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sam

061: Sam Walton’s 10 Rules for Building a Business

sam

The perfect ending to a wonderful book. Sam Walton shares his 10 Rules for Building a Business. How do you stack up?

Rule 1: COMMIT to your business. Believe in it more than anybody else.

Rule 2: SHARE your profits with all your associates, and treat them as partners. In turn, they will treat you as a partner.

Rule 3: MOTIVATE your partners. Money and ownership alone aren’t enough.

Rule 4: COMMUNICATE everything you possibly can to your partners. The more they know, the more they’ll understand. The more they understand, the more they’ll care.

Rule 5: APPRECIATE everything your associates do for the business.

Rule 6: CELEBRATE your successes. Find some humor in your failures. Don’t take yourself so seriously.

Rule 7: LISTEN to everyone in your company. And figure out ways to get them talking.

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.

Rule 9: CONTROL your expenses better than your competition.

Rule 10: SWIM upstream. Go the other way. Ignore the conventional wisdom.

In today’s episode, go through his 10 rules and share some insights of my own. Enjoy!

greeter

060: The Origin Story of the Walmart Greeter

greeter

If you ask just about any of the 350+ million people living in the USA if they are familiar with the Walmart greeter, they would say “Yes.” The Walmart greeter is as connected to Walmart as the Swoosh is to Nike or the i… is to Apple.

As many people as there are that know about the Walmart greeter, I am sure there are just a handful of people that know the origin story.

I am about to share it with you today.

I am also going to share 3 big takeaways from the show:

1 Always look at things from the customer’s perspective

2 Always look for ways to add more value

3 Be relentless with your execution

If you would like examples of the 3 takeaways and implementation strategies or if you just want to hear the origin story of the Walmart greeter, which is fascinating in and of itself, enjoy the episode!

sam-walton

059: Sam Walton’s Lessons to Get More Out of Your Team

sam-walton

Sam Walton was a master of growth and getting extraordinary results from his employees, or associates, as he liked to call them. He boiled it down to 3 basic principles which we talk about in the show today:

1 Keep Your Ear to the Ground

“A computer is not – and will never be – a substitute for getting out in your stores and learning what’s going on. In other words, a computer can tell you down to the dime what you’ve sold. But it can never tell you how much you could have sold.”

2 Push Responsibility – And Authority – Down

“The bigger we get as a company, the more important it becomes for us to shift responsibility and authority toward the front lines, toward that department manager who’s stocking the shelves and talking to the customer.”

3 Force Ideas to Bubble Up

“We’re always looking for new ways to encourage our associates out in the stores to push their ideas up through the system. We do a lot of this at Saturday morning meetings. We’ll invite associates who have thought up something that’s really worked well for their store – a particular item or a particular display – to come share those ideas with us.”

Great lessons. I don’t know about you, but I am going to begin to implement these ideas to a higher level immediately.

Enjoy the episode!