Sam Walton, Made in America. His business earned more than Warren Buffet and Bill Gates combined !
There is still a lot of people who never heard of Sam Walton. He is a founder of Wal-Mart, the grocery store chain in the US. It is the biggest discount supermarket chain in the World. I’m also surprised that I heard of Sam Walton only this year. What’s more interesting is that Mr. Walton was the richest man in the World.
Who that hell is Sam Walton? Well, I can only tell you that it definitely pays to know his success story. He is a heavy weight champion of all times.
Sam was at his deathbed when he wrote this book Made in America. This is one of the best, if not the best book about creating a business and management. I discovered that there are no tricks or secrets to become a billionaire and yet so few people make it. Here is an advise from Sam, the best business person in human’s history.
Rule 1. Commit to your business. Believe in you needs more than anybody else. I think I overcome every single one of my personal shortcomings by the sheer passion I brought to my work.
Rule 2. Share your profits with all your associates, and treat them as partners. In turn, they will treat you as a partner, and together you will all perform beyond your wildest expectations.
Rule 3. Motivate your partners. Money and ownership alone aren’t enough. Constantly, day by day, think of new and more interesting ways to motivate and challenge your partners. Keep everybody guessing as to what your next trick is going to be. Don’t become too predictable.
Rule 4. Communicate everything you possibly can see your partners. The more they know, the more they will understand. If you don’t trust your associate to know what’s going on, they’ll know you don’t really consider them partners.
Rule 5. Appreciate everything your associates do for the business. A paycheck and stock option will buy one kind of loyalty. But all of us like to be told how much somebody appreciates what we do for him or her.
Rule 6. Celebrate your successes. Find some humor in your failures. Don’t take yourself so seriously. Loosen up, and everybody around you will loosen up. Have fun. Show enthusiasm, always.
Rule 7. Listen to everyone in your company. And figure out ways to get them talking. The folks on the front lines, the ones who actually talk to the customer, are the only ones who really know what’s going on out there.
Rule 8. Exceed your customers’ expectations. If you do, they’ll come back over and over. Give them what they want, and a little more. Don’t make excuses, apologize.
It’s really an eye opener. This book is amazing. You probably haven’t heard of it because no one is really bothered to market it better. It has a crappy picture on the front page and no marketing whatsoever. Don’t worry; marketing doesn’t usually represent real value. This book is real gem.