Sam Walton’s Rules for Building a Business From the business renewal workshop, "Bar/Nightclub Management & Marketing" developed by FORD Management Services. Sam Walton made minding the store a lifetime commitment. His book, "Sam Walton: Made in America, My Story" outlines his extraordinary success in creating and building Wal-Mart into a national institution. Building a team of people who work together well was essential. Walton called all employees associates and partners. The book describes "Sam’s Rules for Building a Business." Here they are, in his own words: Rule 1. Commit to your business. I think I overcame every single one of my personal shortcomings by the sheer passion I brought to my work. Rule 2. Share your profits with all associates, and treat them as partners. In turn, they will treat you as a partner, and together you will all perform beyond your wildest expectations. Rule 3. Motivate your partners. Money and ownership aren’t enough.....Set high goals, encourage competition and then keep score.
About the author: Ray Ford is a food & beverage
consultant. FORD Management Services specializes in business
plans, new concepts & business turnarounds. The company also
develops Web sites & online services. If you have any questions on a project that you're currently working
on, or would like some input, drop us an email: We’ve just scratched the surface here. If you want to learn more, I’d like to invite you to read more articles on "Success Management Systems" by jumping to our Manager's Pages here. |
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