Reading about the beginning of modern merchant theory in America via Sam Walton’s amazing book “Made in America”.
Here are 3 things I’ve learned.
1. Learning just one thing from a course, program, or book validates almost any expense. Sam says he learned an accounting system from the Ben Franklin franchise program. He said he didn’t like doing anything else by the books except did love that accounting system and used it in the first 5-6 Wal-Marts.
2. Hustle is everything. When Sam’s primary competitor was going to merge into a grocery store next to him, he hustled down to Hot Springs and somehow convinced the landlady to give the lease to him instead. Thus stopping his competition from grabbing it; which he claims was a strategic victory in his first store.
3. Care about the details and experience. When he moved onto his second store, he had to renovate, and out of all the things Sam could have mentioned in this book he specifically says “we put in brand-new fluorescent fixtures instead of the low watt bulbs they had hanging from the ceiling”. Do you care about the details that much? This man wrote this book on his death bed over 50 years after he replaced those fixtures, yet he still remembers it and thinks it’s important to note.
Go do something amazing today. If you don’t believe in Wal-Mart that’s fine, a lot of us don’t like the giant it has become. But this man Sam Walton did something nobody in the history of the world has ever done. We should respect him for that, and learn from him.
He’s passed away now, but what would he say of your plans for today? “What would Sam Walton do?” Should be on your mind as you strategize your day.
Let’s rock and roll.
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