At first, Sam Stores are franchised stores from The Butler Brothers. With the help of Bud Walton, in-law and brother-in-law, Sam opened the store in Ruskin Heights, near Kansas in the shopping center. Then open a larger store called Walton’s Family Center and finally Sam with Bud founded Wal-Mart. Initial strategy was used to discount stores. This strategy is the first in the world. Five years later, Wal-mart has 24 branches with sales of 12.6 million dollars. In 1970, Wal-Mart opens first distribution center and headquarters in Bentonville, Arkansas, and trade shares of the first time. Then Wal-Mart approved and listed on the New York Stock Exchange. In 2003, the company has operations in more than 4000 stores worldwide. In 1999, with business partners 1,140,000, Wal-Mart became the largest private companies in the world.
The simple act of leader, however cause Big Impact
Every leader must have the force and power of each. A Sam Walton was known to be rather revealing the positive side of someone, then say thank you to someone because of their privilege to do.
Walton also was the one who appreciates the input from others. He was always asking questions to anyone who can give input considered. “Would you visit our distribution centers? After that, please tell me, what needs to be improved.” “How do you think of our new store concept? What will we do Walmart?” This shows that Walton’s very open to feedback and even criticism directed at him, while quite a lot of leaders feel allergic to criticism of others. This simple act turned out to have a real impact for customers and partners.
Sam Walton was not a man who likes to waste time and energy. The suggestions from customers not only accommodated without a clear follow-up, but he wrote in a notebook he always carried, or recorded in the cassette. After that he took the action based on that advice. This action that ultimately proved his concern for the customer.
Walton also a leader who close to the employees. Often vanity top executives has led to the collapse of a company. They tend to build a distance (gap) with front-line employees. The bigger of the company, usually the greater the possibility of these leaders have lost contact with the front-line employees. But not so with Sam Walton, he was a leader who humble and modest. Throughout his life, he often visited the front lines of every store. Sam Walton’s leadership style is close to the employee coloring corporate culture of Wal-Mart today.
Sam Walton’s success secret
Walton’s leadership success according by Michael Bergdahl, author of The 10 Rules of Sam Walton, is that Walton is a person who has a vision, never give up, and optimistic. He is also constantly learning from its competitors but doing its by own way, he does not like to follow the style of others. Sam Walton was also the man who dared to take risks, even though he admitted that the first 90% he always failed when taking a risk. For Sam Walton, his failure is a lesson to achieve success.
In the book Successful Business Leaders of Investor’s Business Daily, there are some secrets of Walton’s success that we can learn, namely:
1. Constantly trying to improve
If we ask him about the way to run business, then he is a man who was never satisfied. For example, in 1966, Walton has five Wal-mart stores in a few small shops, and five shops were producing an income of $ 10 million in sales per year. But, he continued to look for ways to improve and expand his business and make it more...