Sam Walton's 10 Rules for Building a Successful Business

Published: 07th January 2010
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Sam Walton was an amazing man who worked hard and accomplished a great deal in his lifetime. His 10 rules for building a successful business came from all of his life lessons on building a successful business and life.





Sam Walton grew up poor during the Great Depression, yet rose to start the biggest retail store Walmart. As founder of Walmart and its many successful divisions, Sam Walton reinvented the retailing industry through his singularity of focus, high expectations, and never-say-die attitude. He quotes;





HIGH EXPECTATIONS ARE THE KEY TO EVERYTHING.





Many people due to the poor economic times have lowered their expectations due to the loss of their jobs, their homes and have given up on their dreams. But it doesn't have to be that way. There are other alternatives where you can take charge of your life.





CAPITAL ISN'T SCARCE; VISION IS.





Visions are extremely important. Sam Walton had a vision of how he wanted his life to be and he pursued it with gusto.





During his successful career, Sam Walton developed a list of what he considered the most important rules for entrepreneurial success.





SAM WALTON'S 10 RULES FOR BUILDING A SUCCESSFUL BUSINESS



1. Commit to your business.

2. Share your profits with your people.

3. Motivated people to do their best.

4. Communicate what is going on.

5. Appreciate the people who are helping you.

6. Celebrate successes.

7. Listen to people when they speak, especially customers or clients.

8. Exceed expectations.

9. Control expenses better than your competition.

10. Swim upstream.





As you can see Sam Walton believed strongly in the power of people, so it's fitting that most of his rules for business are really about people, and what can be achieved when you believe in yourself and believe in others.





Over the next few weeks I will be writing about each rule with more clarity and wisdom. I think that it is important that we understand why Sam Walton was so passionate about these rules. So stay tuned for the next article on rule #1, Commit To Your Business.





About the Author

Monique Schlosser is a writer and Business Owner of MoniqueSchlosser.com Blog - providing Free Tips on Business, Success & Health.

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