Made In America.
- Risk taker
From an early age, Walton was not afraid to take risks. He dropped out of college to start a retail business and later took out a loan to open his first Walmart store.
2. Great negotiator
Walton was a master negotiator. He was able to get suppliers to give him lower prices, and he was also able to convince landlords to give him lower rents.
3. Visionary
Walton had a clear vision for Walmart, and he was able to articulate it to his employees. He wanted Walmart to be the “low-price leader.”
4. Great motivator
Walton was able to motivate his employees to work hard. He did this by offering them incentives, such as bonuses and stock options.
5. Great communicator
Walton was a gifted communicator. He was able to communicate his vision for Walmart to his employees, and he was also able to communicate with the media.
6. Great marketer
Walton was a master marketer. He was able to use marketing to drive traffic to his stores. He also used marketing to build Walmart’s brand.
7. Great manager
Walton was a gifted manager. He was able to delegate tasks and responsibilities to his employees. He was also able to keep his employees motivated.
8. Great leader
Walton was a natural leader. He was able to inspire his employees to work hard. He was also able to make difficult decisions.
9. Great teacher
Walton was a gifted teacher. He was able to teach his employees the importance of hard work and dedication. He was also able to teach them the importance of customer service.
10. Great human being
Walton was a kind and compassionate man. He was always willing to help those in need. He was also a man of his word.
In conclusion:
Sam Walton was a man who believed in hard work and determination. He was a man who took risks and was always looking for new opportunities. He was a man who built Walmart into the largest retailer in the world.
If you want to be successful in business, you can learn from the life of Sam Walton. Work hard, take risks, and always be looking for new opportunities.