Founder Of Walmart Quotes

There is only one boss: the customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else. —SAM WALTON, FOUNDER OF WALMART A

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Walmart’s founder, Sam Walton, famously enshrined the company’s customer service aspiration into its “10-foot rule”: Whenever an employee is within ten feet of a customer, they’re expected to look them in the eye, smile, and ask, “How can I help you?

American Girl dolls are nice. But they aren’t amazing. In recent years Toys“ R” Us, Walmart, and even Disney have all tried to challenge American Girl’s success with similar dolls (Journey Girls, My Life, and Princess & Me)—at a fraction of the price—but to date, no one has made a dent. American Girl is able to command a premium price because it’s not really selling dolls. It’s selling an experience. When you see a company that has a product or service that no one has successfully copied, like American Girl, rarely is it the product itself that is the source of the long-term competitive advantage, something American Girl founder Pleasant Rowland understood. “You’re not trying to just get the product out there, you hope you are creating an experience that will do the job perfectly,” says Rowland. You’re creating experiences that, in effect, make up the product’s résumé: “Here’s why you should hire me.” That’s why American Girl has been so successful for so long, in spite of numerous attempts by competitors to elbow in. My wife, Christine, and I were willing to splurge on the dolls because we understood what they stood for. American Girl dolls are about connection and empowering self-belief—and the chance to savor childhood just a bit longer. I have found that creating the right set of experiences around a clearly defined job—and then organizing the company around delivering those experiences (which we’ll discuss in the next chapter)—almost inoculates you against disruption. Disruptive competitors almost never come with a better sense of the job. They don’t see beyond the product.

Many of the best and most conspicuous examples of strategic principles come from companies that were founded on them, companies such as eBay, Dell, Vanguard, Southwest Airlines, and Wal-Mart (“Low prices, every day”). The founders of those companies espoused a clear guiding principle that summarized the essence of what would become a full-blown business strategy.

The personal case histories were the most encouraging. A prominent Los Angeles public relations executive has been living with MM for fourteen years, rides horses, and has an altogether active life on drug maintenance. An Arizona man survived MM and with his wife set up a foundation and website for other families bewildered by the diagnosis. I learned, for the first time, that Frank McGee, host of the Today show from 1971 to 1974, suffered from MM and kept it from everyone despite his ever more gaunt appearance. When he died after putting in another full week on the air his producers and friends were stunned. Sam Walton, founder of Walmart, was another MM casualty, which led many to believe that he had established the high-profile multiple myeloma treatment center in Little Rock, Arkansas. This is a full-immersion process in which MM is the singular target under the commanding title of Myeloma Institute for Research and Therapy. There is a Walton auditorium on the institute’s University of Arkansas medical school campus, but the institute itself was founded by Bart Barlogie, a renowned MM specialist from the MD Anderson Cancer Center in Houston. The institute has an impressive record, running well ahead of the national average for survival for those who are dealing with MM. One number is especially notable. The institute has followed 1,070 patients for more than ten years, and 783 have never had a relapse of the disease. Sam Walton was treated by Dr. Barlogie at MD Anderson before the Little Rock institute was founded, but the connection ended there. Walton, who’d had an earlier struggle with leukemia, didn’t survive his encounter with multiple myeloma, dying in April 1992, a time when life expectancy for a man his age with this cancer was short. I was unaware of all of this when I was diagnosed. I took comfort in the repeated reassurances of specialists that great progress in treating MM with a new class of drugs, your own body’s reengineered immunology system, was rapidly improving chances of a longer survival than the published five to ten years. As I began to respond to treatment the favored and welcome line was, “You’re gonna die but from something else.

Hello, friends, I’m Sam Walton, founder and chairman of Wal-Mart Stores. By now I hope you’ve shopped in one of our stores, or maybe bought some stock in our company.

High expectations are the key to everything. —Sam Walton, founder, Walmart

Schmidt started 2012 with new, modern packaging for the deodorant, which was designed to set it apart from the competition. She looked beyond the direct-to-consumer sales channels and the natural and wellness retailers that her competitors used almost exclusively; in 2015, she expanded into traditional grocery stores and pharmacies, which allowed her to reach more customers and to enable greater access to healthy natural products. Her creativity, innovation, and hard work paid off. Schmidt earned appearances on Fox News and The Today Show; mentions on social media from celebrities and influencers; articles in national publications; and distribution on the shelves of Target and Walmart. Though it was bittersweet, Jaime realized that a larger company with more resources could bring her vision and mission to an even wider customer base, and she signed the deal with Unilever right before Christmas 2017. Reflecting on her journey, she says, “When I’m asked about what made Schmidt’s so successful, I often say that my customers were my business plan. It started when I listened to those at the farmer’s market, and it continued through each step of growth. Staying hyper-tuned-in to my customers always guided and served me.” Not sales. Not marketing. Customers, educating, and being educated.

And it was only after his death, after Wal-Mart’s downhome founder was no longer its public face, that the country began to understand what his company had done. Over the years, America had become more like Wal-Mart. It had gotten cheap. Prices were lower, and wages were lower. There were fewer union factory jobs, and more part-time jobs as store greeters. The small towns where Mr. Sam had seen his opportunity were getting poorer, which meant that consumers there depended more and more on everyday low prices, and made every last purchase at Wal-Mart, and maybe had to work there, too. The hollowing out of the heartland was good for the company’s bottom line.

success is solely the result of its slow-and-steady approach to growth and expansion. Walmart has undoubtedly flourished for many reasons. Apart from Sam Walton being the founder, though, I don’t know what other factors have led to its success. I can rattle off a list of things from various business books and articles written on Walmart, but I don’t know if they were the cause or the effect of its success. But I do know that taking calculated risks and staying robustly healthy have had a strong correlation with its accomplishments over sixty years.

There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else. —SAM WALTON, FOUNDER, WALMART