Sam Walton’s 10 Rules
Sam Walton grew up poor during the Great Depression, yet rose to start the biggest retail store Wal-Mart.
Here’s his 10 rules for building a successful business:
Rule 1: Commit to your business.
Rule 2: Share your profits with all your associates, and treat then as partners.
Rule 3: Motivate your partners.
Rule 4: Communicate everything you possibly can to your partners.
Rule 5: Appreciate everything your associates do for the business.Rule 6: Celebrate your success.
Rule 7: Listen to everyone in your company and figure out ways to get them talking.
Rule 8: Exceed your customer’s expectations.Rule 9: Control your expenses better than your competition.
Rule 10: Swim upstream.
Photo by Wal-Mart.
Brian on November 2nd, 2006 6:51 pm
Additional comments on the 10 rules:
An increase in profits should always mean an increase in everyone’s income.
All partners should know what is going on all of the time. There should never be any secrets.
Everyone works hard. Successes should be celebrated and remembered and appreciated.
Expenses need to be monitored and one must ensure that expenses are under control. Waves in business can hit extreme lows and in these cases, expenses need to be reasonable.
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