Sam Walton: Made in America

My One Thing:

It is important to understand all parts of business

Other Key Concepts

  • 1. Success has a price
  • 4. Integrity
  • 5. Learn to negotiate
  • All rich are frugal and understand money- they invest in accounting, financial and other education
  • 13. Value the dollar for you and your customers
  • 14. Ambition
  • 15. Reading and education
  • 15. High personal goals and motivation
  • 16. Teamwork
  • 20. No job is too small
  • 23. Mentors are a must
  • 38. No BIG mistakes
  • 39. Do it again, but better
  • 50. Learn real-estate
  • 53. Keep reinvesting
  • 63. Wal-Mart secret=swimming upstream
  • 70. Action oriented, do it now
  • 72. Focus on best seller
  • 80. Gather and critique each other
  • 80. Watch the competition
  • 85. Stick to your guns
  • 94. Didn’t push kids too hard
  • 103. To take care of customers, take care of employees
  • 116. Hire right and it helps carry your success
  • 137. Stock price okay, but team and family concepts are a must
  • 141. Saturate your market
  • 142. Word of mouth
  • 144. Location, location, location
  • 148. Know your numbers
  • 150. Start the day early
  • 158. Systems help later on
  • 162. Underpaid employees early on- 169. profit sharing for all
  • 176. Give responsibility, trust them, then check on them
  • 179. Appreciation
  • 197. Right people, right job, when needed most
  • 198. Teamwork
  • 199. Culture
  • 211. Meetings are a show
  • 221. Successful retail=customer what they want
  • 237. Develop relationships with other companies
  • 242. Know the competition and let that make you better
  • 253. Go with your feelings
  • 261. Watch the competition behind you
  • 277. Bigger “we” are, smaller “we” must think
  • 279. One store at a time
  • 282. Communicate, communicate, communicate
  • 285. Keep ear to ground- get your hands dirty
  • 291. Force ideas to bubble up
  • 294. Stay lean, fight bureaucracy
  • 298. Give Back
  • 314. 10 Rules
    • Commit
    • Share
    • Motivate
    • Communicate
    • Appreciate
    • Celebrate
    • Listen
    • Exceed
    • Control
    • Swim

How to apply to RR

Communicate, communicate, communicate. We all can work on this. It should be done with other people in your clinic, in other clinics, everybody at FOI, patients, patient’s family, other healthcare providers, your family and friends. As you can see the list is pretty much endless, but it still cannot be overlooked. Think about the last time you didn’t communicate enough and how did it work out.

How to apply

Never stop learning. We can all learn from each person we see every day, we can learn from each book we read and class we take, we can learn from each other, we can learn from other companies. It does not matter, but we must continue to learn and then we can spread that by helping out people as we keep improving.

My review

Sam Walton is certainly one of the best business people of all time. He knew that he had to have an understanding of all parts of business. He knew the numbers, real-estate, the customer, how important teamwork and very importantly, he studied his competition and never stopped improving. This is just a great book to learn that building one of the largest corporations ever, still began one store at a time.

My recommendation

If you like Wal-Mart or not. This is still a must read.