Every person wants to achieve a lot in life, buy whatever they want and not think about expenses. However, when your situation is hopeless, you are forced to count every penny you spend. The book market is literally flooded with psychological aids on how you can get rich in a short time, but you understand that all this is not what you need. These sophisticated psychologists, who know nothing about business issues, churn out their same-type and unnecessary little books and succeed only in selling them to the next naive reader. That's why they succeed, but you don't, studying mountains of useless waste paper.
Only those who have succeeded in this matter should write a book about business and creative growth. For example, such as the author of the book “How I Created Walmart,” Sam Walton. This man is one of the richest people of the 20th century, he knows everything about retail trade. Starting from opening a small store, he ended up creating Wal-Mart Stores, which operates one of the largest retail chains. The numbers speak for themselves. Just think about it: the net profit of this campaign for 2016 is more than $14 billion. These are simply huge numbers! Now you understand that this man is a predatory shark in world business, and he knows all the pitfalls that an entrepreneur should avoid on the way to mastering the top of professional Olympus.
Ambition is one of the main keys to success in achieving what you want. The author speaks about this in his psychological manual “How I Created Walmart”. You must have a mind set to make money, and you must develop an entrepreneurial spirit. They say that to become rich, you need a lot of starting capital. It is not true. Sam Walton's childhood was difficult, because it took place during the Great Depression, but this man's family did not give up, they were real hard workers and were always looking for an opportunity to earn extra money. It is possible that the boy was influenced by such a difficult life and he made a vow to himself that he would definitely become rich. The main thing that the teenager understood at that time was that one should not waste money. Every dollar mined was worth its weight in gold to this family. Growing up, Sam Walton still followed this rule: he accumulated money, and did not waste it.
Reading the book “How I Created Walmart” will be useful not only for managers and businessmen, but also for the average reader interested in issues of economic activity and personal growth. In this psychological guide, you will learn ten rules for running a successful business from a highly qualified specialist from one of the largest companies in the world. The author will tell you how to improve the quality of service to your clients, how to create effective work in your team, a favorable psychological climate, and much more. In the psychological guide “How I Created Walmart” you will find a lot of useful and fascinating information that will charge you for the upcoming changes with a “+” sign in your life.
On our literary website books2you.ru you can download Sam Walton’s book “How I Created Walmart” for free in formats suitable for different devices - epub, fb2, txt, rtf. Do you like to read books and always keep up with new releases? We have a large selection of books of various genres: classics, modern fiction, psychological literature and children's publications. In addition, we offer interesting and educational articles for aspiring writers and all those who want to learn how to write beautifully. Each of our visitors will be able to find something useful and exciting for themselves.
How I created Walmart Sam Walton
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Title: How I created Walmart
Posted by Sam Walton
Year: 1992
Genre: Management, personnel selection, Popular business, Foreign business literature
About the book "How I Created Walmart" Sam Walton
Sam Walton is the undisputed king of retail, the founder of the largest chain of stores. In just a few decades, he turned a small store in a provincial town into a huge retail chain. His famous book, How I Started Walmart, is primarily about the courage, optimism and hard work that enabled the author to achieve his lifelong dream and create a thriving business. This is not just another success story based on general phrases and statements devoid of specifics. This is a kind of practical guide to managing a commercial enterprise, written by a true professional in his field. Reading this work will be useful not only for managers and businessmen whose activities are directly related to the organization of the trading process, but also for a wide audience.
In How I Started Walmart, the humble yet confident Sam Walton gives us his insight into how to break into big business. Before us is the real realization of the American dream in its best traditions. Starting small, the author worked his way to success for many years until he became one of the richest people in his country. One of the fundamental rules for achieving success in business is the need to know the value of money. It is for this purpose that it is important to teach children from an early age to work and to save wisely. In addition, when starting your own business, you must first of all pay attention to free niches that can be occupied without excessive investments and labor costs. For example, the author himself began his work in the provinces, and over time he switched to big cities.
Sam Walton, in his work “How I Created Walmart,” describes the process of the emergence of discount trading in America, and also talks about his own unique approach to organizing the functioning of retail businesses. According to him, every time a company spends even a small amount of money thoughtlessly, it negatively affects purchasing power. At the same time, reasonable management of funds entails an undeniable competitive advantage. Also in his work, the author encourages us to never take failures to heart. After all, if you work hard, the vast majority of disadvantages can be turned into undeniable advantages. The book “How I Created Walmart” is written in a very optimistic and life-affirming manner, so it will be interesting to read for all connoisseurs of high-quality motivational literature and works devoted to personal development.
On our website about books lifeinbooks.net you can download for free without registration or read online the book “How I Created Walmart” by Sam Walton in epub, fb2, txt, rtf, pdf formats for iPad, iPhone, Android and Kindle. The book will give you a lot of pleasant moments and real pleasure from reading. You can buy the full version from our partner. Also, here you will find the latest news from the literary world, learn the biography of your favorite authors. For beginning writers, there is a separate section with useful tips and tricks, interesting articles, thanks to which you yourself can try your hand at literary crafts.
Umali, Bill Gates has always been considered the richest man in the world? But no - from 1985 to 1988 the palm was held by the creator of the retail chain of Wal-Mart stores, Sam Walton. He wrote about his success story in his autobiography, “Made in America. How I Created Wal-Mart.” So, let's read Uncle Sam's business lessons!
Who is Sam Walton?
The king of American trade, Walton deserves not only a book, but at least a TV series based on real events. His life is a wildly twisted plot, a story of ups and downs, resounding success, huge money, universal honor.
Like many great businessmen, the future tycoon was born in a provincial town in Oklahoma. This event happened in 1918. Since childhood, he showed an active life position: he made his way to university,became student council presidenta, successfully completed his studies, receiving a bachelor's degree. He worked as a hired worker, went to war during World War II, and then took out loans (more on this below) and opened his first store under the Ben Franklin brand franchise.
Soon, instead of just one, Sam managed nine stores in the chain. Having gotten comfortable, he suggested that the owners of the brand open in citiesSupermarkets are prototypes of modern shopping centers with low prices close to wholesale prices.He was refused, and Walton decided to act on his own. It turned out radically: he founded the very network that made him famous throughout the world. Thanks to his goodwill, flexible pricing policy and hard work, Sam overtook his competitors, expanded his business and gradually became a real monopolist.
Already in 1970, 20 Wal-Mart stores were opened in US cities. And today inThis retail chain already has more than 4,000 stores all over the world.The product range exceeds 70,000 items, and annual sales volume is more than $200 billion.For several years in a row in the 80s, the tycoon was the richest man on earth.
Uncle Sam died in 1992. According to Forbes, his fortune at the time of his death was $58.6 billion. They were inherited by Walton's wife and children - now they are among the top richest people in the world.
Business Lessons from Uncle Sam
1. Don’t be greedy, don’t raise prices
Oh, how great the temptation can be to raise prices in order to get more profit! But in practice, for some reason, the opposite happens: people go to those competitors who reduce the cost of goods, arrange discounts and sales. The king of trade, Sam Walton, did the same. Before Wal-Mart, he founded the Five & Ten Cents store and had a sale on the first day, and then constantly discounted various products. Customers were delighted and came to the store in an endless stream.
In his subsequent outlets, Uncle Sam adhered to the same principles. He came up with a rule: why wait for seasonal sales if you can have them every day? Another postulate was reduced prices for any product every day. For example, today children's toys are sold at a discount, tomorrow - clothes, the day after tomorrow - watches and accessories.
At first, Walton's ideas seemed revolutionary, but gradually other businessmen adopted them. Low prices and discounts have become as commonplace as card payments and cashback. But how to achieve low prices without working at a loss - you ask. The secret of the king of trade's success was extremely simple: he personally negotiated low prices with suppliers, made a minimum markup and personally delivered goods to stores. Can you do this?
2. Smile!
I don’t know if Sam Walton was friends with another smiling American, Dale Carnegie, but these two agreed on one thing: smile more often, and people will be drawn to you. At the beginning of his career, Walton personally greeted every customer at the door, spoke to people, communicated kindly and, of course, smiled with all 32 teeth. Sam did not hesitate to talk with every customer, talking about his life, his wife and children, and people appreciated this.
His employees do the same. The ten-step law still applies in the chain’s stores, which every employee must know. It states that if a customer comes within 10 steps of an employee, he MUST smile and ask if he needs help.
Is it possible to do this in Russian realities? Well, frankly speaking, Russians are not the most cheerful people in the world, our people are not used to smiling at strangers and may simply not respond to your sincere greeting. But try it anyway, and perhaps your signature smile will become the highlight of the company.
3. The key to success is perseverance and work
As in our proverb: patience and work will grind everything down. Scroll up again and re-read Sam Walton's biography. If a farmer's son could become the richest man in the world, why can't you? Go boldly towards your goal, do not notice the obstacles on the way and be sure that you can conquer this world.
4. Don't be shy to ask for help.
To open his first store, Sam had to take out a loan. His wife's parents were rich people - of course, it was to them that he turned for help in the first place. Walton respected his father-in-law very much - and he reciprocated. Therefore, the young man did not hesitate to borrow from relatives, and then again - and it paid off handsomely.
Of course, as the tycoon’s business developed, other investors appeared - more serious than the Arkansas merchant, his wife’s father. But his principles remained the same: if you are confident in the profitability of your business, feel free to ask and do not be afraid of anything.
5. Learn, develop
Help from relatives is great, perseverance and work are even better, luck and luck are generally great, but you shouldn’t forget about your own development. If you don’t learn new things, don’t develop, sooner or later you will be overtaken by a crisis or stagnation - which is also not good.
Sam Walton constantly traveled around the country, met and partnered with other entrepreneurs, adopted and implemented new ideas, and learned from their mistakes and failures. Even on vacation, he constantly thought about work, and if he saw a shop on the way, he could freely go there and chat with the employees.
You, too, can bring this model of behavior to life, fortunately now there are more than enough opportunities for this. In Russia, conferences, master classes, professional forums and seminars are constantly held, even in our narrow topic of Internet marketing they happen almost every week. This is where you can meet interesting people and gain important knowledge! If you can’t travel, attend conferences and webinars online and save money at the same time. Communicate on thematic platforms, make contacts and connections, and the community will accept you.
Let's say you have a business selling phones. Or sushi delivery. Or an online cosmetics store - it doesn’t matter. You can follow the well-trodden path trodden by thousands of entrepreneurs and miss the stars from the sky, but there is a better idea - to come up with something new. Then you will become a leader, people will follow you, they will imitate you.
Sam Walton, for example, was the first in America to introduce self-service. He thought simply: if you give a customer a cart and the opportunity to buy unlimited goods, he will definitely take advantage of the freedom and buy more. Just remember what your shopping list is like in a chain hypermarket and a store near your house, where you run to buy bread and milk after work. There’s no time to buy much, there’s a line behind, other buyers are waiting. And in a self-service store you can walk around all day and slowly choose what you want.
Another new idea, the founder of which was Uncle Sam: to open supermarkets not only in the center, but also on the outskirts. There are several reasons for this: firstly, land is cheaper, secondly, buyers are simpler, and thirdly, there is almost no competition. Now we are seeing how the outskirts are being captured by Auchan, Perekrestok, Dixie and Pyaterochka. It happens that several shops coexist peacefully in one yard, and here’s the paradox - they have no shortage of customers.
According to Walton, all the ideas and advances that appear in the world around you need to be adapted to your business. Or at least try. Now, for example, cryptocurrency is popular - think about how you can use it. In the field of online promotion, videos and stories are taking over - are you already using them? So what are you waiting for!
7. Don't dwell on failures
Do you think empires are built easily and let young Sam be strewn with rose petals? No matter how it was: there were enough difficulties on his business path, and his hands gave up, and his hopes melted away. I remember the moment in the book when the Walton family was literally driven out of the city. Friends, business acquaintances, reputation and a quiet life remained there. For a short time, the businessman allowed himself to suffer, but then he pulled himself together and began to extract advantages even from an unpleasant situation. The family moved to another city and settled down there, Sam opened another store and, as we already know, succeeded. He became more careful and prudent - in a word, he gained experience.
The moral of this story is simple: any crisis is a challenge, it is a change on the path to the better. There is no point in feeling sorry for yourself and dwelling on failures - you just need to get up and move on, start over, and again, and again.
8. Take care of employees
A warm family atmosphere, friendly relations between superiors and subordinates is not a utopia, but a reality that Sam Walton created in his stores. Among the main rules of the company is human treatment of employees:
- not to order, but to discuss;
- Treat every employee as a business partner;
- generously share profits, because everyone works together for the benefit of the company;
- stimulate employees to further achievements - reward them, give bonuses. Envybox Company , for example, took employees to Thailand;,
- listen to employees' ideas and suggestions. When discontent brews in the team, people whisper in smoking rooms and discuss their bosses in personal correspondence - things are bad, it’s time to change something;
- do not hide the true state of affairs, share information. If profits have fallen, it means you need to tighten your belts and look for ways to attract new customers.
It is clear that such management and employees will be treated with respect. After all, we are all human, and a good attitude is sometimes worth more than the highest salary. Walton did not demand much from his employees in return: to please customers in every possible way, to monitor expenses rather than competitors, that is, to save money, and to swim not with the flow, but against it.
Interesting point. You must not just love the client as yourself - you need to become this client, penetrate his brain and understand what he wants. Always offer a little more: a free cup of coffee, a coupon or small gift, a discount on the next product, and so on.
And further:
- be devoted to your idea, believe in it, live it;
- motivate employees and partners;
- talk honestly about problems;
- Celebrate every success.
Pros of the book:
- autobiographical - no comment here. What could be better than a wise man's story about his own life?
- modernity - the action takes place several decades ago, the mechanisms and business processes remain the same;
- literary quality - reading the book is a pleasure, it is a leisurely story in the “My Life” format, seasoned with living stories;
- frankness - it’s always interesting to read how great a person was in everyday life, in the family. The author satisfies our curiosity by telling us how he got married and raised four children, how difficult it was to go against the grain, and why he had to retire.
Cons of the book: I didn’t find it, honestly.
Find your answer!
“I was really lucky today!” - anyone who holds this book in their hands can say so. Here is the autobiography of Sam Walton - not just the memoirs of an American who succeeded in life, a man who realized the “American dream” and became one of the richest people on the planet. Without exaggeration, this is a treasure trove of secrets and the key to unraveling the Wal-Mart phenomenon - from its creator, first-hand.
Wal-Mart today is a global business leader, the number one global retail company. In 2003, its sales volume amounted to over $256 billion. More than 20 million customers make purchases daily in 5 thousand stores around the world: in the USA, Argentina, Brazil, Canada, China, Germany, South Korea, Mexico, Puerto Rico, Great Britain, where they are served by over 1.5 million Wal-Mart employees.
In 1979, Wal-Mart's turnover exceeded $1 billion for the first time. In 1993, it took 1 week. In 2001 - 1 day. Last year, a new record was set at $1.5 billion in one day. Most likely, by the time this book comes out, he will already be beaten.
But it’s not just these fantastic numbers that attract our attention. It seems incredible, but with today's unprecedented level of competition in the retail industry, Wal-Mart is 4 times ahead of its closest pursuer from the tight list of those catching up - the French chain Carrefour with a turnover of $65 billion and the number of stores 2 times more than Wal-Mart. A breakthrough that has no analogues. How did you manage to make such an amazing leap before our eyes? What are the ingredients for success? You can find the answers in this book.
Why would we like to open our library with this - a series of books written by professionals and for professionals? It is perhaps difficult to find another publication that would equally rightfully claim to be a “bible for retailers.” The book was published and immediately became a bestseller in 1992. A few months later, Sam Walton passed away. This autobiography is his testament. With the utmost frankness, he talks about his views on life, about the people who made Wal-Mart's success today possible, about the technologies that made it possible to create a miracle.
Ten years later, in 2002, Adrian Slywotzky, a Harvard professor and Managing Director of Mercer Management Consulting, a leader in corporate strategy consulting, wrote in his book The Art of Profitability. (The Art of Profitability) will write:
“There are two books worth reading: Sam Walton's Made in America and Put Your Soul Into It by Starbuck's Howard Schultz (Pour Your Heart Into It by Howard Schultz). Why every retailer doesn't read these books at least three times is a complete mystery to me. After reading it twice, read it a third time with a specific goal: to understand how local leadership is achieved, what it consists of and what it costs.
One last thing: don't read for fun, although both books are entertaining. Read to learn. After reading, imagine, seriously imagine, not for five minutes, that you are implementing a typical business model for a business with local revenue leadership. Tell yourself what changes you could make based on the analysis of the distilled knowledge from these two books."
One of them is in front of you. There are no elementary truths in it. She lifts the veil of secrecy over the fact that The New York Times called "the most effective and profitable relationship between technology, work organization and a new form of market."
But not all the secrets were shared by Sam Walton: “We have always known that “whoever controls the information controls the situation,” but the degree to which we can control it using a computer truly gives us the opportunity to gain an advantage over our competitors.” . Following this principle, he only outlined the main solutions to the problems of logistics, replenishment of stocks and the construction of information systems to manage these processes, used by Wal-Mart. Saving time, reducing costs and flexibility are the main criteria for innovation. Leaders of the Russian market, based on the approaches and principles found in the book, can discover their know-how to increase competitiveness. The main thing is that after reading this book they have clear points of reference.
“I don’t know what would have happened to Wal-Mart if we had sat quietly and never challenged the competition. I believe that then we would have remained a purely regional small retail chain. Then, it seems to me, we would be forced to sell our company to some national chain looking for a quick way to capture the provincial market.
We decided that instead of avoiding our competitors or waiting for them to come to us, it was better to meet them head-on.”
Probably, any Russian retailer thinking about the future is ready to share this quote from Walton. Today there is still an opportunity to build your own trading empire here. To do this, you need to search and find your answers, just as Wal-Mart, the creator, found them.
...In Arkansas, in the town of Bentonville in the Five amp; Ten Cents, where Sam Walton started, is now a Wal-Mart Stores museum. It displays samples of goods from half a century ago, and among them is a large thermometer. One of the buyers returned it to Walton, claiming that he was “keeping the time incorrectly.”
The most successful, but someone else's experience may seem “wrong”.
Find your answer.
Elena Kudrina,
Executive Director of FIT - France Informatique et Technologie
PREFACE
Greetings, friends. I'm Sam Walton, founder and president of Wal-Mart Stores. I hope you have already made purchases in one of our stores. Or maybe you purchased shares of our company. If so, you probably already know how proud I am of this common miracle, what my Wal-Mart associates have accomplished in the thirty years since we opened our first store here on northwest Arkansas. My company and I still consider these places our homeland. It is sometimes hard to believe that from one small store we have grown into the largest retailer in the world. And that so damn much time has passed since then.
However, as a result, over the years, a lot of misinformation, myths, and half-truths have been created around me and Wal-Mart. I think there was too much attention to my personal financial affairs, attention that caused both me and my family a lot of unnecessary complications in life, although I simply ignored it and directed all my efforts to make sure that in my life and at Wal-Mart “Everything went as it should.
In principle, everything is still going on as before. Except that I have been battling cancer for some time now, and perhaps also that I have definitely not gotten any younger over the years. Lately, a lot of people, including Helen and the children, some of our company executives, and even my trading partners, have been pressuring me that only I and no one else should tell the world the story of Wal-Mart. And that, whether I like it or not, my whole life is closely connected with our company and I should sit down to this work, without postponing the matter, while I am still able to do it. That's why I'm trying to tell this story as best as possible, as close to the actual course of events that happened to us, and I hope that it will be almost as entertaining, funny and exciting as it was for all of us, and that I can convey to you at least a small fraction of the spirit that we were all imbued with when creating our company. And one more thing: more than anything else, I want to reflect what a huge role its shareholders played in the success achieved by the company.