What Sam Walton Can Teach You to TRANSFORM Your BUSINESS!

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3 Success Tips from Sam Walton

My name is Evan Carmichael and I believe that the fastest and most effective way to build a business is to model the strategies of people who have already done what you're trying to do. I call it Modeling the Masters. My last post with over 30 comments was 3 Business Lessons from George Foreman.

Today we're going to take a closer look at how a farm boy from Oklahoma wanted to pursue a Master's degree but couldn't afford. In urgent need of money he opened up his first retail store and would eventually become the richest man in North America. This is the story of Wal-Mart founder Sam Walton and the top 3 lessons that you can learn from his success.

"Ignore the conventional wisdom. If everybody else is doing it one way, there's a good chance you can find your niche by going in exactly the opposite direction." - Sam Walton

Sam Walton (born March 29, 1918) is an American entrepreneur that built Wal-Mart, the largest retail chain store in the world. He started out as a farm boy and became the richest man in America in the 1980s. From the farmlands of Oklahoma, Walton began his journey in life. His father, Thomas, was a farmer that felt he could not raise his family on the money being brought in from the farm, so he would pack everyone up and move the family to Missouri. There Thomas would become a farm loan appraiser.

Even though this job meant that the Walton family would travel all over Missouri, Sam Walton would not be discouraged. He would also excel at academics and sports, leading his high school football team as quarterback to a state championship. From high school, Walton would attend the University of Missouri and achieve his bachelor's degree in economics. While getting his bachelor's degree, he would become interested in commerce. This would make him want to enroll in the Wharton School of Business, but he could not afford to attend. He would find a job at JCPenney as a manager just three days after graduating the University of Missouri, but would eventually resign this job so he would be available to join the US military.

After serving as a security officer in the US Army Intelligence Corps for three years, Walton would resign his captain's commission. In 1945, Walton would ask his father-in-law for a loan of $20,000 so he could buy his first retail store, a Ben Franklin variety store. This would start a journey that would help him develop many of the techniques he would implement in his Wal-Mart chain of stores. These remarkable chains of events would make Walton worth more than $23 billion in the 1980s and today, Wal-Mart brings in more than $300 billion annually, along with the Sam's Club franchise Walton started, which brings in more than $40 billion annually.

Action Item #1: Treat the Customer as the Boss

Action Item #2: Success Depends on Employees

Action Item #3: Embrace New Technology

Quotes

"If you love your work, you'll be out there every day trying to do it the best you possibly can, and pretty soon everybody around will catch the passion from you -- like a fever."

"Commit to your business. Believe in it more than anybody else."

"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. When all else fails, put on a costume and sing a silly song. Then make everybody else sing with you. Don't do a hula on wall Street. It's been done. Think up your own stunt. All of this is more important, and more fun, than you think, and it really fools the competition."

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Видео What Sam Walton Can Teach You to TRANSFORM Your BUSINESS! канала Evan Carmichael