Quotes on Success:
We couldn’t care less about what is forecast or what the market says we ought to do. If we listened very seriously to that sort of stuff, we never would have gone into small-town discounting in the first place
When somebody made a mistake – whether it was myself or anybody else – we talked about it, admitted it, tried to figure out how to correct it, and then moved on to the next day’s work.
You can make a positive out of the most negative if you work at it hard enough.
I learned a long time ago that exercising your ego in public is definitely not the way to build an effective organization
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.
I had to pick myself up and get on with it, do it all over again, only even better this time.
Loosen up, and everybody around you will loosen up
One person seeking glory doesn’t accomplish very much.
I guess real merchants are like real fishermen: we have a special place in our memories for a few of the big ones.
Many of our best opportunities were created out of necessity.
If you get one good idea, that’s one more than you went into the store with, and we must try to incorporate it into our company.
I’d hate to see any descendants of mine fall into the category of what I’d call ‘idle rich’ – a group I’ve never had much use for
"Great ideas come from everywhere if you just listen and look for them. You never know who’s going to have a great idea.”
Quotes on Business:
Focus on something the customer wants, and then deliver it.
If you don’t listen to your customers, someone else will
A good location, and what we have to pay for it, is so important to the success of a store. And it’s one area of the company in which we’ve always had family involvement.
It is a story about entrepreneurship, and risk, and hard work, and knowing where you want to go and being willing to do what it takes to get there. And it’s a story about believing in your idea even when maybe some other folks don’t, and about sticking to your guns.
I learned early on that one of the secrets of campus leadership was the simplest thing of all: speak to people coming down the sidewalk before they speak to you. I would always look ahead and speak to the person coming toward me. If I knew them I would call them by name, but even if I didn’t I would still speak to them.
The goal as a company is to have customer service that is not just the best, but legendary.
I remember one time I didn’t want to spend any money on motels so we all slept in sleeping bags on the floor of one of our guy’s house. His furniture hadn’t gotten there yet
We’re all working together; that’s the secret.
You can learn from everybody.
There’s absolutely no limit to what plain, ordinary, working people can accomplish if they’re given the opportunity and encouragement to do their best
Most of us don’t invent ideas. We take the best ideas from someone else
You can’t just keep doing what works one time, everything around you is changing. To succeed, stay out in front of change.
Sam Walton, an American entrepreneur, was the founder of Walmart and Sam’s Club, a chain of membership-only retail warehouse clubs. He graduated from the University of Missouri with a bachelor’s degree in economics.
In 1945, Walton purchased the Ben Franklin variety store, which was a franchise of the Butler Brothers chain. He opened his second store “Eagle” next to its competitor. The sales grew from $80,000 to $225,000, in only three years. He sold the store and purchased another in a new location. The new store’s sales went from $72,000 to $105,000.
The first Walmart opened in 1962, in Arkansas. Walton made an effort to sell American-made products to consumers at a low price. He opened outlets in small towns to be near consumers. From 190 stores in 1977, there were 800 stores in 1985.
One month before his death, he received the Presidential Medal of Freedom from George Bush, for his work in retail. In 1992, the year of his death, he was inducted into Junior Achievement U.S Business Hall of Fame. In 1998, he was listed as one of the 100 Most Influential People of the 20th Century by Time.